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Semester Semester-IV Course: B.Com
Short Name or Subject Code MANAGEMENT ACCOUNTING
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Management Accounting

Assignment A

  1. What do you mean by the term management accounting? Explain its characteristics and important features?
  2. Distinguish between management accounting and cost accounting?
  3. Define Fund Flow statement? Describe the purpose of preparing fund flow statmetns?
  4. Illustrate the concept of Cash Budget? Why are they prepared?
  5. What are the points taken into consideration while adopting standardcosting in an organisation?
  6. What do you understand by the term variance and Variance Analysis?
  7. Distinguish between fixed and flexible budgets?
  8. Discuss in brief the concept and significance of Responsibility Accounting?

Assignment B

Case Detail:

Break Even Point

With the week’s market rally continuing, Lloyds Banking Group has passed the break-even price on the government’s stake for the first time this year, paving the way for further share sales by the chancellor. In early trading the shares breached the 73.6p level, the average government purchase price, and hit 73.8p before slipping back to 73.38p, a 0.31p rise.

In October chancellor George Osborne unveiled plans to sell a £2bn stake in the bank to the public - billed as the biggest privatisation for 20 years - when the share price was nearly 78p. But in January he postponed the move after the stock market turbulence during the first weeks of the year, particularly in the banking sector where investors became concerned about the outlook for profits as well as the effect of negative interest rates on the sector’s balance sheets. The government has been gradually cutting back its stake, from 43% to less than 10%, but Osborne is unlikely to revive the public offer until after the EU referendum in June.

But if the shares remain above the break-even level for a sustained period, he may well decide to edge down the stake by selling in the market or to institutions.

Michael Hewson, chief market analyst at CMC Markets UK, said:

The continued recovery in the banking sector has seen Lloyds Banking Group shares move back closer to its 73.6p level breakeven price, increasing the prospects that we could well see the government look to pare down its remaining stake in the bailed out bank.Rebecca O’Keeffe, head of investment at stockbroker Interactive Investor, said:

Lloyds bank has reached the magic 73.6p, average government purchase price, for the first time this year. The slump in share price had caused George Osborne to postpone the proposed sale of their last tranche of Lloyd’s shares. If the share price stabilises above their breakeven level, this opens the door for the Chancellor to resume the share sale, which would be welcome news for both the Government and prospective investors.

Overall the FTSE 100 has continued its revival, up 21.31 points to 6174.19. But it has come off its best levels after weaker than expected UK construction data. Mining companies continue to benefit from recent Chinese measures to stimulate the economy, with Antofagasta adding 15.1p to 505.5p and BHP Billiton 20.8p better at 761.2p.

Positive results have lifted Virgin Money, up 27.5p to 367.76p, but testing groupIntertek has dropped 98p to £29.06 after final results saw a 3.5% rise in revenues to £2.1bn but a loss after a £577m impairment charge on past acquisitions. Oil and gas services group Amec Foster Wheeler has jumped more than 6% to 414.8p after it announced the completion of a £1.7bn refinancing. Analysts at Haitong said the shares were being lifted by the news and strength in the crude price but added: Full year results are due on March 10. We see a risk that that company may be forced to write down a significant portion of the goodwill associated with the Foster Wheeler acquisition at these results. We are a buyer of this stock so our message is use any weakness that may ensue from 2015 results to pick this stock up.

  1. Provide the detailed summary of the case?
  2. How and why Lloyds passes government break-even point for first time this year?
  3. Why the government has been gradually cutting back its stake, like from 43% to less than 10%,?

Assignment C

Question No.  1          

……………….. Is a document produced each year by limited liability companies containing the accounting information required by law.


  1. Annual Report
  2. Balance Sheet
  3. P &L Account
  4. Trial Balance

 Question No.  2          

…………………….emphasises the relationship between sales revenue, costs and profit in the short term.           


  1. Accounting
  2. Cost Volume Profit Analysis
  3. Arbitrage
  4. Auditing

Question No.  3          

Which committee is a group of people brought together to manage each stage of the budgetary process.  


  1. Management Committee
  2. Revenue Committee
  3. Budget Committee
  4. Grievance Committee

 Question No.  4          

…………. are the persons or organisations who owe money to the entity.  


  1. Cashiers
  2. Auditors
  3. Creditors
  4. Debtors

 Question No.  5          

………….. are calculated as profit before deducting depreciation and amortisation.          


  1. Profits
  2. Losses
  3. Financial Positions
  4. Cash Flows

 Question No.  6          

……………….. Is the use of electronic media for transactions between the company and its customers or suppliers; one aspect of e-business.        


  1. MS Word
  2. Intranet
  3. E-Commerce
  4. Internet

 Question No.  7           Average annual profit Calculated as average annual cash flow minus annual …………………           


  1. Carriage
  2. Expenses
  3. Depreciation
  4. Gross Profit

 Question No.  8          

Statements of cash expected to flow into the business and cash expected to flow out over a particular period are called …………... flow projections   


  1. NAV
  2. Profits
  3. Cash
  4. Fund

 Question No.  9          

…… is a process of management accounting which assists management decision making by providing information on the investment in a project.           


  1. Financial Accounting
  2. Capital Budgeting
  3. Management Accounting
  4. Depreciation Accounting

 Question No.  10        

………...per unit is the sales price minus the variable cost per unit. It measures the contribution made by each item of output to fixed costs and profit.        


  1. Purchase
  2. Profit
  3. Contribution
  4. Sales

 Question No.  11        

………….. Is the cost to the business of raising new finance.          


  1. IRR
  2. Cost of Capital
  3. NPV
  4. EBIT

 Question No.  12        

…………………...…. Is the systematic allocation of the depreciable amount of an asset over its useful life.       


  1. CAPM
  2. depreciation
  3. NPv
  4. Godwill

 Question No.  13        

…………………… is an asset that is held by an enterprise for use in the production or supply of goods or services, for rental to others, or for administrative purposes on a continuing basis in the reporting entity´s activities.           


  1. Fixed Asset
  2. Current Asset
  3. Depreciation
  4. Beta

 Question No.  14        

What is the combination of budgeted profit and loss account, cash flow statement and balance sheet, created from detailed budgets brought together within a finance plan.     


  1. Expense Budget
  2. Master Budget
  3. Prie Budget
  4. Overhead Budget

 Question No.  15        

The overhead recovered (applied) using a predetermined overhead cost rate is greater than the actual overhead cost of the period is called ……………………… recorded fixed overhead cost.          


  1. Over
  2. Under
  3. Estimated
  4. Budgeted

 Question No.  16        

 Absorbing overhead cost into a unit of product so that the overhead cost will eventually be recovered in the sale of the product is ………………………. cost recovery.


  1. Estimated-head
  2. over-head
  3. Under-head
  4. Budgeted-head

 Question No.  17        

The difference between the breakeven sales and the normal level of sales is called……… 


  1. Margin of Safety
  2. Real Profit
  3. Gross Profit
  4. Net Profit

 Question No.  18        

………………………. Is a system of cost accumulation where there is an identifiable activity for which costs may be collected.   


  1. Net-profit System
  2. Job-costing system
  3. Sales Costing System
  4. Depreciation Accounting

 Question No.  19        

Direct cost plus indirect cost of production is also calculated as…………… cost plus production.


  1. Nominal
  2. Real Profit
  3. Prime
  4. Actual

 Question No.  20        

Which cost that is spread over a number of identifiable units of the business, such as products or services or departments, for which costs are to be determined.  


  1. Production
  2. Sales
  3. Defective
  4. Depreciation Accounting

 Question No.  21        

…………... accounting is a term usually applied to external reporting by a business where that reporting is presented in financial terms.       


  1. Real
  2. Cost
  3. Financial
  4. Management

 Question No.  22        

Collective term for those persons responsible for the day-to-day running of a businessis nothing but………………..           


  1. Arbitrage
  2. Management
  3. Facilitation
  4. Administration

 Question No.  23        

Measurements of performance using targets that are not available in the financial reporting system are ……….... Measures.       


  1. Financial
  2. Restrictive
  3. Non-Financial
  4. Administrative

 Question No.  24        

The residual amount found by deducting all of the entity´s liabilities from all of the entity´s assets.           


  1. Gross profit
  2. Ownership interest
  3. Net Profit
  4. Depreciation

 Question No.  25        

……………………….. Involves setting objectives, then establishing, evaluating and selecting strategy, tactics and actions required to achieve those objectives. 


  1. Grievance
  2. Administration
  3. Management
  4. Planning

 Question No.  26        

…………………… activities are performed to enable output of products but are not closely dependent on how many units are produced.       


  1. HIFO
  2. FIFO
  3. LIFO
  4. ABC

 Question No.  27        

…………………. Is the ability to generate profit, based on a comparative measure e.g. profit as a percentage of sales; profit per month; profit related to capital investment. 


  1. Net Profit
  2. Profitability
  3. Accountability
  4. Productivity

 Question No.  28        

………………….. costs are recovered by charging a selling price that covers costs and makes a profit.    


  1. Recovery
  2. Accountability
  3. Goodwill
  4. Depreciation

 Question No.  29        

A supplier provides goods to a customer but retains ownership (title) the right to claim the goods if they are not paid for.     


  1. Provisional
  2. Retention of Title
  3. Surrender
  4. Accreditation

 Question No.  30        

 Money lent to a business for a short period of time, usually repayable on demand and also repayable at the choice of the business if surplus to requirements is called ……………………. finance.         


  1. Short-term
  2. Actualisation
  3. Long-term
  4. Intermediate

 Question No.  31        

A plan setting out the actions and resources needed to achieve a stated objective of the long-term plan is called…………..        


  1. Strategy
  2. Long-Term Planning
  3. Advance Planning
  4. Planning

 Question No.  32        

The length of time required for a stream of cash inflows from a project to equal the original cash outlay is called ………………....       


  1. Payback period
  2. CAPM
  3. IRR
  4. NPV

 Question No.  33        

That point of activity (measured as sales volume) where total sales and total costs are equal, so that there is neither profit nor loss.


  1. Delivered
  2. Cross-Sectional
  3. Break-even Point
  4. Actual Mark

 Question No.  34        

Bottom-up budget is initiated by inviting those who will implement the budget to participate in the process of setting the budget is also known as …………………..  budget.      


  1. Cross-Sectional
  2. Sectional
  3. Non-Participative
  4. Participative

 Question No.  35        

……………………. Is a technique of management accounting which is based on calculating the breakeven point and analysing the consequences of changes in various factors calculating the breakeven point.      


  1. Break-Even Analysis
  2. Arbitrage
  3. CAPM
  4. Fundamental Analysis

 Question No.  36        

…………….system serves the needs of management in making judgements and decisions, exercising planning and control and achieving effective communication and motivation.      


  1. Budgetory
  2. Regression
  3. Correlation
  4. Abitrage

 Question No.  37        

The cost of testing and inspecting both the materials and finished products.           


  1. Appraisal Cost
  2. Sinking Cost
  3. Average Cost
  4. Allocation

 Question No.  38        

………………. Cost is usually refers to the mean of a category of costs.    


  1. Average Cost
  2. Allocation
  3. Appraisal Cost
  4. Sinking Cost

 Question No.  39        

Cost of an activity that is required or performed each time a batch of products or services is produced.    


  1. Allocation-Level
  2. Batch-Level
  3. Unit-Level
  4. Average Cost

 Question No.  40        

Cost that are based on the amount acquired rather than the amount used. Can be direct or indirect, but are fixed in the short run.  


  1. Unit-Level
  2. Capacity Level
  3. Batch-Level
  4. Allocation-Level



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