Chapter wise Past Papers – Dec 2023 Updated

Compiled by: Arib S.

[Thanks to all the students who shared their exam feedbacks]

Fundamentals of Financial Accounting (FFA)

Find answers of below questions, solved descriptive and other
study material such as Recommended Lectures, Notes, Books,
Past Papers of your respective subject in this google drive:
https://drive.google.com/drive/folders/1EdfluOCsZ_NUiRZE_oJ
RT9eXiK4d4aT3

NOTES FROM THE ADMIN:

INTRODUCING CHAPTER WISE PAST PAPERS!
➢ Introducing chapter wise pp to facilitate the students in their learning
➢ You can find all pp (Oct 2022-Dec 2023) in this document categorize
according to their related chapters.
➢ DEC 2023 Topics/Questions are highlighted in yellow.
➢ Similar questions/topics from multiple students are written just once.
➢ Some questions/topics relate to MORE THAN one chapter, that’s why
they might be written in more than one chapter too.
➢ MTQs are mentioned at the last! FFA Paper Pattern:
❖ 30 MCQs of 2 marks each: 30x2= 60
❖ 3 MTQs of 10 marks each: 3x10= 30
For any query or confusion, contact: ❖ 2 Theoretical Descriptive of 5 marks
each: 2x5= 10
Name: Arib S. 60+30+10=100
Phone Number: 03352232888
Chapter: Accounting Nature and Objectives + Introduction to Financial Accounting
1. Financial book
2. Accounting cycle and process
3. Five business activities
4. List any 5 expenses incurred due to business activity.

Chapter: Accounting Regulatory Framework + Accounting Concepts and Conventions

1. Define balance sheet and give the examples of assets, liabilities and capital.
2. Expenses

Chapter: The Accounting Equation

1. Simple question about Accounting Equation

Chapter: Double Entry and Ledger accounting

1. Diff bw Book keeping and accounting
2. General Journal
3. General ledger
4. Subsidiary ledger

Chapter: Source Documents and Books of Prime Entry

1. Cash book

Chapter: Accounting for Sales Tax

1. Or aik question tha os ka ander os na muga total unit sales or price of per unit di hoi thi
or expense bataya tha ka 10percent of sale tax tha 30 percent of sale or os na Koch
missing figures di thin on ka answer find krna tha gasa ka profit before tax and profit
after tax gross profit etc

Chapter: Accruals and prepayments

NO QUESTIONS YET

Chapter: Bad debts and allowances for receivables

1. Definition and types of bad/doubtful debts

Chapter: Accounting for Inventories

1. Inventory turnover how to calculate r briefly explain business entity?
2. FIFO method
3. Find profit or loss find kar tha entrees di wi thi 2 bank reconciliation 3 the fifo method
Chapter: Control Accounts Reconciliation
1. control account

Chapter: Bank Reconciliation’s

1. Cash book
2. Bank reconciliation? It's importance
3. Find profit or loss find kar tha entrees di wi thi 2 bank reconciliation 3 the fifo method

Chapter: Tangible non-current assets + Intangible non-current assets

1. assets and types
2. Calculate machine purchasing cost
3. define non current asset. And briefly explain 3 example of non current asset?
4. Depreciation straight line
5. Explain Diminishing Balance
6. intangible and tangible with two examples
7. Machine purchasing entry
8. What is depreciation. which information provides for calculating the depreciation.
9. what is depreciation? Give the formula of reducing method.
10. What is the benifts of deprciation

Chapter: Accounting for Payroll

1. Define reducing balance method

Chapter: Payables, Provisions and Contingencies

1. When contingent liability recognized?

Chapter: Journal Entries and Suspense Accounts + Correction of Errors

1. Subsidiary book
2. Define errors
3. Errors affecting trial balance
4. Machine purchasing entry
5. rectification of errors

Chapter: Trial balance and Financial statements

1. Financial statement And its objective
2. Define balance sheet and give the examples of assets, liabilities and capital.
3. Errors affecting trial balance
4. Loss gain on exhange
 5. Trial balance

Chapter: Incomplete records

NO QUESTIONS YET

Chapter: Company accounts + Sole traders' accounts

NO QUESTIONS YET

Chapter: Manufacturing accounts

NO QUESTIONS YET

Chapter: Income and expenditure accounts

1. capital and revenue expenditure
2. Diff btw income and expenditure
3. Expenses
4. Features of Income and expenditure account
5. Features of receipt and payment account
6. Income statement with example of revenue & expenditure
7. Revenue and expense with two examples
8. Statement of P & L

Chapter: Statements of cash flows

1. Define Cash flow and its uses.
2. Working capital

Chapter: Financial Ratios

1. Capital invested and Capital employed
2. Change in equity

MTQs:
1. (Machine purchase on 1st january 2011. Cost is 3000000. Transportation charges 2000.
Installation n testing 48000. Life 10 yrs. Salvage value 200000. Method straight line.
Purchase new machine cost 5000000 with exchange of old machine in 2000000.
Calculate machine purchasing cost. Pass journel entry for machine cost and other than
cost. calculate dep for 2011 2012 2013 2014 2015 and 30 june 2016. gain or loss on
 exchange of machine). Create a trial balance. Create statement of profit and loss. Find
the cost of equipment shipped from outside, it's depreciation and profit/loss on disposal.
2. Adjustment entries
3. Balance sheet
4. Bank reconciliation
5. calculation of cost,
6. Cash flow
7. Depreciation
8. Depreciation gain/loss
9. Disposal
10. FIFO (Periodic method)
11. Fifo method
12. General journal
13. Income statement
14. Inventory valuation
15. Journal entry
16. Journal ledger
17. SOFP
18. SOPL
19. SOPL/SOCI
20. statement of cash flows
21. Trial Balance

For guidance regarding any subject (OL1 – SL1) or to join WhatsApp group
for study material, discussions and regular updates regarding ICMA contact
on:
Name: Arib Sarfaraz
Phone: 03352232888