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Fall
2012
Master
of Business Administration- MBA Semester 1
MB0041
– Financial And Management Accounting - 4 Credits
(Book
ID: B1624)
Assignment
Set - 1 (60 Marks)
Note:
Each question carries 10 Marks. Answer all the questions.
Q1.
Explain the process involved in accounting.
Answer : As implied earlier, today's
electronic accounting systems tend to obscure the traditional forms of the
accounting cycle. Nevertheless, the same basic process that bookkeepers and
accountants used to perform by hand are present in today's accounting software.
ACCOUNTING
CYCLE :
An accounting cycle is a
Q2.
The salaries paid in 2004 is Rs. 5,00,000; Salaries outstanding is Rs. 20,000;
Salaries paid in advance for 2004 is Rs. 30,000. What is the actual salary
expenditure for 2004? Which accounting principle is involved in this and
explain that principle.
Answer : 1. The principle …
3.
Find the value of the following:
a.
If the total assets are Rs. 87,000 and the liabilities are Rs. 47,000, find out
the amount of capital.
Answer : Total a
b.
If the capital of proprietor is Rs. 4,00,000 and the total assets are Rs.
6,00,000, what is the amount of liabilities to outsiders?
Answer : Capital
c.
If creditors are Rs. 56,000, bank overdraft is Rs.1,00,000, and outstanding expenses
are Rs. 8,000, what is the total amount of assets?
Answer : creditor
d.
Fixed assets are Rs.70,000 and current assets are Rs.1,00,000 and the creditors
are Rs.30,000. What is capital?
Answer : Fixed a
4.
Enter the following transactions in the single column cash book of Gopichand.
1st.
Commenced business with cash 20000
2nd.
Bought goods for cash 5000
3rd.
Sold goods for cash 4000
4th.
Goods purchased from Ravi Kumar 10000
10th. Paid to Ravi Kumar 7000
14th. Cash sales 8000
18th. Purchased furniture for office 4000
22nd. Paid wages 500
25th. Paid rent 600
30th. Received commission 4000
30th. Withdrew for personal purpose 1000
31st Paid Salary 900
Cash balance
17000
Hint: Goods Purchased from Ravi Kumar is a credit
purchase.
Hint: Goods Purchased from Ravi Kumar
is a credit purchase.
Q5.
Find out the missing figures.
|
Office
stationery
|
Consumables
|
|
|
Opening
stock
|
5000
|
8000
|
|
Purchased
during the year
|
25000
|
?
|
|
Closing
stock
|
3000
|
6000
|
|
Consumed for
the year
|
?
|
24000
|
Hint : Office stationery consumed
for the year =27000
Consumables purchased during the year
= 22000
Answer : Solution:
Q6.
Explain the tools of management accounting.
Answer : Tools of Management Accounting
Management Accounting uses the
following tools or techniques to fulfill its responsibilities and duties
towards management.
• Financial Statement
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Master
of Business Administration- MBA Semester 1
Fall
2012
MB0041
– Financial and Management Accounting- 4 Credits
(Book
ID: B1624)
Assignment
Set - 2 (60 Marks)
Note:
Each question carries 10 Marks. Answer all the questions.
Q1.
Compute trend ratios and comment on the financial performance of Infosys
Technologies Ltd. from the following extract of its income statements of five
years.
(in
Rs. Crore)
|
Particulars
|
2010-11
|
2009-10
|
2008-09
|
2007-08
|
2006-07
|
|
Revenue
|
27,501
|
22,742
|
21,693
|
16,692
|
13,893
|
|
Operating
Profit (PBIDT)
|
8,968
|
7,861
|
7,195
|
5,238
|
4,391
|
|
PAT from ordinary activities
|
6,835
|
6,218
|
5,988
|
4,659
|
3,856
|
(Source:
Infosys Technologies Ltd. – Annual Report)
Hint:
The Revenue and Operating Profit (PBIDT) have almost doubled in four years. The
PAT from ordinary activities has increased by 77.26% in the same period.
Answer : Computing
trend
Q2.
What is fund flow analysis? What are the objectives of analysing flow of fund?
From
the following balance sheets of Joy Ltd., prepare a cash flow statement under
indirect method.
|
Liabilities
|
2005
|
2006
|
|
Equity share capital
|
3,00,000
|
4,00,000
|
|
8% redeemable pref. share
capital
|
1,50,000
|
1,00,000
|
|
General reserve
|
40,000
|
70,000
|
|
Profit and loss
|
30,000
|
48,000
|
|
Proposed dividend
|
42,000
|
50,000
|
|
Sundry creditors
|
55,000
|
83,000
|
|
Bills payable
|
20,000
|
16,000
|
|
Provision for taxation
|
40,000
|
50,000
|
|
Total
|
6,77,000
|
8,17,000
|
|
Assets
|
|
|
|
Goodwill
|
1,15,000
|
90,000
|
|
Land and building
|
2,00,000
|
1,70,000
|
|
Plant
|
80,000
|
2,00,000
|
|
Sundry debtors
|
1,60,000
|
2,00,000
|
|
Stock
|
77,000
|
1,09,000
|
|
Bills receivable
|
20,000
|
30,000
|
Additional
Information
a)
Depreciation of Rs.10,000 and Rs.20,000 has been changed on plant and building
during the current year.
b)
An interim dividend of Rs.20,000 has been paid during the current year.
c)
Rs.35,000 was paid during the current year for income tax.
Hint:
Cash flow from operating activities Rs.1,25,000; Cash flow from investing
activities (Rs.1,20,000); Cash flow from financing activities (Rs.12,000).
Answer : Solution :
Schedule
of changes in working capital
Q3.
Calculate the cost of raw materials purchased from the following data:
Opening
stock of raw materials Rs.10,000
Closing
stock of raw materials Rs.15,000
Expenses
on purchases Rs.5,000
Direct
wages Rs.50,
000
Prime
costs Rs.1,
00,000
Hint:
Cost of Raw Materials purchased is Rs.50,000
Answer :
Solution:
- Calculation
Q4.
Distinguish between absorption costing and marginal costing
Answer
: Absorption Costing vs Marginal Costing
The system of computing the cost of
production is known as costing. The main purpose of any costing system is to
identify the cost incurred for the production of a unit output. In a
manufacturing company, identifying the cost associated with a unit product is
very important to price the product such that the company could make a profit
and survive to exist in the future. Both absorption costing and marginal
costing are traditional system of
Q6.
Explain the essential features of budgetary control.
Answer : An
effective budgeting system should have essential features to get best results.
In this direction, the following may be considered as essential features of an
effective budgeting.
Business
Policies defined: The top management of an organization strives
to have an action plan for every activity and for each department. Every
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