Financial Accounting & Analysis Assignment Help Online

School for Continuing Education (NGA-SCE)
Course: Financial Accounting & Analysis
Internal Assignment Applicable for June 2022 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. For the following transactions, analyze the accounting transactions using the accounting
equation framework (10 Marks)
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 60%
Correct Answer &
Interpretation
20%

 

School for Continuing Education (NGA-SCE)
Course: Financial Accounting & Analysis
Internal Assignment Applicable for June 2022 Examination
1. Introduced Rs500000 through a cheque by the Owner as the Initial capital in the
business
2. Purchased goods on credit from Ms. Ritu at Rs 40000
3. Paid Rs 10000 as salary to the employees
4. Invested Rs200000 in a fixed deposit account
5. Paid school fees of the kid Rs 25000, from the business’s bank account.
Note: (2*5 = 10 marks) 1 marks for analyzing each transaction and 1 mark for
correct journal entry
2. You started learning the course of financial accounting and analysis in the MBA
Program. You learned about commonly used accounting terms. Discuss about any five
terms which are commonly used by the different users of accounting information for the
sake of understanding the financial statements
Student may define and describe about any five terms
(10 Marks)
3. From the given information
Amount in Lakhs
cost of goods sold 580
opening stock 40
closing stock 70
creditors at the beginning of the year 60
creditors at the end of the year 100
cash purchases 45
Original cost of equipment sold 400
Gain on the equipment sold 50
Accumulated depreciation on the equipment 80

NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Financial Accounting & Analysis
Internal Assignment Applicable for June 2022 Examination
Calculate:
a. Total purchases, credit purchases and payment to creditors (5 Marks)
b. Define the term Net book value, Accumulated depreciation calculate the net book value
and cash proceeds from sale of investment (5 Marks)
**********

 

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Financial accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions. The three main financial statements are the balance sheet, income statement, and statement of cash flows.

The balance sheet shows a company’s assets, liabilities, and equity at a specific point in time. The income statement shows a company’s revenue and expenses over a period of time. The statement of cash flows shows how a company’s cash has changed over a period of time.

Financial accounting is important because it provides information that is used in making business decisions. For example, financial statements can be used to assess a company’s financial health, make investment decisions, and set prices.

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