Elective: Financial and Accounting Management (Part -2)

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Elective: Financial and Accounting Management (Part -2)

Attend any 4 questions.  Each question carries 25 marks

(Each answer should be of minimum 2 pages / of 300 words)

Question.1.         Describe the salient features of Accounting Standard with regard to Depreciation Accounting.

Answer:Accounting is the art of recording transactions in the best manner possible, so as to enable the reader to arrive at judgments/come to conclusions, and in this regard it is utmost necessary that there are set guidelines. These guidelines are generally called accounting policies. The intricacies of accounting policies permitted Companies to alter their accounting principles for their benefit. This made it impossible to make comparisons. In order

Question.2.         Explain the role of expired cost in income measurement.

Answer: When financial reports are generated by professional accountants, we have certain expectations of the information they present to us:

We expect the accounting information to be reliable,

Question.3.         Identify and explain the processes of computerised accounting and accounting software packages.

Answer:How is your company doing? Being able to answer that question requires you to know how much money you're making, which in turn requires accurate bookkeeping. Keeping accurate financial records is crucial to the success of any business, so it's important to know your options.

While some firms still do their

Question.4.         Explain value inventory for balance sheet purposes.

Answer:For many business owners, inventory valuation is a major issue that impacts their P&L, balance sheet and taxes. The general rule of thumb is that inventory should be valued at what you paid for it and the market value (what it's worth). Unless the inventory is obsolete, your inventory is generally valued at cost. But what is cost? Is it the last price you paid, the first price or the average price? In addition, what does cost include? Does cost include labor and overhead and freight or only the cost of the purchases? Consider the following:

Question.5.         Explain the provisions concerning a company’s books of accounts, financial statement and declaration of dividends by company.

Answer:

Question.6.         Explain the objective and types of underwriting.

Answer:

                                                                                      25 x 4=100 marks

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