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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. Describe the objectives of Working Capital Management and explain its various theories in brief.

[3]

  1. Explain the nature and scope of Financial Accounting. What is the difference between Management Accounting and Financial Accounting?
  2. Differentiate between Cash flow statement and Income statement, and Cash flow statement and Receipt & Payment Account.
  3. Define capitalization. Explain the two main principles of capitalization.

[4]

  1. Explain the nature and scope of Financial Accounting. What is the difference between Management Accounting and Financial Accounting?
  2. Differentiate between: Cash flow statement and Income statement, and Cash flow statement and Receipt & Payment Account.
  3. Define 'Cost of Capital'. How will you determine the Cost of Capital from different sources?

[5]

  1. Define Financial Accounting. Explain the nature and scope of Financial Accounting. Differentiate between Financial Accounting and Management Accounting.
  2. What is 'fund flow statement'? Why is it prepared? Explain the preparation of 'Schedule of changes in working capital' and 'fund flow statement'.
  3. What is meant by inventory? Explain in brief the various techniques of inventory management.

[6]

  1. Define Financial Accounting. Explain the nature and scope of Financial Accounting. Differentiate between Financial Accounting and Management Accounting.
  2. Prepare Trading and Profit & Loss Account for the year ended 31 March 2019 and Balance Sheet from the provided Trial Balance.
  3. What are the factors affecting the cash needs of a firm? Explain the various steps involved in scientific cash management.

[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 fund? Explain with example.

[8]

  1. What is Management Accounting? Discuss the scope and advantages of management accounting.
  2. Discuss the statement 'Cost Accounting is an indispensable tool of modern management.' Explain the objectives and advantages of Cost Accounting.
  3. Define maximum stock level, minimum stock level, ordering level, average stock level, danger level, and economic order quantity. How are these calculated?

[9]

  1. Explain the difference between Cost Accounting and Management Accounting.
  2. Explain FIFO, LIFO, and Weighted Average Price methods for pricing issue of materials.
  3. Discuss the difference between marginal costing and absorption costing techniques of costing.

[10]

  1. Determine the stock rate for pricing issue considering the given data and provision for deterioration.
  2. Explain the different components of total cost.
  3. Prepare stores ledger account as per FIFO method based on the provided receipts and issues data.

[11]

  1. Discuss in detail the functions and scope of Management Accounting.
  2. Explain the installation of a Costing system.
  3. Explain the concept of Material and Labour Variances.

[12]

  1. Explain the relationship between Financial, Cost, and Management Accounting.
  2. What is the significance of the term 'Variance' relating to standard costing? What type of variances are computed for materials, labour, and factory costs?
  3. Prepare a Cost Sheet showing cost per unit from the provided data of a factory manufacturing 20,000 units of product A.

[13]

  1. What are the purposes of Management Accounting?
  2. Explain Direct and Indirect Cost.
  3. What do you understand by Job Order Cost Accounting and make a format of Job Cost sheet.

[14]

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

[15]

  1. Explain in brief the functions of management accounting.
  2. Write the distinction between management accounting and financial accounting.
  3. Using provided material data, calculate material usage variance, material mix variance, material revised usage variance, and material yield variance.

[16]

  1. Explain the various steps in installing a Management Accounting system.
  2. What do you mean by Budgetary Control?
  3. What is Zero Base Budgeting?

[17]

  1. Distinguish Management Accounting from Financial Accounting.
  2. Explain the classification of balance sheet items.
  3. Explain the Traditional theory of cost of capital and capital structure.

[18]

  1. What do you mean by Management Accounting? Discuss its nature and scope.
  2. What is meant by Cost Accounting? Explain its objectives and limitations.
  3. What do you mean by Element of Cost? Explain clearly the element of total cost.

[19]

  1. Write down the scope of Management Accounting.
  2. Differentiate between Management Accounting and Cost Accounting.
  3. Distinguish between direct labour and indirect labour with suitable examples.

[20]

  1. What do you mean by ABC analysis?
  2. Write a note on classification of cost.
  3. What are LIFO and FIFO methods in materials accounting?

[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 understand by the term Cost? Explain the different elements of Cost.

[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 Absorption Costing Technique?

[23]

  1. Define Financial Accounting. What is the difference between Financial Accounting and Management Accounting?
  2. What is Funds Flow statement? How is it prepared? What are its limitations?
  3. Write short notes on the following: (i) Current Assets (ii) Current Liabilities (iii) Liquid Ratio.

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