EXPECTED QUESTIONS PAPER I BOOKS & BUDGET (Both long & short Answers)
1. What is Budgetary Control? How in railways it is used as an effective tool to control expenses and the various stages of Budgetary Control.
2. How Performance Budget is a better exercise over the traditional budget? Enumerate two examples from the Demand wise Out Put Units.
3. Earnings Budget is a cautious exercise in assessing the Revenue Earnings. Describe the stages in which the earnings budget of a Zonal Railway is prepared.
4. What do you understand by Integrated Budget? Describe the components of it .
5. Railways operate a large number of Suspense Heads. Discuss the need, the context and the method of operation of any THREE of them selecting one each from Earnings, Revenue and Expenditure and Works Expenditure. Is computerization of these accounts would improve efficiency?
6. The Public Accounts Committee of Parliament has repeatedly criticised the increasing trend of Misclassifications in Accounts and Mistakes in Budgeting. Present an analysis of the causes for these problems. Suggest appropriate steps to eliminate their recurrence
7. What is “Appropriation Accounts”? Annexure J is an index of the efficiency of the Accounts Department. Discuss how Southern Railway can minimise the number of instances brought under Annexure J
8. In the existing systems, the Closure of Accounts takes considerable time. Even then the booked expenditure does not reflect the actual and correct picture. Critically examine the procedure of monthly, quarterly and annual closing and examine the proposed online submission of Accounts Current from unit level to Railway Board would improve the situation. Also, indicate whether Approximate Account Current should continue
9. The present system of Closing of Accounts and Transfer Adjustments delay the availability of accounting information for decision-making. What are the areas in which this can be improved upon? 10. What are the sources out of which the Railway assets are created? Does the Railway need such different sources under the existing financial system of Railways?
11. What is the need for separate Audit by representatives of Comptroller and Auditor General with effective Internal Auditing within the system, can C& AG Audit can be dispensed with discuss in detail giving pros and cons.
12. Why the Parliament exercises Control over the Railway Finance and describe the steps in detail.
13. How Control over Expenditure is exercised in Railways? Describe in detail the various methods used to control expenditure with special reference to the latest order on reduction in expenditure and austerity measures
14. Describe the Role and Relevance of Traffic Book with reference to Traffic Suspense. How improvements can be made to reduce the outstanding?
15. What are the essential items to be inspected in the following field offices?
a. AEN‟s office
b. Goods sheds
c. Stores Depot
16. The role of Cash Office in making payment is redundant in the context of ECS/EFT mode of payment. Discuss the relevance of Cash Office in terms of its twin functions of payment and revenue collection.
17. What is Accounts Office Balance Sheet and what is the relevance in compilation of Earnings Budget?
18. Short notes ZBB and the application in railways, PRIME & AFRES Transfer transactions & TWFA
PAPER II TRAFFIC COSTING
1. Trace the historical background of Traffic Costing in the Indian Railways. What are the recommendations of the Task Force on Traffic Costing?
2. What is Green Book and define the various Schedules of Green Book?
3. Define the present day costing of EMU costing. Do you offer any suggestions for improvement?
4. How Coaching Costing is done in Indian Railways ? Describe any three Annexure.
5. What do you think of the merits and demerits of the present day Traffic Costing on the Indian Railways? 6. How for the present Traffic Costing can help in Train Costing when New Service/Train is introduced?
PAPER II MANAGEMENT ACCOUNTANCY
1. What do you understand by Ratio Analysis? Define any three analysis that are used in the Railways 2. What is Operating Ratio? Is it a Financial Ratio? Give reasons.
3. Highlight the importance of Sensitivity Analysis in evaluating investment proposals. How would you apply this to a proposal for a New Line Project?
4. What is Break-Even Point? Enumerate two areas it can be utilised to assess the financial viability of project/service
5. Capital Budgeting is done on the Profitability of the Project. Define how DCF technique is the better choice to assess the profitability
6. What is Capital Budgeting? What are the areas where in railways the Capital Budgeting techniques are used
PAPER II FINANCIAL JUSTIFICATION FOR PROJECT INVESTMENT
1. Financial justification for a. New Line b. Doubling c. Electrification d. Gauge Conversion
2. short notes: PERT, CPM 3. Time and Cost over run in Railway projects Give the reasons and remedies
PAPER II STORES ACCOUNTS
1. What is Inventory Control? How ABC analysis helps to have better control over inventories? Do you have suggestions to make?
2. Define the role of Stock Verification Organisation in the Railways. How it has helped Railways in controlling the stock on board and realisation of Auction Sales Earnings?
3. The role of Stock Adjustment Accounts in closing the Stores Inventory is very essential. Discuss
4. short notes: a. various suspense heads under Store Suspense Plan head 7200
5. enumerate the recent orders of the Railway Board on the negotiations with the suppliers/contractors
6. How far the system of purchase through Open Tenders ensured quality with economy and reliability? Should Railway change over to a system of identifying reliable suppliers with long term commitment in the interest of ensuring quality and reliability?
7. Higher Inventory Levels are preferable to “out of stock” situations. What are the economic and financial implications with reference to E O Q?
14 PAPER II GENERAL EXPENDITURE ACCOUNTS
1. What is the role of various types of tenders in the Indian Railways? Have they made the tendering system transparent?
2. What is material modification? What steps would you consider for accepting material modification?
3. What are the provisions of Arbitration Act? How these provisions prevent unnecessary and long legal battles in the context of Railway projects?
4. short notes on:
a. SD
b. EMD c. Performance Guarantee
d. variations/vitiations in works tenders
5. define the salient features of PWP and FWP
6. How the preparation of estimates is useful in assessing the quantum of expenses and the magnitude of earnings?
7. short notes:
a. inspection of field unit
b. M Book
c. book examination clause
d. fall clause
e. Force Majoure
e. Rider agreement
PAPER II WORKSHOP ACCOUNTS
1. Discuss the effectiveness of prevailing system of Incentive Payment in railway workshop. How is it an instrument for improving productivity with quality commensurate with investment for modernisation of the workshop?
2. There is growing feeling that “we should better privatise, better buy than make”. Why is this so? What role can stores and workshop accounts play to rationalise and ensure “makes”, more attractive than “buys” and reverse the trend?
3. The existing system of Incentive Payment encourages inefficiency and dilutes quality. Can you suggest any alternative system to improve productivity in the workshops?
4. The workshop out-turn statements truly and effectively reflect shop activities and efficiency of workshops accounts office”. Discuss with particular reference to checks to be exercised in the preparation of statement
5. Explain the linkage between Stores, WMS and Revenue Budget
6. How are POH debits settled between two zonal railways? What are the reasons or wide variation in POH costs in different workshops and what can be done to bring about uniformity?
7. what are the main documents of costing in the railway workshop? How the difference between the GAC hours and JC hours are reconciled? May god bless you all! Heart felt wishes to all!! May the best win the race!!!
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