MTTM 5 Solved Assignment 2021-22 , MTTM 5 Solved Assignment 2021-22 , MTTM 5 Assignment 2022 , FREE MTTM 5 Assignment , IGNOU Assignments 2021-22- Gandhi National Open University had recently uploaded the assignments of this session for MASTER OF TOURISM & TRAVEL MANAGEMENT for the year 2021-22. Students are recommended to download their Assignments from this webpage itself. They don’t need to go anywhere else when everything regarding the Assignments are available during this text only.
MTTM 5 Solved Assignment 2021-22 : for college kids –MTTM 5 ACCOUNTING AND FINANCE FOR MANAGERS IN TOURISM Solved Assignment 2021-22 , Students are advised that after successfully downloading their Assignments, you’ll find each and every course assignments of your downloaded. Candidates got to create separate assignment for the IGNOU Master Course, so as that it’s easy for Evaluators to ascertain your assignments.
MTTM 5 Solved Assignment 2021-22
Course Code: MTTM-5/MTM-5
Total Marks: 100
Assignment Code: MTTM 5/MTM 5/TMA/2021
Note: This TMA consists of ten questions, out of which you have to attempt any five. The question carries 20 marks each and should be answered in about 500 words. Send your TMA to the
Coordinator of your Study Centre.
1. Give an account of the various personnel working in the accounting department of an organisation. Explain the role and activities of an accountant. 20
An accountant plays a really crucial role in a corporation , no matter whether it’s a multinational company or alittle , domestic one. The inflow and outflow of the company’s money are closely monitored by the accountant, who also makes sure that each one financial transactions are legal, correct, which they went through the right channels. They work closely with bookkeepers to make sure that the company’s financial statements are so as .
Accountant vs Auditor
It is common to seek out people that are neither an accountant nor an auditor to be ready to differentiate between the 2 . Indeed, the 2 professions share tons of similarities, but they both also accompany several differences. allow us to discuss a number of these points within the following paragraphs. In most cases, an accountant may be a regular employee of a corporation or one who’s been hired by a corporation and pursues long-term employment. On the opposite hand, an auditor may are hired by a corporation from a service provider on a short-term or project basis so as to validate or substantiate the work done by the accountant. An auditor ideally shouldn’t have any connections with the corporate , to avoid biases. In reference to the point , the auditor doesn’t need a permanent space within the office block of the corporate who hired him, as he will got to move from department to department. the other goes for the accountant who keeps his own office, with other accountants on the team. It is the accountant’s responsibility to see the corporate ’s finances on a day to day and make financial reports at the top of the year so as to report back to the management the particular financial situation of the company and determine its strong and weak points. The auditor, on the opposite hand, is tasked to form sure that these figures are reasonably accurate. Hiring a corporation auditor is required for public companies or private companies with third-party interests (i.e., debt obligations) requiring them to undergo an audit. it’s optional for personal companies. Their work is about against auditing standards while that of accountants is regulated by international accounting standards.
Accountant vs Bookkeeper
Makes a record of each financial transaction entered into by a corporation every single day. it’s his job to process receipts, invoices, also as payments, and confirm that everything is listed down.
Makes a record of all assets and accounts payable or, in simpler words, the cash that goes into paying creditors and therefore the money that comes in from debtors. for instance , a customer who owes the corporate a selected amount monthly for 6 months are often anesthetize assets . Processes the payroll. it’s the work of the bookkeeper to take care of the payroll and confirm that every employee receives the precise amount that’s thanks to them. Keeps track of the company’s money, including all the expenses it makes, also as its earnings, on a day to day . the info is extremely important because, when compiled into reports, they describe the fiscal health of the corporate , and errors can cause poor reporting and bad decisions.
Responsibilities of an Accountant
The responsibilities of an accountant are numerous, and a few of them may overlap with those of the bookkeeper. during a nutshell, the accountant understands and interprets a company’s financial health through the mixture of his knowledge of numbers and accounting principles. Accountants check out the company’s losses and profits and present the figures during a detailed thanks to allow the management to understand about how the organization is doing. They deal and cooperate with auditors in making audits of the corporate by providing them with the required figures and knowledge . Accountants review budgets, especially towards the top of the fiscal year , and confirm that the expenditures won’t deplete the organization’s coffers. they create sure that the company’s spending is in check . They manage the safekeeping and inputting of the company’s financial data into its systems. Any slight change from the first can jeopardize the whole company’s financial status. They recommend and apply the utilization of efficient and secure accounting software which will support the gathering and safekeeping of monetary data and therefore the creation of monetary reports. A bookkeeper typically occupies an edge below the company’s accountant and reports to the accountant.
2. Why accounting practices should be standardized? Explain any three fundamental accounting concepts. 20
3. What are the major purposes of accounting information? How is information about earnings useful? 20
4. What do you mean by a balance sheet? Explain the various terms used in a balance sheet. 20
5. Write short notes on the following in about 150 words each: 5×4=20
a. Linkage between balance sheet and Profit and Loss account
b. Bad Debt
c. Operating Profit and Net Profit
d. Inventory Valuation
6. Why Finance is considered to be the backbone of business? Discuss the scope of financial management. 20
7. Define the term ‘Budget’. Explain the concept of Zero Base Budgeting. 20
8. What are the criteria for judging an investment proposal? Discuss two main methods of evaluating investment proposals. 20
9. What are the various forms of dividend? Describe the factors affecting dividend decisions. 20
10. Explain with suitable examples how you will manage Cash Flow in tourism business. 20
IGNOU MTTM 5 Solved Assignment 2021-22 : Gandhi National Open University had recently updated this session of 2021-22 MASTER OF TOURISM & TRAVEL MANAGEMENT assignments on their official university website. we’ve made your work easy by making the solved assignments directly on one portal so as that students can easily get the solved assignments in one go. Students are advised to download their MASTER OF TOURISM & TRAVEL MANAGEMENT IGNOU Assignments from this webpage itself with none hassle.
GUIDELINES FOR MTTM 5 Solved Assignment:-
You will find it useful to keep the following points in mind:
1. Planning: Read the questions carefully. Go through the units on which they are based. Make some points regarding each question and then rearrange these in a logical order. And please write the answers in your own words. Do not reproduce passages from the units.
2. Organisation: Be a little more selective and analytic before drawing up a rough outline of your answer. In an essay-type question, give adequate attention to your introduction and conclusion. The introduction must offer your brief interpretation of the question and how you propose to develop it. The conclusion must summarise your response to the question. In the course of your answer, you may like to make references to other texts or critics as this will add some depth to your analysis.
Please ensure the following before submitting your assignment :
1. Your enrolment number, name and address have been written correctly.
2. The title of the course and assignment number has been written clearly.
3. Each assignment on each course has been written on separate sheets and pinned properly.
4. All the questions in a particular section should be answered before attempting the next
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