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BCA 4th
Semester
BCA 4040
Accounting and Financial Management
Q1. Define Accounting . Briefly explain the “Entity concepts” and “Money
Measurement Concept” of accounting
Ans:
Accounting is an important endeavor .
Accounting was first practiced and then theorized. Accounting concepts and
conventions as used in accountancy are the rules and guidelines by that the
accountant lives. All formal
Q2. What is
rectification of error ? List and explain the stages where the errors are
deducted for rectification.
Ans.
Errors
and their Rectification
Rectification
of errors may be define as correction of errors which had been done in the
books of accounts of company due to ignorance or not knowing the principles of
accounting. Sometime, errors may be due to cheating by accountant or other
employees. At that case rectification of errors is so difficult because
cheaters try to best to hide the error. At that time, investigation should be
done by independent auditor. Rectification of accounting
Q3. Explain
the various steps in financial planning.
Ans
The financial planning process involves the following
steps:
·
Projection
of financial statement
·
Determination
of funds needed
·
Forecast
the availability of funds
·
Establish
and maintain control system
·
Develop
procedures
1.Projection
of financial statement:
Financial
statement are the two company’s profit & loss account and the balance
sheet.These two statements can be prepared for a certain period of future time
and they help the manager to determine the amount of fund
Q4. What is
inventory management and explain the following
1. Economic
Order quantity
2. Reorder
point
Ans.
The term ‘inventory’ refers to the stockpile of
products. Inventory comprises of those assets which will be sold off in the
near future and moneys recovered. Inventory consists of three type of assets –
raw materials, semi
Q5. Explain the different steps involved in preparation
of Fund Flow Statements.
Ans Steps in Preparation of Fund Flow Statement
- Preparation of
schedule changes in working capital (taking current items only).
- Preparation of
adjusted profit and loss account (to know fund from [or] fund lost in
operations).
- Preparation of
accounts for non-current items (Ascertain the hidden information).
- Preparation of
the fund flow statement.
Q6. What is cost ? Discuss the factors involved in
estimating the cost
Ans. Accounting
records and financial statements prepared on the basis of accounting records do
not provide all the information required by managers of a business.
Organizations have to maintain many other types of records . One such record is
cost record. Cost records provide cost data to managers. What is the meaning of
cost,
Get
fully solved assignment. Buy online from website
online
store
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drop a mail with your sub code
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rs 125/subject and rs
500/semester only.
if
urgent then call us on 08791490301, 08273413412
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