1. What is Accounting Standards? How do they differ from Accounting Concepts? Why should the accounting practices be standardized?
2. What do you understand by Zero Base Budgeting? Discuss the steps that
are involved in the preparation of Zero Base Budgeting and describe its advantages over a traditional budget.
3. What do you mean by DCF techniques of Capital Budgeting? Briefly
explain the NPV method and IRR method. Which of the two would you
rank better and why?