IGNOU, MBA MS O4 Assignment Solutions

Here I am providing you the solved assignment for the MBA MS 04 of IGNOU :

Note: Please attempt all the questions and send them to the Coordinator of the Study Centre you are attached with.

Q.1 “Accounting is closely connected with control”. Elaborate the statement and discuss the role of accounting feedback in the process of control.

Solution: Controls are an integral part of any organization's financial and Accouting Process Controls consists of all the measures taken by the organization for the purpose of Internal accounting control and of procedures designed to promote and protect management practices, both general and financial. Following are the role played by accounting in the process of control.

Developing an Internal Accounting Control System
The first step in developing an effective internal accounting control system is to identify those areas where abuses or errors are likely to occur. A Guide for Management, includes the following areas and objectives in developing an effective internal accounting control system:

Cash receipts
To ensure that all cash intended for the organization is received, promptly deposited, properly recorded, reconciled, and kept under adequate security.

Cash disbursements
To ensure that cash is disbursed only upon proper authorization of management, for valid business purposes, and that all disbursements are properly recorded.

Petty cash
To ensure that petty cash and other working funds are disbursed only for proper purposes, are adequately safeguarded, and properly recorded.

Payroll
To ensure that payroll disbursements are made only upon proper authorization to bona fide employees, that payroll disbursements are properly recorded and that related legal requirements (such as payroll tax deposits) are complied with.

Grants, gifts, and bequests
To ensure that all grants, gifts, and bequests are received and properly recorded, and that compliance with the terms of any related restrictions is adequately monitored.

Fixed assets
To ensure that fixed assets are acquired and disposed of only upon proper authorization, are adequately safeguarded, and properly recorded.


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Answered By StudyChaCha Member

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i need Ms-23 solved assignments

Q. Kongo & Sons is considering two mutually exclusive projects. Both need a initial cash outlay of Rs. 10,000 each, and have a life of five years. Company’s required rate of return is 10 percent and pays tax at a 50 per cent rate. The projects are going to be depreciated on a straight line basis. The before taxes cash flows expected to be generated by the projects are as follows:
Year
1 2 3 4 5
Project P (Rs.) 4,000 4,000 4,000 4,000 4,000
Project Q (Rs.) 6,000 3,000 2,000 5,000 5,000
Calculate for each project: 1) the payback (2) the average rate of return (3) the net present value and profitability index, and (4) the internal rate of return. Which project should be accepted and why?

Please end the answer to the above question