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-   -   Accounting & Auditing Paper of 2011 (http://www.cssforum.com.pk/css-past-papers/css-papers-1971-2015/css-2011-papers/46730-accounting-auditing-paper-2011-a.html)

Sajni Tuesday, March 22, 2011 07:52 PM

Accounting & Auditing Paper of 2011
 
Accounting & Auditing Paper 1.....

[IMG]http://i1139.photobucket.com/albums/n555/Riz2303/Accounting%20Paper%202011/1.jpg[/IMG]

[IMG]http://i1139.photobucket.com/albums/n555/Riz2303/Accounting%20Paper%202011/2.jpg[/IMG]

[IMG]http://i1139.photobucket.com/albums/n555/Riz2303/Accounting%20Paper%202011/3.jpg[/IMG]

[IMG]http://i1139.photobucket.com/albums/n555/Riz2303/Accounting%20Paper%202011/4.jpg[/IMG]

[IMG]http://i1139.photobucket.com/albums/n555/Riz2303/Accounting%20Paper%202011/5.jpg[/IMG]

[IMG]http://i1139.photobucket.com/albums/n555/Riz2303/Accounting%20Paper%202011/6.jpg[/IMG]

[IMG]http://i1139.photobucket.com/albums/n555/Riz2303/Accounting%20Paper%202011/7.jpg[/IMG]

Sajni Tuesday, March 22, 2011 08:00 PM

Accounting & Auditing Paper 2
 
Here is paper 2.............

[IMG]http://i1139.photobucket.com/albums/n555/Riz2303/Accounting%20Paper%202011/1-1.jpg[/IMG]

[IMG]http://i1139.photobucket.com/albums/n555/Riz2303/Accounting%20Paper%202011/2-1.jpg[/IMG]

[IMG]http://i1139.photobucket.com/albums/n555/Riz2303/Accounting%20Paper%202011/3-1.jpg[/IMG]

[IMG]http://i1139.photobucket.com/albums/n555/Riz2303/Accounting%20Paper%202011/4-1.jpg[/IMG]

[IMG]http://i1139.photobucket.com/albums/n555/Riz2303/Accounting%20Paper%202011/5-1.jpg[/IMG]

[IMG]http://i1139.photobucket.com/albums/n555/Riz2303/Accounting%20Paper%202011/6-1.jpg[/IMG]

[IMG]http://i1139.photobucket.com/albums/n555/Riz2303/Accounting%20Paper%202011/7-1.jpg[/IMG]

Raz Tuesday, March 22, 2011 09:26 PM

Both the papers were balanced and conceptual-clarity based. General understanding of the subject was essential for these papers. Those who are crammers and can not strive to relate theoretical things with practical use may find these papers challenging.

Wish you good luck guys.

Regards

mjkhan Tuesday, March 22, 2011 10:41 PM

may GOD have mercy on 2011 aspirants.

the paper was highly conceptual demanding in depth study of the subject and a firm grip on the concepts.

the days of easy papers for this subject are over.thank GOD i am a 2012 aspirant.



best of luck to the candidtes who attempted this paper.

Tipu Shah Wednesday, March 23, 2011 01:21 PM

Well...I think if somebody dont lose his senses after looking at the Q/paper than he/she can easily secure 130+ from this paper...

Not so much difficult...just same question only wording is change...

You can say that only presentation of Question is changed...

Anyhow Good Luck for All...and also Pray for me for Next Time...

Regards,,,,

jav_ria Wednesday, March 23, 2011 08:38 PM

both papers are conceptual not difficult at all.paper 1 is v simple.paper 2 is somewhat tricky n its pattern is changed lil bit.but dont worry css 2011 aspirants those who worked really hard will get through these papers.
best of luck

mani1 Wednesday, March 23, 2011 11:43 PM

No offense to anyone but commenting on a paper is another thing and attempting it in a competition exam is another. The pattern of paper was completely changed and questions were also given from different topics.

For example in Paper 1 no question was on trading and profit & loss account or Income and expenditure accounts or Accounts of non-profit organizations or cash budget. Still I would agree that paper 1 subjective should have been solved in time by someone who had grasp over all topics. However MCQs were very lengthy and there is no way someone could have solved them in 30 mins.

Paper 2 was the real disaster point as questions on cost accounting were difficult and different. Secondly no one was expecting Income from business and if one searches the forums, the same experts were recommending people to read Income from Salary as it is expected (as is pattern in past papers). The MCQs of Paper 2 were also very difficult.

In short, commenting on papers is really easy, attempting isn't. If any of you guys are so confident that it was easy for those having clear concepts, why don't you solve these papers in 6 hours and upload the solution?

Raz Thursday, March 24, 2011 12:01 AM

[QUOTE=mani1;281660]No offense to anyone but commenting on a paper is another thing and attempting it in a competition exam is another. The pattern of paper was completely changed and questions were also given from different topics.

For example in Paper 1 no question was on [COLOR=royalblue][B][U]trading and profit & loss[/U][/B][/COLOR] account or Income and expenditure accounts or Accounts of non-profit organizations or cash budget.
[/QUOTE]

[COLOR=black][FONT=Verdana]Sorry, did you attempt CE-2011? If yes, then question # 02 of Part-II is from final accounts. Income statement and Trading and Profit & loss A/C are used interchangeably just with the difference of terminology (American vs British and sometimes with a difference of presentation style). Your objection over absences of trading and profit & Loss account is not valid.[/FONT][/COLOR]
[FONT=Calibri][SIZE=3] [/SIZE][/FONT]
Wish you good luck if you are candidate of CE-2011.

Raz Thursday, March 24, 2011 12:45 AM

Paper-I

Q:3,4, and 5 were Halwa questions:

Q:3 of Section A. Basic concepts, principled, and terms of accounting.

Q:4 of Section A. This question was about the ABC of accounting. Your first lecture of accounting class.

Q: 5 of section A. Basic principle of revenue recognition taught at the time of final accounts (Income statement/P n L A/C and B/S) in light of IAS/IFRS-18

[url=http://www.accountancy.com.pk/reference_ias.asp?id=25]IAS-18 - Revenue | IFRS/IAS Summary | Accountancy[/url]


Q:6 was not an easy question but partnership question is always included in paper so we should be fully prepared for this topic. Most expected question.

Q:7 conceptual question based on IAS-1/IFRs/GAAP
[url=http://www.ifrsclass.com/gaap/ifrs/ifrs-01.htm]International Financial Reporting Standards (IFRS) by IFRSclass.com[/url]

[url]http://www.pcfr.org/downloads/09_08_Meeting_Materials/IAS1_summary.pdf[/url]

[url]http://basiccollegeaccounting.com/materiality-concept/[/url]

[url=http://www.peoi.org/Courses/Coursesen/acc/fram1.html]Accounting II Concepts[/url]


Q:8 Most expected and repeated topic. Easy and expected question.

Q:9 Expected and easy question. Understanding of depreciation of fixed assets in case of addition, and disposal is essential for accounting candidate. This topic is taught in the initial lectures before attempting final accounts question.

mani1 Thursday, March 24, 2011 05:03 PM

[QUOTE=Raz;281667][COLOR=black][FONT=Verdana]Sorry, did you attempt CE-2011? If yes, then question # 02 of Part-II is from final accounts. Income statement and Trading and Profit & loss A/C are used interchangeably just with the difference of terminology (American vs British and sometimes with a difference of presentation style). Your objection over absences of trading and profit & Loss account is not valid.[/FONT][/COLOR]
[FONT=Calibri][SIZE=3] [/SIZE][/FONT]
Wish you good luck if you are candidate of CE-2011.[/QUOTE]

I am actually surprised you think trading & profit & loss account/Income Statement can be used interchangeably. No they can not. While the end result will be the same, the methodology and format all are completely different. This suggestions of yours will actually lead to failure of candidates as you are suggesting if the examiner asks for trading & profit & loss account one can draw an income statement and vice versa. This would be disastrous as the end format is completely different. Please refer to books of Sohail Afzal for detailed format of Income Statement and trading & profit & loss account and hopefully you will understand.

Yes I gave the papers in 2011. Did you?

[QUOTE=Raz;281682]Paper-I

Q:3,4, and 5 were Halwa questions:

Q:3 of Section A. Basic concepts, principled, and terms of accounting.

Q:4 of Section A. This question was about the ABC of accounting. Your first lecture of accounting class.

Q: 5 of section A. Basic principle of revenue recognition taught at the time of final accounts (Income statement/P n L A/C and B/S) in light of IAS/IFRS-18

[url=http://www.accountancy.com.pk/reference_ias.asp?id=25]IAS-18 - Revenue | IFRS/IAS Summary | Accountancy[/url]


Q:6 was not an easy question but partnership question is always included in paper so we should be fully prepared for this topic. Most expected question.

Q:7 conceptual question based on IAS-1/IFRs/GAAP
[url=http://www.ifrsclass.com/gaap/ifrs/ifrs-01.htm]International Financial Reporting Standards (IFRS) by IFRSclass.com[/url]

[url]http://www.pcfr.org/downloads/09_08_Meeting_Materials/IAS1_summary.pdf[/url]

[url=http://basiccollegeaccounting.com/materiality-concept/]What do we mean by Materiality Concept Accounting Basics,principles & Concepts College Accounting Coach[/url]

[url=http://www.peoi.org/Courses/Coursesen/acc/fram1.html]Accounting II Concepts[/url]


Q:8 Most expected and repeated topic. Easy and expected question.

Q:9 Expected and easy question. Understanding of depreciation of fixed assets in case of addition, and disposal is essential for accounting candidate. This topic is taught in the initial lectures before attempting final accounts question.[/QUOTE]

With all due respect, people here know your own performance in 2009 paper. [B]Written posts of yours are available saying how good your papers went but when the result came out you hardly scored any marks (less than 60% if I am correct)[/B].

The point I am trying to make is that it seems you seem to oversimplify stuff, have over-confidence on your abilities and try to apply your throughts and procedures on everyone.

Don't get me wrong. I respect you and all the help you provide to people here. But you should also simply not discard opinions of others. I have asked you before and I'll ask you again. If you think this was paper was super duper easy, please solve both the papers in alotted time of 6 hours and upload it. If you can not, [B]please respect opinions of those who actually gave the paper in 2011 (I did)[/B]. I repeat that I am not challenging you or something; I would be grateful to you if you solve these papers and upload it and trust me, nothing would be more helpful for the rest of the aspirants.

I hope you will take this post of mine in positive sense.


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