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Tips before you proceed

  1. Stay calm.
  2. Read the Formulas, open the book and try to solve referring the book if you cant understand it properly
  3. Solve around 15-20 Sums, with or without looking
  4. Try your best to attempt Sums, since they have a higher chance of giving you marks
  5. There are few videos linked after formulas, try to watch them to get a clear understanding
  6. You can learn in under a day. Dont worry.
  7. If after all of this you feel you cant, then go for theory.
  8. There is theory available on the Site you can refer that

P.S I do not have any association or affiliation with any of the videos

Assets and Liabilities

Assets

Assets are things that the company owns. They are the resources of the company that have been acquired through transactions, and have future economic value that can be measured and expressed in dollars. Assets also include costs paid in advance that have not yet expired, such as prepaid advertising, prepaid insurance, prepaid legal fees, and prepaid rent.

Usually asset accounts will have debit balances.

Liabilities

Liabilities are obligations of the company; they are amounts owed to creditors for a past transaction and they usually have the word “payable” in their account title. They can also be thought of as a claim against a company’s assets.

Liabilities also include amounts received in advance for future services. Since the amount received (recorded as the asset Cash) has not yet been earned, the company defers the reporting of revenues and instead reports a liability such as Unearned Revenues or Customer Deposits.

Question Papers and Solved Sums


The Above Sums were made possible by Anirudh Iyer, Hasati Doshi, Raj Kapadia, Yachika Jain, Rishabh, Nishtha Bari, and Meha Pipalia. Big thanks to them.

Ratio Analysis

Formulas

Sums

Q1. April 2003

From the following Data, Calculate :

  • Current Ratio
  • Stock to Working Capital Ratio
  • Average Collection Period
  • Debtors Turnover Period

Solution

1. Current Ratio

2. Stock to Working Capital Ratio

3. Average Collection Period

4. Debtors Turnover Ratio

Q2. October 2003

From the following Data, Calculate :

  • Debtors Turnover Ratio
  • Stock to Working Capital Ratio
  • Current Ratio
  • Gross Profit Ratio

Solution

Solution

Q3. April, 2004

From the given balance sheet and additional information. Calculate the following ratio:

  • Proprietary Ratio
  • Debt Equity Ratio
  • Current Ratio
  • Debtors Turnover Ratio
  • Creditors Turnover Ratio

Credit Sales for the Year were ₹5,20,000

Credit Purchases amounted to ₹4,00,000

Solution

Vertical Balance Sheet

To get Assets, Liabilities, Funds, we have to make a Balance Sheet. Making this will get you good marks. If you want you can also do rough calculations to find out these figures

Q4. April 2011

  • Current Ratio
  • Debt Equity Ratio
  • Stock to Working Capital Ratio
  • Gross Profit Ratio
  • Net Profit Ratio
  • Debtors Turnover Ratio and Collection Period
  • Operating Ratio.

Solution


Sales Budget

Formulas

Product Wise

Product and Area Wise


Cash Budget

Formulas

Reference Video to Understand


Marginal Costing

Formulas

Working Note

Reference Video to Understand

Working Capital

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