Sukesh .C.Khajuria, a social activist and former member of prominent citizen’s Advisory Committee constituted by the state government has submitted a representation to Prof.R.D. Sharma vice – Chancellor University of Jammu regarding discrepancies in the Examination Paper of Advanced Corporate Accounting course No. BCH-604 of B.Com Hons. VI semester Degree Examination held on 3rd May 2018.
A copy of the representation has also been submitted to Shri.NarinderNathVohra, Governor of J&K State who is also Chancellor of University of Jammu, Ms Mehbooba Mufti, J&K Chief Minister, Pro-Chancellor of University of Jammu ,Mr. PrakashJavadekar ,Union Human Resources Development Minister and Mr.Imran Raza Ansari Ministerfor Higher Education ,J&K.
Emboldened by Valued thoughts from the desk of Vice Chancellor, University of Jammu that ” The university of Jammu has a firm commitment to academic Excellence and is updating its syllabi regularly to meet the market challenges” Sukeshc.Khajuria in his representation brought to his notice a matter of urgent importance concerning future of youth of J&K.
Sukeshc.Khajuria a student of accountancy who has been teaching accountancy subject since 1978 has stated that the name of Examination has been titled Advanced Corporate Tax instead of Advanced Corporate Accounting which should be the correct name. Secondly Q.No.2 (4 Marks) – Section A and Q.No.3 (12 Marks) based on redemption of debentures by sinking fund method has not been in the syllabus of the course.
Khajuria point out that in Q.No.6 (12 Marks) – Section B accounting standard AS-14 has been referred. Recently AS-14 has been replaced by Ind AS-103 “Business Combinations” issued by the institute of Chartered Accountants of India.
This standard is applicable in respect of accounting periods commencing on or after 1st April 2015 and is mandatory in nature.
The Revised Schedule VI now renumbered as schedule III in the companies Act; 2013 has prescribed the forms for Balance sheet and Statement of P&L in vertical form in which every company must prepare its Balance sheet and statement of P&L for the financial year commencing on or after 01-04-2011 .However in the examination we are still continuing with horizontal form.
The Prescribed form of companies Balance sheet prefixes ‘At’ instead of ‘on’. The word ‘on’ refers to the entire duration (which consist of 24hrs.of the day) where as the word ‘At’ refers to a specific point of time.
It is appropriate to use the word ‘At’ instead of ‘on’ in the question paper which is not being used till date.
The Indian rupee symbol ? (sign ?; code INR) the currency sign for the Indian rupee, approved by the union cabinet on 15th July 2010 should be used in the question papers which is not being used till date.