DRIVE
PROGRAM
SEMESTER
SUBJECT CODE &
NAME
BK ID
CREDIT
MARKS
SOE
WINTER 2014
B.COM
IV
BCC 402 & CORPORATE ACCOUNTING
B1743
4
60
Total Marks
Marks
Q.No
Criteria
Explain profit or loss prior to incorporation. List the steps to be taken for the
1
apportionment of profit between pre-and post-incorporation periods.(10 marks)
A
Unit No- 6 Sub.Section-6.3 Pg.Nos-180,181
A company comes into existence from the date
of issue of the certificate of incorporation by
the Registrar of Companies. Sometimes, a
newly incorporated company agrees to take
over a running business w.e.f. a date prior to its
incorporation.
The steps to be taken for the apportionment of
profit The gross profit to the business should
generally be calculated for the full period
without apportioning it between pre- and postincorporation periods.
2
A
5
10
5
Discuss the five steps for a reconstruction scheme of a company. (10 marks)
Unit No- 7 Sub.Section-7.5 Pg.No-210
The steps taken for drafting a reconstruction
scheme:
 Estimation of loss
 Writing off the loss
 Compensating the parties
 Arrears of preference dividend
 Additional working capital
10
3
Discuss the points of distinction between the pooling of interest and the purchase method
of amalgamation. (10 marks)
A
Unit No- 8 Sub.Section-8.3 Pg.No-235
4
Distinction Pooling of interest method of accounting is
applicable for amalgamation in the nature of
merger. This method of accounting is
applicable for amalgamation in the nature of
10
purchase.
 Applicability
 Incorporation of Assets and
Liabilities
 Goodwill or Capital Reserve
 Amalgamation Adjustment
Account
Explain the meaning of liquidation of a company and enumerate the modes of
liquidation. (10 marks)
A
Unit No-9 Sub.Section- 9.2 Pg.No-294
MeaningLiquidation or winding up of a company is a
process by which dissolution of a company is
brought about and its property administered
for the benefit of its creditors and members.
Thus, liquidation or winding up ultimately
leads to dissolution of a company.
5
10
Modes of winding up A company may be wound up in any of
the following three ways: (1) Compulsory
5
winding up
(2)
Voluntary winding up
(3)
Winding-up under the supervision of the
court.
5
Discuss the five problems that are solved in the preparation of a consolidated balance
sheet. (10 marks)
A
Unit No-10 Sub.Section-10.3.1 Pg.No-331
6
A
Explanation for the problems involved in the
preparation of a consolidated balance sheet (any
5) Elimination of Investment in Shares of
10
Subsidiaries Account
 Minority Interest
 Cost of control
 Capital profits and revenue
profits
 Inter-Company Transactions
 Contingent Liabilities
 Unrealised profits
Explain the accounts and audit of statutory corporation. (10 marks)
Unit No- 11 Sub.Section-11.3 Pg.No-375,376
Accounts of statutory corporation –
A statutory corporation has also to maintain
proper books of account so as to give a true and
fair view of its state of affairs. It has to follow
the fundamental accounting principles in
maintenance of its books of account.
Audit of statutory corporation The Comptroller and Auditor General of India
has the power to audit the accounts of statutory
corporations in accordance with the provisions
of the respective legislations under which such
corporations are established.
*A-Answer
5
10
5