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Financial Accounting Sem 1 NMIMS Assignment Dec 2024

Best high-quality, 1st semester assignments for the following subjects at an affordable price – December 2024 Cycle.

NEW BATCH 2024

Get plagiarism-free, expertly crafted NMIMS 1st semester assignments for the December 2024 new batch, covering essential subjects such as Business Communication, Financial Accounting, Marketing Management, Micro and Macro Economics, Organizational Behavior, and Quantitative Methods – I. Buy assignments for all subjects with the assurance of unique, high-quality content tailored to NMIMS standards.

Q1. Given the following information of ABC Ltd. as of March 31st:
1. Revenue Rs. 5,00,000
2. Cost of Goods Sold Rs. 3,00,000
3. Operating Expense Rs. 80,000
4. Depreciation Rs. 30,000
5. Tax Rate 30%
Prepare the Income Statement and calculate the Net Profit after Tax.
Additionally, evaluate how the inclusion of non-cash items like depreciation
affects the financial position of the company, and discuss its significance in
decision-making for stakeholders.
(10 Marks)
Q2 (A) Compare and contrast the role of journal entries and ledger accounts in the accounting
process. How does the relationship between these two elements ensure accurate
financial reporting? Support your answer with examples.
(5 Marks)
Q2 (B) Analyze how changes in accounting policies, such as revenue recognition, can alter
the interpretation of a corporation’s financial performance and position. Discuss the
potential implications and investors and creditors using real-life corporate examples.
(5 Marks)

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