BPOI-002,BPOI-102 IGNOU Solved Assignment 2026-27

BPOI-002 Solved Assignment 2026-27: Fundamentals of Accounting (Part II) TMA Solutions

This verified digital PDF solution set covers the core requirements for BPOI-002, focusing on Final Accounts and Corporate Financial Statements under IGNOU’s Diploma in Accounting & Finance (SOVET). Below are 5 key syllabus blocks addressed with structured answers:

1. Preparation of Final Accounts (Trading and Profit & Loss Account)

• Detailed step-by-step solutions for adjusting entries (e.g., depreciation, outstanding expenses, prepaid incomes) in Trading and P&L Accounts.
• Case studies on closing stock valuation (FIFO/LIFO/average cost) with journal entries and trial balance reconciliation.
• Example: X Ltd.’s final accounts with adjustments for bad debts, discount on purchases, and provision for doubtful debts.

2. Preparation of Balance Sheet (Corporate Financial Statements)

• Explanation of liquid assets vs. current assets and their classification in the Balance Sheet (Indian GAAP compliance).
• Solutions for disclosure requirements (e.g., contingent liabilities, non-current liabilities) with sample Balance Sheet formats.
• FAQ: ‘How does the order of assets/liabilities differ between sole proprietorship and corporate accounts?’

  Answer: Corporate accounts follow liquidity order (current assets first), while sole proprietorships may list assets alphabetically unless specified otherwise.

3. Concepts of Depreciation and Their Accounting Treatment

• Comparison of straight-line, reducing balance, and written-down value methods with numerical examples.
• Journal entries for disposal of fixed assets (including profit/loss on sale) with calculation of accumulated depreciation.
• Example: Depreciation of machinery under SLM (5% p.a.) and RBM (10% p.a.) for 3 years.

4. Corporate Financial Statements: Ratios and Analysis

• Calculation of liquidity ratios (Current Ratio, Quick Ratio) and profitability ratios (Gross Profit Margin, Net Profit Ratio) with interpretation.
• Solutions for trend analysis using comparative financial statements (e.g., 2023 vs. 2024).
• FAQ: ‘Why is the Current Ratio critical for short-term solvency?’

  Answer: A ratio below 1:1 indicates inability to meet short-term obligations with current assets, signaling potential liquidity risk.

5. Accounting for Partnership Firms (Final Accounts and Reconstitution)

• Step-by-step preparation of Profit & Loss Appropriation Account with salary/interest to partners and profit-sharing ratios.
• Solutions for admission/retirement of partners (e.g., goodwill adjustment, sacrificing ratio, new profit-sharing agreement).
• Example: Reconstitution of X & Y Partnership with new partner Z (investing ₹50,000) and revised profit-sharing (2:3:5).

Key Features of This TMA Solution:

• 100% plagiarism-free content with IGNOU-verified references (e.g., Study Material (2nd Edition), 2025).
• Strict adherence to word limits (500/250/100 words per question) as per IGNOU guidelines.
• Includes submission-ready PDF format with numbered answers, clear headings, and blueprint alignment to BPOI-002’s TMA criteria.
• Supports both English and Hindi mediums (where applicable) with bilingual terminology where necessary.

Submission Deadline Note:

This solution is tailored for the 2026-27 session. Ensure submission via IGNOU’s official portal within the 6-month window (typically June/December cycles). Late submissions incur penalties.