Free Practice Questions for Myanmar DA Part II Module II

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Exam Review

Key Facts: Myanmar DA Part II Module II Exam

3 Papers

Total written subject examination papers in DA Part II Module II

Myanmar Accountancy Council DA syllabus

40 points

Minimum qualifying mark required per subject paper

Myanmar Accountancy Council examination rules

5 sittings

Maximum consecutive examinations allowed to pass both modules

Myanmar Accountancy Council examination regulations

The MAC DA Part II Module II Examination comprises 3 written subject papers. Candidates must achieve at least 40 points in each subject; passing both modules of Part II confers the Diploma in Accountancy and direct route to CPA Part I.

Sample Myanmar DA Part II Module II Practice Questions

Try these sample questions to review concepts for the Myanmar DA Part II Module II exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1According to the Conceptual Framework for Financial Reporting, what is the primary objective of general purpose financial reporting?

A.To provide financial information about the reporting entity that is useful to existing and potential investors, lenders, and other creditors in making decisions about providing resources to the entity

B.To calculate the definitive taxable income and statutory tax liability payable to the Internal Revenue Department

C.To verify whether management has complied with all internal operating procedures and employment regulations

D.To establish the exact liquidation breakup value of the entity's individual assets in the event of forced closure

Explanation: The primary objective of general purpose financial reporting under the Conceptual Framework is to provide financial information that is useful to existing and potential investors, lenders, and other creditors in making capital allocation decisions. It is not designed to show the liquidation value of an entity or fulfill purely tax or internal procedural compliance functions. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part II Module II Examination.)

2Under the Conceptual Framework for Financial Reporting, which two qualitative characteristics are identified as the fundamental qualitative characteristics of useful financial information?

A.Comparability and verifiability

B.Relevance and faithful representation

C.Timeliness and understandability

D.Prudence and historical cost measurement

Explanation: Relevance and faithful representation are the two fundamental qualitative characteristics that make financial information useful. Information must be both relevant and faithfully represented before enhancing characteristics such as comparability, verifiability, timeliness, and understandability can maximize its utility. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part II Module II Examination.)

3Which set of qualitative characteristics enhances the usefulness of financial information that is already relevant and faithfully represented?

A.Materiality, conservatism, consistency, and completeness

B.Realization, entity concept, periodicity, and duality

C.Comparability, verifiability, timeliness, and understandability

D.Going concern, accrual basis, substance over form, and prudence

Explanation: The enhancing qualitative characteristics under the Conceptual Framework are comparability, verifiability, timeliness, and understandability. These characteristics improve the usefulness of information that is already relevant and faithfully represented. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part II Module II Examination.)

4How is an 'asset' defined in the revised Conceptual Framework for Financial Reporting?

A.Any physical item owned with legal title that generated net cash inflows during the prior financial year

B.A present economic resource controlled by the entity as a result of past events

C.Future expected cash inflows that management intends to collect from normal business operations

D.A tangible or intangible expenditure whose historical acquisition invoice has been fully settled in cash

Explanation: The revised Conceptual Framework defines an asset as a present economic resource controlled by the entity as a result of past events, where an economic resource is a right that has the potential to produce economic benefits. Legal ownership and physical form are not strictly required for control. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part II Module II Examination.)

5Which of the following correctly distinguishes the historical cost measurement basis from current value measurement bases under the Conceptual Framework?

A.Historical cost measures assets at the present value of future cash flows, whereas current value reflects past acquisition expenditure

B.Historical cost provides monetary information using information derived at least partly from the price of the transaction, whereas current value uses information updated to reflect conditions at the measurement date

C.Historical cost requires annual upward revaluation to net realizable value, whereas current value prohibits any downward fair value adjustments

D.Historical cost is only permitted for intangible assets, whereas current value must be applied to all inventory and receivables

Explanation: Historical cost measurement measures assets, liabilities, and related income and expenses using information derived from the transaction or event that created them, adjusted for consumption or impairment. Current value measurement bases (fair value, value in use, current cost) reflect conditions prevailing at the measurement date. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part II Module II Examination.)

6In financial reporting measurement, how does 'value in use' differ from 'fair value'?

A.Value in use reflects current replacement cost from an external supplier, whereas fair value reflects historical manufacturing cost

B.Value in use is determined using quoted stock exchange prices, whereas fair value is an unobservable estimate made by management

C.Value in use is an entity-specific measure reflecting the present value of cash flows expected from continuing asset use and ultimate disposal, whereas fair value reflects market-participant assumptions

D.Value in use excludes any discounting of cash flows, whereas fair value always includes a compound interest penalty factor

Explanation: Value in use is an entity-specific value representing the present value of the cash flows that an entity expects to derive from the continuing use of an asset and from its ultimate disposal. In contrast, fair value is a market-based measurement reflecting the assumptions that market participants would use when pricing the asset under current market conditions. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part II Module II Examination.)

7According to IAS 1 (Presentation of Financial Statements), what components constitute a complete set of financial statements?

A.Statement of financial position, statement of profit or loss and OCI, statement of changes in equity, statement of cash flows, and notes

B.Trial balance, director's report, statutory tax return, and independent auditor's report only

C.Statement of financial position, cash book ledger, bank reconciliation statement, and list of creditors

D.Manufacturing account, trading account, profit and loss account, and value added statement only

Explanation: Under IAS 1, a complete set of financial statements comprises a statement of financial position as at the end of the period, a statement of profit or loss and other comprehensive income, a statement of changes in equity, a statement of cash flows, and notes comprising material accounting policy information and other explanatory notes. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part II Module II Examination.)

8When assessing whether an entity is a going concern under IAS 1, management is required to evaluate information covering a minimum period of:

A.At least three months from the date the audit commenced

B.At least twelve months from the end of the reporting period

C.Exactly five financial years from the incorporation date

D.The operating cycle of competitors within the same commercial sector

Explanation: IAS 1 stipulates that when management assesses whether the going concern assumption is appropriate, it must consider all available information about the future, which is at least, but not limited to, twelve months from the end of the reporting period. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part II Module II Examination.)

9What is the general principle regarding the offsetting of financial items under IAS 1?

A.Entities must offset all trade receivables against trade payables to present net exposure to the public

B.Assets and liabilities, and income and expenses, shall not be offset unless required or permitted by an MFRS/IFRS standard

C.Management has complete discretion to offset any revenue item against related operating overheads

D.Offsetting is mandatory whenever the net amount is less than 10% of total equity

Explanation: IAS 1 strictly prohibits offsetting assets and liabilities, or income and expenses, unless required or permitted by another MFRS/IFRS standard. Offsetting obscures the true nature of transactions and makes it difficult for users to evaluate cash flows and financial condition. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part II Module II Examination.)

10Under IAS 2 (Inventories), inventories must be measured at:

A.The lower of cost and net realizable value

B.The higher of historical cost and current market replacement cost

C.The original purchase price plus expected gross profit margin

D.Net realizable value less standard sales commission only

Explanation: IAS 2 requires inventories to be measured at the lower of cost and net realizable value (NRV). Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. (This question is part of an independent English-language MCQ study adaptation for the Myanmar Accountancy Council Diploma in Accountancy Part II Module II Examination.)

About the Myanmar DA Part II Module II Exam

The Myanmar Accountancy Council Diploma in Accountancy (DA) Part II Module II Examination covers Financial Reporting, Service Regulation & Financial Regulation, and Information and Communication Technology and Systems Development. MAC confirms English-only responses for Financial Reporting and ICT but does not state the permitted response language for the regulations paper on its public FAQ. Passing this module completes the Diploma in Accountancy and qualifies candidates for direct CPA Part I admission. This resource is an independent English-language MCQ study adaptation, not an official translation, format simulation, or substitute for written-response practice.

Exam sponsor: Myanmar Accountancy Council (MAC / မြန်မာနိုင်ငံစာရင်းကောင်စီ), Union Auditor General Office. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

3 written papers: Financial Reporting, Financial & Service Regulations, and ICT & Systems Development.

Time Limit

Published in sitting-specific timetables; no stable duration is stated in standing rules

Passing Score

40 points in each of the 3 subject papers

Exam / Certification Fees

A current examination fee is not published on the standing official exam pages; consult the sitting-specific notice.

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Official sources

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

34% (1 of 3 papers)

Financial Reporting

Myanmar Financial Reporting Standards (MFRS), first-time adoption, presentation of financial statements, revenue recognition, inventories, cash flows, and accounting policies.

33% (1 of 3 papers)

Service Regulation and Financial Regulation

Civil Service Regulations, leave regulations, pension calculations, Myanmar Financial Regulations, departmental budgeting, and government treasury procedures.

33% (1 of 3 papers)

Information and Communication Technology and Systems Development

Computerized accounting information systems, DBMS architectures, systems development life cycle (SDLC), IT controls, and audit trails.

Preparing for the Myanmar DA Part II Module II Exam

What You Need to Know

Passing score: 40 points in each of the 3 subject papers
Assessment: 3 written papers: Financial Reporting, Financial & Service Regulations, and ICT & Systems Development.
Time limit: Published in sitting-specific timetables; no stable duration is stated in standing rules
Exam / certification fees: A current examination fee is not published on the standing official exam pages; consult the sitting-specific notice. Official sources

Using Our Practice Resources

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Myanmar DA Part II Module II: Suggested Study Strategy

1Review MFRS / IAS 1 presentation principles, IAS 2 inventory valuation rules, and IAS 7 cash flow direct and indirect methods.

2Study Myanmar civil service leave rules, pension entitlement formulas, and departmental budget preparation deadlines.

3Understand SDLC phases from feasibility study to implementation conversion methods (parallel, direct, pilot, phased).

4Master IT application controls including input validation checks, processing controls, and audit trails.

Frequently Asked Questions

What subjects are included in DA Part II Module II?

DA Part II Module II includes three subjects: Financial Reporting, Service Regulation & Financial Regulation, and Information and Communication Technology and Systems Development.

What qualification is awarded after passing this examination?

Passing DA Part II Module II (alongside Module I) confers the official Diploma in Accountancy (DA) from MAC and provides direct eligibility for CPA Part I enrollment.

What language is used for the examination papers?

MAC's public FAQ confirms English-only responses for Financial Reporting and ICT. It excludes Service and Financial Regulations from that English-only statement but does not identify the permitted response language for that paper.

Are these practice questions endorsed by MAC?

No. These practice questions are an independent English-language MCQ study adaptation created by OpenExamPrep for revision. They are neither sponsored nor endorsed by MAC or OAG.