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Graded Discussion Board (GDB) Financial Statement Analysis (FIN621) Spring 2016 Due Date 11th, May 2016

Learning Objectives

  • To develop students’ understanding on differentiating between expense and expenditure.
  • To enable students to understand the concept of accrued expenses and revenues.

 

Learning Outcomes:

After attempting this GDB, students will be able to understand:

  • The difference between expense and expenditure.
  • The concept of accrued expenses and revenues.

 

Suppose you appear in an interview for the position of assistant to manager finance in a XYZ company. The interview panel expects you to answer some of the basic questions. First the panel gives you a scenario to differentiate between the expense and expenditure with logical explanation. And the scenario is that:

 

Assume that a company purchases equipment of worth Rs. 755,500. Expecting that the equipment will have a useful life of ten years, the cost of equipment under the straight line method of depreciation will be reported as Rs.207 per day for next 3,650 days.

 

Another question from the panel is that you need to discuss that why the following items are considered accruals?

  • Salaries payable
  • Interest payable
  • Interest revenue
  • Accounts receivable

Important Instructions:

  1. Your discussion answer must be logical. Avoid lengthy arguments and try to be concise in your answer.
  2. Do not copy or exchange your answer with other students. Two identical / copied comments will be marked Zero (0) and may damage your grade in the course.
  3. Obnoxious or ignoble answer should be strictly avoided.
  4. Questions / queries related to the content of the GDB, which may be posted by the students on MDB or via e-mail, will not be replied till the due date of GDB is over.

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Replies to This Discussion

ANy one here to discuss please? 

mujy bi yi hy lagta h k kisy ko bi yi gdb ny ata ya koi discuss ny krna chahta plz yar koi to discuss kro

nobody solved yet....................

anyone here koi accounts ka student nahi hai yahan ... 

Please Discuss here about this GDB.Thanks
Our main purpose here discussion not just Solution
We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions.

FIN621 solution may 2016

Part1Solution: 
An expense is a cost that has expired, was used up, or was necessary in order to earn the revenues during the time period indicated in the heading of the income statement
The expenditure may be for the purchase of an asset, a reduction of a liability, a distribution to the owners, or it could be an expense.
Expenditure are required to increase asset while expanses are used to maintain the assets.
So in the light of it, in this given scenario, the equipment worth is expenditure & the depreciation cost will be treated as expense.
Part 2 Solution: 
As we know the accrued expenses are those expense which become liability but not yet paid. On the other hand, the accrued revenue are those which become our income but not yet received.
So in the light of it, the given four items are considered accruals.

Thank You sir ...

+ M.Tariq Malik Sir plzzz post FIN 623 GDB as well ...THanks

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