PS Gazetted post Question paper 2020- SCR

 PS Gazetted post Question paper 2020- SCR

70% question paper of SWR AFA 2020 year

 

Click for 70% question paper of SWR AFA 2020

International Accounting Day - 10th November (1494 year)

 

INTERNATIONAL ACCOUNTING DAY TIMELINE

1494

Luca’s Literature

'The Father of Accounting,' - Luca Pacioli, introduces the double-entry bookkeeping system with his publications.

1851

Adding machine invented

Charles Xavier Thomas de Colmar invents the arithmometer, triggering the shift toward computations completed by machines.

1854

First professional accountants' organization

The Institution of Accountants in Glasgow become the first official organization representing and regulating the accounting profession. ​

1973

Let’s Make This (More) Official

The Financial Accounting Standards Board (FASB) is established in the United States.

2001

The Enron scandal

Enron's bankruptcy proved to be an audit failure in American history, bringing new regulations to the accounting profession. ​

On cost charges in Workshops

 On cost charges in Workshops

• Source: Click for 6th chapter of I.R. Rolling Stock Code

• Meaning: 

1. The expenditure which cannot be directly allocated to the product or service and

2.  can only be apportioned on some logical basis

• Another name is Overheads

• On Cost charges - 3 types

1. Shop On Cost (SOC)  - comprising Labor and Materials

2. General On Cost (GOC - comprising Labor and Materials

3. Administrative On Costs (AOC) .  Also called as Proforma On Cost (POC)

• On costs are always expressed and levied as a percentage of Direct labour including incentive Bonus and overtime paid in that work order.

•  Annual Budgeting is required. 

• Shop On cost and General On cost need to be charged to all types of works executed at the workshop irrespective of their nature.

• Quarterly Review: 

1. A review of efficiency of overhead percentages should be made quarterly with reference to total actual expenditure incurred vis-à-vis that recovered at the overhead percentages.

2. A comparison of these actual overheads with recoveries made through estimated percentages will reflect over/under charges for the month under different overheads

3. If these are found unduly large, the percentages are revised without waiting for the Annual On cost Budget so as to minimize the difference between the actual and the predetermined percentage.

4. The Under / Over charges at the end of the year should be less than 5% so as to make On cost budget realistic and the same must be cleared through the final Heads before the end of the Financial Year.

5. Senior scale/JA grade executive officer in charge of Production Control Organization should review the trend of on-cost budget every quarter, jointly with workshop Accounts Officer

6. The outcome of this review in the form of management summary shall bring to the knowledge of Chief Workshop Manager for the management review and ‘on-cost’ control exercise

Shop On Cost (SOC)

• All on cost incurred within a Shop or Section.  Examples are 

1. Wages, overtime etc. of Shop apprentices, JEs, unskilled labour. 

2. Leave pay, idle time, sick hurt and holiday pay, travelling allowances and arrear pay, and pay allowed to men on volunteer duty or part-taking in sports.

3. Shop scrap (credit)

4. Stationery and forms

5. Defective and spoilt work, in the case of experimental work

6. Power chargers, whether electric pneumatic, gas or hydraulic which can be directly allocated to shops.

7. Wages of operators of automatic machines, not otherwise allocated

8. Wages, overtime etc. of men employed on mechanical transport in the shop

9. Wages, overtime etc. of all general labour in shops including those employed on transport.

10. Hammer driving in shops

11. Small differences between muster rolls and time sheets

12. Consumable stores (Lubrication oil, waste, sponges, etc.)

13. Charges for coal and coke in the smithies

14. Lighting charges in shops

15. Fine creditable to works

16. Suspension allowances

17. Wages etc. of shop messengers

18. Working expenses of crane and shunting engines, lorries, autotrucks, traversers etc.

19. Small tools for shop use

General On Cost (GOC)

•  Denotes all On cost charges common with more than one Shop. Examples are:

1. Wages and allowances of staff of Yard shop

2. Wages & allowances of Workshop apprentices not attached to shops. 

3. Freight charges .

4. Electrical power.

5. Hydraulic and pneumatic power and gas

6. Replacement of articles stolen or lost

7. Expenditure on apprentices’ school and hostel

8. Working expenses of crane and shunting engines, lorries, auto trucks, traversers etc.,

9. Working expenses of central works pumping plant.

10. Experimental work

11. Water charges

12. Sanitary arrangements

13. Messengers’ wages, uniforms etc.

14. Consumable stores for general use

15. Maintenance of mess rooms

16. Yard lighting.

Administrative On Cost  or Proforma On Cost

•  Charged  -   percentage of direct labour  - to RSP works and all works done for outsiders. 

• Profit will also be charged for work done for outsiders.

• To  make competitive, GM can waive whole charges or reduce with concurrence of PFA. 

 

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Questions analysis (short and Essay) - GRP paper in Appendix3 exam

 

Compiled by Shri Sreedhar, AA/Secunderabad Division

Click for Repeated Short notes questions in GRP paper of Appendix3 exam

Click for Essay questions in GRP paper of Appendix3 exam

Essay Questions - Repeated ones in GRP paper in Appendix3 exam

1	What are the various Railway Funds that are financed from Railway Revenues? For what purpose is the amount in each Fund utilised and how is this purpose served when there is insufficient balance in the Funds?	1983	1988	1993	1999	2001	1982	1986	2006
2	What do you understand by ABC analysis in Inventory Control?  Has it proved useful on the Railways?	1983	1985	1989	1992	2010
3	How Traffic Book is reconciled with the General Books?	1983	1997
4	Distinguish betweed Exchequer Control and Budgegary Contorl and discuss in detail the links between the two.  How are these controls exercised on your Railway? Role of cash budget as a tool of expenditure control(i.e. exchequer cont)	1983	1993
5	What is a 'Station to Station' rate? Under what circumstances it is justified? What safeguards would you suggest to avoid any misuse of such a rate?	1983	2000
6	Describe the appropriation accounts alongwith various annexures.  What are reasons for misclassification of expenditure?	1984	1987	1992
7	Describe the system of classification, collection, and distribution of the ON-COST expenditure in Railways Workshops.	1984	1987
8	Discuss how transfers of stores from one Depot to another Depot on the same Railway are dealt within Stores Accounts. What are the various types of items that are adjusted through the Stock Adjustment Account and with what effect?	1984	1990	1994	2016 short
9	Discuss the station outstandings arise and how these are cleared.  What types of these outstandings tend to remain uncleared for long periods and why?	1984	1994
10	How Traffic Account and Demands Payable are said to help in converting commercial accounts to Government accounts. Discuss this by giving examples	1985	2010
11	Enumerate the various Advances of Government money available to employees.  What are the main features of House Building Advance?	1985	1988
12	Describe the journey of station earnings from Railway Station to the Railway Account in the Reserve Bank of India.	1985	2006
13	How are surplus and scrap stores disposed of?  How are the sales shown in the books of accounts at different stages?	1985	2004
14	Describe in detail the procedure by which the Parliament exercises control over Indian Railway's Finances?	1986	1993	1997	2015
15	what is common between the heads "Traffic Account", "Labour" and "Demands Payable"? Describe how they are operated and what is their utility?	1986	1993
16	What are the "Funds" operated on the Indian Railways?  How are they financed and for what purpose are they used?	1986	1992
17	Mention three types of Frauds that are possible in connection with Railway working and discuss in detail the procedural safeguards that exist which will ensure their detection.	1986	1994
18	Comment briefly on importance of local inspections.  What important points you would look into while inspecting a major Goods Shed or a major Stores Depot or the Office of AEN? How will you bring important irregularities to the notice of Executive Depatements?	1987	1990
19	Explain the terms "SHOP-ON-COST", "GENERAL-ON-COST" and "PROFORMA-ON-COST".  Why and how are they levied on work done in a Railway Workshop? Click for Answer	1987	1984	1988	1999	2001	2006
20	What is meant by "Traffic Suspense" and what does it consist of ?  What practical steps would you suggest for expenditious clearance of outstandings under this head?	1987	1992	1996	2010
21	What are the different sources of obtaining stores for the Railway and what precautions are taken to ensure that they have been procured in the most economical manner and as exdpeditiously as possible? Procurement of Stores.	1987	1993
22	Why is stock verification necessary?  What is the mechanism for stock verification on Railways?  How are the results of such verification recorded and dealt with?	1987	1999	2004	2006	2015	2016
23	Describe briefly the procedure for remittance of cash by stations.  What checks are exercised to ensure that the cash collected at the stations is correctly remitted?  Do you have any suggestions to give in this regard?	1987	1992	1999
24	Stations prepare Balance Sheet.  Why should then separate Accounts office balance sheet be prepared?	1989	2017
25	Role of Audit and Audit objections on the Railways?	1990	2016
26	Workshop Manufacturing Supsense (WMS)	1990	1992	1996	2004	2010	2016
27	Inspection of GOODS SHED, STORES DEPOT, PARCEL OFFICE, IOW OFFICE, TXR's office	1990	1982	1993
28	Arbitration clause	1993	2010
29	Estimates	1994	1995	1996
30	How the check exercised by the organisation of Principal Director of Audit(Statutory Audit) is different as compared to the one exercised by Accounts Department?  Discuss very briefly the various forms in which Audit Objections are compiled and communicated.	1996	2016
31	What do you understand by Budget and how the Budged for expenditure is compiled on Indian Railways?  Also discuss briefly the various stages of its review.	1996	2016
32	TENDERS	1996	2004
33	What are the various parts of Traffic Book? While discussing the importance of each part, explain how Traffic Accounts office proves their accuracy?	1997	2004	2016
34	Prepare a check list for guidance of an accounts officer of the store accounts branch attendint Tender Committee meeting	1997	2016
35	Is it necessary to maintain a single set or a double set of works register?  Please discuss, highlighting the merits and the demerits.  What are the main problems being encountered for drawing up the Completion Report of a Work?	1999	2006
36	Bills recoverable	1999	2017
37	Detail the types of frauds which cannot be detected by internal check of station returns in the Traffic Accounts Office, explaining the TIA's role in this regard.	2001	2006
38	What is specific fuel consumption?  Describe measures to reduce it	2015	2016