MB0052 – Strategic Management and Business Policy

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ASSIGNMENT

 

DRIVE SUMME 2015
PROGRAM MBADS/ MBAFLEX/ MBAHCSN3/ MBA – SEM 4

PGDBMN/ PGDENMN/ PGDFMN/ PGDHRMN/ PGDHSMN/ PGDIB/ PGDISMN/ PGDMMN/ PGDOMN/ PGDPMN/ PGDROMN/ PGDSCMN/ PGDTQMN – SEM 2

SUBJECT CODE & NAME MB0052 – Strategic Management and Business Policy
BK ID B1699
Credit and Max. Marks 4 credits; 60 marks

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

  1. 1. Describe the role of five major participants in the Strategic Management Process (SMP) of a company.

 

Answer:The fact that the strategic management process involves strategy making at the corporate level, SBU level and functional level also implies that managers at different levels—top, senior and middle—participate in the strategic planning and management process. In addition to the managers, the board of directors also play a definite role. Many times, management consultants also play important roles in the strategic planning and management of a company. So,

 

  1. 2. Differentiate between mission and vision of a company? Explain with examples.

Answer:The mission statement guides the day-to-day operations and decision-making of the organization. It helps in tactical planning and “rallying the troops” around a common near- to medium-term goal. The mission statement helps members of the organization get on the same page on what they should do and how they should do it.The vision statement is, in a sense, loftier. It outlines the worldview of the organization and why it exists. It attracts people — not just employees but also customers and vendors — who believe in the vision

  1. 3. Explain in detail Porter’s four generic strategies.

 

Answer: If the primary determinant of a firm’s profitability is the attractiveness of the industry in which it operates, an important secondary determinant is its position within that industry. Even though an industry may have below-average profitability, a firm that is optimally positioned can generate superior returns.

Cost Leadership Strategy: This generic strategy calls for being the low cost producer in an industry for a given level of quality. The firm sells its products either at average industry prices to earn a profit higher than that of rivals, or below the average industry prices to gain market share. In the event of a price war, the firm can maintain some profitability while the

 

 

  1. 4.Differentiate between core competence and distinctive competence.

 

Answer: Competency refers to the ability of a firm to carry out an activity well. It is built and developed by firms consciously through experience and learning. A competency reside in people in the firm and not in physical assets.A Core competency is an activity central to a firm’s profitability and competitiveness that is performed well by the firm. Core competencies create and sustain firm’s ability to meet the critical success factors of particular customer groups.A distinctive competency is a competitively valuable activity that a firm performs better than

 

  1. 5.Define the term ‘industry’. List the types of industries. How do you conduct an industry analysis?

 

Answer: A classification that refers to a group of companies that are related in terms of their primary business activities. In modern economies, there are dozens of different industry classifications, which are typically grouped into larger categories called sectors.Individual companies are generally classified into industries based on their largest sources of revenue. For example, an automobile manufacturer might have a small financing division that contributes 10

 

  1. 6. What is meant by ‘structure of an organisation’? Describe the five major structural types or forms of an organisation.

 

Answer: The organizational structure is typically a hierarchical arrangement of lines of authority, communications, rights and duties of an organization. Organizational structure determines how the roles, power and responsibilities are assigned, controlled, and coordinated, and how information flows between the different levels of management.A structure depends on the organization’s objectives and strategy. In a centralized structure, the top layer of

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MB0051-Legal Aspects of Business

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ASSIGNMENT

DRIVE FALL SUMMER 2015
PROGRAM MBADS/ MBAFLEX/ MBAHCSN3/ MBA – SEM 3

PGDBMN/ PGDENMN/ PGDFMN/ PGDHRMN/ PGDHSMN/ PGDIB/ PGDISMN/ PGDMMN/ PGDOMN/ PGDPMN/ PGDROMN/ PGDSCMN/ PGDTQMN – SEM 1

SUBJECT CODE & NAME MB0051-Legal Aspects of Business
BK ID B1725
CREDITS 4
MARKS 60

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q1. Explain the performance of contracts. (Definition, Offer of performance, Onus of performance) 4, 2, 4

Answer: Definition

 

Sections 37-67 of the Contracts Act deal with the performance of a contract. A contract creates obligations. Performance of a contract takes effect when the parties to the contract fulfill their obligations within the time and manner specified under the contract. The parties to a contract must either perform or offer to perform their respective promises unless such performance is dispensed with or excused under the provisions of law (Section 37).

 

 

 

 

 

Q3. Discuss the termination of bailment. (Explanation) 10

Answer: : A contract of bailment is voidable at the option of the bailor, if the bailee does any act with regard to the foods bailed, inconsistent with the conditions of the bailment.For example, A lets to B, for hire, a horse of his own riding B drives the horse in his carriage. This is, at the option of A, a termination of the bailment.

TERMINATION OF BAILMENT

 

 

Q4. Explain the performance of a contract of sale of goods. (Explanation) 10

Answer: A contract of sale is a legal contract an exchange of goods, services or property to be exchanged from seller (or vendor) to buyer (or purchaser) for an agreed upon value in money (or money equivalent) paid or the promise to pay same. It is a specific type of legal contract.

Performance of a Contract of Sale of Goods

The contract of sale of goods is to be performed. In this context, Sections 31-44 provide for duties of the seller and the buyer and the rules regarding delivery of goods.

 

 

 

 

Q5. Discuss the law related to the prohibition of anti-competitive agreements. (Explanation) 10

Answer: Agreements which cause or are likely to cause appreciable adverse effect on competition are anti-competitive agreements. Horizontal agreements are those that are between enterprises at the same stage of the production chain. For example, agreement between two rivals is a horizontal agreement. In cases of agreements between rivals for fixing prices or for limiting production or for sharing markets, there is a presumption in the Act that such agreements cause appreciable adverse effects on competition.

 

 

 

 

Q6. Explain the need and types of meetings. (Need for meeting, Statutory meetings, Annual General Meetings, Extraordinary meetings, Class meetings) 2, 2, 2, 2

Answer: Members of a company discuss organizational issues and other agenda through a personal gathering or through a conference call. A meeting is a routine activity in a company. It is even part of the weekly itinerary of many working individuals and business people. Meetings can be formal or informal, but for the most part, organizational meetings usually take a formal setting where preparation must be done to

 

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MB0050 – RESEARCH METHODOLOGY

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ASSIGNMENT

 

DRIVE SUMMER 2015
PROGRAM MBADS/ MBAFLEX/ MBAHCSN3/ MBA – SEM 3PGDBMN/ PGDENMN/ PGDFMN/ PGDHRMN/ PGDHSMN/ PGDIB/ PGDISMN/ PGDMMN/ PGDOMN/ PGDPMN/ PGDROMN/ PGDSCMN/ PGDTQMN – SEM 1
SUBJECT CODE & NAME MB0050 RESEARCH METHODOLOGY
CREDIT 4
BK ID B1700
MAX.MARKS 60

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

  1. 1 What do you mean by Focus Group Discussion? Explain the key elements of a focus group.

 

Answer: A focus group discussion (FGD) is a good way to gather together people from similar backgrounds or experiences to discuss a specific topic of interest.

 

  • Group discussion produces data and insights that would be less accessible without interaction found in a group setting—listening to others’ verbalized experiences stimulates memories, ideas, and experiences in participants. This is also known as the group effect where group members engage in “a kind of ‘chaining’ or ‘cascading’ effect; talk links to, or tumbles out of, the topics and expressions preceding it”
  • Group members discover a common

 

 

 

 

 

Q.2 Discuss the concepts involved in Testing of Hypothesis. Also discuss the steps involved in testing the hypothesis.

 

Answer: A statistical hypothesis is a statement about the distribution of X. Equivalently, a statistical hypothesis specifies a set of possible distributions of X: the set of distributions for which the statement is true. A hypothesis that specifies a single distribution for X is called simple; a hypothesis that specifies more than one distribution for X is called composite.In hypothesis testing, the goal is to see if there is sufficient statistical evidence to reject a presumed null hypothesis in favor of a conjectured alternative hypothesis. The null hypothesis is usually denoted H0 while the alternative hypothesis is usually denoted H1.

 

 

 

Q3.What do you mean by Exploratory research design? Explain the types of exploratory research design.

Answer: Exploratory research, as the name states, intends merely to explore the research questions and does not intend to offer final and conclusive solutions to existing problems.

 

Conducted in order to determine the nature of the problem, exploratory research is not intended to provide conclusive evidence, but helps us to have a better understanding of the problem. Saunders et al. (2007, p.134) warn that when conducting

 

 

 

 

 

 

 

Q.4  Explain the Structure of the Research Report. What are the guidelines for effective report writing?

 

Answer: The main features of a report are described below to provide a general guide. These should be used in conjunction with the instructions or guidelines provided by your department.

 

Title Page

 

This should briefly but explicitly describe the purpose of the

 

 

 

 

 

  1. 5 Explain the any three types of comparative and non-comparative scales of each in detail.

 

Answer:Comparative scales emerged from the social sciences in an attempt to measure or order attributes with respect to quantitative attributes or traits.  Scaling provides a mechanism for measuring abstract concepts.  A comparative scale is an ordinal or rank order scale that can also be referred to as a nonmetric scale.  Respondents evaluate two or more objects at one time and objects are directly compared with one another as part of the

 

 

 

  1. What do you mean by Research Problem? Explain the steps involved in research problem identification process.

 

Answer: Specifying the research question is one of the first methodological steps the investigator has to take when undertaking research. The research question must be accurately and clearly defined.

 

Choosing a research question is the central element of both quantitative and qualitative research and in some cases it may precede construction of the conceptual framework of study. In all cases, it makes the theoretical assumptions in the framework more explicit, most of all it indicates what the researcher wants to know most and first.

 

 

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MB0043 – Human Resource Management

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ASSIGNMENT

 

DRIVE SUMMER 2015
PROGRAM MBADS / MBAHCSN3 / MBAN2 / PGDBAN2 / MBAFLEX
SEMESTER 1
SUBJECT CODE & NAME MB0043 – Human Resource Management
BK ID B1626
CREDITS 4
MARKS 60

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

Q.1 The success of HR plans depends on the accuracy of HR forecasts. What is the meaning of

this HR forecasting? Describe the following HR forecasting techniques:

(a) Index/ Trend analysis and

(b) Expert forecasting

 

Answer:  Meaning of HR forecasting :

 

Human resources forecasting involves projecting labor needs and the effects they’ll have on a business. An HR department forecasts both short- and long-term staffing needs based on projected sales, office growth, attrition and other factors that affect a company’s need for labor. In addition to forecasting the number and type of workers you’ll need, HR planning includes analyzing the various costs and administrative work that go along with adding workers or downsizing. One of the most basic forecasting tasks for a human resources

 

 

 

 

Q.2 Write a brief note on: (i) Selection test and (ii) Interviews

 

Answer : Selection test :

 

Many jobs require skills, knowledge or aptitudes which it may be difficult to test accurately in the interview and within an interview it is difficult to eliminate subjective judgements. The use of tests can help to compare the candidate with the requirements of the job in a fair and objective way. Selection tests should not be used as an alternative to the interview, but only as a supplement to it. If they are to be used candidates must be given notice of the test information about the nature of the test and how long it will take an opportunity to let you know if they have special requirements (such as equipment, access requirements, or additional time to accommodate a disability). Tests can unfairly discriminate against people with

 

 

Q.3 What do you mean by management development? What are its objectives and methods?

 

Answer : Meaning of management development :

 

Management development is the process by which managers learn and improve their management skills. Aspect of organizational development that covers recruitment and assessment of executive level employees and training them in leadership to equip them for higher positions. This process generally includes development of cognitive (thinking, idea generation, and decision making), behavioural (choosing appropriate attitudes and values), and environmental (suiting management style to the situation) skills. The focus of all aspects of management development is to enable managers to more effectively accomplish their job as

 

 

 

Q.4  Suppose you have joined as HR executive in a software company. The first task you have

been assigned is to work on Career planning. What are the various career programs will

you consider?

 

Answer : Career development is the ongoing acquisition or refinement of skills and knowledge, including job mastery and professional development, coupled with career planning activities. Job mastery skills are those that are necessary to successfully perform one’s job. Professional development skills are the skills and knowledge that go beyond the scope of the employee’s job description, although they may indirectly improve job performance.

 

  1. Understand:

 

As a leader, you play a key role in career

 

 

Q.5 Define performance review. What are the types of appraisal methods? Describe the ways

to evaluate an employee individually.

 

Answer :  Performance review:

 

A performance appraisal (PA), performance review, performance evaluation, (career) development discussion, or employee appraisal is a method by which the job performance of an employee is evaluated. Performance appraisals are a part of career development and consist of regular reviews of employee performance within organizations. A performance appraisal is a systematic and periodic process that assesses an individual employee’s job performance and productivity in relation to certain pre-established criteria and organizational objectives. Other aspects of individual employees are considered as well, such as organizational

 

 

  1. 6 Many organisations maintain a disciplinary policy or system to regulate the behaviour of

the employees and deal with acts of indiscipline. Describe such various disciplinary action

– penalties in business organisations.

 

Answer :  Commonly practiced disciplinary actions :

 

  • Oral warning
  • Written warning
  • Loss of entitlement
  • Suspension
  • Demotion
  • Termination of appointment
  • Dismissal

 

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MB0042- MANAGERIAL ECONOMICS

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ASSIGNMENT

DRIVE SPRING 2015
PROGRAM MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2
SEMESTER 1
SUBJECT CODE & NAME MB0042- MANAGERIAL ECONOMICS
BK ID B1625
CREDIT & MARKS 4 Credits, 60 marks

 

 

 

  1. Define economies of scale. Discuss the kinds of internal economies.

Answer: Economies of scale are the cost advantages that a business can exploit byexpanding their scale of production. The effect of economies of scale is to reduce the average (unit) costs of production.

There are many different types of economy of scale and depending on the particular characteristics of an industry, some are more important than others.

Internal economies of scale

Internal economies of scale arise from the

 

 

 

 

                                                               

  1. Consumers’ interview method is a survey method used for estimating the demand for new

products. This method is very important with regard to collect the relevant information

directly from the consumers with regard to their future purchase plans. Opinion surveys

and direct interview method are the two important techniques among all. Describe these

two methods in detail.

 

Answer:Primary vs. secondary research methods: There are two main approaches to marketing.  Secondary  research involves using information that others have already put together.  For example, if you are thinking about starting a business making clothes for tall people, you don’t need to question people about how tall they are to find out how many tall people exist—that information has already been published by the U.S. Government.  Primary research, in contrast, is research that you design and conduct yourself.  For example, you may need to find out whether consumers would prefer that your soft drinks be sweater or tarter.

 

Survey method is one of the most common and direct methods

 

 

Q3. A cost-schedule is a statement of variations in costs resulting from variations in the levels of output and it shows the response of costs to changes in output. If we represent the relationship between changes in the level of output and costs of production, we get different types of cost curves in the short run. Define the kinds of cost concepts like TFC, TVC, TC, AFC, AVC, AC and MC and its corresponding curves with suitable diagrams for each.

 

Answer: The project cost can be monitored by comparing the actual cost of the project with the estimated cost. This shows the areas that are overestimated and those that are underestimated. By carefully monitoring expenses you can ensure the cost of the project is within the amount allowed for in the quote.  Select the numbers in the project cost table to see the types of information required to work out an estimated project cost. A proper understanding of the nature and behaviour of costs is a must for regulation and control of cost of production. The cost of production depends on money forces and an understanding of the

 

 

 

 

Q 4. Inflation is a global Phenomenon which is associated with high price causes decline in the value for money. It exists when the amount of money in the country is in excess of the physical volume of goods and services. Explain the reasons for this monetary phenomenon.

 

Answer: In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. When the price level rises, each unit of currency buys fewer goods and services. Consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy. A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index (normally the consumer price index) over time. The opposite of inflation is deflation.

 

Define Inflation- Inflation is commonly understood as

 

 

 

 

 

  1. Describe perfect competition and its features.

 

Answer: Perfect Competition is a market structure where there is a perfect degree of competition and single price prevails.

 

The concept of Perfect Competition was introduced by Dr. Alfred Marshall.

 

Main Features of Perfect Competition ↓

 

 

 

 

 

  1. Define revenue. Explain the types of revenue and the relationship between TR, AR and MR

with an example of a hypothetical revenue schedule.

 

Answer: In business, revenue or turnover is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries and states, revenue is referred to as turnover. Some companies receive revenue from interest, royalties, or other fees. Revenue may refer to business income in general, or it may refer to the amount, in a monetary unit, received during a period of time, as in “Last year, Company X had revenue of $42 million.” Profits or net income generally imply total revenue minus total expenses in a given period. In accounting, revenue is often referred to as the “top line” due to its position on the income statement at the very top. This is to be contrasted with the “bottom line” which denotes net income.

 

Revenue is the total amount received by a business or

 

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MB0041- FINANCIAL AND MANAGEMENT ACCOUNTING

 

ASSIGNMENT

 

DRIVE SUMMER 2015
PROGRAM MBADS / MBAHCSN3 / MBAN2 / PGDBAN2 / MBAFLEX
SEMESTER I
SUBJECT CODE & NAME MB0041- FINANCIAL AND MANAGEMENT ACCOUNTING
BK ID B1624
CREDITS 4
MARKS 60

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

Q.1 Inventory in a business is valued at the end of an accounting period, at either cost or market price, whichever is lower. This is accepted convention or a practice in accounting.  Give a small introduction on accounting conventions and elucidate all the eight accounting conventions.

 

Answer : Accounting convention :

 

Guidelines that arise from the practical application of accounting principles. An accounting convention is not a legally-binding practice; rather, it is a generally-accepted convention based on customs, and is designed to help accountants overcome practical problems that arise out of the preparation of financial statements. As customs change, so to will accounting conventions. If an oversight organization, such as the Securities and Exchange Commission (SEC) or the Financial Accounting Standards Board (FASB) set forth a guideline that addresses the same topic as the accounting convention, the accounting convention will no longer be applicable.

 

Explanation of all the 8 types of conventions  :

 

The various kinds of convention include:

 

  1. Consistency:

 

It states that accounting method used in one accounting period should be the same as the method used for events or transactions which are materially similar in other period (i.e. accounting practices should remain unchanged from period to period ). This also involves treatment of transaction and valuation method. Consistency is also advisable so that the comparison of accounting figures over time is meaningful. Consistency also states that if a change becomes necessary, the change and its effect should be clearly stated.

 

  1. Materiality:

 

An item should be regarded as material if there is reason to believe that knowledge of it would influence decision of informed investors. An item is also considered material if its omission or misstatement could distort the financial statement such that it influences the economic decision of users taken on the basis of financial statement.

 

  1. Prudence or conservatism:

 

This is an accounting practice that emphasizes great care in the anticipation of possible gains while possible losses are efficiently provided for. Prudence requires an accountant to attempt to ensure that the degree of success is not overstated. It also makes provision for possible bad and doubtful debts out of current year’s profit.

 

  1. Objectivity:

 

This convention states that the financial statement should be made on verifiable evidence.

 

  1. Disclosure:

 

It states that information relating to the economic affairs of the enterprise which are of material interest should be clearly disclosed to the readers.

 

  1. Monetary measurement:

 

Accountants do not account for items unless they can be quantified in monetary terms. Items that are not accounted for (unless someone is prepared to pay something for them) include things like workforce skill, morale, market leadership, brand recognition, quality of management etc.

 

  1. Separate Entity:

 

This convention seeks to ensure that private transactions and matters relating to the owners of a business are segregated from transactions that relate to the business.

 

  1. Dual aspect concept:

 

This concept ensures that transaction are recorded in books at least in two accounts, if one account is debited it’s also credited with the same amount in a different account. The recording system is also known as double entry system. Assets = Liabilities + Capital.

 

 

  1. 2 Write down a table with the accounts involved / the nature of account/its affects/ debit or

credit. Please have the transactions given below and prepare the table as per the instructions given above

for each transaction.

  1. 1.1.2011 Sunitha started his business with cash Rs. 5,00,000
  2. 2.1.2011 Borrowed from Malathi Rs. 5,00,000
  3. 2.1.2011 Purchased furniture Rs. 1,00,000
  4. 4.1.2011 Purchased furniture from Meenal on credit Rs. 1,50,000
  5. 5.1.2011 Purchased goods for cash Rs. 50,000
  6. 6.1.2011 Purchased goods from Ram on credit Rs. 2,50,000
  7. 8.1.2011 Sold goods for cash Rs. 1,25,000
  8. 8.1.2011 Sold goods to Shyam on credit Rs. 55,000
  9. 9.1.2011 Received cash from Shyam Rs. 25,000
  10. 10.1.2011 Paid cash to Ram Rs. 90,000

 

 

 

Answer :The each transaction  as per the instructions gicen below:

 

Sl No Accounts involved Nature of Account Affects Debit/Credit
a Cash A/c
Capital A/c
Real
Personal
Cash is Coming in
Sunitha is the giver
Debit
Credit
b Cash A/c
Loan from Malathi
Real
Personal
Cash is Coming in
Malathi is the giver
Debit
Credit
c Furniture A/c
Cash A/c
Real
Real
Furniture is Coming in
Cash is going out
Debit
Credit
d Furniture A/c
Meenal A/c
Real
Real
Furniture is Coming in
Meenal is going out
Debit
Credit
e Purchase A/c
Cash A/c
Nominal
Real
Purchase is an expensive
Cash is going out
Debit
Credit
f Purchase A/c
Ram’s A/c
Nominal
Personal
Purchase is an expensive
Ram is the giver
Debit
Credit
g Cash A/c
Sales A/c
Real
Personal
Cash is coming in
Sales is revenue
Debit
Credit
h Shyam’s A/c
Sales A/c
Personal
Nominal
Shayam is the receiver
Sales is the revenue
Debit
Credit
i Cash A/c
Shyam’s A/c
Real
Personal
Cash is  coming in
Shyam is the giver
Debit
Credit
j Ram’s A/c
Cash A/c
Personal
Real
Ram is the receiver
cash is going out
Debit
Credit

 

 

3 .The following items are found in the trial balance of M/s Sharada Enterprise on 31st December, 2000.

Sundry Debtors Rs.160000

Bad Debts written off Rs 9000

Discount allowed to Debtors Rs. 1800

Reserve for Bad and doubtful Debts 31-12-1999 Rs. 16500

Reserve for discount on Debtors 31-12-1999 Rs. 3200

You are required to provide the bad and doubtful debts at 5% and for discount on debtors at 2%. Show the adjustments for bad debts, bad debts reserve, discount account, and provision for discount on debtors.

Hint: RBD to be provided = 500

Reserve for discount to be provided now =1640

(Calculation of amount debited to P/L a/c towards RBD 3 marks ; calculation of amount debited to P/L a/c towards reserve for discount on debtors 5 marks; conclusion with summary 2 marks)

 

Answer : Solution:

The amount debited to P&L account towards RBD is computed as follows:

Old RBD            = Rs.16500

(-) Bad debts    = Rs. 9000

Balance             = Rs. 7500

New RBD @5%on 160000   = Rs. 8000

RBD to be provided               = Rs.500(8000-7500)

The amount debited to P&L account towards Reserve for Discount on Debtors is computed as follows:

Good Debtors            = Rs. 160000-Rs. 8000(New RBD) = Rs. 152000

Old Reserve for discount on Drs= Rs. 3200

Less Discount on Drs= Rs. 1800

Balance Reserve                               = Rs.1400

New Reserve for Discount at 2% on good Drs 152000 = Rs. 3040

Reserve for Discount to be provided now                       = Rs. 1640(3040-1400)

In the balance sheet, the Sundry debtors are reduced by bad debts shown outside the trial balance, the new RBD, discount on debtors shown outside the trial balance, the new RBD, discount on debtors shown outside the trial balance and the new Reserve for discount on debtors.

 

 

 

 

Q.4  The reports prepared in financial accounting are also used in the management accounting. But there are few major differences between financial accounting and management accounting.

Explain the differences between financial accounting and management accounting in various

dimensions.

 

Answer : Differences between the financial and management accounting  :

 

Financial accounting is the preparation and communication of financial information to outsiders such as creditors, bankers, government, customers etc. Another objective of financial accounting is to give complete picture of the enterprise to shareholders. Management accounting on the other hand aims at preparing and reporting the financial data to the management on regular basis. Management is entrusted with the responsibility of taking appropriate decisions, planning, performance evaluation, control, management of costs, cost determination, etc. For both financial accounting and management accounting the financial data are the same. The reports prepared in financial accounting are also used in management accounting but there a few major differences between financial accounting and management accounting.

 

Difference between Financial Accounting and Management Accounting

 

Dimension Financial accounting Management Accounting
Users The primary users of financial accounting information are external users like shareholders, creditors, government authorities, employees etc. The primary uses of management accounting are internal users like top, middle, and lower level management.
Purpose Reporting financial performance and financial position to enable the users to take financial decisions. To help the management in planning, decisions making, monitoring, and controlling.
Need It is a statutory requirement. What to report, how to report, how much to report, when to report, in which form to report, etc, are stipulated by law or standard. It is optional. What to report, how to report, how much to report, when to report, in which form to report, etc., are decided by the management as per the needs of the company or management.
Expression of information Accounting information is always expressed in terms of money. Management accounting may adopt any measurement unit like labor hours, machine hours, or product units for the purpose of analysis.
Reporting timing and frequency Financial data is presented for a definite period, say one year or a quarter. Reports are prepared on a continuous basis, monthly, weekly or even daily.
Time perspective Financial accounting focuses on historical data Management accounting is oriented towards the future.
Sources of principles Financial accounting is a discipline by itself and has its own principles, policies and conventions (GAAP) Management accounting makes use of other discipline like economics, management, information system, operational researches.
Reporting entity Overall organization Responsibility centers within the organization.
Form of reports Income statement ( profit and Loss a/c)
balance sheet
cash flow statement
MIS reports
performance reports
control reports, cost statements, variance statements, budgets, estimate statements flowcharts.

 

 

 

Q.5 Draw the Balance Sheet for the following information provided by Sandeep Ltd..

 

  1. current ratio : 2.50
  2. liquidity ratio : 1.50
  3. net working capital : 300000
  4. stock turnover ratio : 6 times
  5. Ratio of Gross Profit to Sales : 20%
  6. Fixed Asset Turnover Ratio : 2 times
  7. Average Debt collection period : 2 months
  8. Fixed Assets to Net Worth : 0.80
  9. Reserve and Surplus to Capital: 0.50

 

 

 

Answer:

A Preparation of Balance sheet

Balance Sheet

Liabilities Rs. Assets Rs
Capital 500000 Fixed Assets 600000
Reserves and Surplus 250000 Inventories 200000
Long-term Debt 150000 Debtors 250000
Current Liabilities 200000 Bank 50000
Total 1100000 Total 1100000

 

                                                                                Working Notes

If current Liabilities                                  =1
Current Assets                                          = 2.5
Working capital (2.5 -1)                           = 1.5
Therefore Current Assets (2.5/1.5) * 300000
Current Liabilities (1/1.5) * 300000

= 300000
= 500000
= 200000

 

Liquidity Ratio                                  =1.5
Current Liabilities                            = 200000
Therefore Current Liquid Asset (200000*1.5)
Inventories (Current Asset – liquid asset )

= 300000
= 200000

 

 

Stock Turnover ratio                  = 6times
Cost of sales (6*200000)
Gross Profit ratio                             = 20%

Gross profit
If sales is 100; gross profit  is 20
Hence cost of sales is (100-20) =80
Therefore Gross Profit is (20/80) * 1200000
Sales (cost of sales + Gross profit )


=1200000

= 300000
= 1500000

 

 

Fixed Assets turnover ratio      =2 times
(cost of sales/fixed assets)
Therefore Fixed Assets (1200000*2)

=600000

 

 

Debtor’s collection Period    = 2times
(Month in a year /Debtor’s turnover)
Debtor’s Turnover ratio (12/2)     =6times

( Sales/Debtors)
Debtors ( 1500000/6)

= 250000

 

 

Fixed assets to shareholders net worth =0.80
Shareholder’s Net worth (600000/0.80)

= 750000

 

 

Reserves and surplus to capital  =0.50
If capital is 1: reserves and surplus is 0.5
Reserves and Surplus +capital = Shareholder’s net worth (0.5+1=1.5)
Reserves and surplus (7500000*(0.5/1.5)
Therefore share capital

= 250000
=500000

 

 

 

Q.6  Write the main differences between cash flow analysis and fund flow analysis. 

Following is the balance sheet for the period ending 31st   March 2011 and 2012. If the current

year’s net loss is Rs.38,000, Calculate the cash flow from operating activities.

 

 

    31st march
  2011 2012
Short-term loan to employees 15000 18000
creditors 30000 8000
Provision for doubtful debts 1200  
Bills payable 18000 20000
Stock in trade 15000 13000
Bills receivable 10000 22000
Prepaid expenses 800 600
Outstanding expenses 300 500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Answer : Differences between cash flow and fund flow analysis

 

Cash Flow Analysis Fund Flow Analysis
It is concerned only with the change in cash position. It is concerned with change in working capital position between two balance sheet dates.
It is merely a record of cash receipts and disbursements Net effect of receipts and disbursement are recorded.
Cash is part of working capital and therefore an improvement in cash position results in improvement in the funds position             An improvement in funds positions   need not result in improvement in cash position
             It is cash based              It is accrual based

 

 

b.Preparation of statement showing cash flow from operating activities :

 

Answer : Statement showing cash flow from operating activities

 

Net Loss   (38,000)
Add: Decrease in current assets    
Decrease in stock 2,000  
Decrease in prepaid expenses 200  
Increase in current liabilities    
Increase in outstanding expenses 200  
Increase in bills payable 2,000 +4.400
    (33,600)
     
Less: Increase in current assets    
Increase in short-term loan to the employee 3,000  
Increase in bills receivable 10,000  
Decrease in creditors 22,000  
Decrease in provision for doubtful debts 1,200 (36,200)
Net cash lost in operating activities   (69.800)

 

 

 

 

 

 

MB0040 STATISTICS FOR MANAGEMENT

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DRIVE SUMMER 2015
PROGRAM MBA
SEMESTER 1
SUBJECT CODE & NAME MB0040 STATISTICS FOR MANAGEMENT
BK ID B1731
CREDIT & MARKS 4 Credits, 60 marks
Name XXXXX

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Q1 Distinguish between Classification and Tabulation. Explain the structure and components of a Table with an example.

  • Meaning of Classification and Tabulation
  • Differences between Classification and Tabulation
  • Structure and Components of a Table with an example

 

Answer.

Meaning of Classification and Tabulation

Classification

According to Secrist, “Classification is the process of arranging data into sequences and groups according to their common characteristics or separating them into different but related parts”. According to Stockton and Clark, “The process of grouping large number of individual facts and observations, on the basis of similarity

 

 

Q2. (a) Explain Arithmetic mean. 3

 

(b) The mean wage is Rs. 75 per day, SD wage is Rs. 5 per day for a group of 1000 workers and the same is Rs. 60 and Rs. 4.5 for the other group of 1500 workers. Find the mean and standard deviation for the entire group. 7

 

Answer:

 

(a) Arithmetic mean:  Arithmetic mean is defined as the sum of all values divided by number of values and is represented by X . Arithmetic mean is also called ‘average’. It is most commonly used measures of central tendency. Arithmetic Mean of a series is the value obtained by adding all the observations of a series and

 

 

Q3. Mr. Arun and Mr. Bhandari play a game. If Mr. Arun picks up an even number from 1 to 6, Mr. Bhandari will pay him double the amount equal to picked up number. If Mr. Arun picks up an odd number then he has to pay amount equal to double the picked up number. What is Mr. Arun’s expectation? 10

 

Solution: Let Xi be the random variable and P(Xi) be its probability. The probabilities are indicated in table.

 

Required Values for Calculating Mean and Variance for the Data

 

 

               NO.                      (Xi)                   P(Xi)                     Xi P(Xi)
               1                      -2                 1/6                  – 2/6
               2                     4                 1/6                    4/6

 

 

 

 

Q4. The probability that an employee will get an occupational disease is 20%. In a firm having five employees, what is the probability that:

  1. i) None of the employees get the disease 4
  2. ii) Exactly two will get the disease 3

iii) More than four will contract the disease 3

 

Answer: Solution

 

Given that:

p 20/100

0.2

 

 

Q5. Microsoft estimated that out of 10,000 potential software buyers, 35% wait to purchase the new OS Windows Vista, until an upgrade has been released. After an advertising campaign to reassure the public was released, Microsoft surveyed 3000 buyers and found 950 who are still skeptical. At 5% level of significance, can the company conclude that the population of skeptical people had decreased? 10

 

Answer: Solution:

 

The procedure is explained in the following steps:

 

  1. Null hypothesis Ho: p = .35

 

 

Q6. Explain Chi-square test and the conditions for applying chi-square test. (Meaning, Conditions) 5, 5

 

Answer: Chi-Square test: The Chi-square test is one of the most commonly used non-parametric tests in statistical work. The Greek Letter 2 is used to denote this test. 2 describe the magnitude of discrepancy between the observed and the expected frequencies. The value of 2 is calculated as:

 

 

Where, O1, O2, O3….On are the observed frequencies and E1, E2, E3…En are the corresponding expected or theoretical frequencies.

 

 

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MB0039 –Business Communication

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ASSIGNMENT

 

DRIVE SUMMER  2015
PROGRAM MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2
SEMESTER 1
SUBJECT CODE & NAME MB0039 –Business Communication
BK ID B1622
Credit and Max. Marks 4 credits; 60 marks

 

Note – Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

 

 

  1. 1 Irrespective of the setting in which communication takes place, there are some key elements involved. What are the key elements of communication?

Answer:

 

 

Seven major elements of communication process are: (1) sender (2) ideas (3) encoding (4) communication channel (5) receiver (6) decoding and (7) feedback.

 

Communication may be defined as a process concerning exchange of facts or ideas between persons holding different positions in an organisation to achieve mutual harmony. The communication process is dynamic in nature rather than a static phenomenon.

 

 

 

 

 

Q2 What is the importance of Kinesics and Proxemics in communication? Explain with examples.

 

Answer: Kinesics: Kinesics is the most often studied and important area of non-verbal communication and refers to body movements of any kind. Different body movements can express inner states of emotion. The different body movements are:

 

  • Facial expressions – Facial expressions can convey feelings of surprise, happiness, anger and sadness. If you meet a long lost friend and say “I am very happy to meet you again”, but with a sad facial expression, it conveys the exact opposite meaning.

 

  • Eye movements – Direct eye contact

 

 

 

 

 

  1. What are the steps in making oral business presentation?

 

Answer: Speech is always Informational and persuasive.In persuasive speech as politicians and religious scholars do ,you have to convince your audience . You can take examples of President Obama’s election speeches. In Persuasive speech you should have some unique and wonderful ideas.

The material of your presentation should be concise, to the point and tell an interesting story. In addition to the obvious things like content and visual aids, the following are just as important as the audience will be subconsciously taking them in:

 

 

 

 

Q4. Imagine a new product from kids’ apparel industry. Write a persuasive letter to customers, persuading them to buy your company’s product.

 

Answer: I have chosen a new line of chocolates from food industry. And here is the persuasive letter to customers to persuading them to buy our company’s new line of chocolates.

 

 

 

 

 

 

Q5 You are going to face a job interview for the post of Manager-operations. Which aspects you will keep in mind while facing the interview?

 

Answer :  To face a job interview is the most important stage of the job application process, during which attention should be paid to the following aspects:

 

Opening formalities – Since it is important to create a good first impression, the way you greet and introduce yourself is important. Using the name of the interviewer correctly, giving a firm handshake, waiting till you are asked to be seated and sitting with an erect posture are common courtesies that should be observed to project a

 

 

 

Q6 Write short notes on:

  1. a) Skimming

Answer: Skimming is used to quickly identify the main ideas of a text. When you read the newspaper, you’re probably not reading it word-by-word, instead you’re scanning the text. Skimming is

 

 

  1. b) Notices

 

Answer: At common law, notice is the fundamental principle in service of process. In this case, the service of process puts the defendant “on notice” of the allegations contained within a criminal defendant to be notified of the charges and their grounds.

The main function of writing a notice is to give some important information to a group of people. It can refer to an event that has happened or an event that is about to happen in the near future.

 

 

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MB0038 – Management Process and Organisational Behaviour

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ASSIGNMENT

 

DRIVE SUMMER 2015
PROGRAM MBADS / MBAHCSN3 / MBAN2 / PGDBAN2 / MBAFLEX
SUBJECT CODE & NAME MB0038 – Management Process and Organisational Behaviour
SEMESTER 1
BK ID B 1621
CREDITS 4
MARKS 60

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

 

 

Q1. List and describe the different strategies in the Organization.

 

Answer :  Business strategy determines how successful businesses are at achieving their goals and objectives. Goals and objectives indicate what a business wants to do; strategy indicates how a business will do it. Determining your best business strategy requires consideration of your mission and vision, and an understanding of the environment you operate in.

 

A Growth Strategy

Businesses that are entering new markets or introducing new products or services can benefit from a growth business strategy, says Lin Grensing-

 

 

Q2.What do you mean by Decision Making? Explain Decision making under certainty, uncertainty and risk. Describe the steps in Creative Decision making.

 

Answer :  Decision making is the study of identifying and choosing alternatives based on the values and preferences of the decision maker.

 

Making a decision implies that there are alternative choices to be considered, and in such a case we want not only to identify as many of these alternatives as possible but to choose the one that (1) has the highest probability of success or effectiveness and (2) best fits with our goals, desires, lifestyle, values, and so on. The two important ideas here are that first, there must be some genuine alternatives to choose from among. Note that ”

 

 

Q.3 What is meant by ‘span of control’? Differentiate between narrow span of control and wide span of control. What are the factors that influence the span of control?

 

Answer :  Span of control:

 

Span of control is the term now used more commonly in business management, particularly human resource management. Span of control refers to the number of subordinates a supervisor has.

In the hierarchical business organization of some time in the past it was not uncommon to see average spans of 1 to 4 or even less. That is, one manager supervised four employees on average. In the 1980s corporate leaders flattened many organizational structures causing average spans to move closer to 1 to 10. That was made possible

 

 

 

 

Q.4 Define Organisational behaviour. What are the various approaches to Organisational behaviour? 

 

Answer : Organisational behaviour:

 

Organizational behavior is a field of study that investigates the impact that individuals, groups and structures have on behavior within an organization for the purpose of applying such knowledge towards improving an organization’s effectiveness. It is an interdisciplinary field that includes sociology, psychology, communication, and management; and it complements the academic studies of organizational theory (which is focused on organizational and intra-organizational topics) and human resource studies (which is more applied and business-oriented). It may also be referred to as organizational studies or organizational science.

 

 

 

 

Q.5 Perception is the way we see and interpret things. Explain the importance of such ‘perception’. What are the factors affecting perception?

 

Answer : Importance of perception :

 

The relationship between perception and organizational behavior stems from the role that the perception of an employee regarding factors in an organization influence the manner in which he or she reacts or performs in the organization. This process of perceiving something is a truly complicated one that is often shaped by individual preconceived notions regarding certain factors. As such, it is possible for two people to look at the same object and still manage to perceive it in wholly different ways. Sometimes, there are certain aspects that lend themselves to a more uniform sort of perception than others, even if there will still be some variations as a result of individual characteristics and cognitive processes. To this end,

 

 

 

Q.6 Give the definition and importance of ‘motivation’. Describe Maslow’s hierarchy of needs theory.

 

Answer:  Definition of motivation :

 

Motivation is one of the most important factors determining organizational efficiency. All organizational facilities will go to waste in absence of motivated people to utilize these facilities effectively. Every superior in the organization must motivate its subordinates for the right types of behavior. The performance of human beings in the organization is dependent on the ability in the motivation. Rensis Likert called motivation as” the cost of the management”. Motivation is an effective instrument in the hands of management in inspiring the workforce.

 

Importance of motivation :

 

  1. Best utilization of resources:

 

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MF0013 – INTERNAL AUDIT & CONTROL

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ASSIGNMENT

 

DRIVE SUMMER 2015
PROGRAM MBADS – (SEM 3/SEM 5) / MBAN2 / MBAFLEX – (SEM 3) /

PGDFMN – (SEM 1)

SUBJECT CODE & NAME MF0013 – INTERNAL AUDIT & CONTROL
SEMESTER 3
BK ID B1733
CREDITS 4
MARKS 60

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

Q.1 Define and explain the term auditing. “Personal qualities of an auditor are important for the successful conduct of audit”. Comment

 

Ans : Definition of auditing :

 

The term audit is derived from the Latin term ‘audire,’ which means to hear. In early days an auditor used to listen to the accounts read over by an accountant in order to check them . Auditing is as old as accounting. It was in use in all ancient countries such as Mesopotamia, Greece, Egypt. Rome, U.K. and India. The Vedas contain reference to accounts and auditing. Arthasashthra by Kautilya detailed rules for accounting and auditing of public finances

 

 

Explanation of auditing :

 

Auditing is such an examination of books of accounts and

 

 

 

 

Q.2 Write the key objectives of a good internal audit system. Narrate the points of dissimilarities between external audit and internal audit.

 

Ans : Key objectives of a good internal audit system :

 

 

  1. To determine whether controls over financial and operating data provide managers with reasonable assurance that the financial and operating data is accurate and reliable (i.e., that information gathering and reporting has been properly planned, organized and directed).

 

  1. To determine whether controls over compliance with policies, procedures, plans, laws and regulations provide managers with reasonable assurance that proper compliance actually occurs (i.e., that compliance activities have been properly planned, organized and directed).

 

  1. To determine whether controls over assets provide managers with reasonable assurance that assets exist and are protected against loss

 

 

 

 

Q.3 Give the role of internal auditor in the Company’s Management. List down the duties of auditor Under Section 581ZG.

 

Ans : Role of internal auditor in the company’s management :

 

The main role and responsibilities of the auditor should be set out in written terms of reference and should include:

  • to monitor the integrity of the financial statements of the company, and any formal announcements relating to the company’s financial performance, reviewing significant financial reporting judgements contained in them;
  • to review the company’s internal financial controls and, unless expressly addressed by a separate board risk committee composed of independent

 

 

 

Q.4 The effectiveness of the internal control system can be ensured if the important aspects of the company’s operations are kept in mind. Explain the characteristics of an effective internal control system. Write the elements of internal control.

 

Ans : Characteristics of an effective internal control system :

 

  1. Control Environment:

 

The control environment is the company’s attitude toward internal controls. Known as “tone-at-the-top,” the control environment is a necessary condition for effective internal control, because even the best-designed systems can be thwarted if management overrides the controls that are in place. Indicators of an effective control environment include having a whistleblower hotline or discipline policies that take violations of internal control seriously. Management override of controls or shortcuts are signs that the control environment may be deficient.

 

  1. Risk Assessment:

 

 

 

 

 

Q.5 Describe general EDP controls. Explain the appraisal of accounting system and related internal control.

 

Ans : General EDP controls :

 

These controls apply to a wide range of expressions that systematically threaten the integrity of all applications processed within the Computer Based Information System (CBIS). Following are the sub divisions of general controls:

 

Operating system controls

 

  1. Operating System allows users to share and access common computer resources. It’s the

computer’s control program.

  1. If OS‟s integrity is compromised, controls within individual accounting applications may

be neutralized.

  1. Since the OS is common to all users, the larger the computer facility, the greater the scale of potential damage.

 

 

 

Q.6 Explain the internal control systems in insurance companies. Write down about the reporting internal control weaknesses.

 

Ans : Internal control systems in insurance companies :

 

The following principles will be applicable to insurance undertakings’ Internal Control:

 

  1. Control culture :

 

The board of directors is responsible for promoting a high level of integrity and for establishing a culture within the company that emphasises and demonstrates to all levels of personnel the importance of internal control. Management is responsible for the implementation of the internal control Culture and principles. All personnel need to understand their role in the internal control process and be fully engaged in the process.

 

  1. Risk assessment :

 

 

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