ACC305 Past Questions 2015 Scholarships › Forums › National Open University Past Questions and Answers › ACC305 Past Questions 2015 Tagged: ACC305 Past Questions, ACC305 Past Questions and answers, ACC305 TMA This topic contains 0 replies, has 1 voice, and was last updated by campusflava 5 months, 2 weeks ago. Viewing 1 post (of 1 total) Author Posts March 5, 2019 at 12:14 am #28423 campusflavaKeymaster NATIONAL OPEN UNIVERSITY OF NIGERIA 14-16 AHMADU BELLO WAY, VICTORIA ISLAND LAGOS SCHOOL OF MANAGEMENT SCIENCES MARCH/APRIL 2015 EXAMINATION Course Title: Cost Accounting Course Code: ACC305 Time: 3hrs Instruction: Answer 4 questions, question one and two is compulsory 1). Distinguish between Cost Accounting and Financial Accounting. (20 Marks) 2). What do you understand by the term “Integrated accounting” and what advantages does it present compared to other systems of cost and financial accounting? (20 Marks) 3). Describe the organization of a purchasing department and explain the various procedures in the purchasing department. . (15 Marks) 4). Design a materials requisition; a purchase requisition. (15 Marks) 5).i. Use the following figures to calculate each of the levels of: a) Reorder level b) Minimum stock level c) Maximum stock level d) Average stock level Normal usage 60 per week Minimum Usage 20 per week Maximum usage 100 per week Recorder period 3 -7 weeks Recorder quantity 400 per week 6. Discuss the difference between FIFO and LIFO Author Posts Viewing 1 post (of 1 total) You must be logged in to reply to this topic.