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NMIMS Financial Accounting and Analysis assignment April 2024

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Financial Accounting and Analysis NMIMS Assignment April 2024

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NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Financial Accounting & Analysis
Internal Assignment Applicable for April 2024 Examination
Assignment Marks: 30NMIMS Global Access

Q1. Prachi Industries purchased a land worth 2 crores, office fixtures and furniture worth Rs 50 lakhs. Five years back the company has purchased an investment property for Rs 5 crores out of which today they disposed of 20% of the property, at a realizable value of Rs 3 crores. As a consultant to the company discuss as per the needs of corporate reporting the nature of these items, how the above items needs to be presented and disclosed in the corporate financial statement. (10 Marks)
Q2. Ms. Shravani , our accounts manager, is responsible for overseeing financial activities at Mogra Enterprises. She ensures accurate bookkeeping and compliance with accounting assumptions. Her junior executive is confused about how the various accounting assumptions plays a vital role in accounting. Further she wants Ms Shravani to help her in understanding the difference between the accounting period assumption and separate entity assumption, Discuss how (you being) Ms. Shravani would like to explain all these in simple terms. (10 Marks)
Q3.
Perform the common Size analysis for the year (5*2—-10 Marks)
a. 2021
b. 2022
Statements of Income
2021
2022
Operating revenues
9,56,690
9,12,813
Operating expenses
Personnel
1,13,433
1,32,080
Fuel
1,28,076
1,00,058
Purchased power
1,54,910
1,34,488
Depreciation
1,44,622
1,56,469
Maintenance
92,717
86,261
Taxes other than income taxes
63,266
63,220
Purchased services
38,392
35,948
Other
1,01,513
1,04,850
NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Financial Accounting & Analysis
Internal Assignment Applicable for April 2024 Examination
8,36,929
8,13,374
Operating income
1,19,761
99,439
Other expenses (income):
Interest expense
36,727
36,771
Interest income
( 61)
( 82)
Loss on impairment of fixed assets
4,089
0
Other, net
4,325
1,556
45,080
38,245
Income before special item and income taxes
74,681
61,194
Special item:
Reserve for drought
1,747
712
Provision for income taxes:
Current
25,061
28,457
Deferred
1,374
(7,504)
Net income
46,499
39,529
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