S/No. Background of Respondents No.

of Respondents Percentage-%
I DEPARTMENTAL/MNG LEVEL
Top Management 3 17%
Finance 8 44%
Production and Technic 2 11%
Purchasing and Property Admin 3 17%
Marketing and Sales 2 11%
Total 18 100%
II GENDER
Male 9 50%
Female 9 50%

III AGE
Below 25 0 0%
26-30 3 17%
31-40 9 50%
41-50 3 17%
Above 50 3 17%

IV EDUCATIONAL LEVEL
Certificate 1 6%
Diploma 4 22%
Degree 11 61%
Master’s Degree 2 11%

V WORK EXPIRIENCE
1--5 2 11%
6--10 4 22%
11--15 6 33%
16--20 0 0%
>20 6 33%
3 3
8 3
1 1
1 1
1 0.777778 1
 Finance Top
Types Respondents
Department Managemnt
Qty 8 2

Forwarded No of
S/No Description of Questionaries
Response Response
1 Does your organization maintain formal accounting syste YES 7
2
If your company implemented Computerized A- Peachtree
3 10
accounting system" describes the name of the system? & C- Excel

What is the reason to maintain computerized

4 E-ALL 7
accounting?
B. Accrual
5 Which bases of accounting have been practiced? base
10

Which standards have been implemented in your

6 A. GAAP 10
organization? (International accounting standards)
7 What is the basic motive to use the above standard? E ALL 7
8 What are the major purposes of accounting systems? D&E 8
9 Is Double entry followed in recoding transaction? A YES 10
Is the theoretical accounting processes are practiced
10 A YES 10
thoroughly?
11 Which forms of “Chart of Accounts” are in use? C) Both 10
Does the company have a structured Financial
12 A)Yes 7
accounting Policy Manual?
 Total

10

Percentage-%

70%

100%

70%

100%

100%

70%
80%
100%

100%

100%

70%
 Types Respondents

Qty

S/No Description of Questionaries

1 Which of Accounting of records your company's business transactions use?

Please list out the types Finance Department's Own records and Source
2
Document. And other department’s documents.

And other department’s documents.

3 What are the most common and significant forms of business transactions?
 Which types of depreciation calculation method is implemented in your
4
company?
 Finance Top
Total
Department Managemnt

8 1 9

Forwarded No of
Percentage-%
Response Response
F) ALL 9 100%

* Cash receipt Vouchers

*Bank payment Vouchers
* Cheque payment Vouchers
* Petty Cash Payment Vouchers
*General Journal Vouchers
*Cash sales invoices
*Credit sales invoices
*Debit and credit notes
*Bank Credit & Debit advice

9 100%

 Goods receiving Vouchers

 Goods Issue Vouchers
 Goods Return Vouchers
 Goods Disposal Vouchers
 Finished Product receiving Voucher
 Finished Product Issue Voucher
 Finished Product Transfer Voucher
 Finished Product Transfer in Voucher
 Finished Product Return

two major class

 Cash Transaction and Credit Transaction
 Internal Transaction and External Transaction

AMA’s business transactions include the following:

Purchasing Inventory(raw materials, spare parts and other
goods) from a vendor
Selling Finished Goods and By Products to a customer for cash
Selling Finished Goods and By Products to a customer on credit
Paying wages to employees
Paying rent and other utilities
Borrowing money from a bank
Buying insurance from an insurer
9 100%
A) Straight-line &
pooling method 6 67%

7 70%
#Q4 Please list out the types Finance Department's Own records and Source Document. And other No of
department’s documents Response

Finance Department's Source Doc.

*Purchase Receipt Invoices, *Payment Voucher (PV) *Travel Advance Requisition
*Cash Receipt Voucher(CRV) *Check Voucher (CV), and Approval Form
*Cash sales invoices, *Journal Voucher (JV), *Advance Clearing Form
*Cash Sales Voucher *Petty Cash Payment Voucher *Receipts for withholding tax
*Credit sales invoices, *Bank Credit & Debit advice on payments 8
* Credit Sales Voucher , *Pay Roll

Purchasing & Property Admin Production and Technic Marketing and Sales No of
Response
*Goods Receiving Voucher(GRV) *Material Requestion (MR) * Finished Product Loading
*Store Requestion (SR) *Finished Product Transfer Order
*Purchase Requestion (PR) Voucher(FRT)
*Goods Issue Vouchers (SIV) *Daily Production Report
*FG Receiving Voucher(FRV) Human Resource
*Goods Return Vouchers Department
* Approved Contract Agreements * Attendance Summary
Sheets 7
*Hiring, promotion,
Demotion. Termination
Letters
Percentage-%

100%

Percentage-%

100%
#Q1- What are the most common and significant forms of business transactions?

Ω Internal Transaction and External Transaction

*Purchasing of Inventories from local and foriegn vendors

*Purchasing of Servicies
*Conversion of RM to FG
* Selling of Finished Goods to a customer for cash & on credit
*Paying wages to employees
*Paying rent and other utilities
* Borrowing money from a bank and paying back liabilities
*Buying insurance from an insurer
#Q2-Which of Accounting of records your company's business transactions use?
Source documents :Chart of accounts :Journals :Ledger :Trial balance
#Q3-Which types of
A)depreciation
Straight-line calculation
& method is implemented in your company?
pooling method

Which accounting do you practice in the business?

E-ALL
Is the theoretical accounting processes are practiced thoroughly?
A YES
Which forms of “Chart of Accounts” are in use?
C) Both
 No of
Percentage-%
Response

8 100%

8 100%

8 100%

8 100%

8 100%

8 100%
 Forwarded
S/No Description of Questionaries
Response
1 What kind of financial information is prepared? E) ALL
A)Full time
2 Who Preparers the accounts and financial statements? accounting
officer
3 Who are the users of the reports? Put them in their priority? E ALL
Which of the following financial management have been
4 A. Ratio analysis
practiced?
5 What is the Purposes of preparing financial statements? E) ALL
6 Is there on time report preparation practices? B. NO
7 How do you prepare your financial accounting reports? F) ALL
8 Is the cash book is regularly reconciled with bank statements? A YES
 No of
Percentage-%
Response
8 100%

8 100%

8 100%

3 38%

8 100%
3 38%
8 100%
8 100%
 Forwarded No of Percentage-
S/No Description of Questionaries
Response Response %
Is there well developed Written Procedure in the form of procedure
1 manuals, instructions, and directives which is used by all staffs of the A.YES 6 67%
company ?
Does your entity maintains policies and procedures to facilitate the
2 recording and accounting of transactions in compliance with law and A.YES 6 67%
regulations ?

3 Has your company an internal auditor practice in the organization? A.YES 7 78%

4 Are audit reports sent to management for appropriate decisions? A.YES 6 67%

5 What are the key Controlling Areas of Internal Audit?

All Employee related Payments

Organization rules and procedures
Compliance with Governmental rules,
2 22%
regulations and laws
Financial records
Measuring of performance
 Forwarded No of
S/No Description of Questionaries Response Percentage-%
Response
1 Does your company produces multiple products ? A)Yes 5 100%
Does the company have adequate, efficient and qualified in cost
2 B)No 5 100%
accounting staff?
3 Do you have separate cost accounting department (section)? A)Yes 5 100%
4 Does the company have a structured cost accounting policy / manual? B)No 3 60%
5 What is the company Inventory Record Keeping? C) Both 4 80%
Does the costing department record the inventory movement transaction
6 (incoming and issuing of raw material) immediately when it gets the B)No 3 60%
proper source documents?
Does the company make inventory counting? If yes, Specific the time
7 B) Yearly 4 80%
interval

What are the costs or charges which will included as cost of purchased
raw material?
 FOB price  Bank charges
 Marin or air cargo insurance charge  Air/ sea /ocean freight charge
8 3 60%
 Transit service charge  Custom duties (import tax, sur tax, and the
like)
 Inland transport charge  Other charges like interest and others.

B)Weighted
9 What is the company inventory cost flow assumption? average 4 80%
C)Hybrid
10 Which costing method do you adapted? Costing 4 80%
Do you think the firm use proper predetermine rate for allocating
11 B) No 3 60%
manufacturing overhead costs?
C) Activity
Which of the following costing systems the company used to allocate Based
12 Costing 4 80%
overhead costs
(ABC)

Does the cost allocating department use more than one pool for
13 A) yes 4 80%
accumulating indirect or overhead costs?
Which base or basis do you use for the allocation of manufacturing
14 E)Production 4 80%
overhead costs?
Which methods of costing that in used to calculate the cost of your A) Normal-
15 Absorption 4 80%
products ? Costing
Is the current costing system convenient for cost effective production cost
16 B) No 3 60%
assignment?
Do you think the company current machinery working time follow up
17 sheet system or technique affect the cost of produced finished goods A)Yes 5 100%
inventory?
18 What costs includes the cost structure of your Organization? F)ALL 4 80%
To what Extent the cost accounting system provides information on a E)Up on
19 request 3 60%
systematic regular base?
 How cost accounting system provides data to allow you to analyze costs A)Product &
20 B)Cost Center 4 80%
by?
 Forwarded No of
S/No Description of Questionaries Response Percentage-%
Response
Does Separation make between variable and fixed costs while B)No 7 100%
1
preparing internal reports?
Does the company have a system of standard costing & variance B)No 7 100%
2
analysis on periodical basis?
Is the cost/profitability of finished goods products/activities
3 regularly measured and also form part of regular report to the B) No 7 100%
management of the company?
What forms of cost management accounting functions are B)Standard
7 100%
4 Costing
practices in the Company?
Does the cost accounting department prepare interim production A) yes 7 100%
5
reports to management?
B) Standard
6 Which control methods do you use for cost control? costing 7 100%

Is the accounting system helpful to regularly report variances of

7 budget & actual cost to measure management performance as a B)No 7 100%
control device?
Is the accounting system is used as a control device and fixing A) yes 7 100%
8
price of product?
 Forwarded No of Percentage
S/No Description of Questionaries
Response Response -%
1 Does the company have a structured Budget Policy / Manual? B)No 7 100%

A) Master
What forms of budgeting system management accounting
2 Budget 7 100%
practice (Budgeting Process and Control): in the Company? Preparation

3 Does the company grant strong effort to follow the budget? C. modest effort 7 100%

Do you have Budget Variance Analysis Practices-For Budgetary

4 B)No 7 100%
Control? ?