MB0041- FINANCIAL AND MANAGEMENT ACCOUNTING

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ASSIGNMENT

DRIVE WINTER	2013
PROGRAM	MBADS / MBAHCSN3 / MBAN2 / PGDBAN2 / MBAFLEX
SEMESTER	I
SUBJECT CODE & NAME	MB0041- FINANCIAL AND MANAGEMENT ACCOUNTING
BK ID	B1624
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q1 Give the classification of Accounts according to accounting equation approach with its meaning and examples. Compare the traditional approach with modern approach of accounting equation approach. Analyze the transaction under traditional approach.

a. 20.1.2011 Paid salary Rs. 30,000

b. 20.1.2011 Paid rent by cheque Rs. 8,000

c. 21.1.2011 Goods withdrawn for personal use Rs. 5,000

d. 25.1.2011 Paid an advance to suppliers of goods Rs. 1,00,000

e. 26.1.2011 Received an advance from customers Rs. 3,00,000

f. 31.1.2011 Paid interest on loan Rs. 5,000

g. 31.1.2011 Paid instalment of loan Rs. 25,000

h. 31.1.2011 Interest allowed by bank Rs. 8,000

Answer :

Q2. The following trial balance was extracted from the books of Chetan, a small businessman. Do you think it is correct? If not, rewrite it in the correct form.

Debits	Rs.	Credits	Rs.
Stock Purchases Returns outwards Discount received Wages and salaries Rent and rates Sundry debtors Bank Overdraft	8250 12750 700 800 2500 1850 7600 2450	Capital Sales Returns inwards Discount allowed Scooty Carriage charges Sundry creditors Bills payable	10000 15900 1590 800 1750 700 7250 690

Q3 From the given trial balance draft an Adjusted Trial Balance.

Trial Balance as on 31.03.2011

Debit balances	Rs.	Credit balances	Rs.
Furniture and Fittings	10000	Bank Over Draft	16000
Buildings	500000	Capital Account	400000
Sales Returns	1000	Purchase Returns	4000
Bad Debts	2000	Sundry Creditors	30000
Sundry Debtors	25000	Commission	5000
Purchases	90000	Sales	235000
Advertising	20000
Cash	10000
Taxes and Insurance	5000
General Expenses	7000
Salaries	20000
TOTAL	690000	TOTAL	695000

Answer :

Q4. Compute trend ratios and comment on the financial performance of Infosys Technologies Ltd. from the following extract of its income statements of five years. (in Rs. Crore)

Particulars	2010-11	2009-10	2008-09	2007-08	2006-07
Revenue	27,501	22,742	21,693	16,692	13,893
Operating Profit (PBIDT)	8,968	7,861	7,195	5,238	4,391
PAT from ordinary activities	6,835	6,218	5,988	4,659	3,856

Answer :

5 Give the meaning of cash flow analysis and put down the objectives of cash flow analysis. Explain the preparation of cash flow statement.

Answer : Meaning of cash flow analysis

A cash flow statement is one of the most important financial statements for a project or business. The statement can be as simple as a one page analysis or may involve several schedules that feed information into a central statement.

A cash flow statement is a listing of the flows of

6 Write the assumptions of marginal costing. Differentiate between absorption costing and marginal costing.

Answer : The Cost of a product of comprises of materials, labour, and over heads. On the basis of variability they can be broadly classified as fixed and variable costs. Fixed costs are those costs which remain constant at all levels of production within a given period of time. In other words, a cost that does not change in total but become. progressively smaller per unit when the volume of production increases is known as fixed cost. it is also

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