Management Accounting — Summer 2024

What is meaning of accounting? Explain user of accounting information.

Explain difference between Financial Accounting and Management Accounting.

Explain various accounting concepts and conventions with examples

What is depreciation and why it is provided? Also explain written down value method of Depreciation?

From the following particulars calculate 1. Contribution 2. P/Vratio 3. Breakeven point (in units.) 4. Break Even point (in Rupees) Total fixed Cost Rs.12000 Selling Price Rs.12 per unit Variable cost Rs.9 per unit.

Write a note on CVP analysis

Journalize the following transactions in the books of Mr.Rohit 1.Started Business with Cash Rs.250000 2.opend a bank account with Rs.20000 cash 3.Bought furniture for cash Rs.3000 4. Paid salary to accountant Rs.1000 5. Purchased goods of Rs.10000 and paid by cheque. 6.She Purchased goods for cash Rs.12000 7.She paid rent Rs.1200 Page 1 of

A Manufacture has the following record of purchased of components Z Which is used while manufacturing LCD Tv Dec 04 Purchased 900 units @ Rs.5 per units. Dec 05 Issues 600 units. Dec 10 Purchase 400 units@ Rs.5.50 per units Dec 11 Purchase 300 units @ Rs.5.50 per units Dec 12 Issues 400 units Dec 19 Purchase 200 units @ Rs.6 per units Dec 29 Issues 600 units Calculate the value of Closing stock by preparing Ledger FIFO and LIFO Method

What is meaning of Journal. Explain basic rules of debit and credit system of double entry system.

Write short note on Normal loss and abnormal loss.

Mr.Arjun furnishes the following data relating to the manufacturing of a standard product for the month of January 2016. Material Rs.90000 Direct Wages Rs.60000 Depreciation of Machinery Rs.11500 Power and consumable stores Rs.12000 Indirect wages at Factory Rs.15000 Lighting at factory Rs.5500 Cost of Rectification of defective work Rs.3000 Sale of Scrap Rs.2000 Office and selling overhead Rs.39000 Selling price Rs.39000 Prepare the cost sheet.

A Product is finally obtained after it passes through three different processes. The following information is available from the cost records. Particular Process-1 Process-2 Process-3 Total Materials (in Rs .) 26000 20000 10250 56250 Direct Wages (in Rs .) 22500 36800 14000 73300 Production overhead(in Rs .) 22500 36800 14000 73330 Actual output 4500 units 3400 units 2700 units. Normal loss as percentage of 10 % 20 % 25 % input Value of Scrap units Rs.2 per Rs.4 per Rs.5 per unit unit Unit 5000 units @ Rs.4 per unit were introduced in Process-1. Prepare the Process Accounts, Abnormal loss and Abnormal gain Accounts. Page 2 of

The Balance sheet of X LTd as on 31st March 2014 and 31st March 2015 were as follows. Particulars 31-3-2014 31-3-2015 (in Rs.) (in Rs.) Assets Land and building 80000 120000 Plant and machinery 500000 800000 Stock 100000 75000 Sundry debtors 140000 150000 Prepaid expenses 14000 12000 Cash at Bank 16000 18000 Liabilities Share capital 500000 700000 Profit and loss accoubt 100000 160000 General reserve 50000 70000 Sundry debtors 163000 200000 Bills payable 30000 40000 Outstanding expenses 7000 5000 Additional information 1.Rs.50000 depreciation has been charged to plant and machinery during the year 2015. 2.Apiece of machinery was sold for Rs.8000 during 2015.It had cost of rs.12000.Depreciation of Rs.7000 has been provided on it. Prepare cash flow statement ………… Page 3 of