i am a mba fresher and i'm learning oracle finance.please
give me ur valueble suggetions about my career in oracle
finance? what r the requirements 2 get a good job in time?
When is proposed divided a current Liability and when is it
non-current liability? Why is it in the list of Current
Capital Accounts?
12
How & When We Calculate Deffered Tax...
Please Give me Some Example.?
10
how is cost concept extension of on going concept?
32
What is Cash Management System? What is advantages of using
CMS Facility?
10
2. You are required to prepare a Profit & Loss
Account for the year ending 31st December, 2007 and the
Balance Sheet on that date. The Trial Balance of XYZ Ltd.
for the year ended 31st December 2007 is as follows:-
Trial Balance of XYZ Ltd. as on 31st Dec. 2007
Debit Balances
Rs.
Credit Balances
Rs.
Materials used
3,50,000
Sales(including 2% Sales tax)
9,18,000
Cost of Labour
1,50,000
Sale of Scrap
100
Stock, finished and work in process on 31st December, 2006
50,000
Rent received
2,000
Wages : Factory Staff
15,000
Discounts
2,750
Directors Remuneration
50,000
Recovered against fire claim re : Stock
5,000
Salaries : Clerical Staff
75,000
Capital : Equity
25,000
Insurances : Workmen’s Compensation
1,500
Preference- 9%
8,000
General, fire etc.
2,000
Creditors
1,56,000
Directors’ Life Insurance
1,500
Provision for Taxation
1,05,000
Maintenance : Buildings
1,000
Profit & Loss Account
13,750
Plant and Machinery
12,500
Rent and Rates of premises and hire of plant
20,000
Heat, Light and Power
15,000
Experimental and Laboratory Expenses
10,000
Canteen Expenses
5,000
Staff Welfare expenses
2,500
Motor Expenses
12,500
Professional Charges
2,800
Postage and Telephone
3,500
Books, Printing and Stationery
11,000
Sundry expenses
10,000
Carriage and Packing on Sales
3,300
Discounts
5,000
Debtors
1,78,000
Freehold Property
50,000
Plant and Machinery
12,500
Fixtures and Fittings – Offices
3,500
Office machinery and Equipment
3,000
Motor Car and Van
6,500
Stock of materials on 31st Dec. 2007
1,20,000
Bank
38,000
Sales Tax Paid
15,000
12,35,600
12,35,600
Depreciation is to be provided at the following rates:
Plant and Machinery
10%
Fixture and
Fittings 05%
Office Machinery, etc.
10%
Motor Vans and Cars
25%
The stock of finished goods and work in progress as on 31st
December, 2007 was Rs. 35,000. Provide for preference
dividend and ordinary dividend at 10%. The total taxation
liability is estimated at Rs.1,50,000 of which Rs. 75,000
relates to the current year.
Debtors include Rs. 10,000 deposited as security against
government contracts.
The Works Manager is paid partly by salary and partly by a
commission; he is entitled to a commission of 5% on the
amount by which the surplus in the factory cost exceeds 20%
of the sales for the period. Charge the commission if any
in the Profit and Loss Account.
I have a existing Oracle applicttions and need to bring one
of the new business on it. The new business will use GL, AP
and FA. We will use existing COA. This business will have 3
sets of books (1- tax book, from April to March; 2- Primary
book, from July to June; 3- Reporting book, from July to
June); All books will have same currency; HOW DO I TRANSFER
DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY
MONTH OR ON WEEKLY? IS THERE ANY STANDARD ORACLE PROCESS
WHICH CAN BE SCHEDULED?
THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD
SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO
REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING
BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX
BOOK?.
HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS?
Thanks,
KK
Data for two divisions of Alpha Biotech Ltd. Are given
below. Analyze both divisions.
Parameters Division X Division Y
Rs. Rs.
Capital Employed 50,00,000 50,00,000
Sales 30,00,000 28,00,000
Cost of Goods Sold 21,00,000 18,00,000
Profit Before Tax 9,00,000 10,00,000
Tax 2,70,000 3,00,000
Profit After Tax 6,30,000 7,00,000
Data for two divisions of Alpha Biotech Ltd. Are given
below. Analyze both divisions.
Parameters Division X Division Y
Rs. Rs.
Capital Employed 50,00,000 50,00,000
Sales 30,00,000 28,00,000
Cost of Goods Sold 21,00,000 18,00,000
Profit Before Tax 9,00,000 10,00,000
Tax 2,70,000 3,00,000
Profit After Tax 6,30,000 7,00,000
Data for two divisions of Alpha Biotech Ltd. Are given
below. Analyze both divisions.
Parameters Division X Division Y
Rs. Rs.
Capital Employed 50,00,000 50,00,000
Sales 30,00,000 28,00,000
Cost of Goods Sold 21,00,000 18,00,000
Profit Before Tax 9,00,000 10,00,000
Tax 2,70,000 3,00,000
Profit After Tax 6,30,000 7,00,000
Data for two divisions of Alpha Biotech Ltd. Are given
below. Analyze both divisions.
Parameters Division X Division Y
Rs. Rs.
Capital Employed 50,00,000 50,00,000
Sales 30,00,000 28,00,000
Cost of Goods Sold 21,00,000 18,00,000
Profit Before Tax 9,00,000 10,00,000
Tax 2,70,000 3,00,000
Profit After Tax 6,30,000 7,00,000
15
what are the uniform public construction cost accounting
act procedures?
40
what is Internal Revenue Service (IRS) and Certificate Of
Deposit (CD)?
whst is detailed information aboutaccounting standards 20to 29
15
What is the difference between income statement &
Profit&loss A/c?
14
You been asked to prepare a training class for completing
expense statements. What points will you emphasize to
insure accurate expense statements are submitted?
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