MS-4: ACCOUNTING AND FINANCE FOR MANAGERS

 

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MS-4

 

 

 

 

 

 

 

Management Programme

 

 

 

 

 

 

 

 

 

ASSIGNMENT

SECOND SEMESTER

(July to December)

2020

 

 

 

 

 

 

 

 

 

 

 

MS-4: ACCOUNTING AND FINANCE

FOR MANAGERS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

School of Management Studies INDIRA GANDHI NATIONAL OPEN UNIVERSITY MAIDAN GARHI, NEW DELHI – 110 068

 

 

 

 

 

 

 

 

 

 

 

 

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		ASSIGNMENT
Course Code	:	MS-4
Course Title	:	Accounting and Finance for Managers
Assignment No.	:	MS-4/TMA/Sem-II/2020
Coverage	:	All Blocks

 

Note: Attempt all the questions and submit this assignment to the Coordinator of your Study Centre on or before 31^st October, 2020.

 

 

1.            Explain the meaning of Generally Accepted Accounting Principles? Discuss in brief about the Accounting Concepts that are being followed in your Organisation. Give your suggestions if any.

 

 

2.             Discuss the methods of depreciation and how these methods differ from each other.

 

 

3.            You are required to Compute all variances for a product X, the standard cost data per unit of output for which are as follows:

 

Direct material

20kg @ Rs.10per kg

 

Direct labour

12 hours at Rs. 5.50 per hour

 

Variable overheads

12 hours at Rs. 10 per hour

 

Fixed overheads

Rs.9,00,000  per  month  based  on

a

normal

 

volume of 60,000 direct labour hours

 

Selling price

Rs. 600 per unit

 

The costs incurred and other relevant information for the month of June2020 are as under

 

Direct material used

1,00,000 kg at a cost of Rs. 10,50,000

 

Direct wages paid

Rs. 3,10,000 for 62,000 hours worked

 

Overheads

Rs.15,26,000 out of which a sum of Rs.9,40,000 is Fixed

 

Actual output

4,800 units sold for Rs. 28,32,000

 

Assume no stocks of work-in-progress or finished goods at the beginning or at the end of the month.

 

4.    Alpha Ltd is considering the purchase a new machine, the details of the machines from which it is to select one are as follows:

 

		Machine I	Machine II
Estimated Life		3 years	3 years
Capital Cost		Rs. 90,000	Rs. 90,000
Earnings (after tax)	Year 1	40,000	20,000
	Year 2	50,000	70,000
	Year 3	40,000	50,000

 

The company follows the straightline method of depreciation, the estimated salvage value of both the types of machines is zero. You are to advise which is the most profitable investment based on (i) Pay back period (ii) Accounting Rate of Return and (iii) Net Present Value assuming a 10% cost of capital.

 

 

5.    Explain the Concepts of Working Capital. Why is management of working capital important for any business? Discuss the various factors that are taken into consideration while deciding the working capital requirements of the business.

 

 

 

 

 

 

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