Financial Accounting

NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: Financial Accounting & Analysis

Internal Assignment Applicable for December 2020 Examination

Assignment Marks: 30

Instructions:

 All Questions carry equal marks.

 All Questions are compulsory

 All answers to be explained in not more than 1000 words for question 1 and 2 and for

question 3 in not more than 500 words for each subsection. Use relevant examples,

illustrations as far as possible.

 All answers to be written individually. Discussion and group work is not advisable.

 Students are free to refer to any books/reference material/website/internet for

attempting their assignments, but are not allowed to copy the matter as it is from the

source of reference.

 Students should write the assignment in their own words. Copying of assignments from

other students is not allowed

 Students should follow the following parameter for answering the assignment questions

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

For Theoretical Answer

Assessment Parameter Weightage

Introduction 20% Concepts and Application related to the question

60%

Conclusion 20%

For Numerical Answer

Assessment Parameter Weightage

Understanding and usage of the formula

20%

Procedure / Steps 50%

Correct Answer & Interpretation

30%

NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: Financial Accounting & Analysis

Internal Assignment Applicable for December 2020 Examination

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 5 t h

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 5 t h

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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