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1. Management Programme
ASSIGNMENT
FIRST SEMESTER
2017
MS - 04: Accounting and Finance for Managers
School of Management Studies
INDIRA GANDHI NATIONAL OPEN UNIVERSITY
MAIDAN GARHI, NEW DELHI – 110 068
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2. ASSIGNMENT
Course Code : MS-04
Course Title : Accounting and Finance for Managers
Assignment Code : MS-04/TMA/SEM-I/2017
Coverage : All Blocks
Note : Attempt all the questions and submit this assignment on or before 30th
April, 2017 to
the coordinator of your study center.
1. “ Accountancy is an Information System” do you agree? Substantiate your answer with
reasons. How does an Accountant help in planning and controlling a large commercial
organisation? Explain.
2. Prepare Cash Budget for April-Oct. 2017 from the information relating to Shah Agencies, a
trading concern:-
Balance Sheet as on 31st
March, 2017
Liabilities Rs. Assets Rs.
Proprietor’s Capital 1,00,000 Cash 20,500
Outstanding Liabilities 17,000 Stock 50,500
Sundry debtors 26,000
Furniture 25,000
Dep. 5,000 20,000
----------- ----------- ---------
1,17,000 1,17,000
Sales and salaries for different months are expected to be as under:
Months Sales Salaries
April 80,000 3,000
May 52,000 2,500
June 50,000 35,000
July 75,000 4,000
August 90,000 4,000
September 35,000 3,000
October 25,000 3,000
The other expenses per month are: Rent Rs. 1,000, Depreciation Rs. 1,000, Misc. Expenses Rs. 500
and Commission 1% of sales.
Of the sales, 80% is on credit and 20% for cash. 70% of the credit sales are collected in one month
and the balance in two months. Debtors on March 31, 2017 represent Rs. 6,000 in respect of sales of
February and Rs. 20,000 in respect of sales of March. There are no debt losses. Gross profit on sales
on an average is 30%. Purchases equal to the next month’s sales are made every month and they
are paid during the month in which they are made. The firm maintains a minimum cash balance of
Rs. 10,000. Cash deficiencies are made up bank loans which are repaid at the earliest available
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3. opportunity and cash in excess of Rs. 15,000 is invested in securities (Interest on bank loans and
securitiesis to be ignored). Outstandingliabilities remain unchanged.
3. Taking a suitable example and explain how the semi-variable costs will be segregated into
fixed and variable using the Scattergraph Method.
4. Aditi Ltd.is considering the selection of one a pair of mutually exclusive investment projects.
Both wouldinvolve purchase of machinery with a life of 5 years.
Project 1 would generate annual cash flows (receipts less payments) of Rs. 2,00,000; the
machinery would cost Rs. 5,56,000 and have a scrap value of Rs. 56,000.
Project 2 would generate annual cash flows of Rs.5,00,000; the machinery would cost Rs.
16,16,000 and have a scrap value of Rs. 4,31,000.
Company use the straight line method for providing depreciation. Its cost of capital is 15%
per annum. Assume that annual cash flows arise on the anniversaries of the initial outlay,
that there will be no price changes over the project lives and that acceptance of one of the
projects will not alter the required amount of working capital.
You are required to:
(a) Calculate foreach project:
(i) the accounting rate or return (ratio, over project life, of average accounting
profit to average book value of investment) to nearest 1%.
(ii) the net present value
(iii) the internal rate or return (D.C.F. yield) to nearest 1%, and
(iv) the pay back period to one decimal place, and
(b) State which project you would select for acceptance, if either, giving reasons for
your choice of criterion to guide the decision. Ignore taxation.
5. “ Dividend can be paid only out of profits”. Explain this statement and also discuss your role
as a Finance Management in matters of dividend policy?
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