Analyse the difference between Management accounting and financial accounting.
[5 marks]Write a Short note on Zero Based Budgeting
[5 marks]Explain the difference between Budget and Forecast.
[5 marks]What do you understand by the term Budget and Budgetary Control? Also explain usefulness of budgets for any organization.
[5 marks]How would you differentiate fixed budget from flexible budget?
[5 marks]Explain Meaning and Importance of Flexible budget.
[5 marks]Write a short note on Activity Based Budgeting
[5 marks]Give Definition of Cash Budget. State any three purposes of preparing Cash Budget.
[5 marks]Give a detailed format of Cash Budget.
[5 marks]From the following statement of profit and loss of Madhu Co. Ltd., prepare comparative statement of profit and loss for the year ended March 31, 2024 and 2025: Particulars 2023-24 2024-25 Revenue from operations 16,00,000 20,00,000 Employee benefit 8,00,000 10,00,000 expenses Other expenses 2,00,000 1,00,000 Tax Rate 40% 40%
[5 marks]Create a Common size statement for the year ended March 31, 2024 and 2025 from the information provided in Q. 4 (a)
[5 marks]Page 1 of
[3 marks]From the following statement of profit and loss of Dream Ltd., prepare Common size of profit and loss for the year ended March 31, 2024 and 2025: Particulars 2023-24 2024-25 Revenue from operations 25,00,000 18,00,000 Cost of Goods Sold 12,00,000 10,00,000 Operating expenses 1,20,000 80,000 Non Operating expenses 15,000 12,000 Depreciation 40,000 20,000 Wages 20,000 10,000
[5 marks]Create a comparative statement for the year ended March 31, 2024 and 2025 from the information provided in Q. 4 (a)
[5 marks]Prepare a Flexible budget for overheads on the basis of the following data. Ascertain the overhead rates at 50% and 60% capacity. Variable overheads: At 60% capacity: Indirect Material Rs. 6,000 Indirect Labour Rs. 18,000 Semi‐variable overheads: Electricity: (40% Fixed & 60% variable) Rs. 30,000 Repairs: (80% fixed & 20% Variable) Rs. 3,000 Fixed overheads: Depreciation Rs. 16,500 Insurance Rs. 4,500 Salaries Rs. 15,000 Total overheads Rs. 93,000 Estimated direct labour hours 1,86,000
[5 marks]Give a Detailed format for flexible budget at any three level of capacity showing contribution and net profit.
[5 marks]TATA Co. Ltd. is to start production on 1st January 2011. The prime cost of a unit is expected to be Rs. 40 (Rs. 16 per materials and Rs. 24 for labour). In addition, variable expenses per unit are expected to be Rs. 8 and fixed expenses per month Rs. 30,000. Payment for materials is to be made in the month following the purchase. One‐third of sales will be for cash and the rest on credit for settlement in the following month. Expenses are payable in the month in which they are incurred. The selling price is fixed at Rs. 80 per unit. The number of units to be produced and sold is expected to be: January 900; February 1200; March 1800; April 2000; May 2,100June 2400 Draw a Cash Budget indicating cash requirements from month to month. Page 2 of
[3 marks]Explain any case you have observed in real life which shows the usefulness of financial statement analysis Page 3 of
[3 marks]