NMIMS – Financial Accounting
Q1. Given the following information of ABC Ltd. as of March 31st, compare and contrast the role of various financial metrics in assessing the company’s performance.
- Revenue Rs. 5,00,000
- Cost of Goods Sold Rs. 3,00,000
- Operating Expense Rs. 80,000
- Depreciation Rs. 30,000
- Tax Rate 30%
Prepare the Income Statement and calculate the Net Profit after Tax. Additionally, evaluate how the inclusion of non-cash items like depreciation affects the financial position of the company, and discuss its significance in decision-making for stakeholders. Compare and contrast the role of cash and non-cash items in financial statements. (10 Marks)
Q2 (A) Compare and contrast the role of journal entries and ledger accounts in the accounting process. How does the relationship between these two elements ensure accurate financial reporting? Support your answer with examples. (5 Marks)
Q2 (B) Analyze how changes in accounting policies, such as revenue recognition, can alter the interpretation of a corporation’s financial performance and position. Discuss the potential implications and investors and creditors using real-life corporate examples. (5 Marks)
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Important Notice for NMIMS Assignments:
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