NMIMS Solved Assignment Financial Accounting December 2025

NMIMS Solved Assignment Financial Accounting December 2025:  [Unique]
NMIMS Solved Assignment Financial Accounting December 2025 :

NMIMS Centre for Distance and Online Education (NCDOE)
Course: Financial Accounting
Internal Assignment Applicable for Dec 2025 Examination

Assignment Marks: 20
Instructions
PLEASE NOTE: This assignment is application based, you have to apply what you have
learnt in this subject into real life scenario. You will find most of the information through
internet search and the remaining from your common sense. None of the answers appear
directly in the textbook chapters but are based on the content in the chapter
Q1 A national retail chain is experiencing rapid growth, opening 50 new stores in a single
financial year and launching several promotional campaigns that offer deferred
payment options to customers. The finance team is struggling to determine the correct
timing for recognizing revenue from sales made under these promotions and matching
related expenses, as cash inflows and outflows do not always align with the delivery
of goods and services. The CFO is concerned that improper application of accounting
principles could distort the company’s reported profitability and mislead stakeholders.
Based on the scenario, how should the finance team at a rapidly expanding retail
chain apply the accrual and realisation concepts to ensure accurate revenue and
expense recognition during a period of aggressive store openings and promotional
campaigns?

Q2 (A) TechGen Inc., a leading technology company, recently undertook a comprehensive
review of its accounting practices for the fiscal year ending December 31, 2023. The
company meticulously followed each step of the accounting cycle, from recording
transactions in subsidiary books to preparing financial statements, with the goal of
improving transparency and regulatory compliance. However, the CFO is concerned
about potential gaps in the process that could affect stakeholder trust and is seeking
your critical assessment of their current approach. Critically evaluate TechGen Inc.’s
approach to ensuring accuracy and transparency in its accounting cycle, particularly
in the context of regulatory compliance and stakeholder trust. Considering the
multiple stages from transaction recording to financial statement preparation, what
improvements or alternative strategies could be justified to further enhance the
reliability of its financial reporting?

Q2 (B) From the following Trial Balance of Gupta & Sons for the years ended December 31,
2018, Prepare:
1. Trading Account
2. Profit & Loss Account
3. Balance Sheet as on that date
Name of the Account Debit Balances Credit Balances
Rs.
Capital 5,00,000
Sales 10,00,000
Sales Returns 25,000
Purchases 5,00,000
Purchases Returns 15,000
Inventory as on 1.1.18 60,000
Land & Buildings 4,00,000
Plant & Machinery 3,00,000
Furniture 1,00,000
Wages 50,000 –
Carriage Inwards 10,000
Provision for Bad Debts 7,000
Carriage Outwards 5,000
Cartage 5,000
Salaries 40,000
Loan 2,60,000
Debtors 1,50,000
Creditors 70,000
Rent 8,000
Bills Receivable 40,000
Acceptances 10,000
General Expenses 20,000
Rent & Rates 10,000
Investments 50,000
Cash in hand 50,000
Bank Overdraft 10,000
Discount 4,500
Bad Debts 5,000 –
Interest on Investments 5,000
Interest on Bank Overdraft 500
Goodwill 60,000
Total 18,85,000 18,85,000
Additional Information
1. The value of inventory on
December 31, 2018 was Rs. 1,00,000
2. Depreciation is to be provided on: Land & Building @ 5% p.a. Furniture @ 10% p.a.
Plant & Machinery Rs. 50,000.
3. Provision for Bad Debts is to be maintained @ 5% on debtors.
4. Wages are outstanding to the extent of Rs. 4,000 and Salaries to the extent of Rs. 3,000.
5. Rent and Rates are prepaid to the extent of 1/4th of the amount paid.
6. Interest on Investment
outstanding is Rs. . 1,000
7. Rent to the extent of Rs. 2,000 has been received in advance.