MB0041- FINANCIAL AND MANAGEMENT ACCOUNTING

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ASSIGNMENT

DRIVE	FALL 2014
PROGRAM	MBADS / MBAHCSN3 / MBAN2 / PGDBAN2 / MBAFLEX
SEMESTER	I
SUBJECT CODE & NAME	MB0041- FINANCIAL AND MANAGEMENT ACCOUNTING
BK ID	B1624
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

1 Give the classification of Accounts according to accounting equation approach withits meaning and examples. Compare the traditional approach with modern approachof accounting equation approach. Analyze the transaction under traditional approach.

a. 20.1.2011 Paid salary Rs. 30,000

b. 20.1.2011 Paid rent by chequeRs. 8,000

c. 21.1.2011 Goods withdrawn for personal use Rs. 5,000

d. 25.1.2011 Paid an advance to suppliers of goods Rs. 1,00,000

e. 26.1.2011 Received an advance from customers Rs. 3,00,000

f. 31.1.2011 Paid interest on loan Rs. 5,000

g. 31.1.2011 Paid instalment of loan Rs. 25,000

h. 31.1.2011 Interest allowed by bank Rs. 8,000

Classification of accounting equation approach with meaning andexamplesAnalysis of transaction –with accounts involved-nature of accountaffectsand debit/credit

Answers:-  Classification of Accounts According to Accounting Equation Approach

Accounting equation approach classifies different types of accounts into assets account, liabilities account, capital account, revenue account, and expenses account.

Types of Accounts

Meaning

Examples

2 The following trial balance was extracted from the books of Chetan, a smallbusinessman. Do you think it is correct? If not, rewrite it in the correct form.

Solution :-

Debit balances	Amount Rs.	Credit balances	Amount Rs.
Stock	8250	Capital	10000
Purchase	12750	Creditors	7250
Wages and salaries	2500	Dis received	800

4 Compute trend ratios and comment on the financial performance of Infosys Technologies Ltd. from the following extract of its income statements of five years. (inRs. Crore)

Preparation of trend analysis

Solution: Infosys Technologies Ltd.

Trend Analysis Particulars	2010-11	2009-10	2008-09	2007-08	2006-07
Revenue	27,501	22,742	21,693	16,692	13,893

5 Give the meaning of cash flow analysis and put down the objectives of cash flow analysis. Explain the preparation of cash flow statement.

Answer : Meaning of cash flow analysis

A cash flow statement is one of the most important financial statements for a project or business. The statement can be as simple as a one page analysis or may involve several schedules that feed information into a central statement.

A cash flow statement is a listing of the flows of cash into and out of the business or project. Think of it as your checking account at the bank. Deposits are the cash inflow and withdrawals (checks) are the cash outflows. The balance in your checking account is your net cash flow at a specific point in time.

A cash flow statement is a listing of cash flows that

6 Write the assumptions of marginal costing. Differentiate between absorption costing and marginal costing.

Answer : The Cost of a product of comprises of materials, labour, and over heads. On the basis of variability they can be broadly classified as fixed and variable costs. Fixed costs are those costs which remain constant at all levels of production within a given period of time. In other words, a cost that does not change in total but become. progressively smaller per unit when the volume of production increases is known as fixed cost. it is also called period cost eg. Rent, Salary, Insurance charges etc. On the other hand variable cost are those cost which very in accordance with the volume of output. To part it in another way. variable costs

Dear students get fully solved  SMU MBA Fall 2014 assignments

Send your semester & Specialization name to our mail id :

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or

Call us at : 08263069601

(Prefer mailing. Call in emergency )