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Financial Accounting &
Analysis
April 2025 Examination
Q1.
Prepare final
accounts from
the
following balances -
Trial Balance as on 31.03.2024
Addition information:
• The closing inventory as on 31.03.2024 was valued at Rs. 3,68,500.
• Depreciation on plant @ 15% and on Building @ 10%.
• Outstanding printing and stationery expense Rs. 5000.
• Prepaid advertisement
expense Rs. 15000. (10 Marks)
Ans 1.
Introduction
The
preparation of final accounts is a critical process in financial accounting,
where the financial position and performance of a business are summarized.
These statements include the Trading and Profit & Loss Account and the
Balance Sheet. Final accounts help stakeholders assess profitability,
operational efficiency, and financial stability. The trial balance serves as
the foundation for this process. Adjustments, such as depreciation, outstanding
expenses, and closing inventory, ensure
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Q2. Raj Limited provides the following
information for the immediately
preceding two years.
From the given information prepare Comparative Income Statement of the company
for the two- year period: (10 Marks)
|
Particulars |
2023 |
2024 |
|
Rs. Million |
Rs. Million |
|
|
Sales |
5,000 |
3,750 |
|
Cost of goods sold |
3,000 |
2,450 |
|
Operating expenses |
750 |
490 |
|
Financial expenses |
500 |
340 |
|
Income tax |
150 |
95 |
|
Net profit |
600 |
375 |
Ans 2.
Introduction
A Comparative Income Statement is a key tool in
financial analysis that enables the comparison of a company’s financial
performance over two or more periods. It highlights changes in revenue,
expenses, and profitability, providing insights into the company’s growth
trends, efficiency, and areas of improvement. By showing both absolute and
percentage changes, a comparative income statement makes it easier for
stakeholders to understand how various income statement elements have evolved.
In this exercise, we analyze Raj Limited’s income statement for 2023 and 2024
to assess its performance, identifying key trends and underlying causes for any
changes in profitability. This analysis uses critical accounting concepts such
as cost control,
Q3(a).Dividend is the distribution
of profits by a company to its shareholders. Companies generally pay two types
of dividends: Interim dividend and Final dividend. You are required to explain
the term Dividend and explain the two types of dividends.
(5 Marks)
Ans
3a.
Introduction
A
dividend is the portion of a company’s profits distributed to its shareholders
as a reward for their investment in the company. It reflects a company’s
financial health, profitability, and commitment to providing returns to
shareholders. Dividends can be paid in cash, shares, or other forms and are
usually declared by the company's board of directors. There are primarily two
types of dividends: interim dividend and final dividend. These distributions
not only signal a company's performance
Q3(b). In order to take management decisions for a company, it is important to analyze
the financial statements
of the company in detail with the help of various financial analysis techniques. Explain in one sentence
each
the
5
techniques of analyzing
financial statements. (5 Marks)
Ans
3b.
Introduction
Financial
statement analysis is the process of evaluating a company’s financial data to assess
its performance, financial health, and decision-making efficiency. It enables
management, investors, and other stakeholders to make informed decisions.
Various techniques, including ratio analysis,
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