NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Financial Accounting & Analysis
Internal Assignment Applicable for December 2020 Examination
Assignment Marks: 30
1.
Karagiri is a Pune based startup that works with 800 families across India. The
startup
is
in the business of handloom saris. They converted the pandemic period in to an
opportunity.
The business owners realized that accounting is essential to permit
informed judgements and decisions by the user of accounts. In the light of given
definition of accounting, discuss about users
and uses of accounting information
(10 Marks)
2. Mr. Kohli is planning to invest in the share market. He wants
to study the Balance
Sheet of Amul Industries. He wants your guidance in finding the
various elements of
the Balance Sheet of Amul Industries. Kindly discuss the same (10
Marks)
3. Discuss for question (a) and (b)
- Define and identify the type of Income / Expenses
- Treatment of the Income / Expenses in the Profit and Loss
account, Impact of the
Income / Expenses in the Balance Sheet
a. You purchased 10 shares of L& T Company last year. On 5th
March 2019, the
company has declared a dividend Rs 50 per share. The income is
earned but not yet
collected in your account during this financial year. (5 Marks)
b. On 5th March 2019, Mehta
Brothers received 100% advance for goods, to be supplied
in the next month. The Cost of the goods was Rs50000. They usually
sells the goods at
10% mark up. (5 Marks)
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