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Old Wednesday, December 23, 2015
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QWAimal QWAimal is offline
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The test was tough. I went pretty unprepared for it as well. So it was tough for the average bba finance or bcom students with no experience of public accounting rules and public procurement rules.
Questions were of these types and kinds from what I remember,

What to debit and what to credit under various given conditions,
Titles of major accounts like profit and loss, revenue, expenses, etc and how to work among them for adjusting entries,
Accounting principles of going concern,matching,realization,conservatism,accrued and cash accounting,etc

Accounting terminology of terms of loan and discount like 1/10 n/60, etc,
stock/shares knowledge,
Depreciation, straight line and the other one
Equity and assets and separate entity concept,
What system of accounting is followed in government (of Pakistan I guess): cash or accrued or hybrid,
Auditor General's, Accountant General, Audit Committees, audit party, audit check comments and there general types/templates used in marking an audit check on an account under given conditions like if a public employee is short of or is overpayed in salary what would the accountant General's appointed person's for audits' course of action would be? (Options included: to cancel the payment, to recover, to suggest not to do again, and their none of the above)
Pention rules for widows and inheritors of a deceased public servant holding pension, conditions under which pension is calculated in the context of the duration of services rendered and whether training period is included in it or not.


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