EMAIL ID for ASSIGNMENT SUBMISSION

S.No Faculty Name Section Email ID

.
1 Dr. Jaya Nema A jayanema@ipsacademy.org

2 Dr. Jaya Nema B jayanema@ipsacademy.org

3 Dr. Jaya Nema C jayanema@ipsacademy.org

4 Mr. Saket Rathi D saketrathi@ipsacademy.org

5 Mr. Saket Rathi E saketrathi@ipsacademy.org

6 Dr. Gagan Bhati F gaganbhati@ipsacademy.org

7 Dr. Mansi Kukreja G mansikukreja@ipsacademy.org

 IPS Academy, IBMR
Session July - Jan 2021
Class& Semester: MBA (FT) I Semester
Assignment of: Accounting for Managers

Student Note: All the questions are compulsory. Please refer submission guidelines before preparing the
assignment.

1. Explain Types of accounts with suitable examples?

2. What do you understand by Trial Balance?
3. Briefly explain accounting concepts.
4. On 1st January 2017, a company purchased a machine for Rs 82000 and Rs 18000 were spent for its
installation. Depreciation is charged @ 10% p.a. on straight line method. This machine was sold on 30
June 2019 for Rs 50,000. Prepare Machinery a/c for three year assuming that accounts are closed on 31
December every year.
5. A Firm purchased on 1st January, 2015, certain machinery for Rs 58,200 and spent Rs 1800 for its
erection. On 1st July, 2015 additional machinery costing Rs 20,000 was purchased. On 1 st July 2017 the
machinery purchased on 1st January, 2015 having become obsolete and was auctioned for Rs 28000. On
the same date, fresh machinery was purchased at a cost of Rs 40000. Depreciation was provided
annually 31 December every year at a rate of 10% p.a. on written down value. In, 2018 however the
firm changed the method of depreciation and adopted straight line method for providing depreciation at
a rate of 5% on the original cost of the machine. Prepare machinery account from 2015 to 2018.
6.
7. The following details are available from a company’s books:
`
Stock of raw material on 1-1-2013 10,800
Stock of finished goods on 1-1-2013 28,000
Purchases during the year 2,94,000
Productive wages 1,98,800
Sales of finished goods 5,92,000
Stock of finished goods on 31-12-2013 30,000
Stock of raw material on 31-12-2013 13,600
Works overhead 43,736
Office expenses 35,524
The company is about to send a tender for large plant . The costing department estimates that the
material required for its product ion would cost ` 20,000 and wages for making the plant would cost
Rs. 12,000. Tender is to be made keeping a net profit of 20% on the selling price. State what would be
the amount of the tender, if based on the percentages.
8.

10. Cost may be classified in a variety of ways according to their nature and the information needs of the
management” Discuss.

11. Write short notes on the following:

(a) Out of Pocket Cost.
(b) Sunk Cost
(c) Opportunity Cost
 (d) Imputed Costs

12. A company has decided to introduce a system of standard costing. What are the preliminaries to be
considered before developing such a system? Explain.

13.

14.
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