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Solvezone Blog

Date:20-Oct, 2018 07:22 AM
Blog Titlle:: Financial Accounting And Analysis
Blog:

NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Financial Accounting and Analysis
Internal Assignment Applicable for December 2018 Examination

Assignment Marks: 30

Instructions:
 All Questions carry equal marks.
 All Questions are compulsory
 All answers to be explained in not more than 1000 words for question 1 and 2 and for
question 3 in not more than 500 words for each subsection. Use relevant examples,
illustrations as far as possible.
 All answers to be written individually. Discussion and group work is not advisable.
 Students are free to refer to any books/reference material/website/internet for
attempting their assignments, but are not allowed to copy the matter as it is from the
source of reference.
 Students should write the assignment in their own words. Copying of assignments from
other students is not allowed.
 Students should follow the following parameter for answering the assignment questions.

Question 1
You visited Subway that’s the fast food restaurant to purchase a Combo worth Rs 499. The
restaurant paid for the raw material and utilities amounting Rs105 for each sale. In addition
to that, the restaurant also paid for certain expenses in cash in total Rs 50 per sale.
For Theoretical Answer
Assessment Parameter Weightage
Introduction 20%
Concepts and Application
related to the question
60%
Conclusion 20%
For Numerical Answer
Assessment Parameter Weightage
Understanding and usage
of the formula
20%
Procedure / Steps 50%
Correct Answer &
Interpretation
30%
NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Financial Accounting and Analysis
Internal Assignment Applicable for December 2018 Examination
Discuss how these financial transactions will be recorded by way of journal entry, and
also, discuss the various stages of the whole accounting process. (10 Marks)
Question 2
The Companies Act 1956 was the first Act which governs the various Companies
registered in India. However, in the year 2013, the Act was amended holistically to bring
more transparency in terms of accountability, presentation and disclosure aspects in
relation to various financial information of a company.
However one of your friend is of the opinion that there is only one difference between the
two Act , that is , the presentation of financial statements , previously it was governed by
Schedule VI and now Schedule III governs it.
Now, you are assigned with the task of convincing your friend that there is a huge
difference between the two Acts, by briefing him on atleast five other points of differences
between the two. (10 Marks)
Question 3
The following information pertains to the Income statement of Beta Ltd.
revenue generated from sales 1258000
closing stock 102500
profit on sale of securities 25540
Opening stock 50000
purchase of raw material 500000
direct expenses 150000
manufacturing expenses 67550
administrative expenses 68420
depreciation 15840
preliminary expenses written
off 4700
selling and distribution 45000
NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Financial Accounting and Analysis
Internal Assignment Applicable for December 2018 Examination
expenses
loss on sale of machinery 15000
interest on loan 46510
Taxes paid 25500
Earnings Before Interest &
Taxes (EBIT) ?
a. Redraft the information in the vertical form of Income statement and also, calculate
Earnings After Taxes (EAT ) (5 Marks)
b. Calculate the gross profit ratio and operating profit ratio. Discuss, how they differ
from each other? (5 Marks)
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