Advanced cost Accounting lecture notes

advanced cost accounting and cost systems case studies. advanced cost accounting objective questions with answers. lecture notes in cost accounting pdf free download
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 3970 – 25 M.Com. (Part – II) Examination, 2011 Group – B : Advanced Cost Accounting and Cost System (Optional Paper) Paper – III : COST AND MANAGEMENT AUDIT (2002 Pattern) (Old) Time : 3 Hours Max. Marks : 100 Instructions : 1) Attempt all questions. 2) All questions carry equal marks. 3) Use of Non-Programmable calculator is allowed wherever necessary. 1. “Cost Audit can appropriately be called as an “Efficiency Audit” – Explain. 20 OR Could the following persons be appointed as Cost Auditor of a company ? Briefly explain with your conclusion. a) A Cost Accountant in practice, holding part time employment in that company. b) A Firm of Cost Accountants, who are presently acting as internal auditors of that company. c) A Firm of Cost Accountants, who were retained in the previous year as consultants to install a costing system in that company. d) A firm of Cost Accountants, one of whose partner is a director of that company. 20 2. Write short notes (Any four) : a) Social Audit b ) Performance Audit c) Advantages of Cost Audit d) Liabilities of Cost Auditor e) Appointment of Cost Auditor. 20 P.T.O.3970 – 25 -2-  3. What is Management Audit ? Explain it’s features and advantages. 20 OR Distinguish management audit with cost audit and Financial Audit. 20 4. Write short notes (any four) : a) Management Audit process b) Evaluation of MIS and control system. c) Advantages of Management Audit. d) Corporate service audit. e) Audit of special responsibilities of management. 20 5. From the following information prepare the statement of Reconciliation of financial profit with that of costing profit. Costing Information Direct materials Rs. 2,24,00,000 F.Y.O.H. Recovered 20% on Prime Cost Admn. O.H. Recovered Rs. 24 per unit of production Selling O.H. Rs. 32 per unit sold. Financial Information (Rs. in lakhs) D. Materials 200 Bad Debts 16 D. Labour 80 Preliminary Expns. 8 O.H. – Factory 64 Legal charges 4 Admin. 200 Dividend Received 40 Selling 384 Interest received 8 Sales (12 lakh units) 560 Closing stock (4 lakh units) 96 W.I.P. 64 20 OR -3- 3970 – 25 5. From the following data calculate : a) Profit before interest and taxation b) Working capital c) Capital Employed and d) Net worth. A Rs. 1) Establishment Expenses 95,00,000 2) Excise Duty 81,00,000 3) Provision for Investment Reserve 50,000 4) Profit before Appropriation 37,35,000 5) Other Incomes 4,00,000 6) Provision for Development Reserve 15,000 7) Interest paid 30,00,000 8) Provision for Taxation 10,00,000 9) Cost of goods sold 5,40,00,000 10) Sales 9,75,00,000 B Rs. Net Fixed Assets 80,75,000 (Includes WIP 75,000) Investments Trade 25,000 Others 5,000 Current Assets 3,79,25,000 4,60,30,0003970 – 25 -4-  Current Liabilities 75,00,000 Un-Secured Loans Public Deposits 40,00,000 Interest accrued 2,00,000 Secured Loans Cash credits 1,40,00,000 Term Loans 5,00,000 Share capital 97,00,000 Receipts of unpaid calls 5,000 General reserve 50,60,000 Development Reserve 15,000 Investment Reserve 25,50,000 Capital Reserve 25,00,000 4,60,30,000 –––––––––––––––––– B/I/11/810 3970 – 15 M.Com. (Part – I) Examination, 2011 Group G : ADVANCED BANKING AND FINANCE (Optional Paper) Law and Practice of Banking (2002 Pattern) (Old) Time : 3 Hours Max. Marks : 100 Instructions : 1) All questions are compulsory. 2) All questions carry equal marks. 1. Explain the provisions of the Banking Regulation Act, 1949 regarding : a) Powers of the Reserve Bank of India b) Restrictions on the business of banks. OR Explain the functions of the Reserve Bank of India as per Section 17 of the Reserve Bank of India Act, 1934. 2. Explain the provisions of the Banking Regulation Act, 1949 as applicable to co-operative banks. OR Explain the provisions of the Foreign Exchange Management Act, 1999 regarding : a) Authorised person b) Export of goods and services. 3. Who is a customer of a bank ? Explain the reasons of termination of banker customer relationship. OR Explain the following concepts : a) Garnishee order b) Banker’s duty of secrecy of a customer’s account. P.T.O.3970 – 15 -2-  4. Explain various risks faced by a banker while managing his assets and liabilities. OR What is meant by a collecting banker ? Explain his rights and duties. 5. Write notes on any two : a) Capital adequacy b) Management of non-performing assets c) Instruments of liquidity management d) Payment in due course.                          "              "  % &'  ()+ ,-, & . '   / / . ,   ()+    0    1 23,  ()+ ,-  4 "  5        +     &,6   "   7 - / 8    .    "  % &' & .9 : ' /  & 3 ,/ -  -3- 3970 – 15 0 ,- ;+ +3=, ,3  & 3 ,- ;+   . ?" , - 3, "    6  "  % &' A   -  B &,C ' ;+  D   ?E,-, ,-,     & F & 3 ,3 -, / 8   ,, = &,6  / /. =,  "   /  - &8  D -, +G & 3  , "  H  + I,3D + ' % &' J/- ?,3 ' K"; F,-, / 8 '  / 8 - . , J' 8 /. 2  ––––––––––––––––– B/I/11/540 3970 – 163 M.C.A. (Commerce Faculty) (Semester – I) Examination, 2011 103 : PROGRAMMING FUNDAMENTALS (‘C’ Programming) Time : 3 Hours Max. Marks : 80 Instructions : 1) All questions are compulsory. 2) All questions carry equal marks. 3) Assume suitable data, if necessary. 1. Attempt any four : (4×4=16) a) Explain any four types of variables with example. b) Describe structure of C program. c) Explain any two types of operators in details. d) What is header file ? Explain any two header files with example. e) What is switch ( ) statement ? Explain use of it. 2. Attempt any four : (4×4=16) a) Write a C program to accept a four digit number from user and count zero, odd and even digits from the entered number. x∗ y b) Write a C program to calculate without using ‘∗ ’ operator. c) Write a C program to accept character and display its ASCII value and its next and previous character. d) Write a C program to check whether a given number is palindrome or not. e) Write a C program to display all perfect number between 1 to 100 by using function. 3. Attempt any four : (4×4=16) a) Which are the different parameter passing techniques in C ? b) What is array ? Explain different types of arrays. c) Explain indirection and address of operator in detail. d) Explain any four string functions with syntax. e) What is structure and what is use of structure in C ? P.T.O.3970 – 163 -2-  4. Trace the output (any four) : (4×4=16) a) Void main( ) int i ; for (i = 0 ; i = 5 ; i + +) ; print f (“%d”, i) ; getch ( ) ; b) extern int a ; void main ( ) int a = 5 ; int a = 10 ; print f (“%d”, a++) ; print f (“%d”, a) ; getch ( ) ; c) include stdio.h int main ( ) int i = 1 ; switch (i) print f (“hello in”) ; case 1 : print f (“Hi in”) ; break ; case 2 : print f (“In Bye In”) ; break ; return 0;  -3- 3970 – 163 d) include stdio.h int main ( ) int i = 1 ; i = 2 + 2 i + + ; print f (“%d”, i) ; return 0 ; e) include stdio.h int main ( ) int a = 0, b = 10 ; if (a = = 0) print f (“true”) ; else print f (“false”) ; return 0 ; 3970 – 163 -4-  5. Attempt any four : (4×4=16) a) Write a ‘C’ program to create student structure having field roll-no, stud-name, class. Pass this entire structure to function and display the structure elements. b) Write a ‘C’ program to accept two strings as command line arguments and display union of both the strings. c) Write a ‘C’ program to accept 10 numbers from user, store these numbers in an array and find the smallest number from an array using pointer. d) Write a ‘C’ program to calculate sum of the elements of lower triangle of a m × n matrix by using dynamic memory allocation. e) Write a program to encrypt the contents of one file into another file. ––––––––––––––––– B/I/11/320 -3- 3970 – 202 3.    .   "(case study)%&'( )) ). 4. "+ ), "+ ),-".,/.  ) 0 ),12+"3.  4) "+")56 . 789, (  ): 5. ) ";" 4) )3   ) =),  8) +4 ) "+)? ) 4 ,"+)?". ———————— B/I/11/15,0853970 – 202 -2-  5. Write short notes on (any 4) : a) Bibliography b) Types of Classification c) Advantages of Questionnaire d) Research Paper e) Research Topic f) Research problems in man-power planning.    i)       . ii)    . iii)   . 1. %)""+ %)""+ .  ) )?  )? 3A))3  ?  4) "+ B"3 ;. 789, (  ): 2. ) +C? 4) 84"  ) "+   8)  "+ B ) D%)" 3 ) %)""+";;. 3970 – 202 M.Com. (Semester – II) Examination, 2011 RESEARCH METHODOLOGY FOR BUSINESS (2008 Pattern) (New) Time : 3 Hours Max. Marks : 100 N.B.:i) All questions are compulsory. ii) All questions carry equal marks. 1. What is Business Research ? Explain the types of Business Research. OR a) What is Tax Information ? What are the different sources of collecting tax information ? b) Explain the role of computer in research process. 2. Write short notes (any 4) : a) Dictionaries b) Types of data base c) Research plan d) Process of action research e) Sources of international business information f) Role of reference librarian in business research. 3. What is sampling technique ? Explain its advantages and limitations. OR Define case study and discuss the types of cases. 4. What is Research Report ? Explain the steps in organisation of a research report. OR a) State the purpose of project report. b) Explain the survey method of research. P.T.O. 3970 – 203 M.Com. (Semester – II) Examination, 2011 ADVANCED ACCOUNTING AND TAXATION Special Paper – III Specialised Areas in Accounting (New) (Group A) (2008 Pattern) Time : 3 Hours Max. Marks : 100 Instructions : 1) All questions are compulsory. 2) Figures to the right indicate full marks. 3) Use of non-programmable calculator is allowed. 4) Give working notes wherever necessary. st 1. Following are the Balance-Sheets of X Ltd. and Y Ltd. as on 31 March, 2010. Liabilities X Ltd. Y Ltd. Assets X Ltd. Y Ltd. Share Capital Fixed Assets : Equity shares Machinery 5,00,000 2,50,000 of Rs. 100 each Motor car 80,000 20,000 fully paid 10,00,000 5,00,000 Furniture 20,000 5,000 Reserve and surplus 3,00,000 1,50,000 Investments : Current liabilities : Shares in Y Ltd. 1,25,000 – Sundry creditors 2,00,000 3,50,000 Shares in X Ltd. – 60,000 Current Assets : Stock 3,75,000 2,25,000 Debtors 3,00,000 3,40,000 Cash at Bank 1,00,000 1,00,000 15,00,000 10,00,000 15,00,000 10,00,000 P.T.O.3970 – 203 -2-  X Ltd. holds 1000 shares in Y Ltd. and Y Ltd. holds 500 shares in X Ltd. The two companies agreed to amalgamate on the basis of intrinsic value of shares on the following conditions : 1) A new company is to be formed called XY Ltd. 2) The Goodwill is valued for X Ltd. Rs. 2,50,000 and Y Ltd. Rs. 1,25,000. 3) The shares of new company will be of 14-10 each. You are required to prepare a statement showing intrinsic value of shares of X Ltd. and Y Ltd. and show the Balance-Sheet of XY Ltd. 20 OR st 1. AB Ltd. had decided to reorganise its finances on 31 March, 2009. A final trial balance extracted from the books of the company showed the following position Particulars Debit Credit Rs. Rs. Share Capital : 1500, 6% pref. shares of Rs. 100 each 1,50,000 2000 equity shares of Rs. 100 each 2,00,000 Capital reserve 36,000 Profit and Loss Account 1,10,375 Preliminary expenses 7,250 Goodwill at cost 50,000 Trade Creditors 42,500 Sundry Debtors 30,200 -3- 3970 – 203 Bank overdraft 51,000 Leasehold property at cost 80,000 Provision for depreciation for leasehold property 30,000 Plant and Machinery at cost 2,10,000 Provision for depreciation for plant and machinery 57,500 Stock-in-trade 79,175 5,67,000 5,67,000 The approval of the court was obtained for the following scheme of reduction of capital 1) The preference shares to be reduced to Rs. 75 per share 2) The equity shares to be reduced to Rs. 12.50 per share 3) Once Rs. 12.50 equity share to be issued for each Rs. 100 of Gross Preference dividend arrears, the preference dividend had not been paid for three years. (preference shares are cumulative). 4) The balance in capital reserve account to be utilised 5) Plant and machinery to be written down to Rs. 75,000/- 6) The profit and loss account balance and all intangible assets to be written off. 7) Company issued 5000 equity shares at par of Rs. 12.50 each which are fully subscribed and fully paid. You are required to show the journal entries to record the above reconstruction, transactions and show the Balance-Sheet after reconstruction. 203970 – 203 -4-  2. The following information relates to a building contract for Rs. 10,00,000. Particulars 2008 2009 Rs. Rs. Material issued 3,00,000 84,000 Direct wages 2,30,000 1,05,000 Direct expenses 22,000 10,000 Indirect expenses 6,000 1,400 Work certified 7,50,000 10,00,000 Work uncertified 8,000 – Material at site 5,000 7,000 Plant issued 14,000 2,000 Cash received from contractors 6,00,000 10,00,000 The value of plant at end of 2008 and 2009 was Rs. 7,000 and Rs. 5,000 respectively. Prepare : 1) Contract account 2) Contractee’s account for two years taking into consideration such profit for transfer to profit and loss account as you think proper. 20 3. A) From the following particular pertaining to four rooms in a hotel, draw up suitable columnur ledger. 1) Room rent for each room Rs. 500 +15% tax 2) Room No. 1 – breakfast Rs. 45, laundry Rs. 50, Local phone calls Rs. 15 -5- 3970 – 203 3) Room No. 2 – lunch Rs. 85, STD calls Rs. 125, wine Rs. 60, previous day’s outstanding amount Rs. 1,250. 4) Room No. 3 : Private taxi hired from hotel Rs. 400, STD calls Rs. 350, Dinner Rs. 125, Whisky Rs. 100. Deposited Rs. 3,500 with the hotel. 5) Room No. 4 : Opening due from the guest Rs. 575, Laundry Rs. 30, Lunch Rs. 120. 6) The guest in Room 3 is a regular visitor and is entitled to a discount of 20% on room rent. All the above transactions pertain to a single day. 12 3. B) A five star hotel in Pune has 350 rooms out of which 250 rooms are single- bed rooms and rest of the rooms are double-bed rooms. st On 1 March, 2010, 180 single-bed rooms and 60 double-bed rooms are occupied by the guests. Calculate the bed occupancy rate for the day. 8 4. The following is the Income and Expenditure Account of the Royal College for st the year ended 31 March 2010. Expenditure Rs. Income Rs. To Salaries 24,000 By Tuition fees 72,000 To Rent 10,800 By Entrance fees 8,000 To Rates and Taxes 600 By surplus on To Postage and Telephone 720 publication of To Affiliation fees college magazine 4,500 paid to university 1,200 By profit on sale To Sports material 15,750 of old sports assets 1,2003970 – 203 -6-  To Electricity bill 1,200 By Interest on To Repairs and 5% investments 600 maintenance of By Miscellaneous Income 225 college furniture 9,600 To Depreciation on assets 4,800 To Surplus 17,855 86,525 86,525 The following information is made available. Particulars As on 31-3-2009 As on 31-3-2010 Rs. Rs. I) Sundry Assets 44,000 ? Bank balance 4,800 ? Fees in arrears 4,750 3,500 Fees in advance 1,400 2,600 5% Investments 12,000 12,000 II) Expenditure outstanding : Salaries 600 1,200 Rent 900 1,800 Rates and Taxes Nil 600 Tennis court maintenance 780 320 III) Outstanding for purchase of sports materials 1,400 2,950 IV) Prize fund 4,600 3,250 V) During the year prize fund credited Rs. 2,800.

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