INSTITUTE OF MANAGEMENT AND TECHNOLOGY PUNNAPRA, ALAPPUZHA

First Semester MBA Degree Examination January, 2011

Financial Accounting

1. Difference between Financial Accounting, Cost accounting and Management

Accounting?
2. Difference between Book-keeping, Accounting, and Accountancy?
3. Explain Accounting principles?(Mention the concepts and conventions of accounting)
4. What are subsidiary books?
5. Explain Single entry system, salient features, advantages and disadvantages?
6. What do you mean by Suspense Account?
7. What are the different types of errors in Trail balance and how can it be rectified?
8. Difference between Capital Expenditure, Revenue Expenditure and Deferred – Revenue
Expenditure?
9. Explain Manufacturing Account?
10. Explain depreciation, methods of providing depreciation, causes of depreciation,
objectives of providing depreciation and features of depreciation?
11. What do you mean by double entry system of book-keeping?
12. Explain the need for accounting and functions of accounting?
13. Is Accounting a Science or an Art?
14. Who are the end users of accounting information?
15. Explain briefly the relationship between accounting and other disciplines?
16. Explain the role of accountant?
17. What is the objective of accounting?
18. Explain the meaning and types of financial statements?
19. Explain the nature and limitation of financial statements?
20. What do you mean by accrual concept?
21. What are the various branches of accounting?
22. Difference between personal account, nominal account and real account?
23. Difference between joint products and by products?
24. Explain the fund flow of statement?
25. Define Ratio?
26. Explain the classification and types of Ratios?
27. What is solvency Ratio and what are its different types?
28. Explain the advantages and disadvantages of Ratio analysis?
29. What do you mean by profitability ratio and what are its different types?
30. What do you mean by turnover ratio and what are its different types?
31. Uses of fund flow statement?
32. Difference between fund flow statement and income statement?
33. What are the sources of funds?
34. Explain application of funds?
35. What is a treatment of provision for taxation and proposed dividend in fund flow
statement?
36. What do you mean by schedule of changing working capital?
37. Explain the following?
Assets
Liabilities
Direct income
Indirect income
Direct expense
Indirect expense
38. Explain the Elements of cost?
39. Explain Cost sheet?
40. Explain the Objectives of cost accounting?
41. What is the scope of cost accountancy?
42. What are the advantages and disadvantages of cost accounting?
43. How costing act as an aid to management in decision making?
44. What is the use of good system of cost accounting to the management?
45. What are the general principles of cost accounting?
46. What are the characteristics an ideal costing system?
47. What are the various steps for installing the costing system?
48. What are the various method of costing?
49. What are the different types or techniques of costing?
50. Explain the evolution of accounting and cost accounting?
51. What are the different cost concepts?
52. Difference between profit centre and cost centre?
53. What are the different types of cost centers?
54. What is a cost driver?
55. What is the classification of cost?
56. What do you mean by uniform costing?
57. Explain inter-firm and intra-firm compression?
58. What is zero based budgeting?
59. Difference between budgeting and forecasting?
60. What is CVP Analysis?
61. Explain
a. Breakeven point
b. PV Ratio
c. Contribution
d. Margin of safety
62. Explain the Advantages, Disadvantages and nature of Budgeting?
63. What are the Primary and Secondary Books in Accounting?
64. Difference between standard costing and variance analysis?
65. What is a cost centre?
66. What is trend analysis?
67. What do you mean by contingencies?
69 What is full and direct costing?
70 What do you mean by Accounting cycle?