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IGNOU Jan 2013 Accounting and Finance for Managers-Jan 13
 
Product Name : Accounting and Finance for Managers-Jan 13
Product Code : AC-04
Category : IGNOU
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Note : Attempt all the questions and submit this assignment on or before 30th April, 2013 to the coordinator of your study centerExplain in detail the various accounting concepts and discuss the application of these concepts in the preparation of financial statements.

Fairdeals Ltd. presents the balance sheets as at 31.12.2009 and 31.12.2010 as follows:

 

31.12.09

31.12.10

Assets

Rs.

    Rs.

Fixed Assets at cost

31,30,000

36,05,000

Less: Depreciation

  6,80.000

   8,20,000

 

24,50,000

27,85,000

Investments

12,50,000

13,50,000

Marketable Securities

      60,000

     30,000

Inventories

  4,10,000

  5,20,000

Book Debts

  5,30,000

   5,05,000

Cash and Bank

  1,20,000

   1,40,000

Preliminary Expenses

  1,00,000

      50,000

 

49,20,000

 53,80,000

Liabilities

Share Capital

20,00,000

25,00,000

Reserve and Surplus

  4,20,000

  4,70,000

Profit and Loss Account

  3,80,000

  4,00,000

13.5% Debentures (Convertible)

10,00,000

   8,00,000

Mortgage Loan

  3,00,000

   2,50,000

Current Liabilities

  8,20,000

   9,60,000

 

49,20,000

53,80,000

You are informed that during 2010

(i) Rs. 2,00,000 of debentures were converted into shares at par;

(ii) Rs. 1,00,000 shares were issued to a vendor of fixed assets;

(iii) A machine costing Rs. 50,000 book value Rs. 30,000 as at 31st December, 2009 was disposed off for Rs. 20,000;

(iv) Rs. 30,000 of marketable securities (cost) was disposed off for Rs. 36,000.

You are required to prepare a schedule of working capital changes and funds flow statement of the company for 2010.

3. An Analysis of S Ltd. cost records give the following information.

 

Variable Cost

Fixed Cost

 

(% of Sales)

Rs. 

Direct Material

32.8%

-

Direct Labour

28.4

-

Factory Overhead

12.6

1,89,000

Distribution Overhead 

  4.1

    58,400

Administration Overhead

  1.1

    66,700

Budgeted sales for the next year is Rs. 18, 50,000. You are required to determine:

(a) Break even sales value

(b) Profit at the budgeted sales volume

(c) Profit if actual sales: (i) drop by 10% (ii) increase by 5% from the sale.

4. Briefly explain the following

a) Rolling budget

b) Performance budgeting

c) Zero base budgeting

d) Measures of financial beverage

5. What is capital structure? Explain the features and determinants of an appropriate capital structure.

 
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