Series: JULY 2023

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SCS – July 2023 – L3 – Q6b – Conflicts of Interest and Ethical Conflict Resolution

Explain the ICSA guidance on decisions that the board should reserve for itself and not delegate to individual or executive managers.

Question

The Director of Human Resources and Organisational Development is concerned that her recent presentation about matrix management structure and performance management should be sent to the board for approval. Prof. Ernest Kofi Mensah vehemently disagrees. He referred her to the Institute of Chartered Secretaries and Administrators (ICSA) guidance.

Required:
Identify and explain FOUR (4) of the Institute of Chartered Secretaries and Administrators (ICSA) guidance on decision-making responsibilities that the board should reserve to itself and should not be delegated to individual or executive managers to confirm and comment on the view that the Director of Human Resources and Organisational Development’s matrix structure presented is not one of the issues which require board approval before implementation.

Answer

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Tags: Board Responsibilities, Corporate Governance, Decision Making, ICSA Guidance
Level: Level 3

Topic: Conflicts of Interest and Ethical Conflict Resolution
Series: JULY 2023

SCS – July 2023 – L3 – Q6a – Professional Practice and Codes of Ethics

Explain five reasons why the Director of Finance and Operations might project finance over other functions.

Question

Some of the SavvyTech plc management team is concerned that the Director of Finance and Operations is domineering during the acquisition engagement processes at meetings. The Director of Finance and Operations mentioned in anger that ‘arguably, accountancy has an influence on business and government and that is both:
i) continuous and
ii) more extensive than any other profession’.

Required:
As a newly qualified Chartered Accountant responsible for code of ethics in SavvyTech plc, identify and explain FIVE (5) reasons in support of why the Director of Finance and Operations seems to be projecting finance over other functions.

Answer

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Tags: Decision Making, Ethics, Finance Leadership, Influence
Level: Level 3

Topic: Professional practice and codes of ethics
Series: JULY 2023

SCS – July 2023 – L3 – Q5b – Sources of Finance

Explain two benefits of increasing long-term capital using retained profits.

Question

When companies retain profits in the business, the increase in the retained profits adds to equity reserves. This view was suggested by SavvyTech plc management team to the board. The Board is not convinced and seek further explanation.

Required:
Explain TWO (2) benefits to the board of directors on what it means to increase long-term capital using retained profits in SavvyTech plc.

Answer

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Tags: Equity, Financial strategy, Long-term Capital, Retained Profits
Level: Level 3

Topic: Sources of Finance
Series: JULY 2023

SCS – July 2023 – L3 – Q5a – International financial management

Calculate the group profits from the sale of HVSC based on the transfer price set at market price and 25% of Utopia's unit cost.

Question

As the Head of Finance of SavvyTech plc, the Director of Finance and Operations has assigned you to use the forecast data (Table 8) and the “additional information” provided to calculate the following to support engagement by the management team with the Board.

Required:
Calculate the group profits to be realised from the sale of HVSC, if the transfer price for the component is set at its market price, which is GH¢26 per unit (total Ghana cost) plus 25% of Utopia’s unit cost.

Answer

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Tags: Financial Calculations, Group Profit, Taxation, Transfer Pricing
Level: Level 3

Topic: International financial management
Series: JULY 2023

SCS – July 2023 – L3 – Q4 – Controlling Risk

Prepare an internal memo on how SavvyTech's board can show commitment to risk management and create a risk-aware culture.

Question

Essential aspects of risk management and control are the culture within the organisation. The culture within the organisation is set by the board of directors and senior management (the tone at the top), but it should be shared by every manager and employee.

Required:
You are the ‘Risk and Assurance Manager’ of SavvyTech plc with the responsibility of creating a culture of risk awareness in the organisation. Prepare an internal memo for the management team to be discussed with the board of directors on what they must do to show their own commitment to risk management in the things that they say and do.

Answer

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Tags: Organizational Culture, Risk Management, Tone at the Top
Level: Level 3

Topic: Controlling Risk
Series: JULY 2023

SCS – July 2023 – L3 – Q3b – Strategy Implementation

Identify and explain four reasons why SavvyTech needs to research, innovate, and develop existing and new products.

Question

Business entities must innovate to survive and grow. The Director of Marketing and Sales, in a meeting, presented a product market annual performance analysis report and highlighted that the sales trend of the ‘Wrist Organiser 3b’, introduced in 2018, reduced by 75% in 2022 and by 50% in 2021.

Required:
As a member of SavvyTech plc management team, identify and explain FOUR (4) reasons why it is necessary to research, innovate and develop existing and new products as an organisation.

Answer

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Tags: Business Growth, Product Innovation, Research and Development
Level: Level 3

Topic: Strategy implementation
Series: JULY 2023

SCS – July 2023 – L3 – Q3a – Strategy Implementation

Identify and explain five internal triggers of change at SavvyTech plc with examples from the case study.

Question

Change happens continually within organisations, and the markets within which SavvyTech plc operate are not an exception. Strategic development inevitably results in some changes, which need careful management. Some of SavvyTech plc’s internal triggers of change are motivated or caused by developments within the organisation.

Required:
Review SavvyTech plc case study, identify, and explain FIVE (5) internal triggers of change with specific examples from the case.

Answer

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Tags: Internal Factors, Organizational Change, Triggers of Change
Level: Level 3

Topic: Strategy implementation
Series: JULY 2023

SCS – July 2023 – L3 – Q2b – Strategy Implementation

Explain three broad corporate parenting styles described by Goold and Campbell that SavvyTech might adopt.

Question

SavvyTech plc’s management team is debating the corporate parenting strategy that should be adopted. Corporate parenting refers to the relationship between the Head Office and the strategic business unit staff in Utopia.

Required:
As a lead consultant, explain to SavvyTech plc management team THREE (3) broad parenting styles that might be adopted as described by Goold and Campbell (1991).

Answer

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Tags: Business Units, Corporate Strategy, Parenting Styles, Strategic Control
Level: Level 3

Topic: Strategy implementation
Series: JULY 2023

SCS – July 2023 – L3 – Q2a – Strategy, Stakeholders, and Mission

Explain the stakeholder position/importance matrix and provide guidance to SavvyTech on managing key stakeholders.

Question

The management team of SavvyTech plc is concerned about how the staff union group with 60% shareholding might react if the 2022 dividend payout is withheld to finance the subsidiary acquisition in Utopia, particularly the production staff with 80% shareholding of the total staff union’s interest of 60%. There are a number of stakeholder mappings. Two most popular are the ‘stakeholders position/importance matrix’ and ‘stakeholders power/interest matrix’.

Required:
You have been contracted as an independent consultant by SavvyTech plc to review the stakeholder mapping using the ‘stakeholders position/importance matrix’. Draw the diagram, illustrate, and explain using a brief internal memo to guide the management team’s engagement with the stakeholders as presented in the case study.

Answer

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Tags: Influence, Mapping, Matrix, Stakeholders, Strategic Engagement
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: JULY 2023

SCS – July 2023 – L3 – Q1b – Controlling Risk

Explain why FCA might be difficult to use for the HVSC discussion at SavvyTech.

Question

After the presentation of the SAM four-step approach to the management team, the Director of Finance and Operations made the following statement: ‘The data required for FCA is usually only available in organisations that are at the forefront in responding to the environmental agenda’ (Bebbington, Gray, Hibbitt, and Kirt, 2001).

Required:
Explain to the management team why it might be difficult to use FCA to support the ongoing discussion about the new product HVSC.

Answer

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Tags: Environmental Data, Full-Cost Accounting, Product lifecycle, Risk Management
Level: Level 3

Topic: Controlling Risk
Series: JULY 2023

BCL – July 2023 – L1 – Q3b – Company Directors and Other Officers

Explain factors disqualifying an individual from being a director and the legality of using a substitute director.

Question

Atibie family owned an enterprise devoted to the supply of plumbing materials. A business adviser working with H&H Bank advised the family to convert from an enterprise to a limited liability company to qualify for a discounted interest loan facility. The head of Atibie family stated as follows: “Any member of the family can be appointed as a board member of the new company.”

The head of Atibie family reasons that the company can make use of a Substitute Director in case they have no one to appoint as a substantive Director.

Required:

i) Explain FIVE (5) factors that could disqualify a member of Atibie family from being appointed a member of the board. (10 marks)

ii) Explain why the head of Atibie family is right or wrong on the use of a Substitute Director. (5 marks)

Answer

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Tags: Companies Act, Company Directors, Disqualification, Substitute Director
Level: Level 1

Topic: Company directors and other officers
Series: JULY 2023

BCL – July 2023 – L1 – Q3a – Human Rights

Identify remedies that a High Court may issue in respect of a breach of fundamental human rights.

Question

Where a person is convinced that there is a breach of his/her fundamental human rights, the Constitution of the Republic of Ghana, 1992 allows that person to apply to the High Court of Ghana for a remedy.

Required:

State FOUR (4) remedies that a High Court may issue in respect of the breach of fundamental human rights. (5 marks)

Answer

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Tags: High Court, Human Rights, Legal Remedies
Level: Level 1

Topic: Human Rights
Series: JULY 2023

BCL – July 2023 – L1 – Q2b – Agency

Discuss the concept of actual authority in an agency relationship and determine liability for the cost of goods.

Question

Kwei Aglote is an agent of Batis Brown, the principal. Kwei Aglote has actual authority to contract for his principal Batis Brown on specific items. Kwei Aglote enters into contractual relations with Ogyeene Baby for the supply of cassava flour (kokonte powder) worth GH¢20,000. Aglote disclosed his agency relationship with Batis Brown to Ogyeene Baby. The principal has failed to pay for the cost of the goods supplied. Despite the explanation, Ogyeene Baby says he knows no one else but Kwei Aglote who must pay for the cost of the goods.

Required:

i) Explain actual authority under the agency relationship. (5 marks)

ii) In the above scenario, who bears liability for the cost of the goods? (5 marks)

Answer

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Tags: Actual Authority, Agency, Principal Liability
Level: Level 1

Topic: Agency Law
Series: JULY 2023

BCL – July 2023 – L1 – Q2a – Sale of Goods/Hire Purchase

Analyze the fitness for purpose in a sale of goods scenario and the seller's fundamental obligation under the Sale of Goods Act.

Question

Kofi Adabla visited the showroom of Car Dealers Ltd, a company that sells used vehicles. Kofi Adabla informed Car Dealers Ltd that he needed a vehicle that could withstand the rugged terrain. Kofi Adabla had his Mechanic with him. The salesman at the Car Dealers Ltd recommended a slightly used vehicle to Kofi Adabla. Kofi Adabla’s Mechanic did a thorough examination of the vehicle after which Kofi Adabla decided to buy the vehicle at a price of GH¢55,000.

Three months after Kofi Adabla bought the vehicle, it developed a mechanical fault which was promptly repaired by Car Dealers Ltd under the terms of sale, exhausting the warranty. Three months later, the vehicle developed another mechanical fault but Car Dealers Ltd refused to repair it. Kofi Adabla now threatens to sue.

Required:

i) Explain whether Kofi Adabla will succeed on a claim that the vehicle was not fit for the purpose for which it was acquired and that there was a breach of the conditions of sale. (5 marks)

ii) State the fundamental obligation of the seller under the Contract for Sale of Goods under the Sale of Goods Act, 1962 (Act 137). (5 marks)

Answer

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Tags: Conditions of Sale, Fitness for Purpose, Sale of Goods
Level: Level 1

Topic: Sale of goods/hire purchase
Series: JULY 2023

BCL – July 2023 – L1 – Q1c – Public Sector Entities

Explain the three main stages of money laundering.

Question

Explain the THREE (3) main stages of money laundering. (9 marks)

Answer

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Tags: Integration, Layering, Money laundering, Placement
Level: Level 1

Topic: Public Sector Entities
Series: JULY 2023

BCL – July 2023 – L1 – Q1b – Sources of Law

Explain the Golden Rule, Mischief Rule, and Eiusdem Generis Rule of statutory interpretation.

Question

In interpreting statutes, the courts rely significantly on rules of interpretation.

Required:

Explain the following rules of interpretations:

i) Golden rule (2 marks)
ii) Mischief rule (2 marks)
iii) Eiusdem generis rule (2 marks)

Answer

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Tags: Eiusdem Generis Rule, Golden Rule, Mischief Rule, Statutory Interpretation
Level: Level 1

Topic: Sources of Law
Series: JULY 2023

BCL – July 2023 – L1 – Q1a – Hierarchical Structure of Courts

Explain the concepts of binding and persuasive precedents in the hierarchical structure of courts.

Question

The hierarchical structure of the courts in Ghana makes judicial precedents both binding and perhaps persuasive.

Required:

Explain binding and persuasive precedents. (5 marks)

Answer

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Tags: Binding Precedent, Judicial Precedents, Persuasive Precedent
Level: Level 1

Topic: Hierarchical Structure of Courts
Series: JULY 2023

BMIS – July 2023 – Q5b – Competitive forces and markets

Explain five factors that can pose a threat to the successful operations of a business.

Question

A Threat which is an element of SWOT can be described as a factor or situation in a firm’s external environment that can be an obstacle to the efficient operations of the organisation. Required: In reference to the statement above, explain FIVE (5) factors which can pose a threat to the successful operations of a business organisation.

Answer

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Tags: Business Environment, Competitive Forces, SWOT Analysis, Threats
Level: Level 1

Topic: Competitive forces and markets
Series: JULY 2023

BMIS – July 2023 – Q5a – Introduction to information technology and information systems

Explain a Transaction Processing System and describe four of its characteristics.

Question

The company in which you work as Clients’ Services Manager has recently registered a steep growth in its customer base. To cater for this level of growth and future occurrences, you have decided to recommend to management to consider the acquisition and installation of a Transaction Processing System (TPS).

Required:
i) Explain a Transaction Processing System. (2 marks)
ii) Explain FOUR (4) characteristics of a Transaction Processing System. (8 marks)

Answer

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Tags: Business Technology, IT Systems, TPS, Transaction Processing System
Level: Level 1

Topic: Introduction to information technology and information systems
Series: JULY 2023

BMIS – July 2023 – Q4b – Operations strategy

List and explain five advantages of a product layout in manufacturing.

Question

Product layout is a production layout used for manufacturers who produce large volumes of goods to ensure smooth rapid flow of production. Required: Highlight FIVE (5) advantages of a product layout.

Answer

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Tags: Advantages, Efficiency, Manufacturing, Operations Strategy, Product Layout
Level: Level 1

Series: JULY 2023

Series: JULY 2023

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SCS – July 2023 – L3 – Q6b – Conflicts of Interest and Ethical Conflict Resolution

Explain the ICSA guidance on decisions that the board should reserve for itself and not delegate to individual or executive managers.

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SCS – July 2023 – L3 – Q6a – Professional Practice and Codes of Ethics

Explain five reasons why the Director of Finance and Operations might project finance over other functions.

You're reporting an error for "SCS – July 2023 – L3 – Q6a – Professional Practice and Codes of Ethics"

SCS – July 2023 – L3 – Q5b – Sources of Finance

Explain two benefits of increasing long-term capital using retained profits.

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SCS – July 2023 – L3 – Q5a – International financial management

Calculate the group profits from the sale of HVSC based on the transfer price set at market price and 25% of Utopia's unit cost.

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SCS – July 2023 – L3 – Q4 – Controlling Risk

Prepare an internal memo on how SavvyTech's board can show commitment to risk management and create a risk-aware culture.

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SCS – July 2023 – L3 – Q3b – Strategy Implementation

Identify and explain four reasons why SavvyTech needs to research, innovate, and develop existing and new products.

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SCS – July 2023 – L3 – Q3a – Strategy Implementation

Identify and explain five internal triggers of change at SavvyTech plc with examples from the case study.

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SCS – July 2023 – L3 – Q2b – Strategy Implementation

Explain three broad corporate parenting styles described by Goold and Campbell that SavvyTech might adopt.

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SCS – July 2023 – L3 – Q2a – Strategy, Stakeholders, and Mission

Explain the stakeholder position/importance matrix and provide guidance to SavvyTech on managing key stakeholders.

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SCS – July 2023 – L3 – Q1b – Controlling Risk

Explain why FCA might be difficult to use for the HVSC discussion at SavvyTech.

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BCL – July 2023 – L1 – Q3b – Company Directors and Other Officers

Explain factors disqualifying an individual from being a director and the legality of using a substitute director.

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BCL – July 2023 – L1 – Q3a – Human Rights

Identify remedies that a High Court may issue in respect of a breach of fundamental human rights.

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BCL – July 2023 – L1 – Q2b – Agency

Discuss the concept of actual authority in an agency relationship and determine liability for the cost of goods.

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BCL – July 2023 – L1 – Q2a – Sale of Goods/Hire Purchase

Analyze the fitness for purpose in a sale of goods scenario and the seller's fundamental obligation under the Sale of Goods Act.

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BCL – July 2023 – L1 – Q1c – Public Sector Entities

Explain the three main stages of money laundering.

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BCL – July 2023 – L1 – Q1b – Sources of Law

Explain the Golden Rule, Mischief Rule, and Eiusdem Generis Rule of statutory interpretation.

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BCL – July 2023 – L1 – Q1a – Hierarchical Structure of Courts

Explain the concepts of binding and persuasive precedents in the hierarchical structure of courts.

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BMIS – July 2023 – Q5b – Competitive forces and markets

Explain five factors that can pose a threat to the successful operations of a business.

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BMIS – July 2023 – Q5a – Introduction to information technology and information systems

Explain a Transaction Processing System and describe four of its characteristics.

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BMIS – July 2023 – Q4b – Operations strategy

List and explain five advantages of a product layout in manufacturing.

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