RAJASTHANI Co-operative Society Ltd has borrowed a sum of US $ 12.50 million at the commencement of the Financial year 2017-2018 for the solar energy project at LIBOR (London Interbank Offered Rate of 1%) + 4%. The interest is payable at the end of the respective financial year. The loan was availed at the then rate of 45 to US dollar while the rate as on 31st March, 2018 is 48 to the US dollar. Had RAJASTHANI Co- operative Society Ltd borrowed the Rupee equivalent in India, the interest would have been 11%.

The syllabus (with weightage):
A. GAAP and Accounting Standards 20%
B. Accounting of Business Combinations & Restructuring 20%
C. Consolidated Financial Statements 20%
D. Developments in Financial Reporting 25%
E. Government Accounting in India 15%