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Old Tuesday, March 05, 2013
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Exclamation Mistakes in Question Paper-(Accounting I -2013)

Following are the mistakes that are unacceptable at this level and were present in today paper of Accounting and Auditing I:

Q.No1 (11) Deffered tax is shown in the Balance Sheet as:
(a) Asset
(b) Liability
(c) An expenditure in income statement
(d) None of these

Deffered tax can be an asset or liability shown in balance sheet depending upon the taxation situation of the company.

Q.No1 (12) The following represent tangible assets and are shown in the balance sheet as:
(a) People
(b) Expenses
(c) Revenue
(d) Goodwill

If given options are tangible assets then where are the items from which we have to select "which are shown in balance sheet as"? and vice-versa

Secondly none of the option represent any tangible asset.

Q No 2: Trail Balance of December 31, 2012 was given and students were required to prepare Profit & Loss Account and Balance Sheet for the year December 2011 from trial balance of December 2012. This level accounting is still not discovered which would have enabled the students to do this task.

Q No 6: Two types of balances were given to calculate profit, one were as of June 30, 2012, and other were as of July 1, 2012. Is there any difference between dates of balance? No there is no difference between dates, then why the balances were different?

Initially I thought that either they are printing mistakes or paper is set by a person who has just passed Intermediate in Commerce. I asked the center supervisor about the errors he asked me to wait as he is confirming , and any corrections will be notified. At last my second thought became true when he announced that there are no mistakes and questions are right!!!!!
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Quote:
Originally Posted by dawoodahmad View Post
Following are the mistakes that are unacceptable at this level and were present in today paper of Accounting and Auditing I:

Q.No1 (11) Deffered tax is shown in the Balance Sheet as:
(a) Asset
(b) Liability
(c) An expenditure in income statement
(d) None of these

Deffered tax can be an asset or liability shown in balance sheet depending upon the taxation situation of the company.

Q.No1 (12) The following represent tangible assets and are shown in the balance sheet as:
(a) People
(b) Expenses
(c) Revenue
(d) Goodwill

If given options are tangible assets then where are the items from which we have to select "which are shown in balance sheet as"? and vice-versa

Secondly none of the option represent any tangible asset.

Q No 2: Trail Balance of December 31, 2012 was given and students were required to prepare Profit & Loss Account and Balance Sheet for the year December 2011 from trial balance of December 2012. This level accounting is still not discovered which would have enabled the students to do this task.

Q No 6: Two types of balances were given to calculate profit, one were as of June 30, 2012, and other were as of July 1, 2012. Is there any difference between dates of balance? No there is no difference between dates, then why the balances were different?

Initially I thought that either they are printing mistakes or paper is set by a person who has just passed Intermediate in Commerce. I asked the center supervisor about the errors he asked me to wait as he is confirming , and any corrections will be notified. At last my second thought became true when he announced that there are no mistakes and questions are right!!!!!
yes from professional point of view ... these two statements are absolutely absurd ....
last year in cost accounting system ... they also mixed the two situations of the one question !! .... strange !! ...
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Old Tuesday, March 05, 2013
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I,categorically, ignored the mistakes, used my own judgement and then solved accordingly. However, it was really confusing paper because of dates. In fact dates are the essence of Accounting paper.
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Old Wednesday, March 06, 2013
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there was several mistake..it was indeed set by some non professional personal.

though part II was easy
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yes part 2 was easy ... but i don't know , how will they mark according to cramming bookish knowledge like sohail afzal or ... professional step by step judgement !!
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yes part 2 was easy ... but i don't know , how will they mark according to cramming bookish knowledge like sohail afzal or ... professional step by step judgement !!
If checkers will also non professional like paper setter then forget about step by step checking !!!
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Old Thursday, March 14, 2013
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plzzzz send subjective paper of accountancy 2013
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Old Thursday, March 14, 2013
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Default which book is good for?

i have done b-com .. And now m preparing for M.com so suggest a book for test??
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Old Friday, March 15, 2013
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i have done b-com .. And now m preparing for M.com so suggest a book for test??
If you are asking books for Accounting papers of CSS then list of recommended books is given in syllabus by FPSC & they are sufficient for preparation. For M.com you should consult Accounting by M.Hanif & Mukherjee Volume I & II, both volumes are superb books on Basic & Advanced Accounting.
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Old Tuesday, November 11, 2014
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[QUOTE=dawoodahmad;567725]Following are the mistakes that are

Q No 6: Two types of balances were given to calculate profit, one were as of June 30, 2012, and other were as of July 1, 2012. Is there any difference between dates of balance? No there is no difference between dates, then why the balances were different?


How did you attempt that question then? June 30 balances taken as opening?
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