EDu Tutorial: August 2017

Thursday 17 August 2017

PCO SOLVED ASSIGNMENT 2017

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TUTOR MARKED ASSIGNMENT
Course Code    : PCO – 01 Course Title    : Preparatory Course in Commerce Assignment Code   : PCO – 01/TMA/2017 Coverage    : All Blocks

Maximum Marks: 100
Q 1.   What do you mean by business? Explain various parties who assist in the flow of goods from producer to consumers.
Q2. What do you understand by ‘Double Entry System’? How is it different from ‘Single Entry System’? Discuss.
Q3. From the following transactions, determine the accounts affected, classify them and state whether it is to be debited or credited.                                  Rs.
a Purchased typewriter for cash 10,000 b Purchased furniture form R & Co. on credit 55,000 c Interest received 5,00 d Paid wages 1,000 e Received cash from ‘A’ 15,00 f Additional capital introduced in to the business 5,00,000 g Paid cash to ‘B’ 2,000 h Paid carriage 5,00 i Purchased goods from F & Co. on credit 10,000 j Sold goods for cash 2,000

Q4. What is Trial Balance? How is it prepared? Explain.
Q5. What are the advantages of maintaining a Petty Cash Book? Explain.
Q6. Explain the procedure of preparing a Bank Reconciliation Statement. State various reasons of disagreement between the balances shown by the Cash Book and the Pass Book.
Q7. How would you determine whether a particular expenditure is capital or revenue? Give five examples of each.
Q8. Differentiate between the following:
(a) Gross Profit and Net Profit
(b) Direct Expenses and Indirect Expenses
Q9. What are one sided errors? Give any five examples. Explain the method of rectifying one-sided errors.
Q10. From the following Trial Balance of Sh Ved Vyas, prepare Trading and Profit & Loss Account for the year ended 31st December, 2015 and Balance Sheet as on that date:

Dr. Rs. Cr. Rs. Purchases and Sales 2,75,000 5,20,000 Returns Inwards 15,000 Returns Outwards   9,000 Carriage 12,400 Wages and Salaries 58,600 Trade Expenses 2,200 Rent   13,000 Insurance 2,000 Audit Fees 1,200 Debtors and Creditors 1,10,000 62,100 B/R and B/P 3,300 2,200 Printing and Advertising 5,500 Commission   1,000 Opening Stock 36,000 Cash in hand 12,800 Cash at Bank 26,800 Bank Loan 20,000 Interest on Loan 1,500 Capital   2,50,000 Drawings 15,000 Fixed Assets 3,00,000   8,77,300 8,77,300   Adjustments:-
1. Stock at the end Rs. 60,000
2. Depreciate Fixed Assets by 10%
3. Commission earned but not received amounts to Rs. 400
4. Rent received in advance Rs. 1,000
5. Allow 8% interest on Capital and charge Rs. 900 as interest on Drawings.

Accountancy/Book keeping/Accounting

Accountancy:

Accountancy refers to a systematic knowledge of accounting. It explains ‘why to do’ and ‘how to do’ of various aspects of accounting. It tells us why and how to prepare the books of accounts and how to summarize the accounting information and communicate it to the interested parties.

Book keeping:

Book- keeping includes recording of journal, posting in ledgers and balancing of accounts. All the records before the preparation of trail balance is the whole subject matter of book- keeping. Thus, book- keeping many be defined as the science and art of recording transactions in money or money’s worth so accurately and systematically, in a certain set of books, regularly that the true state of businessman’s affairs can be correctly ascertained. Here it is important to note that only those transactions related to business are recorded which can be expressed in terms of money.

Book- keeping is the science and art of correctly recording in books of account all those business transactions that result in the transfer of money or money’s worth”. R.N.Carter

Objectives of Book- keeping:

i) Book- keeping provides a permanent record of each transaction.

ii) Soundness of a firm can be assessed from the records of assets and abilities on a particular date.

iii) Entries related to incomes and expenditures of a concern facilitate to know the profit and loss for a given period.

iv) It enables to prepare a list of customers and suppliers to ascertain the amount to be received or paid.

v) It is a method gives opportunities to review the business policies in the light of the past records.

vi) Amendment of business laws, provision of licenses, assessment of taxes etc., are based on records.

Accounting:

American Institute of Certified Public Accountants (AICPA) which defines accounting as “the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events, which are, in part at least, of a financial character and interpreting the results thereof”.

Objective of Accounting

Objective of accounting may differ from business to business depending upon their specific requirements. However, the following are the general objectives of accounting.

i) To keeping systematic record: It is very difficult to remember all the business transactions that take place. Accounting serves this purpose of record keeping by promptly recording all the business transactions in the books of account.

ii) To ascertain the results of the operation: Accounting helps in ascertaining result i.e., profit earned or loss suffered in business during a particular period.

iii) To ascertain the financial position of the business: In addition to profit, a businessman must know his financial position i.e., availability of cash, position of assets and liabilities etc. This helps the businessman to know his financial strength. Financial statements are barometers of health of a business entity.

iv) To portray the liquidity position: Financial reporting should provide information about how an enterprise obtains and spends cash, about its borrowing and repayment of borrowing, about its capital transactions, cash dividends and other distributions of resources by the enterprise to owners and about other factors that may affect an enterprise’s liquidity and solvency.

v) To protect business properties: Accounting provides upto date information about the various assets that the firm possesses and the liabilities the firm owes, so that nobody can claim a payment which is not due to him.

Methods of Accounting

Business transactions are recorded in two different ways.

* Single Entry

*Double Entry

Single Entry: It is incomplete system of recording business transactions. The business organization maintains only cash book and personal accounts of debtors and creditors. So the complete recording of transactions cannot be made and trail balance cannot be prepared.

Double Entry: In this system every business transaction is having a twofold effect of benefits giving and benefits receiving aspects. The recording is made on the basis of both these aspects. Double Entry is an accounting system that records the effects of transactions and other events in at least two accounts with equal debits and credits.

Gender stereotypes

Gender stereotypes

These are one-sided and exaggerated images of men and women which are deployed repeatedly in everyday life. They are found commonly in the mass media because they operate as a widely understood shorthand. Sociologists often see stereotyping as part of the process by which children are socialized into sex roles and by which adults and children are denied opportunities for more individually varied development.

A man might say women aren't meant for combat, while a woman might say men do nothing but watch sports. Such expressions represent gender stereotypes, which are over-generalizations about the characteristics of an entire group based on gender. While women were barred from serving in military combat in Western nations until the latter half of the 20th century, in recent times they have served in combat roles as capably as men. And while many men may watch sports, not all men would necessarily do so.

Gender stereotypes can have negative connotations, like those above, but they can also have positive connotations, even though they're often over-generalized. For instance, the notion that women are better caregivers than men is a positive connotation, but it is a generalization and not necessarily true in all cases. This is similarly so for the notion that men are better providers than women, which while positive, can be disproved by looking at cases where men have abandoned their families and defaulted on child support.

An assignment on Inclusive Education

Rajib Deb

Q. Define Inclusive Education. What are the conducive learning environments for inclusive setup in schools?

Answer:

Inclusive education means that all students attend and are welcomed by their neighbourhood schools in age-appropriate, regular classes and are supported to learn, contribute and participate in all aspects of the life of the school. It is an approach to educating students with special educational needs.

Inclusive education is about how we develop and design our schools, classrooms, programs and activities so that all students learn and participate together.

All children benefit from inclusive education. It allows them to:

· Develop individual strengths, with high and appropriate expectations for each child.

· Work on individual goals while participating in the life of the classroom with other students.

· Involve their parents in their education and in the activities of their local schools.etc

Creating a conducive learning environment:

Learning takes place within a web of social relationships as teachers and pupils interact both formally and informally. Schools are institutional spaces for communities of learners, including both students and teachers. Education to be effective in schools, the environment needs to be conducive to learning, allowing the pupils space and time to interact within the learning and teaching process. organization,

Despite the fact that socio-economic conditions, gender and culture, influence students’ learning for good or bad, teachers can play a vital role in creating a positive classroom environment and enhancing the performance of students.

Physical and socio-cultural environments affect students’ learning for better or worse. It is in the hands of an effective teacher to turn environmental disadvantages into advantages. Teachers can make a substantial difference in creating a conducive learning environment in the class room for all children.

Conducive learning environment includes the following:

i) Accessibility to resources:

Given that there are only limited resource materials needed for instruction in a classroom, teachers must ensure that chalks, charts, models, equipment for demonstration etc are made available to students in every session. All along, ensuring the accessibility of resource materials teachers must also ensure that teaching-learning activities conducted in the classroom is visible and audible to all. The spatial arrangement of the classroom must be taken care of in order to achieve the goals of accessibility, audibility and visibility.

ii) Inclusive setting:

Disability is never a deficiency, it becomes so when society fails to create a favourable environment for them to learn and progress. Teachers must never put up an attitude of deficiency before the students, particularly to the disabled. They must rather create an inclusive environment in the classroom in which all students feel at home, gather in self-confidence and be able to develop on their innate talents. Teachers must nurture the students’ talents to bloom rather than diminish their enthusiasm in the initial stages.

iii) Instructional techniques:

Teachers should use adequate instructional techniques in line with the socio-cultural characteristics of learners, which in turn will influence their learning. Instructional strategies that favour the learning needs of children should be acquired and implemented as part of the curriculum to boost their academic performance. Different instructional methods like cooperative learning, peer tutoring, mastery learning etc. can be included as per the learning requirements of students. Depending on the need and temperament of each student, teachers must be flexible with their instructional tactics so as to set all the students equally on the path of learning.

iv) Acceptance and tolerance:

Creating a positive atmosphere of learning in schools and classrooms will also depend a lot on the ability of teachers to establish a culture of mutual respect and understanding among the students. It is important that the students are trained in the academy of acceptance and tolerance for one another. They are to be taught not to laugh at or make fun of those making mistakes. Class schedules and activities are to be planned in such a way as to promote mutual respect and appreciation among the students. Mutual appreciation and tolerance go a long way in defining a healthy and constructive classroom environment.

v) Social relationships:

Another feature of a conducive classroom environment is proactive and encouraging social relationship. Student should be able to work with others in group to complete tasks, engage with others in project works and get along with everyone else in an easy manner enhancing and nourishing the learning experience of every other student.

vi) Allow for Enough Space:

Space is very important if the teacher wants the young children to be comfortable in the classroom. It is important that there is a space wide enough for mobility among the children especially because young children need a wide space for playing. The classroom must be free from clutter to avoid accidents. A room that is cluttered will make the children uneasy and suffocated. Not only that, a cluttered room could cause accident. A good classroom for young children is a room free from any objects that may cause them danger.

vii) Make the Classroom a Home for the Kids:

The school is the second home of the children and the teacher their second mother. As a second mother, the teacher must treat the children like her children. This includes the teacher's initiative to make the children feel at home in her classroom. If the teacher is able to provide a second home to the kids then the children will have a better learning progress. The teacher's approach in dealing with the kids will further enhance effective learning so it is very important for the teacher to properly deal with the kids.

viii) Set a friendly environment:

No matter what level we are teaching, whether we are teaching young kids or we are teaching students who are in their teens, it is important that you create a friendly atmosphere. In order to create a friendly atmosphere, it must start from you as a teacher. Greeting and smiling to the students is the best way to create a friendly atmosphere. If we set a good example to the students; they will imitate us and the classroom will be a friendly environment for students. Have time to talk to the students and build a bond that will help us carry on an effective learning process.

So in conclusion we can say that despite the fact that socio-economic conditions, gender and culture, influence students’ learning for good or bad, teachers can play a vital role in creating a positive classroom environment and enhancing the performance of students.