Osmania University (OU) 2009-1st Sem M.Com Accounting and Finance ester, , Managerial Accounting - Question Paper

Faculty of Commerce
M.Com I semester examination, Nov/Dec 2009
Managerial Accounting

Time: three hours
Max. Marks: 80

SECTION-A
ans the subsequent ques. in not exceeding 10 lines each:
1.Define Accounting Theory.
2.Explain briefly IASB
3.What is cost centre?
4.From the subsequent make an analysis of modifications in total sales due to volume and price:
2007 2008 Increase or
reduce
Sales Rs.500000 Rs.660000 Rs.160000
No. of units sold 50000 60000 10000
Selling price per unit 10 11 1
5.What are the qualities of financial reporting?

SECTION-B
ans all the questions:
6 (a) discuss the need for the study of accounting theory and discuss briefly the important accounting theories.
OR
(b) describe Management Accounting. explain the important limitations of Management accounting.

7 (a) discuss the main provisions of Accounting Standards No.2
OR
(b) explain the role of Accounting Standards Board (ASB) in standards setting in India.

8 (a) elaborate the objectives of human resource accounting and discuss the approaches for the Human Resources Accounting?
OR
(b) Hyd ltd has two divisions namely North and South. every division is treated as an investment centre. Summaries of the statements for the division North and South for the year ending 31-3-2008 are provided below:
North Division South Division
Sales 3,50,000 4,75,000
Variable cost 1,60,000 2,05,000
Fixed overhead 1,00,000 1,45,000
Divisional assets 1,25,000 1,87,500

Assess the performance of the divisions with help of ROI, contribution and RI. presume the rate of interest on capital is 6%.

9(a) calculate the net monetary outcome of ABC Ltd as at 31-3-2008. The relavant data are provided below:
1-4-2007 31-3-2008
Rs Rs
Cash 5,000 10,000
Debtors 20,000 25,000
Creditors 15,000 20,000
Loan(taken) 20,000 20,000
Retail price Indes Numbers:
April 1,2007 : 200
March 31,2008 : 300
avg. for the year : 250
OR
(b) From the subsequent information, prepare a statement of analysis of increase in gross profit for the year ended 31st March, 2008:
2007 2008 Increase or reduce
Rs Rs Rs
Sales 4,00,000 4,50,000 +50,000
Less cost of goods sold 2,80,000 3,25,000 +45,000
Gross Profit 1,20,000 1,25,000 +5,000
Number of units sold 2,00,000 2,50,000 +50,000
Unit sale price 2.00 1.80 -0.20
Unit cost price 1.40 1.30 -0.10

10(a) What is Financial Reporting? discuss different kinds of financial reports.
OR
(b) explain the latest developments in the Indian corporate reporting practices.

Earning:   Approval pending.