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AFM Important Questions

This document outlines important questions for the Accounting for Management course across 5 units. Unit I covers basic accounting concepts like the accounting cycle and financial statement analysis. Unit II focuses on funds flow and cash flow statements. Unit III distinguishes between cost and financial accounting. Unit IV examines cost-volume-profit analysis and break-even points. Unit V deals with budgeting, budgetary control, and standard costing systems. The questions provide an overview of key topics in managerial accounting.

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1K views

AFM Important Questions

This document outlines important questions for the Accounting for Management course across 5 units. Unit I covers basic accounting concepts like the accounting cycle and financial statement analysis. Unit II focuses on funds flow and cash flow statements. Unit III distinguishes between cost and financial accounting. Unit IV examines cost-volume-profit analysis and break-even points. Unit V deals with budgeting, budgetary control, and standard costing systems. The questions provide an overview of key topics in managerial accounting.

Uploaded by

uma selvaraj
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 Management (P20MST102)

Important Questions
Unit I
1. What is accounting? Explain its nature and scope.
2. Explain the significance of financial accounting
3. Explain the accounting principles briefly.
4. Explain the concepts and conventions with suitable examples.
5. Describe the accounting cycle.
6. Discuss the role of an accountant in a business organization.
7. What is balance sheet? Why is it prepared? Explain its significance
8. What is meant by ratio analysis? Discuss its objectives and limitations.
9. How do you classify ratios? Explain the profitability ratios.
10.What are the liquidity ratios? Explain them briefly.
11.Discuss the significance of ratio analysis in decision making process.
12.What is meant by Du pont chart? Explain its role in financial analysis?
Unit II
1. What is a funds flow statement? Explain its importance as a tool of financial
analysis.
2. What is a funds flow statement? Explain its use and significance to the
management.
3. Explain different sources and uses of funds.
4. Explain the procedure to prepare funds from operations.
5. What is meant by cash flow statement? What are its advantages?
6. Distinguish between funds flow statement and cash flow statement.
7. Briefly explain the method of ascertaining cash from operations.
8. Define cash flow statement. What are its limitations?
9. What is meant by financial statement analysis? What are the different
techniques of financial statement analysis? Explain.
10.What are the methods of financial statement analysis? Explain
Unit III
1. Explain the distinction between cost accounting and financial accounting.
2. Discuss the limitations of financial accounting and importance of cost
accounting.
3. What are the essential principles of a good costing system? What are the
objections to the introduction of a costing system?
4. Define cost accounting and explain its objectives.
5. What are the functions of a cost accountant in an industrial organisation?
6. State the steps involved in the installation of a costing system in a large
manufacturing company.
7. Enumerate the characteristics of fixed and variable costs.
8. State the important ways of classification of cost and discuss each of them in
detail.
9. Distinguish between: (a) Direct and indirect costs, (b) Controllable and
uncontrollable costs.
10.What are the elements of cost? Explain the terms with appropriate examples.
Unit IV
1. What are the salient features of marginal costing?
2. Distinguish between absorption costing and marginal costing by showing
3. their major points of difference.
4. What do you understand by ‘Cost volume profit’ Analysis? What is its
5. significance?
6. What is break-even point? How do you calculate it?
7. Explain the meaning and significance of ‘Margin of Safety’.
8. What are the limitations of break-even chart? Mention the assumptions
underlying a break-even chart.
Unit V
1. Define ‘Budget’, ‘Budgeting’ and ‘Budgetary control’.
2. Describe the objectives of budgetary control.
3. Distinguish between forecasts and budgets.
4. What are the essential requisites for successful implementation of a budgetary
control system?
5. Briefly explain the different classifications of budgets.
6.Elaborate the practical application of Marginal Costing.
7. What is Z.B.B? Describe the process of preparing Z.B.B.
8.Describe the various steps involved in adopting standard costing system in an
organization.

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