ALL 7 Questions must be Compulsory.
[14 marks]Tax Credit
[ marks]Steeped Fixed Cost
[ marks]Double Taxation
[ marks]Materiality Concept
[ marks]XBRL
[ marks]Long term Liability
[ marks]Intangible Assets
[ marks]Journalize following transactions in the book of Bangal Tigers Ltd. 1. Banergee started business with cash Rs. 1,00,000 5. Purchased goods for cash Rs. 80,000 from Srivastava Ltd. 10. Opened a bank account in CICIC Ltd. with Rs. 50,000 11. Purchased furniture from Kolkata Ltd. Co. Rs. 60,000 AND Purchased goods from Rasogulla Traders of Rs. 45,000 by cheque. 17. Sold goods to Victoria and Sons Rs. 32,000 21. Acrossed cheque of Rs. 65,000 was received against Rs. 66,500 from Howra Bridge Pvt. Ltd. as the settlement of last month sales. 25. Paid salary to CEO Mr. Joy Rs. 60,500
[7 marks]It seems that Full Disclosure and Conservatism Concepts are contradicting each other. However, both are equally applicable to current multinational organizations – Explain.
[7 marks]International Accounting would involve accounting for offshore transactions of a MNCs’ – Discuss the difficulties of International Accounting in the light of given statement. Page 1 of
[4 marks]Following is the Balance Sheet of BSI Bank Ltd. and PBN Bank Ltd. for the year 2024. Carry out financial statement analysis by applying appropriate technique and interpret the result in details. Particular BSI Bank Ltd. PBN Bank Ltd. Sources of Funds: Share Capital 20,00,000 25,00,000 Reserve and Surplus 8,00,000 10,00,000 Secured Loan 3,00,000 7,00,000 Unsecured Loan 4,00,000 8,00,000 Total 35,00,000 50,00,000 Application of the Funds: Fixed Assets 25,00,000 25,00,000 Investments 3,00,000 10,00,000 Current Assets 10,00,000 25,00,000 Less: Current Liability 3,00,000 10,00,000 Total 35,00,000 50,00,000
[7 marks]BEP (Break-Even Point) analysis is a financial tool to find the sales level where total revenue equals total costs. – Discuss the benefits of BEP analysis and concept of PVR in detail.
[7 marks]What is Budget? Discuss the concept of Flexible Budget with respect to hypothetical figures.
[7 marks]Prepare a Cash Budget for three month ending 30-6-2026 from the following information. Cash Balance as on 1-4-2026 Rs. 90,000 Month Total Sales Rs. Credit Sales Return Rs. Total Purchases Rs. Feb. 2,40,000 20,000 1,40,000 March 2,60,000 30,000 1,60,000 April 3,00,000 50,000 1,80,000 May 2,80,000 40,000 1,50,000 June 2,70,000 60,000 1,90,000 1. Assume the proportion of credit and cash sales as 2:1. 2. Assume 20% of total purchase to be cash purchases. 3. 50% of net credit sales are realized in the month following the sales and remaining 50% in the second month.
[7 marks]Describe the objectives of International Taxation. Briefly explain Host Government Tax Policies. Page 2 of
[4 marks]Sakar Manufacturing Co. manufactures a E-vehicle. The cost of production of a water pump is as follows. Material per EV Rs. 80 Wages per EV Rs. 120 Variable charges per EV 50% of wages Fixed overhead per annum Rs. 6,00,000 Selling price per EV Rs. 500 Find out: 1. Break – even sales 2. Sales to make a profit Rs. 1,00,000
[7 marks]Sumul company manufactures one standard type of calculators. Its annual production capacity is 40,000 units. The information is given as per 40% and 60% production capacity for cost estimate as under. Particular 40% Production 60% Production Rs. Rs. Direct Materials 8,00,000 12,00,000 Direct Wages 4,80,000 7,20,000 Other Direct Expenses 3,20,000 4,80,000 Semi-Variable Overheads: Factory 14,00,000 16,00,000 Office 10,40,000 11,60,000 Selling and Distribution 5,60,000 6,40,000 Total Fixed Overheads 12,00,000 12,00,000 Profit or Loss -2,00,000 +14,00,000 You are requested to prepare flexible budget and find out profits or losses as per production at 50% and 75% production capacity.
[7 marks]IFRS published by IASB are the game changer for the disclosure practices in Accounting. Discuss the concept of IFRS and its challenges for implementation. Page 3 of
[4 marks]The Summarise Balance sheets of Hathi Cement Ltd. and Ambuja Cement Ltd. for the year ending 31 – 3 – 2023 is given below. From the below given information calculate following ratios and compare the profitability and solvency of the company. Liability Hathi Ambuja Assets Hathi Ambuja Equity Capital 3,00,000 3,50,000 Fixed Assets 7,50,000 5,30,000 10% Pref. 2,00,000 1,00,000 Stock 1,60,000 80,000 Capital Reserves 2,20,000 1,60,000 Debtors 70,000 65,000 10% 3,00,000 1,00,000 Cash Balance 60,000 50,000 Debentures Bank O. D. 40,000 45,000 Preliminary 20,000 30,000 Exp. Total 10,60,000 7,55,000 Total 10,60,000 7,55,000 Additional Information: Particualr Hathi Ambuja Total Sales (Cash sales is 3/5th of credit sales) 8,00,000 12,00,000 Cost of goods sold 6,00,000 8,40,000 Gross Profit 2,00,000 3,60,000 Admin., Selling and Distribution Exp. 80,000 1,20,000 Net Profit before interest and tax 1,20,000 2,40,000 Rate of Tax is 50%.
[ marks]Calculate Net Profit Ratio as well as Return on Capital Employed and compare the result of both the companies
[7 marks](b) Calculate Proprietary Ratio as well as Current Ratio and compare the result of both the companies
[7 marks]Calculate Debtors Ratio as well as Quick Ratio and compare the result of both the companies
[7 marks]Calculate Fixed Assets to Sales Ratio as well as Capital gearing Ratio and compare the result of both the companies Page 4 of
[4 marks]