Various contents of an Annual Report

                                                                                                                                          

MBA

Accounting for Managers

ASSIGNMENT

 

Course Code: MMPC-004

Assignment Code: MMPC-004/TMA/JULY/2022 

Coverage : All Blocks

4. Explain in detail the various contents of an Annual Report.

An annual report is a comprehensive document that companies produce once a year to provide shareholders, investors, and other stakeholders with a detailed overview of the company's financial and operational performance. 

The annual report typically contains the following sections: Introduction: This section usually contains a letter from the company's CEO or chairman, in which they discuss the company's achievements over the past year, outline its goals for the future, and thank stakeholders for their support.

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What is CVP analysis? Does it differ from break even analysis? How is break-even point calculated?

                                                                                                                                         

MBA

Accounting for Managers

ASSIGNMENT

 

Course Code: MMPC-004

Assignment Code: MMPC-004/TMA/JULY/2022 

Coverage : All Blocks

3. What is CVP analysis? Does it differ from break even analysis? How is break-even point calculated?

CVP analysis is a powerful financial modelling technique that enables managers to understand how changes in sales volume, costs, and selling price impact a company's profitability. The primary focus of CVP analysis is to understand the relationship between sales volume, costs, and profit. By understanding this relationship, managers can make more informed decisions regarding pricing, product mix, and resource allocation. The basic components of CVP analysis are fixed costs, variable costs, selling price, and volume of sales. 

Fixed costs are costs that do not change with changes in sales volume, such as rent, salaries, and insurance. Variable costs, on the other hand, are costs that vary with changes in sales volume, such as raw materials, direct labor, and sales commissions. Selling price is the price at which the product or service is sold, and volume of sales is the number of units sold.

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Activity Based Costing

                                                                                                                                        

MBA

Accounting for Managers

ASSIGNMENT

 

Course Code: MMPC-004

Assignment Code: MMPC-004/TMA/JULY/2022 

Coverage : All Blocks

(b) Activity Based Costing

Activity-based costing (ABC) is a cost accounting method that assigns indirect costs to products or services based on the activities required to produce them. This approach recognizes that not all costs are directly related to the volume of output or production, and therefore, a more precise allocation of overhead costs is needed to determine the true cost of a product or service. 

ABC involves identifying the activities that are required to produce a product or service and assigning costs to those activities. The cost of each activity is then allocated to the products or services that consume the activity in proportion to the amount of activity consumed.

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Marginal Costing

                                                                                                                                       

MBA

Accounting for Managers

ASSIGNMENT

 

Course Code: MMPC-004

Assignment Code: MMPC-004/TMA/JULY/2022 

Coverage : All Blocks

2. Explain the following

(a) Marginal Costing

Marginal costing is a cost accounting technique that determines the cost of producing a unit of a product by considering only the variable costs incurred in its production. In marginal costing, fixed costs are treated as period costs and are not allocated to products. Thus, only the direct costs of materials, labor, and variable overheads are considered while determining the cost of a product. 

The term "marginal" refers to the extra or incremental cost of producing one more unit of a product. It is the change in total costs that results from producing one additional unit. The marginal cost includes only the variable costs that change with the level of production, such as direct materials, direct labor, and variable overheads.

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Accrual concept

                                                                                                                                      

MBA

Accounting for Managers

ASSIGNMENT

 

Course Code: MMPC-004

Assignment Code: MMPC-004/TMA/JULY/2022 

Coverage : All Blocks

1. Explain the following accounting concepts

(d) Accrual concept

The accrual concept is a fundamental accounting principle that recognizes and records revenue and expenses in the financial statements of a business when they are earned or incurred, regardless of when cash is received or paid. This concept aims to provide a more accurate representation of a business's financial position and performance by matching the related revenue and expenses in the same accounting period. 

Under the accrual concept, revenue is recognized when it is earned, and expenses are recognized when they are incurred, irrespective of whether cash has been received or paid. This means that revenue is recorded when the business provides goods or services to customers, even if payment has not been received. Similarly, expenses are recorded when they are incurred, even if payment has not yet been made.

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Continuity concept

                                                                                                                                     

MBA

Accounting for Managers

ASSIGNMENT

 

Course Code: MMPC-004

Assignment Code: MMPC-004/TMA/JULY/2022 

Coverage : All Blocks

1. Explain the following accounting concepts

(c) Continuity concept

The continuity concept, also known as the going concern concept, is a fundamental accounting principle that assumes that a business will continue to operate indefinitely, and that its financial statements should be prepared under this assumption. According to this concept, a business is considered to be a going concern, unless there is evidence to the contrary. 

The continuity concept is based on the idea that a business is an ongoing entity with a long-term perspective, and that its financial statements should reflect this. This means that the financial statements of a business are prepared with the assumption that the business will continue to operate in the foreseeable future, and that it will be able to meet its obligations and commitments as they come due.

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Money measurement concept

                                                                                                                                    

MBA

Accounting for Managers

ASSIGNMENT

 

Course Code: MMPC-004

Assignment Code: MMPC-004/TMA/JULY/2022 

Coverage : All Blocks

1. Explain the following accounting concepts

b) Money measurement concept

The money measurement concept is a fundamental accounting principle that states that only those transactions that can be measured in monetary terms should be recorded in the accounting system. According to this concept, any transaction that cannot be expressed in monetary terms is not considered to be significant enough to be recorded in the accounting system. 

In other words, the money measurement concept requires that only those transactions that can be quantified in terms of money or currency should be recorded, and all other transactions should be ignored. This concept assumes that money is the common unit of measurement for business transactions and that monetary values provide an objective and universally accepted measure of the value of a transaction.

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Business Entity concept

                                                                                                                                   

MBA

Accounting for Managers

ASSIGNMENT

 

Course Code: MMPC-004

Assignment Code: MMPC-004/TMA/JULY/2022 

Coverage : All Blocks

1. Explain the following accounting concepts

(a) Business Entity concept

The business entity concept is a fundamental accounting principle that states that a business entity, such as a corporation, partnership, or sole proprietorship, is separate and distinct from its owners or shareholders. According to this concept, the financial transactions and records of the business should be kept separate from the personal transactions and records of the owners. 

This means that the assets, liabilities, revenues, and expenses of the business should be accounted for and reported separately from the assets, liabilities, revenues, and expenses of the owners. For example, if a sole proprietorship purchases a vehicle for the business, the vehicle is considered a business asset, and its cost should be recorded in the business's accounting records. The vehicle does not belong to the owner personally, even if the owner uses it for personal purposes as well.

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Impact of technological environment on international business

                                                                                                                                  

MBA

Business Environment

ASSIGNMENT

 

Course Code: MMPC-003

Assignment Code: MMPC-003/TMA/JULY/2022 

Coverage : All Blocks

6. Write notes on the following: 

b) Impact of technological environment on international business.

Technology has been a driving force behind globalization, and its impact on international business cannot be overstated. The technological environment has facilitated communication, transportation, and information sharing, making it easier for businesses to operate in multiple countries. In this article, we will discuss the impact of the technological environment on international business. 

Communication Advancements in communication technology have made it easier for businesses to communicate with partners, suppliers, and customers in different countries. Video conferencing, instant messaging, and email have made communication faster and more efficient, allowing businesses to collaborate across borders seamlessly. In addition, social media has created new channels for businesses to engage with customers and market their products and services.

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Measures to reduce barriers to foreign trade.

                                                                                                                                 

MBA

Business Environment

ASSIGNMENT

 

Course Code: MMPC-003

Assignment Code: MMPC-003/TMA/JULY/2022 

Coverage : All Blocks

6. Write notes on the following: 

a) Measures to reduce barriers to foreign trade.

International trade is critical for economic growth and development as it allows countries to access goods and services that are not produced domestically and promotes specialization, innovation, and increased efficiency. However, many countries face barriers to foreign trade, which can limit their ability to participate fully in the global economy. In this article, we will discuss the measures that can be taken to reduce barriers to foreign trade. 

Tariff Reduction Tariffs are taxes levied on imported goods, which increase their price and make them less competitive in the domestic market. To reduce barriers to foreign trade, countries can reduce or eliminate tariffs on imported goods. This can make imported goods cheaper for consumers and promote competition in the domestic market, leading to lower prices and increased efficiency.

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What are the main components of Balance of Payments (BoP)? Discuss the factors affecting the BoP

                                                                                                                                

MBA

Business Environment

ASSIGNMENT

 

Course Code: MMPC-003

Assignment Code: MMPC-003/TMA/JULY/2022 

Coverage : All Blocks

5. What are the main components of Balance of Payments (BoP)? Discuss the factors affecting the BoP.

Balance of Payments (BoP) is a record of all transactions between a country and the rest of the world over a period of time. The BoP consists of three main components: the current account, the capital account, and the financial account. In this article, we will discuss these components and the factors that affect the BoP. Components of Balance of Payments Current Account The current account measures the balance of trade in goods and services, income, and transfers between a country and the rest of the world. It includes the following sub-components:

Trade in goods: This includes exports and imports of goods such as raw materials, finished goods, and consumer products. Trade in services: This includes exports and imports of services such as tourism, transportation, and financial services. Income: This includes earnings on investments and labor, such as dividends and salaries paid to foreign workers. Transfers: This includes remittances, aid, and other transfers between countries.

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The key players in the agricultural sector and discuss the role and importance of agricultural marketing

                                                                                                                               

MBA

Business Environment

ASSIGNMENT

 

Course Code: MMPC-003

Assignment Code: MMPC-003/TMA/JULY/2022 

Coverage : All Blocks

4. Describe the key players in the agricultural sector and discuss the role and importance of agricultural marketing.

The agricultural sector is a vital part of the global economy, providing food and raw materials for a wide range of industries. The sector includes a diverse range of players, from small-scale farmers to large agribusiness corporations, as well as governments, NGOs, and other organizations that support agricultural development. In this article, we will discuss the key players in the agricultural sector and the role and importance of agricultural marketing. 

Key Players in the Agricultural Sector Farmers Farmers are the primary producers of agricultural products, including crops and livestock. They play a crucial role in feeding the world's population and providing raw materials for a wide range of industries. Farmers can be small-scale producers or large commercial farmers, and they use a variety of methods and technologies to produce their crops and livestock.

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