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JAIPUR NATIONAL UNIVERSITY, JAIPUR
School of Distance Education & Learning
Internal Assignment No. 1
Master of Business Administration
Paper Code: MBA– 101
Paper Title: Accounting for Managers
Last date of submission: Max. Marks: 30
Note: Question No. 1 is of short answer type and is compulsory for all the
students. It carries 1 Mark each.
Q. 1. Answer all the questions:
(i) Write two objectives of financial statement analysis.
Answer : Objectives of financial statement analysis are as follows:
1.Assessment Of Past Performance- Past performance is a good indicator of future performance.
Investorsorcreditorsare interestedinthe trendof pastsales,costof goodsold,operatingexpenses,
(ii) What do you mean by Revenue Centre?
Answer:A revenue centerisadistinctoperatingunitof abusinessthatisresponsiblefor generating
sales. For example, a department store may consider each department within the store to be a
revenue center,suchasmen'sshoes,women' shoes, men's clothes, women's clothes, jewelry, and
(iii) What is Depreciation? How it is calculated?
Answer : In accounting terms, depreciation is defined as the reduction of recorded cost of a fixed
asset in a systematic manner until the value of the asset becomes zero or negligible.
How to calculate depreciationinsmall business? There three methods commonly used to calculate
(iv) Differentiate between assets and liabilities.
Answer:Assetsare the propertyandothertangible thingspossessed by a company, which are used
for the production of goods and services.Assets are what you own. According to accounting

2. (v) What is the use of preparing Sales Budget?
Answer : Purpose of preparing Sales Budget:-
1. Planning :-
The company formulatesmarketingandsalesobjectives;the budget determines how these
(vi) What is full disclosure convention?
Answer : For a business, the full disclosure principle requires a company to provide the necessary
informationsothatpeople whoare accustomedtoreadingfinancial informationcanmake informed
(vii) Name the various material variances.
Answer:Material variance has twodefinitions,one relating to direct materials and the other to the
size of a variance. They are:
 Related to materials. This is the difference between the actual cost incurred for direct
(viii) What is the objective of preparing Trial Balance?
Answer:Trial Balance isa statementof debitandcreditbalancestaken out from all ledger accounts
includingcashbook.The goldenrulesthat“Accountingequationremainsbalanced all the time” and
(ix) State the formula for calculating PV Ratio.
Answer: Profit-volumeratioindicatesthe relationshipbetweencontributionandsalesandisusually
expressed in percentage.
The ratio shows the amount of contribution per rupee of sales. Since, in the short-term, fixed cost
(x) Write the adjustment entry for “Manager’s Commission on Net Profit”.
Answer:Sometimesthe managerisentitledfora commission on profits which is usually calculated
at a fixed percentage of the profits. Let us take an example.
Suppose, a firm has earned Rs. 300000 as profits in the financial year 2016-17 without charging the
Note:Answer any four questions. Eachquestion carries 5 marks (Word limits
500)
Q. 2. Discuss all the concepts of accounting.
Answer: There are a number of conceptual issues that one must understand in order to develop a
firm foundation of how accounting works. These basic accounting concepts are as follows:

3. Accrualsconcept. Revenuesare recognizedwhenearned,andexpensesare recognized when assets
are consumed. This concept means that a business may recognize sales, profits and losses in
amounts that vary from what would be recognized based on the cash received from customers or
whencash ispaidto suppliersandemployees.Auditorswill onlycertifythe financial statements of a
Q. 3. Define Zero Base Budgeting. What are the steps involved in this?
Answer:Thisbudgetisthe preparation of budget starting from Zero or from a clean state. As a new
technique it was proposed by Peter Pyher of Texas Instruments Inc., U.S.A. This technique was
introducedinthe budgeting in the state of Gorgia by Mr. Jimmy Carter who was then the Governor
of that state. When Mr. Carter later on became President of the U.S.A., ZBB was tried in federal
budgeting as a means of controlling state expenditure.
Q. 4. Explain and illustrate any two of the following ratios used in the interpretation of published
accounts of companies: -
a. Current ratio
Answer:
b. Return on Net Worth
Answer:
c. Debt Equity Ratio
Answer:
Q. 5. What are the different types of budgets prepared in an organization?
Answer: Budgets help businesses track and manage their resources. Businesses use a variety of
budgetstomeasure theirspendinganddevelopeffective strategies for maximizing their assets and
revenues. The following types of budgets are commonly used by businesses:
Q. 6. Give a specimen of cash flow statement by indirect method using imaginary figures.
Answer: What is the Cash Flow Statement Indirect Method?
The indirectmethodforthe preparation of the statement of cash flows involves the adjustment of
net income with changes in balance sheet accounts to arrive at the amount of cash generated by
operating activities. The statement of cash flows is one of the components of a company's set of
financial statements, and is used to reveal the sources and uses of cash by a business. It presents
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