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Important Questions for "management accounting":

[1]

  1. What are the different techniques of management accounting?
  2. Distinguish between Management Accounting and Financial Accounting.
  3. Describe the objectives and importance of Management Accounting.

[2]

  1. What do you mean by \"Financial Accounting\"? How is it different from Management Accounting?
  2. How accounting concepts, conventions and principles are different from Accounting Standards? Explain.
  3. What are the objectives of Financial Management? Distinguish between capitalization, capital structure and capital budgeting.

[3]

  1. Explain the nature and scope of Financial Accounting. What is the difference between Management Accounting and Financial Accounting?
  2. Define capitalization. Explain the two main principles of capitalization.
  3. Define 'Cost of Capital'. How will you determine the Cost of Capital from different sources?

[4]

  1. Explain the nature and scope of Financial Accounting. What is the difference between Management Accounting and Financial Accounting?
  2. Explain various accounting concepts in detail with the help of suitable examples.
  3. Discuss in detail the application of computers in Accounting.

[5]

  1. Define Financial Accounting. Explain the nature and scope of Financial Accounting. Differentiate between Financial Accounting and Management Accounting.
  2. From the given trial balance, prepare Trading and Profit & Loss Account and Balance Sheet for the year ended.
  3. Explain the concept and various components of working capital. What factors would you consider in planning the working capital requirements of a firm?

[6]

  1. Define Financial Accounting. Explain the nature and scope of Financial Accounting. Differentiate between Financial Accounting and Management Accounting.
  2. Explain the objectives of Ratio Analysis. Discuss various ratios used to examine the liquidity and solvency positions of a firm.
  3. What is the relevance and significance of Cost of Capital? How can you determine the cost of equity capital in a growth firm?

[7]

  1. How does Management Accounting differ from Financial Accounting?
  2. Explain the objectives of Management Accounting. Describe its importance and needs in the modern age.
  3. What do you mean by comparative statement analysis? Give the format of comparative Balance Sheet and describe its importance.

[8]

  1. What is Management Accounting? Discuss the scope and advantages of management accounting.
  2. Define maximum stock level, minimum stock level, ordering level, average stock level, danger level, and economic order quantity. How are these calculated?
  3. Calculate total contribution, contribution per unit, profit volume ratio, fixed costs, break-even point in units and in , margin of safety in units and in , sales volume to earn a specific profit, and profit for given sales volumes.

[9]

  1. Explain the difference between Cost Accounting and Management Accounting.
  2. What do you mean by absorption of factory overheads? Name four methods of absorption.
  3. Explain time rate system and piece rate system of wages payment giving their merits and demerits.

[10]

  1. Determine the stock rate for pricing issue considering the given data and provision for deterioration.
  2. Find the Labour turnover rate by replacement method based on the provided worker data.
  3. Allocate the total wages paid to the worker between direct and indirect labour indicating reasons based on the provided time card analysis.

[11]

  1. Discuss in detail the functions and scope of Management Accounting.
  2. Explain the concept of Material and Labour Variances.
  3. Prepare an income statement under Absorption Costing and Marginal Costing from the provided data including fixed cost, variable cost, production, sales, and closing stock.

[12]

  1. Explain the relationship between Financial, Cost, and Management Accounting.
  2. Explain the concept of sunk cost and relevant cost with the help of examples.
  3. What is meant by Cost Centre? What are the different types of cost centres? What purpose do cost centres serve?

[13]

  1. What are the purposes of Management Accounting?
  2. Explain Direct and Indirect Cost.
  3. Explain Variable and Mixed Cost.

[14]

  1. Discuss the role and importance of Ledgers and Journals. What are the advantages and limitations of management accounting?
  2. What are the basic principles of F. W. Taylor?
  3. Define barriers to effective planning. Explain the need of forecasting in planning process and its various techniques.

[15]

  1. Explain in brief the functions of management accounting.
  2. Write the distinction between management accounting and financial accounting.
  3. What do you understand by zero-base budgeting? Explain its advantages.

[16]

  1. Explain the various steps in installing a Management Accounting system.
  2. Explain the importance of Fund Flow Statement.
  3. What is Material Variance? What are its different types?

[17]

  1. Distinguish Management Accounting from Financial Accounting.
  2. Explain the meaning of term 'Journal'.
  3. Find out sales, closing stock, and sundry debtors based on the given financial ratios of Rainy Ltd.

[18]

  1. What do you mean by Management Accounting? Discuss its nature and scope.
  2. What do you mean by Element of Cost? Explain clearly the element of total cost.
  3. A furniture company manufactures stools, chairs and tables. The materials and wages cost per unit of furniture are given. The factory overhead during the month was Rs. 36,000. Determine the factory cost of each type of furniture assuming equivalences for overhead allocation.

[19]

  1. Write down the scope of Management Accounting.
  2. Differentiate between Management Accounting and Cost Accounting.
  3. What is margin of safety?

[20]

  1. What is cost of goods sold?
  2. What are LIFO and FIFO methods in materials accounting?
  3. What is an incentive plan for wage payment? Discuss its importance. Distinguish between Halsey and Rowan system of wage payment.

[21]

  1. Write any two functions of Management Accounting.
  2. Give an account of the evolution of management accounting as a separate branch of accounting.
  3. What do you mean by Marginal Costing?

[22]

  1. Write any two objects of Management Accounting.
  2. Define management accounting and discuss its objects. Why is it called an essential tool for management?
  3. What is meant by overhead classification?

[23]

  1. Define Financial Accounting. What is the difference between Financial Accounting and Management Accounting?
  2. What is Trial Balance? Describe the methods of Preparing a Trial Balance.
  3. What is Funds Flow statement? How is it prepared? What are its limitations?

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