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MCA311 – FINANCIAL MANAGEMENT AND ACCOUNTING




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ASSIGNMENT

DRIVE
SPRING 2019
PROGRAM
MASTER OF COMPUTER APPLICATION (MCA)
SEMESTER
III
SUBJECT CODE & NAME
MCA311 – FINANCIAL MANAGEMENT AND ACCOUNTING
BOOK ID
B2121
CREDIT & MARKS
4 CREDIT, 30 MARKS EACH SET

Note – The Assignment is divided into 2 sets. You have to answer all questions in both sets. Average score of both assignments scored by you will be considered as your IA score. Kindly note that answers for 10 marks questions should be approximately of 400 words.
SET – I

Q.
No
Questions
Marks
Total Marks

1
Define Accounting and list its objectives. What are the limitations of financial statements.
a)              Definition of Accounting.
b)             Objectives of Accounting.
c)              Limitations of Financial Statements.
2
4
4

10
2
Explain the Bookkeeping process.
Explanation of the steps of bookkeeping process
10
10








3
The income statement of Excel Ltd.is as follows. Calculate gross profit ratio, operating profit ratio, net profit ratio and the operating ratios.

Income statement for the year 2017-18

Sales

12,00,000
Cost of sales


Opening stock
2,50,000

Purchases
8,20,000

Direct expenses
1,00,000

Less closing stock
(1,00,000)
10,70,000
Gross profit

1,30,000
Admin expenses
50,000

Selling expenses
50,000
1,00,000
Operating profit

30,000
Add: Non-operating income


Profit on sale of investments
60,000

Dividends received
40,000
1,00,000
Less: Non-operating expenses

-40,000




Net profit

90,000

a)              Gross Profit Ratio
b)             Net Profit Ratio
c)              Operating Profit Ratio
d)             Operating Ratios
2
2
2
4

10

SET - II

Q.
No
Questions
Marks
Total
Marks






1
a)             Differentiate between Fund flow analysis and Cash flow analysis
b)             The following is the balance sheet for the period ended 31st Mar 2017 and Mar 2018.
If the current year’s net loss is Rs. 38,000, calculate the cash flow from operating activities.


31/3/17 (Rs.)
31/3/18 (Rs.)

Short-term loan to employees
15,000
18,000
Trade payables
30,000
8,000
Provision for doubtful debts
1,200
–
Bills payable
18,000
20,000
Inventories
15,000
13,000
Bills receivable
10,000
22,000
Prepaid expenses
800
600
Expenses payable
300
500
a)              Difference between Fund flow analysis and Cash flow analysis
b)             Calculation of Cash flow from operating activities
5
5
10



2
a)             Differentiate between Absorption Costing and Marginal Costing
b)             Calculate Break Even Point (BEP) and Margin of safety (MOS) from the following data:
Sales – 50,000 units per annum Selling price – Rs. 5.00 per unit Prime cost – Rs. 2.50 per unit
Variable overheads – Rs. 1.00 per unit Fixed cost – Rs. 76,000 per annum
a)              Difference between Absorption costing and Marginal costing.
b)             Calculation of BEP and MOS
5
5
10
3
List and explain the essential features of Budgetary Control.
Features of Budgetary Control
10
10


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