Accounts of Companies

ACCOUNTS OF COMPANIES
DP CLASSES │ CORPORATE AND OTHER LAWS
EXAM FOCUS 1
ABC Private Limited was incorporated on 15-09-2013 in the

State of Maharashtra by a group of professional engineers
without any knowledge about the maintenance of the books of
account. The company has appointed you as the chief
accounts officer at New Delhi where the books of account will
be maintained. Keeping the provisions of section 128 of
Companies Act, 2013, advise the management on:
a. The nature of books to be maintained
b. The period for which the accounts have to be preserved,

and
c. The steps to be taken if the books of account are to be kept

in New Delhi.
EXAM FOCUS 2
In relation to filling of financial statements of a company in

XBRL mode and by using the XBRL taxonomy, decide whether
the following companies are required to file the financial
statements in the said mode:
i) Grand Ltd., the subsidiary company of Tiny Ltd., which is

listed at Kolkata Stock Exchange.
ii) Prime Ltd., a company which has paid up share capital of

Rs 100 crore.
iii) Crafty Ltd., a company which has a turnover of Rs 400

crore.
iv) Comfort Ltd., a non – banking financial company.
WWW.DPCLASSES.ORG CA DEEPAK PANDIAN & CA ANEESH NOOR MOHAMMED

EXAM FOCUS 3
Prudent General Insurance Company Ltd. is engaged in the

general insurance business. The company is not listed in any
stock exchange in India but is a subsidiary of Reliable General
Insurance Company Ltd., listed at Bombay Stock Exchange.
The turnover of Prudent General Insurance Company Ltd is Rs
330 crore. Examining the provisions of the Companies Act,
2013, state whether the company is required to file XBRL
enabled balance sheet.
EXAM FOCUS 4
A Housing Finance Ltd is a housing finance company having a

paid up Share Capital of Rs 11 crores and a turnover of Rs 145
crores during the Financial Year 2017 – 18. Explain with
reference to the relevant provisions and rules, whether it is
necessary for A Housing Finance Ltd to file its financial
statements in XBRL mode.
EXAM FOCUS 5
The paid up capital of Western Zone Insurance Limited is Rs 7

crore. Point out whether the said company is required to file
Balance Sheets and Profit and Loss Account along with
Director’s and Auditor’s Report for the year 2013 – 14 by using
the XBRL taxonomy under the Companies Act, 2013?

EXAM FOCUS 6
The financial statement of AS Limited have been signed by two

directors A and B. The board comprises of a third director C,
who is also the Managing Director. The company has also
employed a full time secretary. Examine whether the
authentication of the financial statements is in accordance
with law.
EXAM FOCUS 7
ABC Limited has on its Board, four Directors viz. W, X, Y and Z. In

addition, the company has Mr. D as the Managing Director.
The company also has a full time Company Secretary, Mr.
Wise, on its rolls. The financial statements of the company
Balance Sheet and Statement of Profit & Loss and the Board’s
Report for the year ended 31st March 2015 were authenticated
by two of the directors, Mr X and Y under their signatures.
Referring to the provisions of the Companies Act, 2013:
i) Examine the validity of the authentication of the Balance

Sheet and Statement of Profit & Loss and the Board’s
Report.
ii) What would be your answer in case the company is a One

Person Company (OPC) and has only one Director, who
has authenticated the Balance Sheet and Statement of
Profit & Loss and the Board’s Report?

EXAM FOCUS 8
Rera Ltd is a company incorporated under the Companies Act,

2013 having turnover of Rs 100 crore, net profit Rs 3 crore,
accumulated loss of Rs 50 crore and securities premium Rs 300
crore as per the audited accounts of the company for the
Financial Year 2016 – 17.
The CFO of the company informed the directors of the

company that the Corporate Social Responsibility (CSR)
committee is required to be constituted as per the Companies
Act, 2013. The directors seek your advice as a professional
regarding the criteria required to constitute CSR committee
and whether it is applicable to Rera Ltd. or not.
EXAM FOCUS 9
Super Real Estate Limited, a listed company has made the

following profits; the profits reflect eligible profits under the
relevant section of the Companies Act, 2013.
Financial Year Amount (Rs in crores)
2011 – 12 20
2012 – 13 40
2013 – 14 30
2014 – 15 70
2015 – 16 50

i) Calculate the amount that the company has to be spend

towards CSR.
ii) Give the composition of the CSR committee of a listed and

unlisted company.
iii) Will the company suffer penalties if they fail to provide for
or incur expenditure for CSR?
List only two activities that are expressly prohibited from being
considered as CSR activities

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ACCOUNTS OF COMPANIES

DP CLASSES │ CORPORATE AND OTHER LAWS

ABC Private Limited was incorporated on 15-09-2013 in the

a. The nature of books to be maintained

b. The period for which the accounts have to be preserved,

c. The steps to be taken if the books of account are to be kept

In relation to filling of financial statements of a company in

i) Grand Ltd., the subsidiary company of Tiny Ltd., which is

ii) Prime Ltd., a company which has paid up share capital of

iii) Crafty Ltd., a company which has a turnover of Rs 400

iv) Comfort Ltd., a non – banking financial company.

WWW.DPCLASSES.ORG CA DEEPAK PANDIAN & CA ANEESH NOOR MOHAMMED

Prudent General Insurance Company Ltd. is engaged in the

A Housing Finance Ltd is a housing finance company having a

The paid up capital of Western Zone Insurance Limited is Rs 7

WWW.DPCLASSES.ORG CA DEEPAK PANDIAN & CA ANEESH NOOR MOHAMMED

The financial statement of AS Limited have been signed by two

ABC Limited has on its Board, four Directors viz. W, X, Y and Z. In

i) Examine the validity of the authentication of the Balance

ii) What would be your answer in case the company is a One

WWW.DPCLASSES.ORG CA DEEPAK PANDIAN & CA ANEESH NOOR MOHAMMED

Rera Ltd is a company incorporated under the Companies Act,

The CFO of the company informed the directors of the

Super Real Estate Limited, a listed company has made the

Financial Year Amount (Rs in crores)

WWW.DPCLASSES.ORG CA DEEPAK PANDIAN & CA ANEESH NOOR MOHAMMED

i) Calculate the amount that the company has to be spend

ii) Give the composition of the CSR committee of a listed and

WWW.DPCLASSES.ORG CA DEEPAK PANDIAN & CA ANEESH NOOR MOHAMMED

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