- 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
FR – April 2022 – L2 – Q3 – Preparation of Financial Statements and Adjustments
Prepare the statement of comprehensive income and statement of financial position for Caput Plc for the year ended 31 December 2020, incorporating necessary adjustments.
Question
The trial balance of Caput Plc, as at 31 December, 2020 is provided below:
Additional Information:
1. An inventory count at 31 December 2020 amounted to GH¢15,750,000. This includes damaged goods with a cost of GH¢1,200,000. These will require remedial work costing GH¢675,000 and could be sold for GH¢1,425,000.
2. Finance cost is made up of the full year’s preference and ordinary dividends paid.
3. Non-Current Assets:
- Land and Building were revalued at GH¢22,500,000 and GH¢72,000,000 respectively on 1 January 2020, resulting in revaluation gain of GH¢11,000,000 for the current year. At that date, the remaining life of the building was 15 years. Depreciation is on a s
- Depreciation on Plant and Equipment is at 12.5% on a reducing balance basis.
- Investment Property: On 31 December 2020, a qualified surveyor valued the property at GH¢20,250,000. Caput Plc uses the fair value model under IAS 40: Investment Property to value its investment property.
- It is the policy of the company to charge depreciation on a full-year basis
traight-line basis. Ignore deferred tax implications.
.
4. The directors have estimated the provision for income tax for the year ended 31 December 2020 at GH¢12,000,000. The deferred tax for the year ended 31 December 2020 is to be adjusted so that the tax base of the company’s net assets is GH¢18,000,000 less than the carrying amount. Assume the rate of tax is 30%.
5. On 1 October 2020, Caput Plc imported a piece of equipment from a European supplier for €1 million and agreed to settle the bill in six months’ time. The relevant exchange rates are provided below:
No entries have been made for the above transaction. Any exchange difference on translation should be debited or credited to operating expenses.
Required:
Prepare for Caput Plc:
a) Statement of Comprehensive Income for the year ended 31 December 2020. (10 marks)
b) Statement of Financial Position as at 31 December 2020. (10 marks)
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- 10 Marks
FR – April 2022 – L2 – Q5a – Conceptual Framework for Financial Reporting
Justify how qualitative characteristics of financial information apply to tangible non-current assets using examples.
Question
The IASB’s Conceptual Framework identifies, among others, the qualitative characteristics of relevance, faithful representation, comparability, and understandability.
Required:
Justify with an example each how the qualitative characteristics will apply to the treatment of tangible non-current assets. (10 marks)
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- 20 Marks
FR – April 2022 – L2 – Q4 – Financial Statement Analysis
Analyze the performance and position of Abayie Ltd based on its financial statements, comparing it with key sector ratios, and prepare a report for shareholders.
Question
Abayie Ltd is a listed company in Ghana and operates many supermarkets in Ghana. The following statements relate to Abayie Ltd for the year 2020:
Statement of Profit or Loss for the year ended 31 December 2020
Additional Information:
Key ratios for the supermarket sector (based on the latest available financial statement of 12 listed entities in the sector) are as follows:
- Gross Profit margin: 5.9%
- Return on Capital Employed (ROCE): 3.9%
- Net Assets Turnover: 1.93 times
Required:
Prepare a report addressed to the shareholders of Abayie Ltd, analyzing the performance and position of Abayie Ltd based on the financial statements and additional information provided. The report should also include comparisons with key sector ratios (where appropriate). (Total: 20 marks)
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- 5 Marks
FR – April 2022 – L2 – Q5b – Financial Reporting Standards and Their Applications
Outlines mandatory testing requirements for impairment of certain assets under IAS 36.
Question
In accordance with IAS 36: Impairment of Assets, an entity shall assess at the end of each reporting period whether there is any indication that an asset may be impaired. If any such indications exist, the entity shall estimate the recoverable amount of the asset. However, some assets would require mandatory testing for impairment.
Required:
Outline assets that require mandatory testing for impairment in accordance with IAS 36: Impairment of Assets. (5 marks)
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- Tags: Goodwill, IAS 36, Impairment testing, Intangible Assets, Mandatory Testing
- Level: Level 2
- Topic: Impairment of Assets
- Series: APR 2022
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- 5 Marks
FR – April 2022 – L2 – Q5c – Professional and Ethical Issues in Financial Reporting
Discuss safeguards for mitigating threats to ethical behavior in the context of tax compliance.
Question
Question:
Michael Onipa, a Chartered Accountant, is under pressure from his employees to under declare sales for the year ended 2021 to save the company from paying the due tax for the year. He has evaluated the threat to his professional obligations to comply with the fundamental principles of good ethical behavior, as significant. He has therefore considered safeguards to eliminate or reduce the threat to an acceptable level.
Required:
Discuss TWO (2) safeguards Michael Onipa could consider to either eliminate or reduce the threats to an acceptable level.
(5 marks)
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- Tags: Ethical Dilemmas, Professional Ethics, Safeguards, Tax Compliance
- Level: Level 2
- Topic: Professional and Ethical Issues in Financial Reporting
- Series: APR 2022
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- 5 Marks
PT – April 2022 – L2 – Q1b – Overview of the Ghanaian Tax System and Fiscal Policy
Justify the use of public debt as an alternative to taxation in Ghana's development agenda.
Question
b) The development agenda of a developing country like Ghana can only be brought to reality through the availability of funds. The two (2) main sources of government revenue are taxation and debt. In spite of the fact that taxation remains the most reliable source of government revenue for government plans, projects and programmes, it is said to be limited in its role and function in the economy.
Required:
Justify the use of public debt as an alternative to taxation.
(5 marks)
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- 9 Marks
PT – April 2022 – L2 – Q2a – Value Added Tax (VAT)
Describe activities under VAT that do not require meeting the threshold rule before registration is done.
Question
a) Meeting the threshold is a requirement for VAT registration. Others may come under voluntary registration. However, certain activities must be registered despite the above rules.
Required:
Describe activities under VAT, which do not require meeting the threshold rule before registration is done.
(9 marks)
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- 4 Marks
PT – April 2022 – L2 – Q2b – Value Added Tax (VAT)
Explain what constitutes the supply of services under the VAT Act 870 (Act 2013).
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- 2 Marks
PT – April 2022 – L2 – Q2c – Value Added Tax (VAT)
Explain what compulsory VAT registration entails under the VAT Act.
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