- 20 Marks
CSMCE – OCT 2022 – L2 – Q7 – Short Notes on Marketing Concepts
Short notes on reach, product life cycle, interpersonal skills, and distribution channels.
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Series: APR 2022
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- 20 Marks
CSMCE – OCT 2022 – L2 – Q5 – Factors for Marketing Plan Failures
Factors responsible for marketing plan failures.
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- Tags: Failure Factors, Implementation, Marketing Plans, Strategy Issues
- Level: Level 2
- Topic: Failure Factors, MARKETING PLANNING
- Series: APR 2022
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- 20 Marks
CSMCE – OCT 2022 – L2 – Q4 -Importance of Meeting Service Quality Expectations
Reasons to meet or exceed targeted customers' service expectations.
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- 20 Marks
CSMCE – OCT 2022 – L2 – Q3 – F.I.N.D. Interview System Areas
Areas represented by F.I.N.D. in customer interviews
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- Tags: Customer Focus, F.I.N.D. System, Interview Areas, Sales Structure
- Level: Level 2
- Topic: The sales interview, Understanding the buying process
- Series: APR 2022
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- 20 Marks
CSMCE – OCT 2022 – L2 – Q2 – External Environmental Elements for Bank Planning
External elements affecting bank planning and their implications.
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- 20 Marks
BSIM – OCT 2022 – L3 – Q3 – IT in Market Research for Bank Branches
Ways IT can be applied in market research for new branches and methods for collecting qualitative data with IT usage.
Question
The management of a bank has decided to establish five new branches at vantage locations in the next quarter to attract new customers. You are the chairperson of a committee that is to conduct market research and identify the locations for establishing the new branches. Given the importance of the report, and the limited time available, the Committee has decided to adopt Information Technology in the conduct of the research.
a) Identify five (5) ways in which Information Technology could be applied in the conduct of the market research. [10 Marks]
b) Describe five (5) methods for collecting qualitative data and explain how IT could be used in any two of the data collection methods. [10 Marks]
[Total: 20 Marks]
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- 20 Marks
BSIM – OCT 2022 – L3 – Q2 – Virtual Organizations in Financial Institutions
Explain virtual organization and discuss managerial and technical issues in running one for financial institutions.
Question
The COVID-19 global pandemic and associated lockdowns compelled many financial institutions to adopt virtual approaches to service delivery to their customers. With many researchers predicting the reoccurrence of such pandemics, executives of financial institutions have expressed a keen interest in the concept of a virtual organization (VO), how to run an effective virtual organization, and the ensuing challenges. Explain what a virtual organization is and discuss the managerial and technical issues in running a virtual organization.
[20 Marks
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- Tags: COVID-19, Managerial Issues, Pandemics, Service Delivery, Technical Issues, Virtual Organization
- Level: Level 3
- Topic: Information Systems and the Bank
- Series: APR 2022, OCT 2022
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- 10 Marks
SCS – Apr 2022 – L3 – Q8 – Controlling risk
Explain five factors of internal control that HPC can implement to strengthen governance.
Question
The Accountant advised the CEO that to strengthen governance, the Board should concern itself with the establishment of strong internal control systems. Failures or weaknesses in internal controls will have adverse consequences for HPC’s finances, financial reporting, operational efficiency and effectiveness, or regulatory compliance.
Required:
Write a paper, explaining FIVE (5) factors to the Board the nature of internal controls that could be instituted by HPC to strengthen governance. (10 marks)
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- Tags: Corporate Governance, Governance, Internal Controls, Risk Management
- Level: Level 3
- Topic: Controlling Risk
- Series: APR 2022
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- 10 Marks
SCS – Apr 2022 – L3 – Q7 – Professional practice and codes of ethics
Discuss key governance issues based on Ghana’s Code of Best Practices considering the Board Chairman’s intentions.
Question
In reference to Ghana’s Code of Best Practices in Corporate Governance, discuss FOUR (4) key issues that could determine how well or badly HPC is governed, taking into consideration the intention and business relationship of the Board Chairman. (10 marks)
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- 20 Marks
SCS – Apr 2022 – L3 – Q6 – Investment decisions
Compute NPV for two investment options and evaluate potential benefits and difficulties for HPC.
Question
a) For the two strategic development options being considered by HPC, compute:
i) the Net Present Value of Option 1.
ii) the Net Present Value of Option 2.
iii) the Net Present Value for the worst-case outcome for Option 1. (10 marks)
b) Discuss THREE (3) potential benefits and TWO (2) difficulties for HPC of undertaking each of the strategic development options. Your answer should include an evaluation of the calculations of the profitability index of each option. (10 marks)
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- Tags: Investment Analysis, NPV, Profitability Index, Strategic Development
- Level: Level 3
- Topic: Investment Decisions
- Series: APR 2022
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- 20 Marks
SCS – Apr 2022 – L3 – Q5 – Identifying and assessing risk
Discuss eight business risks faced by HPC and recommend mitigation strategies based on the Turnbull Report.
Question
In their Annual Business Review meeting, the Board of HPC discussed a report on Internal Controls and Risk Management, presented by the Internal Auditor. The Board Chairman in his comments mentioned that he would have been more comfortable with a Risk Management report categorized according to the Turnbull Report.
Required:
With reference to the Turnbull Report and the comments made by the Board Chairman, write a report discussing EIGHT (8) categories of business risks faced by HPC and recommendations to mitigate the identified risks. (20 marks)
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- Tags: Business Risks, Corporate Governance, Risk Management, Risk Mitigation, Turnbull Report
- Level: Level 3
- Topic: Identifying and assessing risk
- Series: APR 2022
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- 10 Marks
SCS – Apr 2022 – L3 – Q4 – Strategy implementation
Explain why HPC’s decentralized system is preferable to a centralized system.
Question
The Chief Executive Officer is concerned that with the expansion of the operations of HPC to other countries, she would further have to divulge authority and power to other Managers because of how the company would grow in size and complexity.
Required:
Explain to the CEO why HPC’s decentralized system of internal organizational relationship is preferable to a centralized system. (10 marks)
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- Tags: Centralization, Decentralization, Decision Making, Organizational Structure
- Level: Level 3
- Topic: Strategy implementation
- Series: APR 2022
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- 10 Marks
SCS – Apr 2022 – L3 – Q3 – Competitive advantage
Analyse how HPC can achieve competitive advantage using Porter’s six principles when expanding to Nigeria and Togo.
Question
Consistent with its strategic ambition to expand its business into other countries, HPC is considering expanding to Nigeria and Togo.
Required:
Using Porter’s six principles of strategic positioning, analyse how HPC can achieve sustainable competitive advantage if it decides to expand the business to Nigeria and Togo. (10 marks)
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- 10 Marks
SCS – Apr 2022 – L3 – Q2 – Environment analysis
Discuss HPC’s external business environment using PESTEL and evaluate limitations of PESTEL.
Question
favourable or unfavourable to its present survival and future success. The influences (current influences and possible future influences) of the business environment of HPC need to be analysed to ensure that none are over-looked.
Required:
a) Using PESTEL analysis, discuss HPC’s external business environment that appears to be either favourable or unfavourable to its present survival and future success. (8 marks)
b) Discuss TWO (2) limitations of PESTEL as a technique in analysing the environmental influences of HPC. (2 marks)
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- Tags: Business Environment, External factors, PESTEL Analysis, Strategy Analysis
- Level: Level 3
- Topic: Environment analysis
- Series: APR 2022
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- 10 Marks
SCS – Apr 2022 – L3 – Q1 – Strategy, stakeholders and mission
Discuss stakeholder groups' influence on business decisions using Mendelow's matrix.
Question
As part of a review of the strategic position of HPC and its move to expand the business, management identified its major stakeholder groups, their power, and their expectations that could either fast-track or delay the implementation of the decision. These major stakeholder groups are the employees, farmers, regulatory authorities, and customers.
Required:
Using two matrices of approach to stakeholder mapping, discuss and show (with diagrams) the relative significance of stakeholder groups identified and their real and potential influences over HPC and its expansion strategies. (Use the stakeholder position/importance matrix and the stakeholder power/interest matrix – Mendelow matrix.) (10 marks)
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- 3 Marks
FR – April 2022 – L2 – Q2c – Conceptual Framework for Financial Reporting
Determine the appropriate accounting treatment for a government grant received by Karikari Ltd for the purchase of a new plant and its impact on the financial statements.
Question
c) On 1 June 2020, Karikari Ltd received a Government of Ghana grant of GH¢8 million towards the purchase of a new plant with a gross cost of GH¢64 million. The plant has an estimated life of 10 years and is depreciated on a straight-line basis. One of the terms of the grant is that the sale of the plant before 31 May 2024 would trigger a repayment on a sliding scale as follows:
The directors propose to credit the statement of profit or loss with GH¢2 million (GH¢8 million @ 25%) being the amount of the grant they believe has been earned in the year ended 31 May 2021. Karikari Ltd accounts for government grants as a separate item of deferred credit in its statement of financial position. Karikari Ltd has no intention of selling the plant before the end of its useful economic life.
Required:
Explain with computations, the appropriate accounting treatment of the above transaction in accordance with IAS 20 Government Grants and Disclosure of Government Assistance in the financial statements of Karikari Ltd for the year ended 31 May 2021. (3 marks)
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- 6 Marks
FR – April 2022 – L2 – Q2b – Financial Reporting Standards and Their Applications
Prepare extracts for the Statement of Financial Position and Statement of Profit or Loss for Kundugu Ltd in 2020 and 2021, accounting for a lease agreement under IFRS 16.
Question
b) Kundugu Ltd (Kundugu) is a manufacturing company located in the Savannah Region. The reporting date of Kundugu is 31 December, and the company reports under International Financial Reporting Standards (IFRSs). Kundugu intends to expand its production to take advantage of emerging economic activities in the new region.
On 1 January 2020, the company entered into a lease agreement for production equipment with a useful economic life of 8 years. The lease term is for four years, and Kundugu agrees to pay annual rent of GH¢50,000 commencing on 1 January 2020 and annually thereafter. The interest rate implicit in the lease is 7.5%, and the lessee’s incremental borrowing rate is 10%. The present value of lease payments not yet paid on 1 January 2020 is GH¢130,026. Kundugu paid legal fees of GH¢1,000 to set up the lease.
Required:
Prepare extracts for the Statement of Financial Position and Statement of Profit or Loss for 2020 and 2021, showing how Kundugu should account for this transaction. (6 marks)
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- 20 Marks
FR – April 2022 – L2 – Q1 – Group Financial Statements and Consolidation
Prepare consolidated statement of financial position for Stalky Ltd and its subsidiary Fanny Ltd as of 31 December 2020, including necessary adjustments.
Question
The following financial statements relate to Stalky Ltd and Fanny Ltd:
Additional information:
1. Stalky Ltd acquired 30 million ordinary shares of Fanny Ltd on 1 January 2019 when the book value of Fanny Ltd’s share capital (including preference share capital) plus reserves stood at GH¢58 million. The recorded investment includes GH¢1.5 million due diligence costs incurred by Stalky Ltd to facilitate its acquisition of Fanny Ltd. Stalky Ltd has no interest in Fanny Ltd’s issued preference shares.
2. Fair value exercise conducted at the time of Fanny Ltd’s acquisition revealed the following:
- A piece of equipment with a carrying amount of GH¢10 million had an assessed fair value of GH¢16 million. Estimated remaining useful life: six years.
- An in-process research and development project valued at GH¢5 million was identified. It started generating economic benefits a year ago and is expected to continue for four more years.
- Deferred tax provision of GH¢1 million was required. By 31 December 2019, the provision required had reduced to GH¢0.9 million, and by 31 December 2020 had decreased further to GH¢0.7 million.
3. During the year, Stalky Ltd sold goods worth GH¢25 million to Fanny Ltd with a mark-up of one-third. At 31 December 2020, Fanny Ltd’s inventories included GH¢4.8 million of these goods. At 31 December 2019, Fanny Ltd’s inventories included GH¢3 million worth of goods purchased from Stalky Ltd at the same mark-up. Ignore deferred tax implications on these items.
4. The trade receivables of Stalky Ltd included GH¢8 million receivable from Fanny Ltd. This balance did not agree with the equivalent trade payable in Fanny Ltd’s books due to payment of GH¢2 million made on 30 December 2020 by Fanny Ltd to Stalky Ltd.
5. The group’s policy is to measure the non-controlling interests in subsidiaries at fair value. The fair value per ordinary share in Fanny Ltd at acquisition was GH¢1.50. Goodwill was impaired by 10% for the year ended 31 December 2019. A further impairment of 10% of the remaining goodwill is required in the current period. All impairment losses are charged to operating expenses.
Required:
Prepare the Consolidated Statement of Financial Position as at 31 December 2020 for Stalky Ltd Group.
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- 4 Marks
FR – April 2022 – L2 – Q2d – Conceptual Framework for Financial Reporting
Explain the definition of investment property under IAS 40 and discuss the differences between the fair value model and revaluation model for investment properties.
Question
d) The recognition, measurement, and disclosure of an Investment Property in accordance with IAS 40: Investment Property appears straightforward. However, this could get complicated when measured either under the fair value model or under the revaluation model.
Required:
i) Define Investment Property under IAS 40 and explain the rationale behind its accounting treatment. (2 marks)
ii) Explain how the treatment of an investment property carried under the fair value model differs from an owner-occupied property carried under the revaluation model. (2 marks)
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