Get fully solved SMU MBA Assignments
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
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 involved in
this account is 'Accrual Accounting'. This principle says that the expenditure
should be allocated to the period to which it pertains.
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 :
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 :
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 :
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 :
4.
Enter the following transactions in the single column cash book of Gopichand.
March, 2003
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 Fall 2012
25th. Paid rent 600
30th. Received commission 4000
30th. Withdrew for personal purpose 1000
Cash balance 170000
Hint: Goods Purchased from Ravi Kumar
is a credit purchase.
Solution:
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 Analysis
• Funds Flow Analysis
• Cash Flow Analysis
•
Get fully solved SMU MBA Assignments
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.
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.
Answer
:
b)
An interim dividend of Rs.20,000 has been paid during the current year.
Answer
:
c)
Rs.35,000 was paid during the current year for income tax.
Answer
:
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).
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 :
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
Q5.
The Anchor Company Ltd. produces most of its electrical parts in its own plant.
The company is at present considering the feasibility of buying a part from an
outside supplier for Rs.4.50 per part. If this is done, monthly costs would
increase by Rs.1,000.
The
part under consideration is manufactured in department 1 along with numerous
other parts. On account of discontinuing the production of this part,
department 1 would have somewhat reduced operations. The average monthly usage
production of this part is 20,000 units. The costs of producing this part on
per unit basis are as follows.
|
Material
|
Rs. 1.80
|
|
Labour (half-hour)
|
2.40
|
|
Fixed overheads
|
0.80
|
|
Total
costs
|
5.00
|
Should
the company produce this part or should it buy from an outside supplier?
Hint:
|
Differential costs
|
7,000 per month
|
|
Favouring making of
the parts
|
0.35 er unit
|
Answer :
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
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