Question1) Answer all the questions.
(i) Describe the classification of assets.
(ii) What do you understand by responsibility accounting?
(iii) What is kaizen costing?
(iv) Distinguish between operating lease and financial lease.
(v) Why Horizontal Analysis is called Dynamic Analysis? What is the use of this analysis?
Question2) Provide a specimen of cash flow statement by indirect method using imaginary figures.
Question3) Explain the utility of activity based costing to an industrial concern.
Question4) Describe and demonstrate the following ratios used in the interpretation of published accounts of companies: -
(i) Liquidity ratio
(ii) Return on investment (ROI)
(iii) Average collection period
Question5) Answer all the questions.
(i) What is accrual basis of accounting?
(ii) Write the adjustment entries for “Accrued Income” and “provision for doubtful debts”.
(iii) What is the objective zero base budgeting?
(iv) What is the utility of break even analysis?
(v) What are the different sources and uses of funds?
Question6) Create a comparative balance sheet of company with imaginary figures.
Question7) Explain the essentials of a good budgetary control system.
Question8) Describe briefly the contemporary issues in management accounting.