FA | FINANCIAL ACCOUNTING | GUNSHOT IMPORTANT QUESTIONS | BBA | SEMESTER-2 | OU | @shivanipallela

[00:00:00]Many of you have requested regarding the financial accounting BBA semester two gunshot important questions. Here in this video we are going to discuss that.

[00:00:08]And the one more thing, why I'm uploading this video very lately means because I have to analyze the previous year questions and different colleges, different lectures will give the questions.

[00:00:19]I have analyzed everything and I have given the gunshot important questions of this financial accounting. These questions will be more than enough to get O grade in the subject. The students who want to pass in the subject, who want to score O grade in the subject, this video is for you only, okay? So don't skip the video because I will give you some tips how to learn, what questions to learn, what is most important out of the given questions also. Each and everything I will discuss. So don't skip the video. Make sure you note down the questions along with me, okay? So gunshot important questions as Usmania University website.

[00:00:58]So this is the official syllabus you are having. Unit number one foundations and conceptual framework. Unit number two is accounting cycle. Unit number three is adjustments and financial statement preparation. Unit number four is cash, bank and special accounting issues and the unit number five is reporting analysis and contemporary trends. So these are the syllabus you are having.

[00:01:23]Basically this is a problematic subject.

[00:01:26]So you need to cover both the problematic. You need to give preference to both theory itself also, okay? So first each unit I will give the long theory questions, short questions as well as the problematic methods. Like each unit I will give all these things, okay? So first unit we will discuss what is theory questions, what is a problematic methods, everything I will discuss. Unit number one, I have given only three three questions.

[00:01:55]Out of these three questions, now, need to be perfect any two questions, okay?

[00:02:00]So, see here, first important question, again I'm saying very very very important question is about the financial accounting. Either they may ask about the nature, scope, objectives, functions, anything they might be asking about the financial accounting. So, you need to learn about the financial accounting meaning, definition, and common points which covers nature, scope, and objectives. So, any question you can write that answer, like that, okay? Second most important question is about the GAAP and IFRS frameworks, okay? So, this is also one of the main question, and third question is about the accounting principles, concepts, and conventions. See these three questions, ma. Definitely one question will be in your question paper. My advice is this question and third question is most important, that is nothing about top two questions, okay? So, this is theory questions.

[00:02:50]Short questions, ma, this is for four marks. GAAP and IFRS, already whatever we will learn in long, that is only you will get short. Quali- qualitative characteristics of accounting information, users of accounting information, accounting principles, conventions, and concepts. This is the short questions for four marks, okay?

[00:03:11]Now, important problematic topic, important problematic, unit number one, no problematic, only theory, okay? If you are learning theory, means 12 marks you will attempt, four marks you will attempt, total 16 marks weightage.

[00:03:28]Passing is 32, half of the marks you can able to attempt from unit number one only. So, that's why unit number one is most scoring unit, as well as the students who want to pass also you can learn this unit, because no problematic, no? So, that's why, okay? So, unit number one is non-negotiable, definitely you need to learn the theory questions.

[00:03:48]Now, unit number two, uh we are need to give preference to the problematic also. Long questions, three questions only I have given. Sometimes we can expect one theory, one problematic. Sometimes both the questions they'll give problematic only from unit number two. So, that's why the students who want to like understand this unit, no, give priority more to problematic. If definitely you need to learn some knowledge in the theory also, that's why I have given only three questions. Here also, first question is most important accounting cycle. And third question is most important. Why not second question means if you are perfect with long problematic, that problem only we will write it here. Journal entries, trial balance, ledger posting. Problematic only you're having that topic. So, that only they're asking in the theory. How you are doing, same that only you need to copy paste in the theory wise. Okay?

[00:04:41]And coming back to the short questions, uh, double entry system, journal entries, ledger, trial balance. This is problematic, four marks we can expect.

[00:04:50]Problematic, journal entries, ledger, and trial balance. Okay? And what is the problematic part we need to learn? See here.

[00:04:58]Journal entries is most important. Trial balance is most important. Probability is gunshot. Very important. Okay?

[00:05:07]Rectification of errors, just just slightly you see it. Ledger posting also not much important. Only journal entries, trial balance preparation, and probability, most important. Okay? You need to be perfect with that. My suggestion will be go with the problematic only. Don't waste your time in learning theory. Okay? This is unit number two. Coming back to the unit number three, unit number three, coming back to the theory, here also preparation of trading account, profit and loss account, and balance sheet.

[00:05:38]This is nothing about whatever we are doing in the problematic, no, that you need to convert it into the theory. This is about the adjustment entries. This is also you can able to attempt. When you are perfect with problematic and this is also the easy only. So, my suggestion will be first and second question you can able to attempt when you are perfect with long problematic. If you know problematic, you'll understand that questions. You can write it the questions by your own.

[00:06:03]Coming back to the short questions also, these are the four short questions I have given my four of four theory questions only. Okay, my suggestion will be concentrate first on problematic, then long theory, then short. In this order you need to give preference, okay?

[00:06:17]What is [snorts] the problematic method?

[00:06:19]Balance sheet, trading account, P&L account, balance sheet, okay? Final accounts, these are three's combinedly one problematic only, that is final accounts, okay? So, trading account, P&L account and balance sheet is first method. Next important is about the depreciation, okay? Depreciation is also very, very important, okay? Adjustments only you'll have the depreciation and bad debts, no?

[00:06:41]Which it will comes in final accounts.

[00:06:43]When you're doing final accounts, you get adjustment you'll get the depreciation, you'll get the bad debts, no? That only, okay? So, this is about the unit number this.

[00:06:52]>> [snorts] >> Now coming back to the unit number four, ma. Unit number four you're having long questions. Three questions again I have given. First question is most important about depreciation. Here also this question you can able to attempt when you are perfect with problematic. In this unit also you need to give preference to the problematic. Second unit preference problematic, third unit also problematic, fourth also give preference to problematic only. Theory questions is just randomly I have given, okay? This is uh four marks, ma. Petty cash system, straight line method, this is problematic we can expect. RBM method, that is reducing balance method, provisions and reserves, okay? This is for four marks. Now coming back to the important problems.

[00:07:34]See here.

[00:07:35]>> [snorts] >> See here, what is the problems you're having? Depreciation compulsory question.

[00:07:40]Or else petty cash book. Depreciation, you are having two methods in depreciation. One is straight line method, second one is reducing balance method. And second topic is about the petty cash book, okay?

[00:07:52]These two problematic methods, if you are being perfect, means most importantly, you will cover the problematic concept. My suggestion will be go with the problematic only, don't go with theory. Okay? Even though if they are asking one theory, one problematic also, you need to give preference to the problematic only.

[00:08:10]Okay? Unit number five, long questions, ma. Theory questions I have given this in this. Ratio analysis is very important for theory. Cash flow statement is also important for theory.

[00:08:22]BRS, bank reconciliation also is important for theory. If you don't want to learn theory, if you want to learn problematic, means this is the short questions. BRS, cash flow statement, liquidity ratios, and AIS, okay? If you want to learn problematic, this is the problematic.

[00:08:38]What is that? BRS is first, then cash flow statement is next important, then ratio analysis most important, okay? So, these three problematics you are having.

[00:08:48]In this also, BRS is most important, cash flow is important, okay? Ratio analysis you can skip. Okay? So, this is about the thing. Here it is, probability is nothing about how much a chance we are getting the problematic from this particular unit, okay? In second unit, I have said that probability is a concept, but it is not a concept, ma. Here I have given like a majority of the problematic we can expect. Here, five on five, that means mostly they'll ask problematic from this unit, like that, okay?

[00:09:17]And most important units for your examination is like this. First, you need to give highest preference to the third unit, then second unit, then fifth unit, and last, fourth unit. These four units problematic only.

[00:09:32]First unit only theory you need to give preference.

[00:09:35]Third, second, fifth, and fourth is problematic only. You need to learn.

[00:09:40]Understood? So, this is about the subject, ma. I hope you have got clarity. Let me know in the comment section how many members watched the video till end. I want to know actually.

[00:09:49]Because many of the students were asking regarding the questions. So, I want to get to know really how many members watched the video till end.

[00:09:57]Okay? Or else simply some students will be there, ma. They will skip the voice over. Simply they will take the screenshots of the question and they will do learning. And if that is not coming in the examination, they will again shout on me. Again coming into the comment section. So, voice over why I'll give means I'll give most priority how you give how you need to prepare your preparation. Everything I'll tell no.

[00:10:19]So, that's why I'll ask you to watch the video till end. Okay? So, that's it about the video.

[00:10:24]Uh I hope that you have got a clarity.

[00:10:26]Still if you're having any further doubts, do let me know. See you all in next video, students. Bye-bye, everyone.