Subject: Accounting for Managers Faculty: Avani Shah & Mayur Shah Questions Module - 1 1.

Discuss the utility and significance of financial statements to various parties interested in business concern. 2. Explain the limitations of financial accounting. 3. Describe various steps of accounting process. 4. Explain various concepts of accounting. 5. Accounting information is useful to make business decision. Explain. 6. Difference between ledger and subsidiary book. 7. Describe the Classification of Expenses. Module - 3 8. Give abridged format of a corporate balance sheet? Also give its statement form? Module 4 9. Explain the meaning and objectives of Financial Statement Analysis. 10. Explain the classification of ratios. 11. What do mean by Common Size Statement? What is its Purpose? Explain with examples. 12. Write a note on IFRS. 13. What are the various tools of financial statement analysis? Explain in brief. 14. Difference between US GAAPs and Indian GAAPs. 15. With reference to the following items , distinguish accounting treatment under IASs( now IFRS) , Indian GAAP and US GAAP . a. Cash and Cash Equivalent b. Depreciation c. Miscellaneous Expenditure

Module 2 Accounting Standards 1. Discuss in detail about salient aspects of Accounting Standard 1(issued by the Institute of Chartered Accountants of India ) dealing with disclosure of accounting policies Give a suitable example. 2. What do you mean by the term depreciation? What are its causes? Why do firms provide depreciation? 3. What is the managerial need of a Cash Flow Statement? How is it prepared? 4. Explain LIFO and FIFO methods of Inventory Valuation with Comparison. 5. Write a short note on AS no. 9 Revenue Recognition. 6. Explain in detail the applicability of Accounting Standards with reference to various level of categories of enterprises. 7. Explain the important provisions of Accounting Standard (AS 1) 8. Explain the relevant Accounting Standards with respect to (i) Recognition of revenue (ii) Depreciation Accounting (iii) Cash flow statement (iv) Inventories 9. Explain the scope and benefits of Accounting Standards. 10. Define Depreciation. Distinguish it from Depletion and Amortization. 11. Enumerate the methods of calculating Depreciation? Discuss briefly the merits and demerits of these methods. 12. Is depreciation charged to reduce profits or to reduce the value of asset during a financial year? Give suitable answer. 13. Does inventory include tangible property used for sale in the normal course of business or used for providing goods or services for sale? Discuss. 14. Write a short note on Accounting Standard 10. (Fixed Assets) 15. Write a short note on Accounting Standard 13. (Investments) 16. Explain the objectives and scope of Accounting Standard 26. 17. What are the disclosure norms for Intangible assets given in AS 26. 18. Explain the meaning and significance of intangible assets and their amortization in the financial statements. 19. What do you mean by internally generated Goodwill? 20. On what basis, internally generated intangible assets are qualified for recognition under As 26? 21. What do you mean by Amortization of Intangible Assets? 22. Explain in detail the salient features of AS 9. 23. What do you mean by Revenue Recognition at the point of Sale?