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Questions and Answers
What is the purpose of zero-based budgeting?
Which type of analysis involves breaking down return on equity (ROE) into its components?
In financial statement analysis, which ratio measures a company's ability to meet short-term obligations?
What is the primary focus of management accounting?
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Which costing method assigns all direct costs and a portion of indirect costs to each unit of production?
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What is the main focus of budget control?
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What type of costing includes both variable and fixed manufacturing costs in the cost of a product?
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Which pricing strategy focuses on covering all costs, both variable and fixed, to ensure a profit margin?
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What type of analysis helps in determining the level of sales needed to cover all costs and achieve zero profit?
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Which accounting principle focuses on recognizing revenue when it is earned regardless of when cash is received?
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Which cost classification represents costs that can be easily and conveniently traced to a specific cost object?
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Which standard costing tool compares actual costs to standard costs to identify differences and improve cost control?
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Study Notes
2nd PUC Accountancy Question Paper 2024: Key Topics and Concepts
As you prepare for the final board examination in Accountancy, it's essential to familiarize yourself with the subjects and concepts that are likely to be covered in the question paper. This article will provide an overview of the key topics from the Karnataka State Board of Secondary Education (KSEEB) 2nd PUC Accountancy syllabus for the year 2024, focusing on budgeting and forecasting, financial statement analysis, management accounting, financial accounting, and cost accounting.
Budgeting and Forecasting
- Budgeting as a planning tool
- Various types of budgets (operating, capital, and cash budgets)
- Zero-based budgeting and incremental budgeting
- Budget control, variance analysis, and budgetary control
- Budgetary planning in the context of sales revenue and expenses
- Budgetary control in the context of production and manufacturing
Financial Statement Analysis
- Interpretation of financial statements (Income Statement, Balance Sheet, and Cash Flow Statement)
- Common-size financial statements and horizontal and vertical analysis
- DuPont analysis
- Financial ratios (Liquidity, Solvency, Profitability, Activity, and Market Value)
- Calculating and interpreting ROI, ROCE, and ROA
- Financial statement analysis as a tool for business decision-making
Management Accounting
- Various costing methods (Direct, Overhead, and Absorption Costing)
- Variable Costing vs. Absorption Costing
- Contribution margin
- Full Cost Pricing and Marginal Cost Pricing
- Break-Even Analysis
- Cost-Volume-Profit Analysis
- Target costing and Standard Costing
- Budgetary control of costs
Financial Accounting
- Accounting concepts, principles, and assumptions
- Financial Accounting Standards Board (FASB) and International Financial Reporting Standards (IFRS)
- Financial accounting process and disclosure requirements
- Accounting for revenues, expenses, and gains/losses
- Accounting for assets and liabilities
- Accounting for investments, inventories, and depreciation
- Accounting for long-term liabilities and equity
Cost Accounting
- Cost behavior and classification
- Variable and fixed costs
- Direct and indirect costs
- Activity-based costing
- Standard Costing and Variance Analysis
- Cost volume profit analysis
- Budgetary control of costs
Remember to always practice problem-solving and apply these concepts to various scenarios to ensure a deeper understanding and better retention of the material. As you prepare for the exam, make sure to revise these topics regularly and seek help from your teachers or other resources if you find yourself having difficulty with any particular concept. Best of luck in your preparation!
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Description
Get an overview of the key topics from the Karnataka State Board of Secondary Education (KSEEB) 2nd PUC Accountancy syllabus for the year 2024, focusing on budgeting and forecasting, financial statement analysis, management accounting, financial accounting, and cost accounting. Prepare for the final board examination by understanding budgeting tools, financial ratios, costing methods, accounting standards, and more.
