DNYANSAGAR INSTITUTE OF MANAGEMENT & RESEARCH

MBA-I/SEM-I/ASSIGNMENT (2016-17)
101 Accounting For Business Decisions

Last Date of Submission 28/10/2016

Instructions and evaluation criteria

1. All questions are compulsory
2. Answers should be hand written and on ruled sheets only
4. Assignment must be submitted to the concerned faculty only
Q1. Explain the meaning and significance of:
a. Financial Accounting
b. Cost Accounting
c. Management Accounting
w.r.t. an organization of your choice (if you have any work experience you can choose the
organization where you have worked, if not you can choose any organization). Your answer
should cover the following points:

Brief description of the organization (in 3-4 sentences)

Meaning of financial accounting and its correlation with the selected organization
Types of financial statements prepared by the selected organization and their purpose
Meaning of cost accounting and its correlation with the selected organization
Types of cost statements prepared by the selected organization and their purpose (if
no such statements are prepared, they you have to specify the reason of not
maintaining such statements)
Meaning of management accounting and its correlation with the selected organization
How management accounting can be useful in your selected organization

Q2. Following information relates to the purchases and issues transactions of XPZ category graphite
at Kokuyo Camlin Limiteds store at Chakan Pune, prepare stores ledger account as per FIFO,
LIFO simple average and weighted average method and ascertain the value of closing stock as
on 31st October 2016:
Date
st
1 Oct
rd
3 Oct
rd
3 Oct
th
4 Oct
th
5 Oct
th
6 Oct
th
7 Oct

Particulars

Opening Balance 1500 units @ Rs. 25/Issued 700 units

Issued 100 units
Loss (Spoilage/destroyed/theft) 17 units
Received from Vendor 200 units @ Rs. 24/Refund of a surplus from a work order 15 units @ Rs. 24/Issued 180 units

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th

8 Oct
th
9 Oct
th
10 Oct
th
11 Oct
th
12 Oct
th
18 Oct

Received from Vendor 240 units @ Rs. 23/Issued 3040 units

Received from Vendor 320 units @ Rs. 23.50/Issued 119 units
Refund of a surplus from a work order 15 units @ Rs. 24/Received from vendor 100 units @ Rs. 24/-

Q3. From the following transactions of Mrs. Joshi, you are required to prepare Trading A/c,
Profit and Loss A/c and Balance Sheet for the year ended 31-03-2016.

Q4. Write short notes on:

a. Relevant Cost
b. Irrelevant Cost
c. Sunk Cost
d. Opportunity Cost

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Q5. A company has three production departments and two service departments, their primary
distribution of cost is as follows:

The expenses of service department are charged on a percentage basis as follows:

Show secondary distribution under:

a. Repeated distribution method
b. Simultaneous equation method

Q6. Cash in hand of ABC Ltd. on 1st January, 2015 is 37500/-. From the information given below
prepare an estimate of cash position during the three months, January to March, 2015.

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Q7. From the following information compute:

a. Material Mix Variance
b. Material Usage Variance

Q8.

Q9. Based on the below mentioned details about ABC Ltd. and XYZ Ltd. for the year ending 31-032016, calculate:
c. Profit Volume Ratio and Break Even Point
d. Margin of Safety

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