MTTM 5 Solved Assignment 2021-22
MTTM 5 Solved Assignment 2021-22
ACCOUNTING AND FINANCE FOR MANAGERS IN TOURISM
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.
20
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.
2. Why
accounting practices should be standardized? Explain any three fundamental
accounting concepts.
20
3. What
are the major purposes of accounting information? How is information about
earnings useful?
20
4. What
do you mean by a balance sheet? Explain the various terms used in a balance
sheet.
20
5. Write
short notes on the following in about 150 words each:
5x4=20
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.
20
7.
Define the term ‘Budget’. Explain the concept of Zero Base Budgeting.
20
8. What
are the criteria for judging an investment proposal? Discuss two main methods
of evaluating investment proposals.
20
9. What
are the various forms of dividend? Describe the factors affecting dividend
decisions.
20
10.
Explain with suitable examples how you will manage Cash Flow in tourism
business.
20
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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.
POST GRADUATE DIPLOMA IN AUDIO PROGRAMME PRODUCTION Master’s
Degree Programmes (MASTER’S IN TOURISM MANAGEMENT (MTM/MTTM) ASSIGNMENTS
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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