Level 2 – Page 29

FM – L2 – Q50 – Sources of finance

Explain five types of PPP arrangements and five types of risks associated with PPPs in Ghana.

Question

PPP ARRANGEMENTS

(a) The PPP arrangements are explained below:
(i) Operate and Maintain (O&M)
(ii) Build-Operate Transfer (BOT)
(iii) Build Transfer and Operate (BTO)
(iv) Rehabilitate, Operate and Transfer (ROT)
(v) Service Concession

(b) Explain five types of risk associated with a PPP arrangement that allocation between the parties.

Answer

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Tags: Ghana, Infrastructure Financing, PPP arrangements, Public Private Partnership, Risk Allocation
Level: Level 2

Topic: Sources of finance: debt

PSAF – L2 – Q2.2 – Public expenditure and financial accountability framework

Map eight observations on Zamora's PFM to PEFA pillars and discuss their impact on the related pillar.

Question

The following observations were made regarding public financial management in Zamora:

(i) Over the years, governments have included superfluous projects and programs in the annual budget, which were not intended to be achieved. Consequently, these projects and programs were not delivered to the people.

(ii) In Zamora, the annual budget is presented to the entire parliament and broadcast live on radio and television for all Zamorians to hear and see. Subsequently, the entire budget is published in newspapers and finally gazetted when approved.

(iii) It is becoming difficult to access the financial reports of many covered entities, and these entities also fail to post the financial reports on their websites for public access.

(iv) In recent years, the government has invested significant resources into implementing the International Public Sector Accounting Standards (IPSAS), resulting in over 90% implementation of the standards across the public sector.

(v) The Audit Service has been denied resources to operate because it is perceived as overly critical of corruption in the public sector.

(vi) Managers of State-Owned Enterprises (SOEs) were given high salaries and allowances despite making huge losses for the state.

(vii) Resource allocation is mostly done based on intuition and personal preferences rather than a well-formulated policy-based fiscal strategy.

(viii) The adoption and implementation of the Zamora Integrated Financial Management Information System (ZIFMIS) have helped the government improve budget controls.

Required:

Map out each observation (a-h) to PEFA’s pillars of public financial management and discuss how each affects the related pillar.

Answer

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Tags: Accounting and reporting, Asset management, Audit and scrutiny, Budget execution, Budget reliability, Fiscal strategy, PEFA pillars, Public Financial Management, Transparency
Level: Level 2

Topic: Public expenditure and financial accountability framework

FM – L2 – Q49 – Sources of finance: equity

Discuss benefits of Public Private Partnerships (PPP) to government, citizens, and private sector in Zamora.

Question

(a) Discuss the benefits of PPP to the government, citizens, and private business partners.

(b) Public partnership is an alternative to PPP. Explain Public-Public Partnership and Discuss the advantages of Public-Public Partnership (PUP).

Answer

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Tags: Cost Efficiency, Non-profit, PPP alternative, Public Public Partnership, Public sector collaboration, PUP, Transparency
Level: Level 2

Topic: Sources of finance: equity

FM – L2 – Q48 – Sources of finance: debt

Explain Public Private Partnership, discuss its guiding principles, and outline challenges to its use in Ghana.

Question

PUBLIC PRIVATE PARTNERSHIP

Governments may explore new public financing initiatives for the provision of public infrastructure and services. Public Private Partnership (PPP) is a common vehicle used by governments to achieve this objective.

Required:
(a) Explain the term Public Private Partnership.
(b) Discuss the principles guiding the use of the Public Private Partnership.
(c) What are the challenges to the use of PPP in Ghana?

Answer

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Tags: Financial management, Ghana, Infrastructure Financing, Local Content, PPP, Private Sector, Public Private Partnership, Public Sector, Risk Allocation, Value for Money
Level: Level 2

Topic: Sources of finance: debt

PSAF – L2 – Q1.3- Public Sector Fiscal Planning and Budgeting

Discuss four general principles of fiscal policy objectives under the Public Financial Management Act 2018 (Act 750).

Question

Fiscal policy making is an essential aspect of planning as it provides not only fiscal direction to the economy but guides the entire budget preparation process. Thus, serious attention should be given to the fiscal policy making processes.

Required:
(a) Discuss four general principles of fiscal policy objective under the Public Financial Management Act 2018 (Act 750).

(b) Explain the guiding principles in formulating fiscal policy objective in the following areas:

(i) revenue;

(ii) spending;

(iii) borrowing; and

(iv) fiscal risk.

Answer

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Tags: Accountability, Fiscal Management, Fiscal Policy, PFM Act, Sustainability
Level: Level 2

Topic: Public sector fiscal planning and budgeting

PSAF – L2 – Q1 – Concept of Public Financial Management

Explain the concept of Public Financial Management in the context of resource management and public service delivery.

Question

(A) Explain the concept of Public Financial Management.

(B) Explain the elements of public financial management process.

Answer

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Tags: PFM Cycle, Public Financial Management, Public Service, Resource Management
Level: Level 2

Topic: The context of public financial management

FM – L2 – Q46 – Economic and regulatory environment

Explain the constitutional provision on taxation in Zamunda.

Question

GOVERNMENT SOURCES OF REVENUE

A critical task of government in public financial management is raising revenues for development as the success of government’s programmes and projects depends large on the availability of funds. The central government raises money from taxes, non-tax revenues and grants.

Required:

(a) Explain the Constitutional provision on Taxation.

(b) Explain FOUR objectives of taxation other than for revenue mobilisation.

Answer

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Tags: Consumer Behavior, Economic Management, Fiscal Policy, Taxation, Wealth Redistribution
Level: Level 2

Topic: Economic and regulatory environment

FM – L2 – Q45 – Economic and regulatory environment

Explain five differences between public and private sector entities in an economy.

Question

(A). Explain FIVE differences between public sector entities and private sector entities.

(B). Explain the differences between public goods and services and private goods and services.

(C). Explain the distinguishing features of public enterprises.

Answer

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Tags: Autonomy, Government Business Enterprises, Profitability, Public Enterprises
Level: Level 2

Topic: Economic and regulatory environment

L2 – Q73 – Cash Budgets and Master Budgets

Prepare a cash budget for Ministry of Commerce for April–June 202X, showing monthly and quarterly totals.

Question

On 31st March 202X the bank balance in the books of the Ministry of Commerce was GHC 900,000. The department provides you with the information below.

Month	IGF GHC’000	Govt releases GHC’000	Donations GHC’000	Salaries GHC’000	Goods and services GHC’000	Office equipment GHC’000	Advances GHC’000
Jan	4,100	2,000		1,200	1,000	600	50
Feb	900	500		320	300		40
March	1,300	500	400	320	400		50
April	1,200	600	200	620	320		40
May	1,000	600		550	220		60
June	1,000	600	200	660	420	500	50

Relevant notes to the data:
(i) The Internally Generated Funds (IGF) are made up of 70% cash receipts and 30% receivables. The receivables are collected as follows: 60% in the month following the service delivery and remaining 40% in the second month following the service delivery. The department is entitled to retention of 80% of the IGF collected and the remaining 20% is payable into the National Treasury (the central government fund) in the month in which the money is collected.
(ii) The department also enjoys budget allocation and Government promises to follow schedule.
(iii) The department anticipates some donations as shown in the table above. It is expected that 30%, 40%, and 70% of donations in March, April, and June respectively will be in cash. The remaining portions are expected to come in the form of materials.
(iv) The staff salaries will be paid at the end of each month.
(v) Goods and services are paid for one month in arrears.
(vi) The office equipment acquired in January will be paid for in the third month following the purchase, and the one to be acquired in June will be paid for immediately.
(vii) The office equipment is to be depreciated at 2.5% per month.
(viii) From January 20X0, staff of the department will be granted advances under an advance scheme approved by the government. The advances will be recovered in four equal monthly instalments, beginning in the month following the month in which the advances are granted (i.e. advances in January will be repaid in four equal monthly instalments beginning in February). Estimated advances are shown in the table above.

Required:
(a) Prepare a cash budget for the department for the Second Quarter of 202X (April – June 202X) showing the cash forecast for each individual month and the total for the quarter as a whole.

(b) Advise management based on the outcomes obtained in question (a) above.

Answer

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Tags: Advances, Budget Allocation, Cash Budgeting, Cash Flow, Consolidated Fund, Donations, Payments, Public Sector Accounting, Receivables, Short-Term Investments
Level: Level 2

Topic: Cash budgets and master budgets

MA – L2 – Q72 – Performance Analysis

Analyze Nexus Enterprises' financial performance using ratios and metrics for Years 1, 3, and 4 (forecast).

Question

The financial performance of Nexus Enterprises is summarised below. ‘Now’ is the end of Year 3.

	Year 1	Year 3	Year 4 (forecast)
Cost of sales/Sales	63%	70%	70%
Marketing costs/sales	9%	6%	5%
Distribution costs/sales	13%	8%	6%
Administration costs/sales	2%	2%	2%
Interest charges/Sales	0%	4%	8%
Operating profit/sales	13%	10%	9%
Loans/Sales revenue	0%	50%	67%
Inventory/Sales	10%	14%	18%
Sales/Non-current assets	4.7 times	1.9 times	1.2 times
Average sales per employee	600,000	1,032,000	686,000,000
Average sales per product	281,000	185,000	234,000
Average sales per supplier	750,000	726,000	651,000

Required:
Use this information to evaluate the financial performance of Nexus Enterprises.

Answer

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Tags: Borrowing, Cost Management, Employee Productivity, Financial Ratios, Inventory Management, Non-current Assets, Operating Profit, Performance Analysis, Profitability, Supplier Management
Level: Level 2

Topic: Performance Analysis

Level (SQ): Level 2

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FM – L2 – Q50 – Sources of finance

Explain five types of PPP arrangements and five types of risks associated with PPPs in Ghana.

PSAF – L2 – Q2.2 – Public expenditure and financial accountability framework

Map eight observations on Zamora's PFM to PEFA pillars and discuss their impact on the related pillar.

FM – L2 – Q49 – Sources of finance: equity

Discuss benefits of Public Private Partnerships (PPP) to government, citizens, and private sector in Zamora.

FM – L2 – Q48 – Sources of finance: debt

Explain Public Private Partnership, discuss its guiding principles, and outline challenges to its use in Ghana.

PSAF – L2 – Q1.3- Public Sector Fiscal Planning and Budgeting

Discuss four general principles of fiscal policy objectives under the Public Financial Management Act 2018 (Act 750).

PSAF – L2 – Q1 – Concept of Public Financial Management

Explain the concept of Public Financial Management in the context of resource management and public service delivery.

FM – L2 – Q46 – Economic and regulatory environment

Explain the constitutional provision on taxation in Zamunda.

FM – L2 – Q45 – Economic and regulatory environment

Explain five differences between public and private sector entities in an economy.

L2 – Q73 – Cash Budgets and Master Budgets

Prepare a cash budget for Ministry of Commerce for April–June 202X, showing monthly and quarterly totals.

MA – L2 – Q72 – Performance Analysis

Analyze Nexus Enterprises' financial performance using ratios and metrics for Years 1, 3, and 4 (forecast).

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Explain five types of PPP arrangements and five types of risks associated with PPPs in Ghana.

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Map eight observations on Zamora's PFM to PEFA pillars and discuss their impact on the related pillar.

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Discuss benefits of Public Private Partnerships (PPP) to government, citizens, and private sector in Zamora.

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Explain Public Private Partnership, discuss its guiding principles, and outline challenges to its use in Ghana.

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Discuss four general principles of fiscal policy objectives under the Public Financial Management Act 2018 (Act 750).

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Explain the concept of Public Financial Management in the context of resource management and public service delivery.

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Explain the constitutional provision on taxation in Zamunda.

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Explain five differences between public and private sector entities in an economy.

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Prepare a cash budget for Ministry of Commerce for April–June 202X, showing monthly and quarterly totals.

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