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    MBA and MBA (Banking & Finance) : Mmpc-004: Accounting For Managers

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    Mishra Family
    The document provides the assignment for the course MMPC-004 Accounting for Managers for the July 2021 and January 2022 sessions. It includes 5 questions related to preparing trading and profit and loss account and balance sheet from a trial balance, explaining activity based costing and its benefits, discussing variance control and its importance, preparing a balance sheet from given ratios, and explaining forensic accounting, fraud detection techniques, and forensic audit techniques. Students need to answer all questions and submit the assignment by 30th November 2021 for the July 2021 session and 30th April 2022 for the January 2022 session.

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    MBA and MBA (Banking & Finance) : Mmpc-004: Accounting For Managers

    Uploaded by

    Mishra Family
    126 views3 pages
    The document provides the assignment for the course MMPC-004 Accounting for Managers for the July 2021 and January 2022 sessions. It includes 5 questions related to preparing trading and profit and loss account and balance sheet from a trial balance, explaining activity based costing and its benefits, discussing variance control and its importance, preparing a balance sheet from given ratios, and explaining forensic accounting, fraud detection techniques, and forensic audit techniques. Students need to answer all questions and submit the assignment by 30th November 2021 for the July 2021 session and 30th April 2022 for the January 2022 session.

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    MMPC -004

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    The document provides the assignment for the course MMPC-004 Accounting for Managers for the July 2021 and January 2022 sessions. It includes 5 questions related to preparing trading and profit and loss account and balance sheet from a trial balance, explaining activity based costing and its benefits, discussing variance control and its importance, preparing a balance sheet from given ratios, and explaining forensic accounting, fraud detection techniques, and forensic audit techniques. Students need to answer all questions and submit the assignment by 30th November 2021 for the July 2021 session and 30th April 2022 for the January 2022 session.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    126 views3 pages

    MBA and MBA (Banking & Finance) : Mmpc-004: Accounting For Managers

    Uploaded by

    Mishra Family
    The document provides the assignment for the course MMPC-004 Accounting for Managers for the July 2021 and January 2022 sessions. It includes 5 questions related to preparing trading and profit and loss account and balance sheet from a trial balance, explaining activity based costing and its benefits, discussing variance control and its importance, preparing a balance sheet from given ratios, and explaining forensic accounting, fraud detection techniques, and forensic audit techniques. Students need to answer all questions and submit the assignment by 30th November 2021 for the July 2021 session and 30th April 2022 for the January 2022 session.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    MMPC-004

    MBA and MBA (Banking & Finance)

    MMPC-004: ACCOUNTING FOR MANAGERS

    ASSIGNMENT

    For

    July 2021 and January 2022 Sessions

    (Last date of submission for July 2021 Session is 30th November 2021 and for
    January 2022 Session is 30th April 2022).

    School of Management Studies


    INDIRA GANDHI NATIONAL OPEN UNIVERSITY
    MAIDAN GARHI, NEW DELHI – 110 068
    ASSIGNMENT

    Course Code : MMPC-004


    Course Title : Accounting for Managers
    Assignement Code : MMPC-004/TMA/ 2021-22
    Coverage : All Blocks

    Note: Attempt all questions and submit this assignment to the coordinator of your study centre.
    Last date of submission for July 2021 Session is 30th November 2021 and for January
    2022 Session is 30th April 2022.

    Q 1. From the following Trial Balance prepare Trading and Profit and Loss Account for the year
    ended 31st December, 2020 and Balance Sheet as on that date:

    Dr. (Rs.) Cr. (Rs.)


    Drawings 10,000 ---
    Stock on 01/01/2019 46,000 ---
    Purchases and Purchases Returns 1,50,200 600
    Cash in Hand 3,400 ---
    Bank Balance 22,660 ---
    Freehold Premises 38,600 ---
    Trade Expenses 840 ---
    Printing, stationery and Advertising 1,640 ---
    Professional Charges 280 ---
    Commission Received -- 3,300
    Investments as on 1st Jan. @ 10% 4,000 ---
    Interest on above -- 200
    Sundry Debtors and Creditors 36,000 29,000
    Wages 25,000 ---
    Salaries 14,000 ---
    Capital -- 1,14,000
    Income Tax 1,600 ---
    Discount allowed and received 6,300 4,600
    Sales Returns and Sales 550 2,08,950
    Bills Receivable /Bills Payable 3,200 10,000
    Office furniture 3,050 ---
    Rent, Rates and Insurance 4,000 ---
    Bad Debts Provisions -- 670
    Total 3,71,320 3,71,320
    Adjustments:

    (a) Provide for wages Rs. 5,000.

    (b) Write Off 5% depreciation on freehold premises and 10% on office furniture.
    (c) Insurance to the extent of Rs. 200 relates to 2021.

    (d) Stock on 31.12.2020 is Rs. 5,20,00.

    (e) Charge interest on capital 5% and on drawings Rs. 300.

    (f) Further bad debts are Rs. 1,000.

    (g) Provide for doubtful debts @ 5% on sundry debtors.

    (h) Make provisions for discount on debtors and reserve for discount on creditors @2%.

    Q2. What is activity based costing (ABC)? How product costs are determined in ABC? Discuss
    the benefits of ABC.

    Q3. What is variance? Explain the need for variance control and discuss the importance of
    variance control in operational and management control.

    Q4. From the following information presented by a firm for the year ended 31st December,
    prepare the Balance Sheet:

    Sales to Net Worth 5 Times


    Current Liabilities to Net Worth 50%
    Total Debts to Net Worth 60%
    Fixed Assets to Net Worth 60%
    Current Ratio 2
    Sales to Stock 10Times
    Debtor’s Velocity 9 Times
    Annual Sales Rs. 15,00,000
    Cash Sales 40% of Sales

    Q5. What is Forensic Accounting? Explain the method of fraud detection and discuss the
    techniques used for forensic audit.

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