Mgt101 Financial Accounting Solution

Question # 1

Mr. Omer started business on 1st January 2010 with Rs. 20,000 as capital. Below
mentioned are the transactions which took place in the month of January.

a) Opened bank account with Rs. 20,000.
b) Goods are purchased from Wasiq on credit for Rs. 10,000.
c) Sold goods on credit to Munir worth Rs. 1,500
d) Purchase goods on cash for Rs. 1,000.
e) Cash sales to Adnan worth Rs. 1,000.
f) Machinery purchased and made payment by cheque Rs. 6,700
g) Borrowed Rs. 3,000 from Munir.
h) Paid rent to Waris Rs. 100 for the building in which business is situated.
i) Paid salary to clerks Rs. 150.
j) Amir withdraw Rs. 500 for his personal use.

Fill this table after reading these instructions:
For easy application of the above mentioned rules take each transaction separately and
ask yourself the following question:-
a) Describe the nature of accounts affected in each transaction?(In this you have to
see Assets, Liabilities, expense, Income, Capital or equity)
b) Which of the item is to be debited or credited?
c) Give reasons of debit and credit.

.................

_____________________________________________________
Debit Bank 20,000 Assets
Credit Omer Capital Equity
______________________________________________________
Debit Purchases 10,000 Expenses
Credit Accounts Payables - Wasiq Liabilities
_______________________________________________________
Debit Accounts Recivables - Munir 1,500 Assets
Credit Sales Revenue Revenue
_______________________________________________________
Debit Purchases 1,000 Expenses
Credit Cash Assets
________________________________________________________
Debit Cash 1,000 Assets
Credit Sales Revenue Revenue
________________________________________________________
Debit Machinery 6,700 Assets
Credit Bank Assets
_________________________________________________________
Debit Cash 3,000 Assets
Credit Loan from Munir Liabilities
__________________________________________________________
Debit Rent expense 100 Expenses
Credit Cash Assets
___________________________________________________________
Debit Salaries 150 Expenses
Credit Cash Assets
___________________________________________________________
Debit Omer's Drawings 500 (Amir Or Omer ?) Equity
Credit Cash Assets
___________________________________________________________

...........................

Question # 2
State with reasons that whether the following items are capital or revenue:

a)Purchase of Land.
b)Installation of Plant and Machinery
c)Expenditure incurred during the erection of Machinery.
d)Commission paid to a worker.
e)Repair of truck met with an accident.
f)Repair charges of furniture.
g)Paid wages to factory workers.
h)Paid advertisement expense.

...........

Solution:

Revenue expenditure is that which a business incurs for the purposes of trade, or in maintaining
the earning capacity of non-current assets.

Capital expenditure, on the other hand, is for the purchase of non-current assets or an increase in the earning capacity of such assets.

a) Purchase of Land : Capital - non-current assets
b) Installation of Plant and Machinery : Capital - incurred to make the
machinery work.
c) Expenditure incurred during the erection of Machinery : Capital - incurred to make the
machinery work.
d) Commission paid to a worker : Revenue - incurred for the purpose
of trade
e) Repair of truck met with an accident : Revenue - incurred to restoration of
truck
f) Repair charges of furniture : Revenue - incurred to maintain the
use of furniture
g) Paid wages to factory workers : Revenue - incurred for the purpose
of trade
h) Paid advertisement expense : Revenue - incurred for the purpose
of trade.

VUsolutions

IT430 E-commerce solution

Q # 1

Click this image for LARGE view

Q2: Perform the conversions [5*2 = 10]

(a) 110 Decimal to Binary
2 110
2 55-0
2 27-1
2 13-1
2 6-1
2 3-0
2 1-1

Decimal to Binary
110 = 1101110

(b) 10011000 Binary to Decimal
2 0 *0+2 1 *0+2 2 *0+2 3 *1+2 4 *1+2 5 *0+2 6 *0+2 7 *1

= 0+0+0+8+16+0+0+128

= 152

(c) 11011100 Binary to Decimal
2 0 *0+2 1 *0+2 2 *1+2 3 *1+2 4 *1+2 5 *0+2 6 *1+2 7 *1

= 0+0+4+8+16+0+64+128

= 220

(d) 11111100 Binary to Decimal
2 0 *0+2 1 *0+2 2 *1+2 3 *1+2 4 *1+2 5 *1+2 6 *1+2 7 *1

= 0+0+4+8+16+32+64+128

= 252

(e) 3009 Decimal to Binary
2 3009
2 1504-1
2 752-0
2 376-0
2 188-0
2 94-0
2 47-0
2 23-1
2 11-1
2 5-1
2 2-1
2 1-0

MGT503 GDB solution

Out of Mintzberg’s three types of managerial roles, which do you think has become more important for new-style managers? Justify with solid reasons.

 

In my opinion "Informational roles" is very important for a manager..

 

According to Mintzberg (1975), different aspects of a manager's job cause managers at all levels to be involved in a series of interpersonal, informational, and decisional roles. In Mintzberg's view, receiving and communicating information is perhaps the most important aspect of a manager's job.

MGT503 GDB solution

Out of Mintzberg’s three types of managerial roles, which do you think has become more important for new-style managers? Justify with solid reasons.

 

In my opinion "Informational roles" is very important for a manager..

 

According to Mintzberg (1975), different aspects of a manager's job cause managers at all levels to be involved in a series of interpersonal, informational, and decisional roles. In Mintzberg's view, receiving and communicating information is perhaps the most important aspect of a manager's job.

MGT211 GDB solution

Discuss briefly scope of business organizations? Also give reasons why some organizations called as legal entities?

 

SCOPE OF BUSINESS ORGANIZATION

 

Sole Proprietorship

Partnership

Joint Stock Company

Cooperative Societies

Combination

 

Sole Proprietorship

Sole proprietorship is the oldest form of business organization which is owned and controlled by one person.

 

Partnership

“Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.”

 

Joint Stock Company

“A company is an incorporated association of persons formed usually for the pursuit of some commercial purposes”

 

Cooperative Societies

“Cooperation is an action of persons voluntarily united for utilizing reciprocally their own forces, resources or both under mutual management for their common profit or loss.”

 

Combination

“Combination is the association, temporary or permanent, of two or more firms.”

from VUsolutions

MGMT628 GDB solution

Discuss:

Is this true that organizations have to be constantly changing in order to remain stable? Comment in favor or against with solid arguments. Take into consideration the turbulent environment overall and Pakistani context specifically.

...........

If an organisation is an outcome of organising, then ‘organisational development’ refers to the developmental processes in organizations. It is important to recognise that whilst an organization refers to the outcomes of organising, there is never a static organization, a final organizational product as they are constantly in flux, constantly renewing, self-organising and being organised. To remain in any sense stable, an organisation is always changing, to quote the old proverb “ you cant step into a river twice” meaning that whilst a river looks stable and like a river, it is actually constantly in motion and changing. In the short-term the water itself is different each time we step in, and the river rises and falls pending on the sun, rain and season. In the long-term the shape of the river changes as it erodes the bank. Organisations are no different, we might imagine them as fixed, but actually they are in constant motion and often unstable. As social change and globalisation speeds up organizations are even less stable (note that the most stable of all organizations our banks collapsed with great speed in the financial crisis of 2009).

 

Organizations have to be constantly changing in order to remain stable, as Karl E. Weick says “what produced the stable outcome was continuous change not continuous repetition... the more things change the more they stay the same” (Karl E. Weick 2001:366). Because organizations are extremely diverse, OD consultants must learn that there is no magic formula, no single approach which covers everything. The first lessons to learn are (a) organizaitions are different and within organizations there is a lot of difference too, (b) Change is not something you introduce to a static organization, it is something to be understood, harnessed, influenced and directed.

 

Organisational Development means to work developmentally within organizations and to create a culture of developmental activity in organizations. This means to understand how change is happening in this organisation and then to influence it in a way in which the organization becomes a ‘learning organization’. To achieve this the OD consultant/manager needs to apply people skills with an understanding to organizational dynamics. Organizational dynamics involves people and technology, systems and processes, cyber space and physical space. Organizational development means to work in complex systems and networks which are self regulating, self-organizing but also rely on development activity. This takes place at meta-level and micro-levels. Small changes lead to big changes, and strategic and structural changes are all part of OD work.

 

Each organisation, and each part of an organization has particular characteristics and yet some organising principles are universal. For example, all workplace organisations consist of individuals, teams, cultures and organizing factors such as communication and IT systems, technology and humans and other business/organizational procedures and processes. There are both explicit and hidden processes in organizations, tacit knowledge and explicit knowledge. The art of an OD consultant is to be skilled at working across these boundaries, to take a holistic position, to think systemically, to work above and below the surface.  

Charges for Degree Issuance in advance before Convocation

VIRTUAL UNIVERSITY OF PAKISTAN

No. VU/A&P/0736

Dated: April 24, 2008

Notification

Subject: Charges for Degree Issuance in advance before Convocation

It is notified that a total fee or Rs.1,500/- will be charged for issuance of Degree in advance, before convocation, on request of a student. The fee is inclusive of all charges including courier charges. This notification will be implemented from the date of issuance.

Director Finance

Rules for CGPA improvement for VU Students after Pass out

Rules for CGPA improvement for VU Students after Pass out

1. A student may apply for CGPA improvement at least two weeks before the commencement of a Semester.

2. All “Passout” VU students of 2-year Bachelor, 4-year BS, Master (MCS/MIT/MBA) and Diploma holders can apply to improve CGPA.

3. A student, who intends to improve CGPA upon the completion of entire approved course work, may be allowed to repeat once the course (s) of the previous semesters in which he/she had secured the grade ‘C’ and/ or ‘D’ and to seek re-enrollment on prescribed fee.

4. VU candidates who received degree/diploma and/or its transcript upon the completion of entire approved course work can also improve CGPA by availing this rule; they are required to return their original degree/diploma and/or its transcript to VU examination department in order to apply for re-enrollment on prescribed fee. Students availing above mentioned rules are not entitled for any distinction or award from the university.

5. A student can enroll for maximum of 15 credit hours in a semester.

Fee Structure for CGPA improvement after Pass out

Study Program	FEE FOR LOCAL STUDENTS (Rs.)
	Master Program (MBA, MCS, MIT)	BS (4- year)	Bachelor (2-year)	Diploma in CS & IT, PGD in Business Admin.
Admission Fee	3000/-	2000/-	2000/-	2000/-
Semester Enrollment Fee	3000/-	3000/-	3000/-	3000/-
Per Credit hours Fee	670/-	475/-	520/-	615/-
FEE FOR OVERSEAS STUDENTS ($)
Admission Fee	50	50	50	50
Semester Enrollment Fee	50	50	50	50
Per Credit hours Fee	27	24	27	24

Note: After enrollment, the student will be charged fee on Per Credit Hours basis according to Degree/Diploma Program. Fee submitted once shall not be refunded.

Eng 201 Assignment No. 1 solution

Saturday, April 10, 2010

Sol Ass # 1 Eng 201

Assignment No.1 (Spring 2010)

Business and Technical English (Eng 201)

Total Marks: 15

 

Deadline

Students are strictly directed to submit their assignment before or by due date 13th April, 2010. (No assignment after due date will be accepted via e-mail)

 

Q1: A UK based multi-national company needs the services of highly competent MBA having at least five years of experience in marketing. If you think you qualify the said criteria and you have the skill to raise the graph of marketing of our company, send your CV to P.O Box 1122 before 23rd of this month. 10

.................

Name

v      Telephone

v      Email

v      Address

 

Profile

A brief synopsis of your career to date – i.e. Marketing Manager with 6 years experience in cross media marketing including 3 years solid online experience with expertise in:

 

B2B & B2C Marketing / Direct Marketing / Campaign Management / Market Research / Strategic Planning / Brand Development / Online / Trade Marketing

 

 

Key Skills & Experience

 

Skill 1 (e.g. B2B Marketing) – Skill description (e.g.) Management of B2B marketing campaigns aimed at supporting the sales team and increasing brand awareness amongst current and potential clients.

 

§                     Example 1 – Provide an example of a B2B marketing campaign you managed and the outcome.

§                     Example 2 -

 

Skill 2  – Skill description:

 

§                     Example 1

§                     Example 2

 

Skill 3   – Skill description:

 

§                     Example 1

§                     Example 2

 

 

Skill 4   – Skill description:

 

§                     Example 1

§                     Example 2

 

 

Skill 5   – Skill description:

 

§                     Example 1

§                     Example 2

 

 

Skill 6   – Skill description:

 

§                     Example 1

§                     Example 2

 

 

 

Employment History

 

Duration:                Month Year – Current

Company:              Company 1  www.company1.com.au

Position Title:        X

 

Position Overview

Write a brief outline of the position purpose and the position duties in paragraph form.

 

Key Achievements

o        Campaign 1 - Achievement 1

o        Campaign 2 - Achievement 2

o        Campaign 3 - Achievement 3

o        Campaign 4 - Achievement 4

o        Campaign 5 - Achievement 5

o        Campaign 6 - Achievement 6

 

 

Duration:                Month Year – Month Year

Company:              Company 2 – www.company2.com.au

Position Title:        X

 

Position Overview

Write a brief outline of the position purpose and the position duties in paragraph form.

 

Key Achievements

o        Campaign 1 - Achievement 1

o        Campaign 2 - Achievement 2

o        Campaign 3 - Achievement 3

o        Campaign 4 - Achievement 4

o        Campaign 5 - Achievement 5

o        Campaign 6 - Achievement 6

 

 

Duration:                Month Year – Month Year

Company:              Company 3 – www.company3.com.au

Position Title:        X

 

Position Overview

Write a brief outline of the position purpose and the position duties in paragraph form.

 

Key Achievements

o        Campaign 1 - Achievement 1

o        Campaign 2 - Achievement 2

o        Campaign 3 - Achievement 3

o        Campaign 4 - Achievement 4

o        Campaign 5 - Achievement 5

o        Campaign 6 - Achievement 6

 

 

Duration:                Month Year – Month Year

Company:              Company 4 – www.company4.com.au

Position Title:        X

 

Position Overview

Write a brief outline of the position purpose and the position duties in paragraph form.

 

Key Achievements

o        Campaign 1 - Achievement 1

o        Campaign 2 - Achievement 2

o        Campaign 3 - Achievement 3

o        Campaign 4 - Achievement 4

o        Campaign 5 - Achievement 5

o        Campaign 6 - Achievement 6

 

 

Education & Professional Development

 

Year         Qualification, Course, Institution.

Year         Qualification, Course, Institution.

Year         Qualification, Course, Institution.

 

 

References

References available upon request.

 

 

Q2: Differentiate between CV and résumé. 5

 

Difference between CV and Resume

You may have heard "curriculum vitae" being used to describe a resume. Although they are slightly different documents, some people use the terms inter-changeably. You may want to use a curriculum vitae (c.v.) if you are applying to a position which is academic or research-oriented. Many graduate students use a C.V. if they are applying to advanced programs or to employers such as those just mentioned.

 

Often referred to as a "vitae." A vitae is very similar to a resume. It highlights a speaker's education and key jobs held. A speaker in the academic community usually uses curriculum vitae. A special type of resume traditionally used within the academic community. Earned degrees, teaching and research experience, publications, presentations, and related activities are featured. Unlike a resume, a CV tends to be longer and more informational than promotional in tone.

 

The primary difference between a CV and a resume is the length and the purpose. A resume is a one or two page summary of your skills, experience and education. A goal of resume writing is to be brief and concise since, at best; the resume reader will spend a minute or so reviewing your qualifications.

 

A Curriculum Vitae, commonly referred to as CV, is a longer (two or more pages), more detailed synopsis. It includes a summary of your educational and academic backgrounds as well as teaching and research experience, publications, presentations, awards, honors, affiliations and other details.

A curriculum vitae, meaning "course of one's life, is a document that gives much more detail than does a resume about your academic and professional accomplishments.

 

When seeking a faculty, research, or leadership position at an academic or scientific organization, you need a special resume called curriculum vitae. Candidates who use a CV have an educational background directly related to the positions they seek, education is always featured first. Even after twenty years of research, your degrees and the schools where you earned them will overshadow your experience