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MTTM 5 Solved Assignment 2021-22


MTTM 5 Solved Assignment 2021-22


MTTM 5 Solved Assignment 2021-22 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.

Programme: MTTM/MTM

Course Code: MTTM 5/MTM-5

Assignment Code: MTTM 5/MTM 5/TMA/2021

Total Marks: 100

Note: This TMA consists of ten questions, out of which you have to attempt any five. The question carries 20 marks each and should be answered in about 500 words. Send your TMA to the Coordinator of your Study Centre.

1. Give an account of the various personnel working in the accounting department of an organisation. Explain the role and activities of an accountant.


An accountant plays a really crucial role in a corporation, no matter whether it’s a multinational company or alittle, domestic one. The inflow and outflow of the company’s money are closely monitored by the accountant, who also makes sure that each one financial transactions are legal, correct, which they went through the right channels. They work closely with bookkeepers to make sure that the company’s financial statements are so as.

Accountant vs Auditor

It is common to seek out people that are neither an accountant nor an auditor to be ready to differentiate between the 2 Indeed, the 2 professions share tons of similarities, but they both also accompany several differences. Allow us to discuss a number of these points within the following paragraphs. In most cases, an accountant may be a regular employee of a corporation or one who’s been hired by a corporation and pursues long-term employment. On the opposite hand, an auditor may are hired by a corporation from a service provider on a short-term or project basis so as to validate or substantiate the work done by the accountant. An auditor ideally shouldn’t have any connections with the corporate, to avoid biases. In reference to the point, the auditor doesn’t need a permanent space within the office block of the corporate who hired him, as he will got to move from department to department. The other goes for the accountant who keeps his own office, with other accountants on the team. It is the accountant’s responsibility to see the corporate ’s finances on a day to day and make financial reports at the top of the year so as to report back to the management the particular financial situation of the company and determine its strong and weak points. The auditor, on the opposite hand, is tasked to form sure that these figures are reasonably accurate. Hiring a corporation auditor is required for public companies or private companies with third-party interests (i.e., debt obligations) requiring them to undergo an audit. It’s optional for personal companies. Their work is about against auditing standards while that of accountants is regulated by international accounting standards.

Accountant vs Bookkeeper

Makes a record of each financial transaction entered into by a corporation every single day. It’s his job to process receipts, invoices, also as payments, and confirm that everything is listed down.
Makes a record of all assets and accounts payable or, in simpler words, the cash that goes into paying creditors and therefore the money that comes in from debtors. For instance, a customer who owes the corporate a selected amount monthly for 6 months are often anesthetize assets. Processes the payroll. It’s the work of the bookkeeper to take care of the payroll and confirm that every employee receives the precise amount that’s thanks to them. Keeps track of the company’s money, including all the expenses it makes, also as its earnings, on a day to day. The info is extremely important because, when compiled into reports, they describe the fiscal health of the corporate, and errors can cause poor reporting and bad decisions.

Responsibilities of an Accountant
The responsibilities of an accountant are numerous, and a few of them may overlap with those of the bookkeeper. During a nutshell, the accountant understands and interprets a company’s financial health through the mixture of his knowledge of numbers and accounting principles. Accountants check out the company’s losses and profits and present the figures during a detailed thanks to allow the management to understand about how the organization is doing. They deal and cooperate with auditors in making audits of the corporate by providing them with the required figures and knowledge. Accountants review budgets, especially towards the top of the fiscal year, and confirm that the expenditures won’t deplete the organization’s coffers. They create sure that the company’s spending is in check. They manage the safekeeping and inputting of the company’s financial data into its systems. Any slight change from the first can jeopardize the whole company’s financial status. They recommend and apply the utilization of efficient and secure accounting software which will support the gathering and safekeeping of monetary data and therefore the creation of monetary reports. A bookkeeper typically occupies an edge below the company’s accountant and reports to the accountant.

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2. Why accounting practices should be standardized? Explain any three fundamental accounting concepts.


3. What are the major purposes of accounting information? How is information about earnings useful?


4. What do you mean by a balance sheet? Explain the various terms used in a balance sheet.


5. Write short notes on the following in about 150 words each:


a. Linkage between balance sheet and Profit and Loss account

b. Bad Debt

c. Operating Profit and Net Profit

d. Inventory Valuation

6. Why Finance is considered to be the backbone of business? Discuss the scope of financial management.


7. Define the term ‘Budget’. Explain the concept of Zero Base Budgeting.


8. What are the criteria for judging an investment proposal? Discuss two main methods of evaluating investment proposals.


9. What are the various forms of dividend? Describe the factors affecting dividend decisions.


10. Explain with suitable examples how you will manage Cash Flow in tourism business.


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MTTM 5 Solved Assignment 2021-22 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.


Dear Learner,

You have to submit one assignment in each course, i.e. MTTM 5, MTTM 5 and MTTM 6. All these are Tutor Marked Assignments (TMAs). Before attempting the assignments, please read the instructions provided in the Programme Guide carefully.

Kindly note, you have to submit these assignments to the Coordinator of your Study Centre within the stipulated time for being eligible to appear in the term-end examination. You must mention your Enrolment Number, Name, Address, Assignment Code and Study Centre Code on the first page of the assignment. You must obtain a receipt from the Study Centre for the assignments submitted and retain it. Keep photocopies of the assignments with you.

After evaluation, the assignments have to be returned to you by the Study Centre. Please insist on this and keep a record with you. The marks obtained by you will be sent by the Study Centre to the Student Evaluation Division at IGNOU, New Delhi.

Guidelines for Doing Assignments

There are five questions in each assignment, all carry equal marks. Attempt all the questions in not more than 500 words (each). You will find it useful to keep the following points in mind:

Planning: Read the assignments carefully. Go through the units on which they are based, make some points regarding each question and then rearrange them in a logical order

Organization and Presentation: Be analytical in your selection of the information for your answer. Give adequate attention to the introduction and the conclusion. Make sure that your answer is logical and coherent; has a proper flow of information.

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