Master of Business Administration- MBA Semester 1
Financial Management & Accounting - 4 Credits
(Book ID: 1130)
Assignment Set- 2 (60 Marks)Note: Each question carries 10 Marks. Answer all the questions.
1. Uncertainties inevitably surround many transactions. This should be recognized byexercising prudence in preparing financial statement. Explain this concept with the helpof an example.2. A. When is the change in accounting policy recommended and what are the disclosurerequirements regarding the change in accounting policy?B. Explain IFRS.3. Journalise the following transactions:01.01.09 Bought goods for Rs.10,00002.01.09
Purchased goods from X Rs.20,00003.01.09
Bought goods from Y for Rs.30,000 against a current dated cheque04.01.09
Purchased goods from Z [price list price is Rs.30,000 and tradediscount is 10%]05.01.09
Bought goods of the list prce of Rs.1,25,000 from M less 20% tradediscount and 2% cash discount. Paid 40% of the amount by cheque06.01.09
Returned 10% of the goods supplied by X07.01.09
Returned 10% of the goods supplied by Y4. Bring out the difference between Funds Flow Statement and Cash Flow Statement.Mention up to what point in time they are similar and from where the differences begin.5. A. Determine the sales of a firm with the following financial dataCurrent Ratio 1.5Acid test ratio 1.2Current Liabilities 8,00,000Inventory Turnover ratio 5 timesB. What is Du-Pont chart?