Discuss the challenges faced by the financial managers in India.

What is trend analysis? List down some trends to look for in the review of financial statement.

Describe the reporting needs of different levels of management and how a system of reporting can satisfy it?

A gang of workers normally consists of 60 skilled, 30 semi-skilled and 20 unskilled. They are paid at standard rates per hour as under:

Skilled Re.0.80

Semi-skilled Re.0.60

Unskilled Re.0.40

In a normal working week of 40 hours, the gang is expected to produce

4000 units of output

During the week ended 31 December, the gang consisted of 80 skilled, 20 semi-skilled and 10 unskilled. The actual wages paid were @ Re.0.70, Re.0.65 and Re.0.30 respectively. 3200 units were produced. Four hours were lost due to abnormal idle time.

Calculate

i. Wage variance

ii. Wage Rate Variance

iii. Labour Efficiency Variance

iv. Idle Time Variance

v. Labour Mix Variance

vi. Labour Revised Efficiency Variance

vii. Labour Yield Variance

Social accounting

Environmental accounting

Master budget

Zero based budgeting

Standard costing and Budgeting

fixed and flexible budgeting

leverage ratios and gearing ratios

cash flow statement and funds flow statement

What are the financial statements? How far are they useful for decision-making purposes?

Describe briefly the different methods of costing and state the industries to which they can be applied.

The opportunity cost principle

The equi-marginal principle

The equi-marginal principle

The incremental concept

Discuss about the price discrimination. Explain the different types of price discrimination with the help of relevant example.

Describe monopolistic and oligopoly competition. Explain the concept of the pricing decisions under monopolistic competition in short run as well as long run.