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ASSIGNMENT DRIVE – Winter 2017
PROGRAM MBA
SEMESTER 3
SUBJECT CODE & NAME FIN301 -
SECURITY ANALYSIS AND PORTFOLIO
SET
1
Q1. Explain the business cycle and
leading coincidental & lagging indicators. Analyse the issues in
fundamental analysis. 10
●
Explanation of business
cycle-leading coincidental and lagging indicator 6
● Analysis
and explanation of the issues in fundamental analysis all the four points 4
Answer:-
Explanation
of the business cycle and leading coincidental & lagging indicators:
All
economies experience recurrent periods of expansion and contraction. This recurring
pattern of recession and recovery is called business cycle. The business cycle
consists of expansionary and
Q2 Explain the Meaning and Benefits
of Mutual Fund.
●
Explain the Meaning of Mutual Fund 5
10
● Elucidate
the various Benefits of Mutual Funds 5
Answer:-
A mutual
fund is a type of financial intermediary that pools funds of investors with
similar investment objectives and invests them in different types of financial
claims (equity shares, bonds, money market
.
Q 3. Briefly explain Financial
Derivatives.
2. Differentiate between Stocks and
Bonds
·
Meaning and composition 5
·
Differences between Stocks and
Bonds 5
Answer:-
Financial Derivatives
Derivatives
are securities which are linked to other securities, such as stocks or bonds.
Their value is based off of the primary security they are linked to, and they
are therefore not worth anything in and of themselves. There are literally
thousands of different types of financial derivatives. However, most investment
and financial
SET 2
Q 1.
|
|
Returns
(%)
|
|
|
Probability
|
P
|
M
|
|
0.35
|
30
|
30
|
|
0.20
|
10
|
-10
|
|
0.45
|
20
|
20
|
This
distribution of returns for share P and the market portfolio M is given above. Calculate
the Expected Return of Security P and the market portfolio, the covariance
between the market portfolio and security P and beta for the security.
1.
Expected Return of Security P and the market portfolio, 5
2.
Covariance between the market portfolio and security P 3
3. Beta
for the security. 2
Answer:-
Answer:-
|
Probability
|
Returns
(Rp )(%
|
Expected
return (Rp) x (P)
|
Deviation
(Rp – Erp)
|
Deviation Square (Rp – Erp)2
|
(Rp
– Erp)2 x(P)
|
Q 2. Explain the four crucial criteria of Financial
Ratio while judging financial performance.
·
Four Crucial Criteria of Financial Ratio 10
Answer:-
Financial ratios
are commonly used to analyse a company’s financial performance. Analysts
examine ratios at two levels: (1) a company’s ratios for a period compared to
previous periods (time series analysis or trend analysis) and (2) a company’s
ratios compared to those of comparable companies (cross-section
Q 3- 1. Distinguish between Business
Risk and Financial Risk
2. Discuss the Factors affecting Industry analysis
·
Describe Business Risk and Financial
Risk Separately 5
·
Factors affecting Industry Analysis 5
Answer:-
Business and financial risk
Investors look for a return that is
relative to the perceived risk associated with the company. The risk can be
measured as variability of the company’s after-tax cash flows. A company’s
overall risk has two
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DRIVE
Winter
2017
PROGRAM
MASTER
OF BUSINESS ADMINISTRATION (MBA)
SEMESTER
III
SUBJECT
CODE & NAME
FIN302
– MERGERS AND ACQUISITIONS
Q.
1. Explain the basis for arriving at Fair Price.
·
Explanation
for the basis for arriving at Fair Price. 10
Answer:-
Basis for arriving at fair price
All-India level financial institutions and banks
follow the following criteria for calculating the fair value.
1.
Past
record of the company: The fair price is worked out on the
basis of the track record of the
2.
Q
2. Explain the concept of Synergy and the prerequisites for its creation.
a)
Explanation of the concept of Synergy 4
b) Explanation of the prerequisites for its
creation 6
Answer:-
a)
Explanation of the concept of Synergy
Synergy refers to a situation where the combined
value of a merger is more than the sum of the values of merging
Q3.
Explain Demerger and its tax implication.
a)
Explanation of Demerger 4
b) Explanation of the Tax Implication of
Demerger 6
Answer:-
a)
Explanation of Demerger
Demerger is
often used to divide or separate some undertakings of a business, functioning
till then under a
SET-II
Q.
1. A strategic alliance is when two or more businesses joins for a set period.
Explain its advantages. Explain the tax aspect of Joint Venture.
1)
Advantages of Strategic Alliance 5
2)
Tax aspect of Joint Venture. 5
Answer:-
1)
Advantages of Strategic Alliance
1.
Gain a means of distribution in international market: It
may be advantageous for an exporter to ally with a local partner to understand
the working of the local market network.
2. Overcome legal or regulatory barriers:
In some countries, it is obligatory to have local partner so that the business
can be conducted smoothly.
3.
Diversification: It is beneficial to enter into an
alliance as a business guide so that downsides in a new business territory are
kept to a minimum.
4.
Reducing competition: A market leader or a major
competitor can enter an alliance to reduce competition.
5.
New product development: An alliance may focus on the
development of new products in the form of a research and development alliance.
6.
Restructuring: An alliance may be helpful in
transferring the company to a more efficient organisational structure.
2)
Tax aspect of Joint Venture
JV companies get advantageous tax treatment in
special cases. The Indian Income Tax Act gives benefits to industries set up as
100% export-oriented units, or in export processing zones. Infrastructure
industries in the areas of power, telecommunications, ports, etc. get tax
breaks and rebates. Small scale industries i.e., industries entailing
investment up to prescribed values get direct and indirect tax benefits. Indian
government also offers subsidies to industries set up in backward or rural
areas by way of actual cash disbursements, reduced rates for land, etc.
If a corporation contributes a patent technology to
a JV, the tax incidence may be less than royalties earned through a licensing
arrangement.
Example
One partner contributes the technology, while
another contributes depreciable facilities. The depreciation offsets the
revenues accruing to the technology. The JV may be taxed at a lower rate than
its individual partners would have been. The partners pay capital gains tax on
the returns realised by selling the JV. If the JV is organised as a corporation
only, its assets are at risk. The partners are liable only to the extent of
their investment. This is particularly important in hazardous industries where
the risk of workers, production, or environmental liabilities is high
Q.2: Explain the types of takeovers. Explain
defenses against takeover bids.
a) Types of takeovers.
b) Defenses against takeover bids.
ANS:
a) Types of takeovers:
Takeovers are of
different types.
Bailout takeovers
Bailout takeover refers to a substantial acquisition of shares in a financially
weak company in pursuance to a scheme of rehabilitation approved by a public
financial institution or a scheduled
Q.3: Explain the factors in Post-merger integration
and Five rules of Integration Process.
a) Explanation of factors in Post-merger
integration.
b) Explanation of Five rules of Integration Process.
ANS:
a) Explanation of factors in Post-merger
integration:
Some important
factors that can decide the success or failure of a merger or acquisition are:
Due
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DRIVE
Winter 2017
PROGRAM
MBA
SEMESTER
3
SUBJECT CODE &
NAME
FIN 303
TAXATION
MANAGEMENT
Note:
Answer all questions. Kindly note that answers for 10 marks questions should be
approximately of 400words. Each question is followed by evaluation scheme.
Q1.Explain the objectives of tax planning.
Discuss the factors to be considered in tax planning.
(Objectives
of tax planning, Factors in tax planning) 5,5
Answer-1
Objectives
of Tax Planning
The
prime objectives of tax planning are:
Multi-dimensional investment decisions: In a democratic welfare state
like India the government requires substantial
Q2.Explain the categories in Capital assets.
Mr. C acquired a plot of land on
15th June, 1993 for 10,00,000 and sold it on 5th
January, 2016 for 41,00,000. The
expenses of transfer were 1,00,000.
Mr. C made the following
investments on 4th February, 2016 from the proceeds of the plot.
a) Bonds of Rural Electrification
Corporation redeemable after a period of three years,12,00,000
b) Deposits under Capital Gain
Scheme for purchase of a residential house 8,00,000 (he does not own any house)
Compute the capital gain
chargeable to tax for the AY2016-17.
(Explanation of categories of
capital assets, Calculation of indexed cost of acquisition, Calculation of long
term capital gain, Calculation of taxable long term capital gain) 4,2,2,2
Answer-2
Categories
of capital assets
For
taxation purposes, the capital assets have been, divided into (a) short term capital
assets and (b) long-term capital assets.
(a)
Short-
Q3.Explain major considerations in capital
structure planning. Write about the dividend policy and factors affecting
dividend decisions.
(Explanation
of factors of capital structure planning, Explanation of dividend policy,
Factors affecting dividend decisions) 6, 2, 2
Answer-3
Major
considerations in capital structure planning
Broadly,
the following factors would be worth considering, while planning the capital
structure.
1.
Risk of two kinds, that is,
financial risk and business risk: In the context of capital
structure planning, financial risk is more relevant.
2.
SET
2
Q1.X Ltd. has Unit C which is not functioning
satisfactorily. The following are the details of its fixed assets:
The
written down value (WDV) is ` 25 lakh for the machinery, and15 lakh for the
plant. The liabilities on this Unit on 31st March, 2016 are35 lakh.
The
following are two options as on 31st March, 2016:
Option
1: Slump sale to Y Ltd for a consideration of 85 lakh.
Option
2: Individual sale of assets as follows: Land ` 48 lakh, goodwill ` 20 lakh, machinery
32 lakh, Plant 17 lakh.
The
other units derive taxable income and there is no carry forward of loss or
depreciation for the company as a whole. Unit C was started on 1st January,
2005.Which option would you choose, and why?
(Computation
of capital gain for both the options, Computation of tax liability for both the
options, Conclusion) 4,4,2
Answer-4
Option
1: Slump sale
Q2.Explain the Service Tax Law in India and
concept of negative list. Write about theexemptions and rebates in Service Tax
Law.
(Explanation
of Service Tax Law in India, Explanation of concept of negative list,
Explanation of exemptions and rebates in Service Tax Law) 5, 2 , 3
Answer-5
Service
Tax Law in India
Service
tax was introduced in India in 1994 by Chapter V of the Finance Act,1994. It
was imposed on an initial set of three services in 1994 and the scope of the
service tax has since been expanded continuously by subsequent Finance
Q3.What do you understand by customs duty?
Explain the taxable events for imported, warehoused and exported goods. List
down the types of duties in customs
An
importer imports goods for subsequent sale in India at $10,000 on assessable
value basis. Relevant exchange rate and rate of duty are as follows:
|
Particulars
|
Date
|
Exchange
Rate Declared by CBE&C
|
Rate
of
Basic
Customs
Duty
|
|
Date of submission
of
bill of entry
|
25th
February, 2015
|
45/$
|
8%
|
|
Date of entry
inwards granted to
the
vessel
|
5th March,
2015
|
` 49/$
|
10%
|
Calculate
assessable value and customs duty.
(Meaning
and explanation of customs duty, Explanation of taxable events for imported,
warehoused and exported goods, Listing of duties in customs, Calculation of
assessable value and customs duty) 2, 3, 2, 3
Answer-6
Meaning and explanation of
customs duty
Customs
duty is the duty imposed on goods imported into the country. In the years
before globalization it was difficult to import goods on account of stiff duty
rates and procedures, especially for less developed and developing nations like
India. A joke
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ASSIGNMENT DRIVE Winter 2017
PROGRAM Master of Business
Administration - MBA
SEMESTER III
SUBJECT CODE & NAME FIN304
Internal Audit and Control
SET
1
Q1 What do you mean by Financial
Audit? What are the advantages of Financial Audit?
·
Define
and Explain Financial Audit
·
Explain
the various advantages of Financial Audit
4+6 =10
Answer:-
Definition and Explanation of
Financial Audit:-
Financial
Audit is a specialized discipline with its own principles, standards,
postulates, procedures and technique
Q2 Write short notes on Key
Objectives of Internal Audit System and Essentials for effective Internal Audit
·
Objectives
of Internal Audit System
·
Essentials
for effective Internal Audit 5+5=10
Answer:-
The
key objectives of a good internal audit system are:
1. Evaluation
of
Q3 What are the factors that are to
be considered in Internal Audit Planning?
·
Explain
the factors that are to be considered in Internal Planning Audit 10
Answer:-
Factors to be considered in
internal audit planning
1. Audit objectives: The
detailed audit plan largely depends upon the specific objectives to be achieved
by the audit. Normally, internal audit has the following objectives:
a)
SET
2
Q1 What are the basic principles
that are governing internal audit?
·
Explain
the principles that are governing internal audit 10
Answer:-
The basic principles governing
internal control are as follows:
1.
A proper system, preferably in writing, must be implemented so that
origination, recording and accounting of business transactions take place in a
standardised way.
2.
The
Q2 What is Audit Risk? What are the
various important elements that an insurance company should ensure for
effective internal control system?
·
Elaborate
Audit Risk
·
Explain
the various important elements that an insurance company should ensure for
effective internal control system 3+7=10
Answer:-
Audit Risk:-
Audit
risk is the
Q3 What the various important
features of a good internal audit report
·
Explain
the various features of a good internal audit report 10
Answer:-
The important features of a good
internal audit report are:
1. Objectivity: To
maintain the credibility of internal audit function the comments and opinions
expressed in the report should be objective and unbiased.
2. Clarity: The
language used
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