NCERT Solution For Class 12 Accountancy Chapter 4 - Analysis of Financial Statements

NCERT Solutions are said to be an extremely helpful book while preparing for the CBSE Class 12 Accountancy examinations. This study material owns a deep knowledge and the Solutions collected by the subject matter exerts are no distinct.

NCERT Solution For Class 12 Accountancy Chapter 4 – Analysis Of Financial Statements furnishes us with an all-inclusive data to all the concepts. As the students would have learnt the basic fundamentals about the subject of accountancy in class 11, this curriculum for class 12 is a continual part of it; which explains the concepts in a great way.

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Access the solution for class 12 Accountancy Chapter 4 – Analysis Of Financial Statements

Short Questions for NCERT Accountancy Solutions Part 2 Class 12 Chapter 4

1. List the techniques of Financial Statement Analysis.

Most commonly used techniques are:

1. Common Size Financial Statements

2. Trend Analysis

3. Comparative Financial Statements

4. Cash Flow Statement

5. Fund Flow Statement

6. Ratio Analysis 

 2. Distinguish between Vertical and Horizontal Analysis of financial data.

Basis of Comparison

Horizontal Analysis

Vertical Analysis

Meaning

It is the comparative evaluation of a financial statement of two or more periods, for calculating relative and absolute variances for every line of item

It is the analysis of financial data which is independent of time and items relating to financial information of company and its impact on the performance of the company.

Purpose

To specify changes in financial performance between two comparable accounting periods

To compare a financial item as a percentage of base figure

Comparison of

Intra-firm comparison

Both intra and inter firm comparison

Usefulness

Growth or decline of an item is represented here

Is useful in predicting and determining the relative proportion of an item of the financial statement to a common item in the financial statement

3. State the meaning of Analysis and Interpretation.

It is a critical and systematic examination of the financial statement. It presents the financial data in a systematic manner and also establishes a cause and effect relationship with all the items of financial statements. Analysis and interpretation is all about presenting financial data which is self-explanatory and easy to understand. It helps users of accounting information in assessing the status of financial performance of the business for a time period and enables them to take proper decision regarding finance policy of the firm.

 

 

 4. State the importance of Financial Analysis?

Financial analysis is of great importance for the various users of accounting information. Financial statements such as Balance Sheets, Income sheets and other sources of financial data provide ample information on the various expenses and sources of profit, loss and income which is helpful in determining the financial status of a business. Financial data is not making any meaningful contribution until it is analysed. There are various methods which help in analysing financial statement and make it useful for various accounting users.

Following reasons are essential for performing financial analysis:

1. It is very helpful in determining the financial viability and profit earning capacity of the firm.

2. It is helpful in evaluating the business solvency in the long term

3. It is useful in comparing the financial status of a firm in comparison to other competitor firms

4. It helps management in decision making, drafting plan and also establish a robust and effective control mechanism

5. What are Comparative Financial Statements?

Comparative financial statements refer to statements which enable comparison that is both intra and inter firm and is based over a period of time. These statements help various users of accounting information in evaluating financial progress of a firm in relative terms. These statements express the data in absolute figures or as percentage change and absolute change that occurs in the item of the financial statement over a period of time. The data presented in financial statements are self-explanatory and easy to understand. When items of the financial statement are treated with the same accounting policies and practices over a fixed period of time, then the comparative data derived from such statements bear meaningful comparisons.

Two common types are:

1. Comparative Income Statement

2. Comparative Balance Sheet

6. What do you mean by Common Size Statements?

Common Size Statements are those statements where the items are displayed as percentages of a common base figure instead of absolute figures. It is helpful for proper analysis between companies (inter-firm comparison) or between time periods of the same company (intra-firm comparison). In these statements the relationship between items present in financial statements and common items like balance sheet total and net sales are highlighted in percentage. The analysis based on these statements is called as Vertical Analysis.

Two types are:

1. Common Size Income Statements

2. Common Size Balance Sheet

Long Questions for NCERT Accountancy Solutions Part 2 Class 12 Chapter 4

1. Describe the different techniques of financial analysis and explain the limitations of financial analysis.

Following different techniques are used for financial analysis:

1. Cash Flow Analysis: This analysis focuses on the inflow and outflow of cash and cash equivalents from the various activities of a business namely, investing, operating and financing activities during an accounting period. This helps in analysing cash payments and reason of receipt and the respective changes in cash balances during the accounting year.

2. Ratio Analysis: This method highlights the relationship between items of Balance Sheet and Income Statements. It is helpful in determining efficiency, profitability and solvency of a firm. This analysis expresses the financial items as fraction, percentage or proportion. Also, it determines the qualitative relationship among different financial variables. It also serves as a source of information regarding the performance, viability and financial position of a firm.

3. Trend Analysis: This technique studies the trends in operating performance and financial position of the business over a period of many years in succession. In such study, any particular year is considered as base year and the rest years are expressed as percentage of the base year’s figures. It helps in identifying problems and inefficiency along with detecting operating efficiency and financial position of the firm.

4. Comparative Statements: These statements use figures from two accounting periods that helps determine financial position and profitability. It also enables to do intra and inter firm comparison and therefore determine the efficiency of firm in relative terms. It uses both percentage as well as absolute terms. This analysis is known as Horizontal analysis.

5. Common size Statements: Common Size Statements are those statements where the items are displayed as percentages of a common base figure instead of absolute figures. It is helpful for proper analysis between companies (inter-firm comparison) or between time periods of the same company (intra-firm comparison). In these statements the relationship between items present in financial statements and common items like balance sheet total and net sales are highlighted in percentage. The analysis based on these statements is called as Vertical Analysis.

It has following limitations:

1. It fails to depict changes in accounting policy and procedures

2. These statements provide the interim report and hence have incomplete information.

3. These statements lack the qualitative aspect like growth prospects, managerial efficiency and express only in monetary terms

4. Financial analysis is based on accounting concepts and conventions and hence are not reliable as it does not take the current market value of items.

5. It involves personal biasness and judgements of the accountant for example in case of depreciation different methods can be charged for same item.

6. It does not take into account the change in price level. Only nominal values are considered.

2. Explain the usefulness of trend percentages in interpretation of financial performance of a company.

Trend analysis is a form of analysing financial data and it is expressed as percentage for each year. It helps the accounting user in evaluating financial performance of the business and also form opinion of various tendencies by which businesses can predict future trends.

Importance of trend analysis:

1. Predicting of the trends of business which is forecasting of future trends in business.

2. Trends are expressed as percentages which is less time consuming and easy to follow.

3. It becomes a popular financial analysis method due to trends being expressed in percentages which makes evaluating financial performance and operating efficiency of the firm relatively simpler.

4. It presents a broader picture of the performance of company in terms of finance, viability and efficiency.

3. What is the importance of comparative statements? Illustrate your answer with particular reference to comparative income statement.

Comparative statements have the following importance:

1. It presents financial data in a simple form, with year wise data being presented in side by side fashion making the presentation neat and enabling intra and inter-firm comparisons more conclusive.

2. Presentation is very effective for drawing insights quickly and easily

3. It assists the management in drafting future plans and forecast trends which is acheived by analysing profitability and operating efficiency of a business over time.

4. Comparative analysis helps easy detection of problems. Early detection helps take corrective measures and align the business in meeting the desired target.

4. What do you understand by analysis and interpretation of financial statements? Discuss its importance.

Financial analysis is of great importance for the various users of accounting information. Financial statements such as Balance Sheets, Income sheets and other sources of financial data provide ample information on the various expenses and sources of profit, loss and income which is helpful in determining the financial status of a business. Financial data is not making any meaningful contribution until it is analysed. There are various methods which help in analysing financial statement and make it useful for various accounting users.

Following reasons are essential for performing financial analysis:

1. It is very helpful in determining the financial viability and profit earning capacity of the firm.

2. It is helpful in evaluating the solvency of the business in the long term

3. It is useful in comparing the financial status of a firm in comparison to other competitor firms

4. It helps management in decision making, drafting plan and also in establishing a robust and effective control mechanism

5. Explain how common size statements are prepared giving an example.

Common size statements are of two types:

1. Common Size Income Statements

2. Common Size Balance Sheet

Common size statement is prepared as columnar form for performing analysis. In such a statement each item of the available financial statement is compared to a common item. Such analysis is called as vertical analysis.

Following columns are present:

1. Particulars: It shows the various financial item under each respective headings

2. Amount Columns: Under these columns the amount of each item is depicted along with sub-totals and gross total of a particular year.

3. Percentage/Ratio Columns: Under these columns the proportion of each item is shown as percentage or ratio with reference to common item.

It is prepared in following two ways:

Class 12 Chp 4-1

Following example will help get a better understanding of the preparation

Class 12 Chp 4-2

Class 12 Chp 4-3

Working Note:

Class 12 Chp 4-4

For example,

Class 12 Chp 4-5

 

Numerical Questions for NCERT Accountancy Solutions Part 2 Class 12 Chapter 4

1. Following are the balance sheets of Alpha Ltd. as at March 31st, 2016 and 2017:

Particulars

2016
₹.

2017
₹.

I. Equity and Liabilities

 

 

Equity share capital

2,00,000

4,00,000

Reserves and surplus

1,00,000

1,50,000

Long-term borrowings

2,00,000

3,00,000

Short-term borrowings

50,000

70,000

Trade payables

30,000

60,000

Short-term provisions

20,000

10,000

Other current liabilities

20,000

30,000

Total

6,20,000

10,20,000

II. Assets

 

 

Fixed assets

2,00,000

5,00,000

Non-current investments

1,00,000

1,25,000

Current investments

60,000

80,000

Inventories

1,35,000

1,55,000

Trade receivables

60,000

90,000

Short term loans and advances

40,000

60,000

Cash at bank

25,000

10,000

Total

6,20,000

10,20,000

 

 

 

Comparative Balance Sheet

as on March 31, 2016 and 2017

Particulars

2016

(₹)

2017

(₹)

Absolute Change

Percentage Change

I. Equity and Liabilities

 

 

 

 

1. Shareholder’s Fund

 

 

 

 

a. Equity Share Capital

2,00,000

4,00,000

2,00,000

100

b. Reserves and Surplus

1,00,000

1,50,000

50,000

50

2. Non-Current Liabilities

 

 

 

 

a. Long Term Borrowings

2,00,000

3,00,000

1,00,000

50

3. Current Liabilities

 

 

 

 

a. Short Term Borrowings

50,000

70,000

20,000

40

b. Trade Payables

30,000

60,000

30,000

100

c. Short Term Provisions

20,000

10,000

(10,000)

(50)

d. Other Current Liabilities

20,000

30,000

10,000

50

Total

6,20,000

10,20,000

4,00,000

64.5

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets

2,00,000

5,00,000

3,00,000

150

b. Non Current Investments

1,00,000

1,25,000

25,000

25

2. Current Assets 

 

 

 

 

a. Current Investments

60,000

80,000

20,000

33.3

b. Inventories

1,35,000

1,55,000

20,000

14.8

c. Trade Receivables

60,000

90,000

30,000

50

d. Short Term Loans and Advances

40,000

60,000

20,000

50

e. Cash and Cash Equivalents

25,000

10,000

(15,000)

(60)

Total

6,20,000

10,20,000

4,00,000

64.5

 

 

 

 

 

2. Following are the balance sheets of Beta Ltd. at March 31st, 2016 and 2017:

Particulars

2017
₹.

2016
₹.

I. Equity and Liabilities

 

 

Equity share capital

4,00,000

3,00,000

Reserves and surplus

1,50,000

1,00,000

Loan from IDBI

3,00,000

1,00,000

Short-term borrowings

70,000

50,000

Trade payables

60,000

30,000

Short-term provisions

10,000

20,000

Other current liabilities

1,10,000

1,00,000

Total

11,00,000

7,00,000

II. Assets

 

 

Fixed assets

4,00,000

2,20,000

Non-current investments

2,25,000

1,00,000

Current investments

80,000

60,000

Stock

1,05,000

90,000

Trade receivables

90,000

60,000

Short term loans and advances

1,00,000

85,000

Cash and cash equivalents

1,00,000

85,000

Total

11,00,000

7,00,000

 

 

 

Comparative Balance Sheet

as on March 31, 2016 and 2017

Particulars

2016

(₹)

2017

(₹)

Absolute Change

Percentage Change

I. Equity and Liabilities

 

 

 

 

1. Shareholder’s Fund

 

 

 

 

 a. Equity Share Capital

3,00,000

4,00,000

1,00,000

33.3

 b. Reserves and Surplus

1,00,000

1,50,000

50,000

50

2. Non-Current Liabilities

 

 

 

 

a. Long Term Borrowings

(Loan from IDBI)

1,00,000

3,00,000

2,00,000

200

3. Current Liabilities

 

 

 

 

 a. Short Term Borrowings

50,000

70,000

20,000

40

 b. Trade Payables

30,000

60,000

30,000

100

 c. Short Term Provisions

20,000

10,000

(10,000)

(50)

 d. Other Current Liabilities

1,00,000

1,10,000

10,000

10

Total

7,00,000

11,00,000

4,00,000

57.14

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

 a. Fixed Assets

2,20,000

4,00,000

1,80,000

81.8

 b. Non Current Investments

1,00,000

2,25,000

1,25,000

125

2. Current Assets

 

 

 

 

 a. Current Investments

60,000

80,000

20,000

33.3

 b. Inventories (Stock)

90,000

1,05,000

15,000

16.6

 c. Trade Receivables

60,000

90,000

30,000

50

 d. Short Term Loans and Advances

85,000

1,00,000

15,000

17.65

 e. Cash and Cash Equivalents

85,000

1,00,000

15,000

17.65

Total

7,00,000

11,00,000

4,00,000

57.14

 

 

 

 

 

3. Prepare Comparative Income Statement from the following information:

Particulars

2016-17
₹.

2015-16
₹.

Freight Outward

20,000

10,000

Wages (office)

10,000

5,000

Manufacturing Expenses

50,000

20,000

Stock adjustment

(60,000)

30,000

Cash purchases

 80,000

60,000

Credit purchases

 60,000

20,000

Returns inward

 8,000

4,000

Gross profit

(30,000)

90,000

Carriage outward

20,000

10,000

Machinery

3,00,000

2,00,000

Charge 10% depreciation on machinery

10,000

5,000

Interest on short-term loans

20,000

20,000

10% debentures

20,000

10,000

Profit on sale of furniture

20,000

10,000

Loss on sale of office car

90,000

60,000

Tax rate

40%

50%

Comparative Income Statement

for the year ended March 31, 2016 and 2017

Particulars

Note

No.

2015-16

(₹)

2016-17

(₹)

Absolute 

Change
(₹)

Percentage

Change

1. Revenue from Operations

 

2,16,000

92,000

(1,24,000)

(57.4)

2. Other Income

 

10,000

20,000

10,000

100

3. Total Revenue (1 + 2)

 

2,26,000

1,12,000

(1,14,000)

(50.44)

4. Expenses

 

 

 

 

 

a. Purchases of Stock-in-Trade

 

80,000

1,40,000

60,000

75

b. Change in Inventories

 

30,000

(60,000)

(90,000)

(300)

c. Employee Benefit Expenses

 

5,000

10,000

5,000

100

d. Finance Costs

 

21,000

22,000

1,000

4.54

e. Depreciation and Amortisation Expenses

 

5,000

10,000

5,000

100

f. Other Expenses

 

80,000

1,30,000

50,000

62.5

 Total Expenses

 

2,21,000

2,52,000

31,000

14.03

5. Profit before Tax (3 – 4)

 

5,000

(1,40,000)

(83,000)

16.6

     Less: Income Tax

 

2,500

(2,500)

(100)

6. Profit After Tax

 

2,500

(1,40,000)

(1,37,500)

55

 

 

 

 

 

 

Working Notes:

1. Calculation of Net Sales

Net Sales = Cost of Goods Sold + Gross Profit – Sales Return

or, Net Sales = Purchases + Manufacturing Expenses + Change in Inventory + Gross Profit – Sales Return

Net Sales (2016) = 80,000 + 20,000 +30,000 + 90,000 – 4,000 = ₹ 2, 16,000

Net Sales (2017) = 1, 40,000 + 50,000 – 60,000 – 30,000 – 80,000 = ₹ 92,000

2. Calculation of Finance Cost

Finance Cost = Interest on short-term loans + Interest on 10% Debentures

Finance Cost (2016) = 20,000 + 1,000 = ₹ 21,000

Finance Cost (2017) = 20,000 + 2,000 = ₹ 22,000

3. Calculation of Other Expenses

Other Expenses = Freight Outward + Carriage Outward + Loss on sale of office car

Other Expenses (2016) = 10,000 + 10,000 + 60,000 = ₹ 80,000

Other Expenses (2017) = 20,000 + 20,000 + 90,000 = ₹ 1, 30,000

4. Prepare Comparative Income Statement from the following information:
 

Particulars

2015-16
₹.

2016-17
₹.

Manufacturing expenses

35,000

80,000

Opening stock

30,000

60% of closing stock

Sales

9,60,000

4,50,000

Returns outward

4,000 (out of credit purchase)

6,000 (out of cash purchase)

Closing stock

150% of opening stock

1,00,000

Credit purchases

1,50,000

150% of cash purchase

Cash purchases

80% of credit purchases

40,000

Carriage outward

10,000

30,000

Building

1,00,000

2,00,000

Depreciation on building

20%

10%

Interest on bank overdraft

5,000

10% debentures

2,00,000

20,00,000*

Profit on sale of copyright

10,000

20,000

Loss on sale of personal car

10,000

20,000

Other operating expenses

20,000

10,000

Tax rate

50%

40%

*There is a misprint in the book, this should be 2, 00,000

Comparative Income Statement

for the years ended March 31, 2016 and 2017

Particulars

Note

 No.

2015-16

(₹)

2016-17

(₹)

Absolute 

Change
(₹)

Percentage

Change 

1. Revenue from Operations

 

9,60,000

4,50,000

(5,10,000)

(53.13)

2. Other Income

 

10,000

20,000

10,000

100

3. Total Revenue (1 + 2)

 

9,70,000

4,70,000

(5,00,000)

(51.55)

4. Expenses

 

 

 

 

 

a. Purchases of Stock-in-Trade

 

2,66,000

94,000

(1,72,000)

(64.7)

b. Change in Inventories

 

(15,000)

(40,000)

(55,000)

(366.7)

c. Finance Costs

 

25,000

20,000

(5,000)

(20)

d. Depreciation and Amortisation Expenses

 

20,000

20,000

e. Other Expenses

 

30,000

40,000

10,000

33.33

 Total Expenses

 

3,26,000

1,34,000

(1,92,000)

58.90

5. Profit before Tax (3 – 4)

 

6,44,000

3,36,000

(3,08,000)

47.83

     Less: Income Tax

 

3,22,000

1,34,400

(1,87,600)

58.26

6. Profit After Tax

 

3,22,000

2,01,600

1,20,400

37.39

 

 

 

 

 

 

Working Notes:

1. Calculation of Net Purchases and Change in Inventory

Class 12 Chp 4-6

2. Calculation of Finance Cost

Finance Cost = Interest on Bank Overdraft + Interest on Debentures

Finance Cost (2016) = 5,000 + 20,000 = ₹ 25,000

Finance Cost (2017) = 0 + 20,000 = ₹ 20,000

3. Calculation of Other Expenses

Other Expenses = Carriage outward + other operating expenses

Other Expenses (2016) = 10,000 + 20,000 = ₹ 30,000

Other Expenses (2017) = 30,000 + 10,000 = ₹ 40,000

5. Prepare a Common size statement of profit and loss of Shefali Ltd. with the help of following information:
 

Particulars

2015-16
(₹)

2016-17
(₹)

Revenue from operations

 6,00,000

8,00,000

Indirect expense

 25% of gross profit

25% of gross profit

Cost of revenue from operations

 4,28,000

7,28,000

Other incomes

10,000

12,000

Income tax

30%

 30%

Common Size Income Statement

for the years ended March 31, 2016 and 20174

Particulars

Note

No.

2015-16

(₹)

2016-17

(₹)

Percentage of

Sales

2015-16

2016-17

1. Revenue from Operations

 

6,00,000

8,00,000

100

100

2. Other Income

 

10,000

12,000

1.67

1.5

3. Total Revenue (1 + 2)

 

6,10,000

8,12,000

101.67

101.5

4. Expenses

 

 

 

 

 

a. Cost of Revenue from Operations (COGS)

 

4,28,000

7,28,000

71.33

91

b. Other Expenses

 

43,000

18,000

7.17

2.25

 Total Expenses

 

4,71,000

7,46,000

78.5

93.25

5. Profit before Tax (3 – 4)

 

1,39,000

66,000

23.167

8.25

     Less: Income Tax

 

(41,700)

(19,800)

5.35

 

6. Profit After Tax

 

97,300

46,200

16.22

5.775

 

 

 

 

 

 

Working Notes:

1. Calculation of expenses

Other Expenses = Indirect Expenses = % of Gross Profit

Gross Profit = Net Sales −- Revenue from Operations 

For 2016, Gross Profit = ₹(6,00,000 −- 4,28,000) = ₹1,72,000

For 2017, Gross Profit = ₹(8,00,000 −- 7,28,000) = ₹72,000

 2016=1,72,000×25%=₹43,000

2017=72,000×25%=₹18,000

2016=1, 72,000×25%=₹43,000

2017=72,000×25%=₹18,000

6. Prepare a Common Size balance sheet from the following balance sheet of Aditya Ltd. and Anjali Ltd.:
 

Particulars

Aditya Ltd.
₹.

Anjali Ltd.
₹.

I. Equity and Liabilities

 

 

a) Equity share capital

6,00,000

8,00,000

b) Reserves and surplus

3,00,000

2,50,000

c) Current liabilities

1,00,000

1,50,000

Total

10,00,000

12,00,000

II. Assets

 

 

a) Fixed assets

 4,00,000

7,00,000

b) Current assets

 6,00,000

5,00,000

Total

1,00,0000*

12,00,000

 

 

 

*The total of Liabilities side must be equal to the total of Assets side, therefore, it should be 10, 00,000.

Common Size Balance Sheet 

Particulars

Aditya Ltd.

(₹)

Anjali Ltd. 

(₹)

% of Total 

Aditya Ltd.

Anjali Ltd.

I. Equity and Liabilities

 

 

 

 

1. Shareholder’s Fund

 

 

 

 

a. Equity Share Capital

6,00,000

8,00,000

60

66.67

b. Reserves and Surplus

3,00,000

2,50,000

30

20.83

2. Current Liabilities

1,00,000

1,50,000

10

12.5

Total

10,00,000

12,00,000

100

100

II. Assets

 

 

 

 

1. Non-Current Assets

 

 

 

 

a. Fixed Assets

4,00,000

7,00,000

40

58.33

 2. Current Assets

6,00,000

5,00,000

60

41.67

Total

10,00,000

12,00,000

100

100

 

 

 

 

 

Concepts covered in this chapter –

  • Meaning of financial analysis
  • Significance of financial analysis
  • Trend analysis
  • Tools of financial analysis
  • Limitations of financial analysis

Conclusion

NCERT solutions for class 12 Accountancy chapter 4 provides a wide degree of illustrative examples; which assists the students to comprehend and learn quickly. The above mentioned are the illustrations for class 12 CBSE syllabus. For more solutions and study materials of NCERT solutions for class 12 Accountancy visit BYJU’S or download the app for more information.

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