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