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Master of Business Administration (MBA)/ Master of Business Administration (Online) MBA(OL)/ Master of Business Administration (Banking and Finance) (MBF)/ Master of Business Administration (Financial Management) (MBAFM)/ Master of Business Administration (Human Resource Management) (MBAHM)/ Master of Business Administration (Marketing Management) (MBAMM)/ Master of Business Administration (Operations Management) (MBAOM)/ Post Graduate Diploma in Financial Management (PGDIFM)

 

INDIRA GANDHI NATIONAL OPEN UNIVERSITY

School of Management Studies

 

ASSIGNMENT

For

July 2025 and January 2026 Semesters

 

Course Code : MMPC-004

Course Title : Accounting for Managers

Assignment Code : MMPC-004/TMA/JULY/2025

Coverage : All Blocks

 

Last date of submission for July 2025 Semester is 31st October 2025

and for January 2026 Semester is 30th April 2026

 

1. Explain the fundamental accounting concepts that underpin the preparation of financial statements in detail, providing suitable examples for each.

Accounting concepts are the foundational principles that guide the preparation and presentation of financial statements. These concepts ensure consistency, transparency, and comparability in financial reporting. The key fundamental accounting concepts are explained below with examples:

1. **Business Entity Concept**: This principle states that the business and its owner are treated as two separate entities.

 

2. A factory manufacturing fans has the capacity to produce 500 fans per annum. The variable cost of a fan is Rs. 800, which is sold for Rs. 1,000. Fixed overheads are Rs. 24,000 per annum. Calculate the break-even points for output and sales, and show what profit will result if the output is 90% of capacity.

**Given Data:**
Capacity = 500 fans per annum 
Selling Price per fan = ₹1,000 
Variable Cost per fan = ₹800 
Fixed Overheads = ₹24,000 per annum 

**Step 1: Contribution per Unit**
Contribution per unit = Selling Price – Variable Cost 
= ₹1,000 – ₹800 = ₹200

**Step 2: Break-even Point (Units)**
Break-even Point (Units) = Fixed Cost / Contribution per Unit 
= ₹24,000 / ₹200 = **120 fans**

 

3. Critically evaluate the concept of Zero-Based Budgeting, highlighting its key features, process, advantages, and limitations.

Zero-Based Budgeting (ZBB) is a modern budgeting approach where every expense must be justified from scratch for each new period, regardless of whether the expense existed previously. Unlike traditional incremental budgeting, which adjusts last year’s budget by a percentage, ZBB starts from a "zero base."

**Key Features:**
1. Every function is a

 

 

4. “Ratio analysis is a vital tool in financial statement analysis, used by stakeholders to assess a firm’s performance, liquidity, solvency, and profitability”. Discuss this statement with suitable examples and interpretations.

Ratio analysis is a key technique in financial statement analysis used to interpret the financial health and performance of a business. Ratios establish meaningful relationships between financial data points from the balance sheet and income statement to evaluate liquidity, profitability, solvency, and efficiency.

5. Define forensic accounting and explain its scope and significance in corporate governance and financial investigations. Illustrate your answer with an example of a real or hypothetical corporate fraud case where forensic accounting techniques is applied.

Forensic accounting is a specialized field that combines accounting, auditing, and investigative skills to examine financial records for use in legal proceedings or fraud investigations. It involves uncovering financial discrepancies, reconstructing financial data, and presenting findings in courts of law.

**Scope

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