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Accounting For Managers - Question Bank

This document outlines the modules and questions covered in an accounting question bank. It covers the following topics: introduction to accounting concepts like the accounting equation and double-entry system; financial statements including the balance sheet, income statement, and cash flow statement; financial statement analysis using ratios; cost-volume-profit analysis and budgeting; and emerging issues in accounting like forensic accounting, human resource accounting, and international financial reporting standards. The question bank contains multiple choice and problem-solving questions to assess understanding of accounting principles and financial reporting.

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Abhishek Raj
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470 views3 pages

Accounting For Managers - Question Bank

This document outlines the modules and questions covered in an accounting question bank. It covers the following topics: introduction to accounting concepts like the accounting equation and double-entry system; financial statements including the balance sheet, income statement, and cash flow statement; financial statement analysis using ratios; cost-volume-profit analysis and budgeting; and emerging issues in accounting like forensic accounting, human resource accounting, and international financial reporting standards. The question bank contains multiple choice and problem-solving questions to assess understanding of accounting principles and financial reporting.

Uploaded by

Abhishek Raj
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Accounting For Managers

Question Bank
Module : 1 Introduction to Accounting
3 marks
1. What is convention of conservatism?
2. Define Accounting?
3. What is separate entity concept?
4. Define GAAP?
5. State the different types of accounting?
6. What is double entry system of bookkeeping?
7. Name the accounts with rule of debit and credit.
8. What is a personal account? What are the types of personal accounts?
9. What are the branches of accounting?
10. “Owner’s capital is recorded as liability”. Do you agree? Why?
11. Distinguish between cash system and accrual system of accounting?
12. State the matters of which a company has to maintain books of accounts.
13. Distinguish between cash discount and trade discount.
14. What is a contra entry? Give example.
15. What is Journalising?
16. What is Journal? How it is different from Ledger?
17. What are the errors of Trial Balance?

7 or 10 Marks
1. Explain briefly accounting concepts.
2. Explain different accounting conventions.
3. Discuss the users of accounting information.
4. Explain the objectives of accounting.
Problems
1. Passing Journal Entries
2. Preparation of Ledger Accounts ( Three Column Cash Book)
3. Preparation of Trial Balance

Module: 2 Financial Statements


3 Marks
1. What is Balance Sheet?
2. What is Grouping and Marshalling of Balance sheet?
3. Differentiate Trial Balance and Balance sheet.
4. Differentiate between outstanding and prepaid expenses.
5. What is adjustment entry?
6. When do you prepare Appropriation account?
7 or 10 Marks
1. What is Balance Sheet? What are its limitations?
2. What is a window dressing? Why is it used?
3. What are the different ways in which a statement can be window dressed?
Problems
1. Preparation of Final Accounts of Companies.

Module: 3 Analysis of Financial Statements


3 Marks
1. What is a common size statement?
2. What is absolute liquid ratio?
3. What do you mean by Cash Flow Statement?
4. What is operating ratio?
5. What is DPS and Pay-out ratio?
6. What is EPS? How do you calculate EPS?
7. What is activity ratio? Indicate any two.
8. What is ROCE?
9. What is P/E ratio?
10. What is proprietary ratio?
7 or 10 Marks
1. What are the uses and limitations of ratio analysis.
2. What is Cash flow statement and how it is prepared?
3. What are financial statements? Explain the tools for evaluating financial performance
of a company.
4. Explain the cash inflows and outflows on various activities.
5. Explain the importance of cash flow statement.
Problems
1. Calculation of Trend ratios
2. Preparation of Comparative Statements
3. Preparation of Common size statements
4. Calculation of Ratios
5. Preparation of Balance Sheet with the help of ratios.
Module: 4 Management Accounting
3 Marks
1. Define Management Accounting.
2. Differentiate Management accounting and Financial Accounting.
3. Define CVP analysis.
4. State the purpose of CVP analysis.
7 or 10 Marks
1. Explain the purpose of Management Accounting.
2. Explain the scope and advantages of management accounting?
3. Discuss the applications of Management Accounting.
Problems
1. Problems on CVP analysis
2. Application of Managerial Accounting

Module 5: Functional and Flexible Budget


3 Marks
1. What is functional budget?
2. Define Flexible budget.
3. What is disposition of variances?
4. What is meant by variance analysis?

7 or 10 Marks
1. Briefly explain the managerial uses of variance.
2. Explain the importance of variance.
Problems
1. Preparation of Flexible Budget
2. Preparation of Functional Budget.
Module: 6 Emerging Issues in Accounting ( Theory)
3 Marks
1. What is forensic accounting?
2. What is Human Resource Accounting?
3. Define sustainability report?
4. What is Computerised accounting?
5. Define IFRS.
7 or 10 Marks
1. Write a note on Indian Accounting Standards.
2. Discuss the areas covered under forensic accounting.
3. Explain the methods of HRA.
4. Discuss computerised accounting system and its relevance.
5. Explain any five accounting standards.

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