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accounting
Dr. T.K. Jain.
AFTERSCHOOOL
M: 9414430763
tkjainbkn@yahoo.co.in
www.afterschool.tk
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You have received an order for 10 reams @
1800 per reams. Ink and other material will
cost you Rs. 5000. Other consumables are Rs.
3000. Your fixed costs are Rs. 500000. You are
manufacturing Reams and many other
products. Should you accept order?
You are getting Rs. 18000. Your variable
costs are Rs. 8000. You hare able to save
Rs. 10000 and your contribution per unit is
1000 Rupees per ream = it is positive.
Definitely you must accept the order.
Leave calculation of fixed costs for the
time being – as you are already running
many factories. (answer).
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You have a customer who demands 6 months
credit. You have 20% margins. Your customer
has assured that they will buy in future also
and their purchase will increase @ 20% per
annum.
Bank will charge 16% interest on Cash Credit
facility & 15% on bill discounting. What will you
do? (there is no possibility of bad debt).
Let us assume that you are selling goods costing
Rs. 100 – at Rs. 120.
Interest on Rs. 100 for 6 month is Rs. 8 and if you
go for bill discounting, it will cost you Rs. 9. In any
case you get benefit Rs.20 – Rs. 8 = Rs. 12 thus
you must provide credit facility to customer. In
the years to come sale will increase so you will
get more beneifts in the years to come.
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Annual sales rs. 24000, direct costs Rs. 4.6
overheads = 52800 selling commission = 15%.
Targetted profit .102 per unit. What should be
selling price?
Let us assume price to be X.
Total sales Rs. 24000X (qty* price per unit)
Total costs(Variable costs: 110400
Fixed cost = 52800
Selling expenses = 3600X
Profit = 24480 (1.02*24000)
Making an equation: (total sales =
costs+profit)
24000X = 110400+3600X+52800+24480
20600X=187680
X =9.11 answer
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You have to collect Rs. 100000 from your debtor
after 6 month. You have to make settlement and
get the money today. Bank’s interest rate is 12%
p.a. How much money will take from your friend
today in final settlement?
=94339 now
As it is the present worth of this
amount
Calculation is : 100000/1.06
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Direct costs are Rs. 48. 10% output is defective
and has to be sold at 10% off the normal
price. Scrap realised you Rs. 9000. You have to
earn 15% on sale price. What should be your
normal price? (sale=1lakh units)
Your cost is 48*100000=4800000 –
9000
=4791000. 10000 units are
defective.
Total sale prize realised is:
90000X + 10000 (.9X) = 100/85
(4791000)
99000X = 5636470
X = 56.94 Rs. www.afterschoool.tk
You have to give quotation for next 5 years. Your
material costs will increase 20% p.a., labour costs
will increase 5% p.a. overheads will increase at
inflation rate. Selling expenses will remain same.
Present costs are : (per unit): Material 20, labour
40, Overhead 2000000, selling expenses 20% of
price. Annual output = 30000 units (will increase
@ 10% p.a.). Inflation 10% p.a. Profit=5%on cost
Presentcost:
(1800000+2000000+.2*30000x)*1.5
=30000X
3800000*1.5 + .3*30000X = 30000X
21000X=3800000*1.5
X=271.42 answer. www.afterschoool.tk
Formulae of Barth Premium
Plan?
Hourly
rate * Square root of (Std.
Hours * actual hours).
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Flux method of labour turnover
calculation?
(No. of separations+ no. of replacements) / average no. of workers *
100
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What is EOQ?
Economic order quantity
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What is ordering cost?
Costincurred per order – including
transportation, shipping, stationery
and other expenses.
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Holding costs?
These are the costs that are incurred
in retaining inventory – including
interest to be paid to bank for credit
availed, spoilage, wastage of goods,
obsolescence etc.
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At which point will you place
order for purchase of goods?
Reorder level .
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Mention 3 methods of
incentive payments to
workers?
Bedaux
Taylor
Rowan
Halsey
Emerson,
Diemer
Group incentive plan,
Baum incentive plan
Accelerating premium system
Barth
Etc.
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Mention 2 types of
responsibility centres?
Cost centre
Profit centre
Investment centre
Expense centre
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Mention 3 methods of
depreciation calculation?
Straight line
Written down value method
Unit per hour method
Production unit method
Sinking fund method
Revaluation method
Renewal method
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Mention 3 types of errors in
accounting?
Error of commission
Error of omission
Error of principle
Compensating error
Error in balancing
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ABOUT AFTERSCHOOOL
Afterschoool conducts three year integrated
PGPSE (after class 12th along with IAS / CA /
CS) and 18 month PGPSE (Post Graduate
Programme in Social Entrepreneurship) along
with preparation for CS / CFP / CFA /CMA /
FRM. This course is also available online also. It
also conducts workshops on social
entrepreneurship in schools and colleges all over
India – start social entrepreneurship club in your
institution today with the help from afterschoool
and help us in developing society.
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Why such a programme?
To promote people to take up
entrepreneurship and help develop the
society
To enable people to take up franchising
and other such options to start a business
/ social development project
To enable people to take up social
development as their mission
To enable people to promote spirituality
and positive thinking in the world
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Who are our supporters?
Afterschoolians, our past
beneficiaries, entrepreneurs and
social entrepreneurs are supporting
us.
You can also support us – not
necessarily by money – but by being
promotor of our concept and our
ideas.
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About AFTERSCHOOOL PGPSE – the
best programme for developing great
entrepreneurs
Most flexible, adaptive but rigorous
programme
Available in distance learning mode
Case study focused- latest cases
Industry oriented practical curriculum
Designed to make you entrepreneurs – not
just an employee
Option to take up part time job – so earn
while you learn
The only absolutely free course on internet
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Workshops from
AFTERSCHOOOL
IIF, Delhi
CIPS, Jaipur
ICSI Hyderabad Branch
Gyan Vihar, Jaipur
Apex Institute of Management, Jaipur
Aravali Institute of Management, Jodhpur
Xavier Institute of Management,
Bhubaneshwar
Pacific Institute, Udaipur
Engineering College, Hyderabad
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Flexible Specialisations:
Spiritualising business and society
Rural development and transformation
HRD and Education, Social Development
NGO and voluntary work
Investment analysis,microfinance and inclusion
Retail sector, BPO, KPO
Accounting & Information system (with CA / CS
/CMA)
Hospital management and Health care
Hospitality sector and culture and heritage
Other sectors of high growth, high technology and
social relevance
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Salient features:
The only programme of its kind (in the whole world)
No publicity and low profile course
For those who want to achieve success in life – not just a
degree
Indepth knowledge and expertise
Professional approac: World class approach
Strong intellectual and business capabilities
Flexible – you may stay for a month and continue the rest
of the education by distance mode. / you may attend
weekend classes
Scholarships for those from poor economic background
Latest and constantly changing curriculum – keeping pace
with the time
Placement for those who are interested
Admissions open throughout the year
Latest and most advanced technologies, books and study
material
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Components
Pedagogy curriculum and approach based on IIM Ahmedabad and
ISB Hyderabad (the founder is alumnus from IIMA & ISB
Hyderabad)
Meditation, spiritualisation, and self development
Essential softwares for business
Business plan, Research projects
Participation in conferences / seminars
Workshops on leadership, team building etc.
Written submissions of research projects/articles / papers
Interview of entrepreneurs, writing biographies of entrepreneurs
Editing of journals / newsletters
Consultancy / research projects
Assignments, communication skill workshops
Participation in conferences and seminars
Group discussions, mock interviews, self development diaryng
Mind Power Training & writing workshop (by Dr. T.K.Jain)
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Pedagogy
Case analysis,
Articles from Harvard Business Review
Quiz, seminars, workshops, games,
Visits to entrepreneurs and industrial visits
Presentations, Latest audio-visuals
Group discussions and group projects
Periodic self assessment
Mentoring and counselling
Study exchange programme (with institutions out
of India)
Rural development / Social welfare projects
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Branches
AFTERSCHOOOL will shortly open its
branches in important cities in India
including Delhi, Kota, Mumbai,
Gurgaon and other important cities.
Afterschooolians will be responsible
for managing and developing these
branches – and for promoting social
entrepreneurs.
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Case Studies
We want to write case studies on
social entrepreneurs, first generation
entrepreneurs, ethical entrepreneurs.
Please help us in this process. Help
us to be in touch with entrepreneurs,
so that we may develop
entrepreneurs.
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Basic values at afterschoool
Share to learn more
Interact to develop yourself
Fear is your worst enemy
Make mistakes to learn
Study & discuss in a group
Criticism is the healthy route to mutual
support and help
Ask fundamental questions : why, when,
how & where?
Embrace change – and compete with
yourself only
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social entrepreneurship for
better society
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