ASSIGNMENT 1.

Briefly explain:

1. Realization concept 2. Money measurement concept 3. Personal a/c, nominal a/c and real a/c with their rules and proper example. 4. Accrual concept / Merchandise system of a/c. 5. fundamental accounting concept 6. Trading a/c, profit and loss a/c and balance sheet with proper format. 7. Memorandum of association 8. Articles of association 9. Types of companies 10. Preliminary expanses 11. share capital & types of share capital 12. Qualitative characteristic of financial statement 13. GAAP ( Generally Accepted Accounting Principal) 14. NACAS (National Advisory Committee of on Accounting) 15. CBDT (Central Board of Direct Taxes) 16. ASB ( Accounting Standard Board) 17. Auditors’ Report 18. Directors’ Report 19. Corporate Governance Report 20. Quality of earning 21. Window Dressing 22. Per employee analysis of profitability, financial position and cash flow. 23. Per equity share analysis of profitability, financial position and cash flow. 24. Indian GAAP and US GAAP

25. 26. 27. 28. 29.

Foreign Currency Accounting Inflation Accounting, Human Resource Accounting, Environment accounting, Responsibility Accounting

2. Which are the financial statement & reports presented in the annual report? What are the objectives of financial statements & who are the users of financial information? 3. Prepare the vertical format of balance sheet and income statement. 4. What is cash-flow statement? Explain the three different activities of cash flow statement and non cash items. Prepare the format of cash flow statement. 5. What are the main objectives of accounting standards in global context? 6. What is the need for uniform global financial reporting?

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