MyPrivateTutor is now LearnPick

MPT 2915
  • Male, 44 Years
  • Activity Score329

Sumit R

  • I teach at My Home
Profile Details
Profile Details

Qualification :

0

Total Experience :

10 Years

I am associated with a eminent school as PGT Accountancy. I have been teaching Accountancy to the students of class XI - XII of all boards since last five years. My teaching style is more of an informal type where studying is not a mere ordeal. Highly interactive clases would make it an enjoyable experience.

Tutoring Option:

I Can Manage Both

Tutoring Approach:

My teaching style is more of an informal type where studying is not a mere ordeal. Highly interactive clases would make it an enjoyable experience. Focus is more on total education rather than domain education.

Hourly Fees [INR]:

300.00

Tuition Schedule:

  • Sunday : --
  • Monday : --
  • Tuesday : --
  • Wednesday : --
  • Thursday : --
  • Friday : --
  • Saturday : --
Class 11 - 12 Accountancy, English Medium INR 300.00 /hour
MBA & BBA BBA Subjects INR 500.00 /hour
Answer
Answer
  • Question: What is meant by debentures?

    Posted in: Accountancy | Date: 07/11/2015

    Answer:

    The Indian Companies Act u/s 2(12) defines Debentures as " Debentures include stock, bonds and any other securities of a company, whether constituting a charge on asset of the company or not".

    Simply put, it is a means of raising fund from the public without issuing shares. The debenture is a debt insturment promising the buyer to return a specific sum of money after a certain period of time with a certain interest. It is a no-risk investment from the point of view of the investor. 

    You might think of a fixed deposit by the bank for a clearer idea.

  • Answer:

    (1) Partnership is the relation between 2 or more persons.

    (2) They agree to share the profit/loss of the firm in a pre-determined ratio (equally, in absence of any agreement)

    (3) Partnership is an agreement to carry on the business by all the partners or any one of them acting for all.

  • Question: Why is it necessary to have a partnership deed?

    Posted in: Accountancy | Date: 07/11/2015

    Answer:

    Anything process or activity becomes wayward and aimless in absence of any guideline or framework. The partnership deed provides that required guideline to the partnership business. It consists of the intricate details like name & adress of the partners, name & address of the firm, information about thr profit sharing ratio, partner's salary, partner's commission, interest on drawings or capital etc. There is no scope for any confusion or misunderstanding if there is a deed, as the agreement is signed by all the partners accepting such terms and conditions.

    A partnership deed provides the basic framework within which the business can be carried on in a smooth and systematic manner.

  • Answer:

    Under fixed capital, as the name suggests, the opening and closing balance of the capital remains fixed in the 'Capital Account'. All other items like drawings, interest on capital, interest on drawings, partners salary etc. are recorded in a separate account called the 'Current Account'. The 'Capital Account' under fixed method remains unaltered except in the case of 

    (1) permanent withdrawl of capital (NOT drawings)

    (2) additional contribution of capital

     

    Fluctuating method, is the one which consists only one account i.e., 'Capital Account'. All items are posted in the same account. As a result, the opening and closing balance of the account is likely to change/fluctuate.

    It should br remembered that the total of Capital + Current Account (fixed method) = Capital Account (fluctuating method).

    Another point of remembrance is that in the fixed method, Capital Account  shall always have a credit balance, whereas, the Current Account can have both debit or credit balance.

  • Answer:

    Cash from investing activities are generally those, involve acquisition and disposal of long term assets (both tangible and intangible) and investments.

    INFLOW:

    Sale of fixed assets

    Sale of investments

    Sale of shares of other companies

    OUTFLOW;

    Purchase of fixed assets

    Purchase of investments

    Purchase of shares of other companies

  • Answer:

    (1) Sweat equity shares to promoters as an acknowledgement to their controbution.

    (2) Vendor either as a consideration for purchase of an asset or as a purchase consideration for buying a  business.

  • Answer:

    Working capital, as funds needed to meet the day to day expense of the firm depends on factors like :

    Nature of the business (a capital intensive or a nature intensive industry)

    Scale of the business

    Nature of product

    Operating cycle (debtors turnover and creditors turnover period) etc.

  • Answer:

    Average profit is the profit earned by the business. Considering the rate of return on capital, capitalised value of average profit will give the required capital needed to earn that profit. It is mostly need to find the valuation of goodwll under capitalisation method.

Articles
Articles

Articles written by me [2]

Training and teaching- A paradox by itself
  • Posted in: Finance
  • Date: 19/12/2015

“Knowledge is power” – the great philosopher and the creator of the empiricism Sir Francis Bacon had made this sacrosanct statement in the 16th century. Although, it contains an irreversible truth, we seem to have gone miles away from the ...

Read More
Money Laundering, The Many Colours of Money
  • Posted in: English
  • Date: 09/12/2015

The word „money laundering‟, although not very common even 30 years back has become a household phenomenon. Every scientific invention or technology has been used as a boon or a curse since time immemorial. Little did Oppenheimer know that „Ma...

Read More

Can't Find The Right Tutor Yet?

Post your requirement in LearnPick

Query submitted.

Thank you!

Drop Us a Query:

Drop Us a Query