Ignou student zone_ISZ

    IMPORTANT QUESTIONS MCO 5 1. What are the financial statements? How far they are useful for decision making purpose? Discuss the limitations of financials statements. 2. a) What is meant by zero based budgeting ? How is it different from traditional budgeting? b) Discuss the essentials of establishing a budgeting system. c) Explain the steps involved in making a sound budgeting system. 3. a) Explain the managerial uses of marginal costing. b) Discuss the essential conditions for the success of responsibility accounting. 4 What is meant by transfer pricing. Discuss various transfer pricing methods. 5. What are the limitations of conventional financial accounting. 6. What is meant by reporting to management. What are the objectives of reporting ? Discuss various types of reports. 7. "Management accounting is nothing more than the use of financial information for management purposes". Explain this statement and clearly distinguish between financial accounting and management ...

IMPORTANT QUESTIONS MCO5 1.a) What are the financial statements? How far they are useful for decision making purposes? Discuss the limitations of financial statements. b) Write short notes on: Interim Dividend Deferred revenue Expenditure Appropriation of profit Accounting a source of financial information 2. a) "Fixed costs are also variable. The more you produce, the less they become fixed". Comment on the statement with suitable examples. b) Distinguish between: Product cost and Period cost Controllable cost and Uncontrollable cost Fixed budget and flexible budget 3. a) What is meant by zero based budgeting? How is it different from traditional budgeting? b) Discuss the essentials of establishing a budgeting system. c)Explain the steps involved in making a sound budgeting system. 4. a) What is cash flow statement? How does cash flow analysis help the management in decision making? b)What are the limitations ...