Accounting and Cost Management paper (TEM 303/TM 301) from BUTEX's 2024 Level-3 Term-I finals. Includes ethical conduct codes for accountants, tabular transaction analysis with full financial statement preparation, and journal-ledger-trial balance problems.
Level-3 Term-I, Final Exám-2024
Subject: Accounting and Cost Management (Code: TEM 303/ TM 301)
Time: 3.0 Hrs. Full Marks: 72
(Use separate answer script for Part: A and Part: B)
(All parts of a question must be answered consecutively)
Part: A
(Answer any three questions)
1. (a) Define accounting. Who are the users of accounting information?
(b) Compare among proprietorship, partnership and corporation.
(c) Explain four basic codes of ethical conduct for management accountants.
[4+3+5=12]
2. (a) Why do taxing authority and external auditor require accounting information?
(b) Prepare a tabular analysis of the following transactions and prepare all the financial statements.
(i) Owner started a new business with cash $ 20,000. | (v) Undertaken a loan for $ 30,000 from a bank. |
(ii) Factory sales center is on rent and paid for $ 800. | (vi) Sold products to retailers for $ 6,000 which will be received in next month. |
(iii) Purchased machineries on credit for $ 12,000. | (vii) Paid monthly expenses for $ 3,500 as pre utility cost. |
(iv) Sold products to customer for $ 2,500. | (viii) Owner withdrew $ 2,000 as monthly basis. |
[2+10=12]
3. (a) Assume a compound transaction statement and show in journal format.
(b) Prepare journal, ledger and trial balance for below transactions.
Aug 3. Invested $ 2,500 cash in computer service company. | Aug 5. Appointed 4 software engineers for next 3 years for salary of $ 3,000 each. |
Aug 10. Paid office rent for $ 350. | Aug 16. Applied for a Bank loan for $ 18,000. |