Advanced Accounting-III

Course Code No: 3201

Course Teacher: Leyakat Hossain Mahmood

Theoretical Questions

Chapter One: Bank and Insurance Accounts

Bank Accounts

1. Mention the principal books required in Bank Accounts.2. What is Slip System of Accounting? Discuss the workings of the system.3. What are the advantages and disadvantages of Slip System of Accounting?4. What are the rules for preparation of Final Accounts of Banks?5. Discuss the types of Reserve Fund.6. Define Deposit Accounts. Discuss the types of Deposit Accounts.7. Discuss the types of Advances.8. Short Notes: (i) Rebate on Bills Discounted/Unexpired Discount, (ii) Bad Debts

and Provision for Bad Debts, (iii) Money at Call and Short Notice (Overnight Loan), (iv) Non-banking Assets, (v)Clearing House.

Insurance Accounts

1. Discuss the important elements of Insurance.2. Discuss the classification of Insurance.3. What is Revenue Account and how it is prepared?4. Short Notes: (i) Premium, (ii) Claims under Policies, (iii) Annuity, (iv) Surrender

Value, (v) Bonuses, (vi) Re-insurance, (vii) Valuation, (viii) Consideration for Annuities Granted, (ix) Life Assurance Fund, (x) Registration Fees, (xi) Agent’s Balance.

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Chapter Two: Accounts of Public Utility Concerns

1. What is Double Account System?2. What are the objectives of Double Account System?3. What the features of Double Account System?4. What are the differences between the Single Account System and Double

Account System?5. Discuss the criticisms of Double Account System.6. Discuss about Accounts/ Final Accounts under Double Account System.7. Short Notes: (i) Revenue Account, (ii) Net Revenue Account, (iii) Capital

Account, (iv) General Balance Sheet.

Chapter Three: Accounting Aspects of VAT

1. What is VAT? Discuss the advantages and disadvantages of VAT.2. Discuss the Accounting and the Books kept compulsorily as regarding in VAT.3. Discuss the system of realizing VAT.4. Discuss the Keeping of Accounts/ Documents relating to VAT [Section 31 &

Rule 22].

Chapter Four: Accounts for Non-Profit Organizations

1. What is Non-trading Organization? Discuss the classes of Non-trading Organization.

2. State the differences between “Receipts and Payments” and “Income and Expenditure” Account.

3. Short Notes: (i) Receipts and Payments Account, (ii) Income and Expenditure Account, (iii) Capital Fund, (iv) Special Fund, (v) Donations and Legacies, (vi) Life Membership Fees, (vii) Subscriptions.

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Chapter Five: Accounting for NGOs

1. What information is generally contained in the Annual Program Report of NGO?

2. Discuss the basis for preparation of Financial Statements of BEP.3. Short Notes: (i) Donor’s Grants, (ii) Revenue Recognition, (iii) Assets, (iv)

Provisions for Liabilities.

Chapter Six: Accounting for Royalties

Short Notes: (i) Royalty, (ii) Minimum Rent/Dead Rent/ Sleeping Rent/Annual Rent/Fixed Rent/Certain Rent, (iii) Short workings.

Mohammad Ibrahim Arafat (Zico)

BBA (2nd Batch)

Department of Accounting & Information Systems

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