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FALL 2015, ASSIGNMENT
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DRIVE
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BCA (REVISED FALL 2012)
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SEMESTER
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4
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SUBJECT CODE & NAME
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MANAGEMENT
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CREDITS
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4
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BK ID
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B1769
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MAX. MARKS
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60
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Q. 1. Define Accounting. Briefly explain
the ‘Entity Concept’ and ‘MoneyMeasurement Concept’ of accounting.
Answer:Accounting, or accountancy, is the measurement, processing and
communication of financial information about economic entities. It was founded
by the Italian mathematician Luca Pacioli, in the end of the 15th century.
Accounting, which has been called the "language of business",
measures the results of an organization's economic activities and conveys this
information to a variety of users including investors, creditors, management,
and regulators. Practitioners of accounting are known as accountants. The terms
accounting and financial reporting are often used as synonyms.
Q. 2. What is rectification of errors? List
and explain the stages where theerrors are deducted for rectification.
Answer:Once an error is located, it should be properly corrected. The
correction of accounting errors in a systematic manner is called the
rectification of errors. In other words, the process of systematically
correcting the accounting errors is known as rectification of errors. The
presence of accounting errors affects accuracy of the profit and loss and the
financial position of the business shown by the final accounts, therefore, no
error should be
Q. 3. Explain the various steps in
financial planning.
Answer:The financial planning process consists of the following six steps:
·
Establish
and define the client-planner relationship: The financial planner should clearly explain and document the services
that he or she will provide to you and define both his/her and your
responsibilities during the financial planning engagement. The financial
planner should explain fully how he or she will
Q. 4. What is inventory management and
explain the following
Answer:Inventory management involves the Activities employed in maintaining the
optimum number or amount of each inventory item. The objective of inventory management is to
provide uninterrupted production, sales, and/or customer-service levels at the
minimum cost. Since for many companies inventory is the largest item in the
current assets category, inventory problems can and do contribute to losses or
even business failures.
a. Economic Order Quantity: Economic order quantity (EOQ) is the order
quantity that minimizes total inventory holding costs and ordering
Q. 5. Explain the different steps involved
in preparation of Fund FlowStatements.
Answer:For preparing the Funds Flow Statement, the first step is to prepare the
Statement of Changes in Working Capital. There may be several reasons for
changes in the Working Capital Position of a Company, some of which have been
discussed below:-
·
Purchase
of Fixed Assets or Long Term Investments without raising Long Term Funds
·
Payments
of Dividends in excess of the Profits
Q. 6. What is cost? Discuss the factors
involved in estimating the cost.
Answer:In accounting, the term cost refers to the monetary value of expenditures
for raw materials, equipment, supplies, services, labor, products, etc. It is
an amount that is recorded as an expense in bookkeeping records.When a new
company’s business plan is developed, organizers will often create cost
estimates. These are used to assess whether the benefits and revenues of a
proposed business will more than cover the costs. This is called a cost-benefit
analysis. Underestimating the costs of a
business may result in a cost overrun once
Dear students get fully solved
assignments
Send your semester &
Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
or
Call us at : 08263069601
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