FINANCIAL ACCOUNTING & ANALYSIS
1. The net profit before taxes as per the profit and loss account, of Gaman Ltd is Rs 269244. With the given set of information, classify the given items as (operating / investing / financing), share the correct classification with logical reasoning and calculate the cash flow from operating activities
|Loss on sale of asset||95780|
|finance cost paid on debentures||12000|
|gain on sale of investment||45000|
|Depreciation on fixed assets||85000|
2. Discuss the steps of performing trend analysis on the financial statements of any company.
Download the Balance sheet of any company of your interest from the open sources.
Perform the comparative analysis of that Balance sheet and discuss your findings.
Hint to attempt: to choose a company from open source- type the name of the company in the web page.
Download the annual report as available, latest. Identify the relevant data, and then perform comparative analysis of Balance Sheet of the company.
3. Mr. Akbar provides you with the following information- (all the transactions are separate and independent of each other)
- Started business with cash Rs150000
- Purchased goods for cash Rs 25000
- Sold goods to C on credit Rs 20000
- Paid salary for cash Rs15000
- Deposited cash into the bank account Rs100000
a. Identify the accounts being affected in the monetary transaction and Identify the type of accounts identified — real, personal or nominal.
b. Discuss the rule of passing the journal entry applicable here and pass the journal entry (Golden rule or transaction analysis, any of these rule/s can be taken as a base to justify the answer).
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