ANIKET GANGWAL (160618@icai.

org)
Status : Pass
Assessment Date : 25-10-2020 12:06:32 (GMT+05:30)
Performance Level : Excellent

10.00 10.00 6.00

Your Total Assessment Cut-Off marks
Score Score (Pass Marks)

100.00 E
Your Performance
Percentage Category

This report helps you to achieve your targets

as per below stated objectives:
Improve your conceptual understanding
Address specific areas of improvement personalized
to you

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 Performance Categories
Based on the performance of the students, we have framed the following categories to place you in accordance with your performance

Performance Category Definitions

Excellent
Outstanding level of performance indicates that the candidate has done excellent work and mastered the concepts.
High
High level of performance indicates that the candidate has done above average work and mastered almost all the concepts.
Moderate
Acceptable level of performance indicates that the candidate has done average work and has mastered many of the concepts.
Low
Needs improvement in performance indicates that the candidate has done and mastered very few or none of the concepts.

Performance Criteria

PERFORMANCE CATEGORY RANGE

Excellent 91% to 100% of Max Marks

High 81% to 90% of Max Marks

Moderate 61% to 80% of Max Marks

Low Below 60% of Max Marks

Performance Category based on student marks

SECTION (GROUP) EXCELLENT HIGH MODERATE LOW

INDASBATCH13DAY16 (IND AS ) 9.10 and above 8.10 to 9.00 6.10 to 8.00 Below 6.00

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 SECTION (GROUP) EXCELLENT HIGH MODERATE LOW

Overall Score 9.10 and above 8.10 to 9.00 6.10 to 8.00 Below and equal to 6.00

Where do you stand?

SECTION (GROUP) SCORE PERFORMANCE CATEGORY

INDASBATCH13DAY16 (IND AS ) 10.00 / 10.00 E

Overall Score 10.00 / 10.00 E

Recommendations and Suggestions

1. Based on your overall scores:
Your overall score falls in the E category. Congratulations.
2. Based on your section-wise performance:
You seem to be strong in INDASBATCH13DAY16. So it is suggested that you attempt INDASBATCH13DAY16 section first
3. Some general suggestions to optimize your score:
The best performers plan and allocate equal time to each section.

Overall Performance Analysis

The below table shows section-wise analysis of marks scored by you, time spent by you, your percentage, your accuracy and number of correct, incorrect,
unanswered and marked for review questions.

TIME MAX NO OF
MARKS SPENT YOUR YOUR TOTAL QUESTIONS QUESTIONS MARKED
SECTION (GROUP) SCORED BY YOU SECTION SECTION QUESTIONS - TO ATTEMPTED CORRECT INCORRECT UNANSWERED FOR
BY YOU (IN PERCENTAGE ACCURACY ATTEMPT REVIEW
MINS)
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 TIME MAX NO OF
MARKS SPENT YOUR YOUR TOTAL QUESTIONS QUESTIONS MARKED
SECTION (GROUP) SCORED BY YOU SECTION SECTION QUESTIONS - TO ATTEMPTED CORRECT INCORRECT UNANSWERED FOR
BY YOU (IN PERCENTAGE ACCURACY ATTEMPT REVIEW
MINS)

INDASBATCH13DAY16
10.00 1:16 100.00% 100.00% 10 10 10 10 0 0 0
(IND AS )

Total 10.00 1:16 100.00% 100.00% 10 10 10 10 0 0 0

Note:The percentage (%) and accuracy below the prescribed values (60 %) are shown in red color

Below pie-chart shows section-wise percentage of marks scored

Section-wise marks

INDASBATCH13DAY16, 10

INDASBATCH13DAY16

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 Impact of Incorrect Responses
Below table provides the marks lost due to incorrect responses.

SECTION(GROUP) NUMBER OF INCORRECT RESPONSES MARKS LOST DUE TO INCORRECT RESPONSES TOTAL SCORE IF INCORRECT RESPONSES WERE NOT MARKED

INDASBATCH13DAY16(grp1) 0 0 10

Overall 0 0 10.00

In order to attempt more accurately, consider the following suggestions while attempting the questions:
1. If you are not able to solve a question correctly or have doubts in your approach towards the solution, skip it for later.
2. Quickly revise the steps for avoiding calculation or casual mistakes.
3. Avoid guesswork.

Overall Preparedness Analysis

The below table represents the percentage of correct questions achieved at the analysis level.
Conceptual errors, for which you would require more reading and understanding of concepts.
Minor or careless mistakes, for which you would require a more composed and calm approach towards solving the question paper.

Time Management
Below table shows the time you spent in each section.

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 SECTION (GROUP) TIME SPENT BY YOU (IN MINS)

INDASBATCH13DAY16 (IND AS ) 1:16

Total time spent 1:16

Recommendations
1. It is essential for each aspirant to plan and schedule time for each section diligently. This is important to score well in each section and ultimately meet the cut-
off.
2. This will also help you in attempting all the questions in each section and hence not missing the opportunity to score more.

Response Change Pattern

Below table provides the number of times you have changed your responses while answering the test and also the nature of those response changes.

SECTION(GROUP) CORRECT TO INCORRECT INCORRECT TO CORRECT INCORRECT TO INCORRECT CORRECT TO UNANSWERED INCORRECT TO UNANSWERED

INDASBATCH13DAY16 (IND AS ) 0 0 0 0 0

Overall 0 0 0 0 0

It is suggested that guesswork should be avoided for any type of response changes. It has been observed that more often than not, guesswork leads to an incorrect
response thereby inviting negative marks which in turn has an adverse effect on the overall rank.
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You must use your knowledge observation and elimination skills to arrive at the correct answer
You must use your knowledge, observation and elimination skills to arrive at the correct answer.

Interpretation and Suggestions

1. Incorrect to incorrect response change:
You may need to work more on the concept level, in order to gain confidence.
2. Incorrect to correct response change:
At the first glance you were not very sure about the solution.
You must spend at least 1 minute per question and if you are not able to reach to the solution, you must revisit the question to enhance your score.
Perform this response change only when you are confident or have spotted a mistake in the solution of your first response.
3. Correct to incorrect response change:
You are not sure of the solution and have either applied a wrong concept or made a calculation mistake.
You need to practice more questions on the same concept.
4. Correct to unanswered response change:
You are not sure of the solution
You need to practice more questions on the same concept.
Perform this response change only when you are not confident of your solution.
You must try to spend at least 1 min before leaving it unanswered.
5. Incorrect to unanswered response change:
Your judgment of avoiding negative marks is right.
You must try to spend at least 1 min before leaving it unanswered.

Overview: INDASBATCH13DAY16
The below table provides your marks in INDASBATCH13DAY16 along with the average marks scored by the others (students who cleared this assessment) and the
marks scored by the topper.

MARKS SCORED BY YOU YOUR SECTION PERCENTAGE YOUR SECTION ACCURACY TIME SPENT BY YOU (IN MINS)
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 MARKS SCORED BY YOU YOUR SECTION PERCENTAGE YOUR SECTION ACCURACY TIME SPENT BY YOU (IN MINS)

10.00 / 10.00 100.00% 100.00% 1:16

Note:The percentage (%) and accuracy below the prescribed values (60%) are shown in red color

Question wise Analysis

Correct, 10 Marked for Review, 0

UnAnswered, 0
InCorrect, 0

Correct InCorrect UnAnswered Marked for Review

Performance Analysis: INDASBATCH13DAY16

1. The below table analyzes your performance at question level
2. It highlights conceptually strong and improvement areas within the section and areas that require reinforcement of concepts. /
3. The accuracy of the response to each question and time spent are correlated and interpreted in terms of expert advice on preparedness level.

Question wise details

Please click on question to view detailed analysis

= Not Evaluated = Evaluated = Correct = Incorrect = Not Attempted = Marked for Review
= Answered = Correct Option = Your Option

Question Details

Q1. If payment of an item is deferred and there is significant financiang, the consideration received is recognized initially at the

Status : Correct

Options :

1. a) Fair value of assets given

2. b) fair value of assets received
3. c) cash price equivalent
4. d) amount of consideration

Timespent (in sec): 11 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Comments: You are on the right preparation track on this topic.

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 Q2. A TV manufacturer sells TV sets to its dealers at the list price of Rs.10,000 per TV. If a dealer takes more than 8,000 sets during
the contract period,then it is eligible for a discount of 5% on the list price retrospectively (i.e. for all sets purchased since the
commencement of the agreement). The contract period starts in June and ends in May of each year. On the reporting date, i.e., March
31, 2018, a particular dealer has purchased 5,000 sets. Based on the past trends, it is expected that the total purchases to be made by
dealer during the contract period up to May 2018 will be more than 8,000 sets.Should revenue be adjusted for the discount expected to
be availed by such a dealer?

Status : Correct

Options :

1. Yes
2. No

Timespent (in sec): 8 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Comments: You are on the right preparation track on this topic.

Q3. Entity AB Ltd. enters into a three-year service contract with a customer CD Ltd. for Rs.4,50,000 (Rs.1,50,000 per year). The
standalone selling price for one year of service at inception of the contract is Rs.1,50,000 per year. AB Ltd. accounts for the contract
as a series of distinct services.At the beginning of the third year, the parties agree to modify the contract as follows:(i) the fee for the
third year is reduced to Rs.1,20,000; and(ii) CD Ltd. agrees to extend the contract for another three years for Rs.3,00,000 (Rs.1,00,000 per
year).The standalone selling price for one year of service at the time of modification is Rs.1,20,000. What is the amount of revenue that
is reqiured to be booked for year 3?

Status : Correct

Options :
1. a) Rs. 100,000
2. b) Rs. 150,000
3. c) Rs. 105,000
4. d) None of the above

Timespent (in sec): 5 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Comments: You are on the right preparation track on this topic.

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 Q4. Entities A Ltd. and B Ltd. are both engaged in the extraction and supply ofnatural gas to different parts of India. A Ltd. is located
in western India while B Ltd. is located in Southern part of India. A Ltd. contracts to supply natural gas to a large corporate customer,
XL Ltd., located in the South-eastern region of India, who is engaged in supply of natural gas to homes. B Ltd. on the other hand
contracts to supply natural gas to YS Ltd. which is located closer to A Ltd. Consequently, A Ltd. purchases from B Ltd. to supply natural
gas to YS Ltd. and B Ltd. purchases from A Ltd. to supply natural gas to XLLtd. The price of natural gas for this transaction would be
based on actual delivery date of gas by either party. Further, the parties would do a monthly calculation of supplies and receipts of gas
and do a net settlement based on the prices calculated as above. In the said industry, price varies based on different product categories
and also varies based on point of sale. Does this transaction is in the scope of Ind AS 115?

Status : Correct

Options :

1. Yes
2. No

Timespent (in sec): 11 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Comments: You are on the right preparation track on this topic.

Q5. Can the amount of revenue recognised for a particular transaction in the financial statements be different from the amount of
sales for the purposes of GST?

Status : Correct

Options :

1. Yes
2. No

Timespent (in sec): 7 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Comments: You are on the right preparation track on this topic.

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 Q6. NJ Ltd. enters into a contract to build a house for a customer. NJ Ltd. is responsible for the overall management of the project
and identifies variousgoods and services that are provided, including architectural design, site preparation, construction of the
house, plumbing and electrical services andfinish carpentry. NJ Ltd. regularly enters into such contracts with customers to sell these
goods and services individually to them.How many performance obligations are in the contract?

Status : Correct

Options :

1. a) One
2. b) Four
3. c) More than one
4. d) None of the above

Timespent (in sec): 8 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Comments: You are on the right preparation track on this topic.

Q7. Does Ind AS 115 apply to real estate developers?

Status : Correct

Options :

1. Yes
2. No

Timespent (in sec): 5 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Comments: You are on the right preparation track on this topic.

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 Q8. Prime Ltd. is a technology company and regularly sells Software S, Hardware H and Accessory A. The stand-alone selling prices
for these items are stated below:Software S – Rs.50,000Hardware H – Rs.1,00,000 andAccessory A – Rs.20,000.Since the demand for
Hardware H and Accessory A is low, Prime Ltd. sells H and A together at Rs.100,000. Prime Ltd. enters into a contract with Zeta Ltd. to
sell all the three items for a consideration of Rs.1,50,000.What is the allocated revenue for each of the items considering that the three
items are three different performance obligations which are satisfied at different points in time?

Status : Correct

Options :
1. a) Software S – Rs.44,118Hardware H – Rs.88,235 andAccessory A – Rs.17,647
2. b) Software S – Rs.50,000Hardware H – Rs.83,333 andAccessory A – Rs.16,667
3. c) Software S – Rs.50,000Hardware H – Rs.50,000 andAccessory A – Rs.50,000
4. d) None of the above

Timespent (in sec): 6 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Comments: You are on the right preparation track on this topic.

Q9. Company A is a telecommunication company that pays discretionary annual bonus to its employees of the sales department
based on annualsales target, EBITDA target and employees’ ratings. Will the annual bonus be incremental cost of obtaining contracts
and hence eligible forcapitalisation?

Status : Correct

Options :

1. Yes
2. No

Timespent (in sec): 8 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Comments: You are on the right preparation track on this topic.

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 Q10. Which if the following contracts can qualify to be contract with customer under Ind AS 115 if conditions laid down in the
standard are fulfilled?

Status : Correct

Options :

1. Oral contract
2. written contract
3. Contracts as per business practice
4. All of the above

Timespent (in sec): 7 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
Comments: You are on the right preparation track on this topic.

Your Response Change Pattern: INDASBATCH13DAY16

The below table provides the number of times you have changed your responses to the INDASBATCH13DAY16 questions and also the nature of those response
changes.

CORRECT TO INCORRECT INCORRECT TO CORRECT INCORRECT TO INCORRECT CORRECT TO UNANSWERED INCORRECT TO UNANSWERED

0 0 0 0 0

Error Identification and Rectification: INDASBATCH13DAY16

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