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MGT401 Financial Accounting II Assignment No 2 Solution & Discussion Due Date:07-06-2012
In the first part of the 2nd question, accrual assumption is being violated and in the 2nd part ongoing assumption is being violate.
in the last question qualitative characteristics that are being discussed in 19th lesson page 96 of the handouts have to b put. what you seems fit and appropriate, backed up with justifications of the characteristics u choose.
First question i m also not very sure but let me share what i think to b right.
· Profitability Analysis....... current stock holders investors and prospective investors
· Liquidity Analysis....... creditors
· Past performance Report........ mmm i think to prospective investors in order to come to know whether to invest in the company profitable
· Leverage condition...... i think to both the investors and the firms to invest or operate
· Taxation policies..... to Government
· Provident fund and gratuity....... employees, workforce of the firm and may to labor union as well
do share your idea please so v can get maximum out of it,,,, thanks...
Replies to This Discussion
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Permalink Reply by hunny on -
chk atcchmnt
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mgt401 _2.doc, 40 KB
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Permalink Reply by Alijankhan*(Admin) on -
Question No.1
Answer.
Profitability Analysis( shareholders, banks/financial institutions/ new coming investors)
· Liquidity Analysis(banks/Financial Institutions, shareholders, Sundery Creditors)
· Past performance Report( Banks/Financial Institutions, New Coming Investors who want to invest any company
· Leverage condition(shareholders, Creditors, Banks) becasue leverage condition shows equity and logn term debts
· Taxation policies(Govt.)
· Provident fund and gratuity(Employees)
Question 2
First Part is violated Accrual basis assumption because accounts office issued cheque on 30th December, 2011 but not made payment up till 31st December. in this case entry should be recorded on same financial year but not recorded and accountant record it 1st January, 2012 so it violation of Accrual basis assumption.
2nd part is violation of Going Concern Assumption
and 3rd question is under consideration because it is very conceptual take care to all -
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