Rahul
Summer 2013
Master of Business Administration- MBA Semester 1 MB0041 – Financial and Management Accounting - 4 Credits (Book ID: B 1624) Assignment- 60 marks
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.
Accounting is one of the oldest, structured management information system. 10 marks Give the meaning of accounting and book keeping? Explain the objectives of accounting? (Meaning of accounting 2 marks ; Meaning of book keeping 3 marks; objectives of accounting 5 marks)
Q2.
Explain GAAP and write down the relationship between accounting 10 marks principles, accounting concepts, and accounting conventions. Explain all the five accounting concepts with an example. (Meaning of GAAP 2 marks; Relationship between accounting principles , accounting concepts, and accounting conventions 3 marks ; Explanation of five accounting concepts with examples 5 marks )
Q3.
List down the classification of accounts according to accounting equation 10 marks approach. Give the meaning and examples for all the types of accounts. (listing 2 marks; meaning of 5 types of accounts 4 marks; examples for all 5 types of accounts 4 marks)
Q4.
What is cash book? Differentiate between other subsidiary books and cash 10 marks book. (Meaning of cash book 2 marks; Differences of subsidiary book and cash book 4 differences (each difference carries 2 marks) 8 marks)
Q5.
The following items are found in the trial balance of M/s Sharada Enterprise 10 marks on 31st December, 2000.
Summer 2013
Sundry Debtors
Rs.160000 9000 1800 Rs. 16500 Rs. 3200
Bad Debts written off Rs
Discount allowed to Debtors Rs.
Reserve for Bad and doubtful Debts 31-12-1999 Reserve for discount on Debtors 31-12-1999
You are required to provide the bad and doubtful debts at 5% and for discount on debtors at 2%. Show the adjustments for bad debts, bad debts
Master of Business Administration- MBA Semester 1 MB0041 – Financial and Management Accounting - 4 Credits (Book ID: B 1624) Assignment- 60 marks
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.
Accounting is one of the oldest, structured management information system. 10 marks Give the meaning of accounting and book keeping? Explain the objectives of accounting? (Meaning of accounting 2 marks ; Meaning of book keeping 3 marks; objectives of accounting 5 marks)
Q2.
Explain GAAP and write down the relationship between accounting 10 marks principles, accounting concepts, and accounting conventions. Explain all the five accounting concepts with an example. (Meaning of GAAP 2 marks; Relationship between accounting principles , accounting concepts, and accounting conventions 3 marks ; Explanation of five accounting concepts with examples 5 marks )
Q3.
List down the classification of accounts according to accounting equation 10 marks approach. Give the meaning and examples for all the types of accounts. (listing 2 marks; meaning of 5 types of accounts 4 marks; examples for all 5 types of accounts 4 marks)
Q4.
What is cash book? Differentiate between other subsidiary books and cash 10 marks book. (Meaning of cash book 2 marks; Differences of subsidiary book and cash book 4 differences (each difference carries 2 marks) 8 marks)
Q5.
The following items are found in the trial balance of M/s Sharada Enterprise 10 marks on 31st December, 2000.
Summer 2013
Sundry Debtors
Rs.160000 9000 1800 Rs. 16500 Rs. 3200
Bad Debts written off Rs
Discount allowed to Debtors Rs.
Reserve for Bad and doubtful Debts 31-12-1999 Reserve for discount on Debtors 31-12-1999
You are required to provide the bad and doubtful debts at 5% and for discount on debtors at 2%. Show the adjustments for bad debts, bad debts