Series: MAY 2017

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CSME – May 2017 – L2 – SC – Q7 – Corporate Governance

Explain the Nolan principles guiding public life and discuss standards for ethical conduct in the public sector.

Question

Nolan Committee on standards in public life was set up to report on standards of behaviour amongst politicians, civil servants and public bodies. Provide an analysis of Nolan‟s‟ SEVEN Principles of Public Life. (15 Marks)

Answer

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Tags: Accountability, Ethics, Integrity, Nolan Principles, Public Sector
Level: Level 2

Topic: Corporate Governance
Series: MAY 2017

CSME – May 2017 – L2 – SC – Q6 – Ethics in Business

Explain agency problems and Tucker's model to guide ethical decisions for accountants.

Question

a. Agency problems and conflicts are common in all organisations.
Required:
Explain the concept of agency problems and discuss FIVE types of agency conflicts that might exist in an organisation. (8 Marks)

b. Tucker‟s Five Question Model can be employed in training new professional accountants in ethics.
Required:
Explain the issues covered by the Tucker‟s Five Question Model. (7 Marks)

Answer

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Tags: Agency Conflicts, Ethics, Professional Conduct, Tucker’s Five-Question Model
Level: Level 2

Topic: Ethics in Business
Series: MAY 2017

CSME – May 2017 – L2 – SC – Q5 – Risk Management and Corporate Strategy

Show how organizations can address risk management challenges using ISO 31000.

Question

a. Using the ISO 31000 framework, show what an organization might do to address risk management challenges. (9 Marks)

b. Explain THREE main elements of risk management contained in the ISO 31000 framework. (6 Marks)

Answer

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Tags: ISO 31000, Organizational Risk, Risk Control, Risk Management, Risk Management Framework
Level: Level 2

Topic: Risk Management and Corporate Strategy
Series: MAY 2017

CSME – May 2017 – L2 – SB – Q4 – Strategic Management in the Public Sector

Explain organizational growth through Greiner's model and discuss board diversity benefits and limitations.

Question

a. With the aid of an appropriate diagram, explain how organisations and management structures might change as a business grows using Greiner’s growth model. (10 Marks)

b. Explain briefly the concept of board diversity giving THREE examples of categories of diversity. (5 Marks)

c. Explain THREE benefits of the diversity of the board of a large company. (3 Marks)

d. Discuss TWO limitations of board diversity. (2 Marks)

Answer

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Tags: Board Diversity, Corporate Governance, Growth Model, Organizational Structure, Strategic Management
Level: Level 2

Topic: Strategic Management in the Public Sector
Series: MAY 2017

CSME – May 2017 – L2 – SB – Q3 – Risk Management and Corporate Strategy

Explain business risk to a conservative investor and discuss strategies for risk control and monitoring.

Question

Mallam Danladi is a civil servant who has won a sum of one hundred million Naira in a lottery. Being a very conservative person who is averse to risks, Mallam Danladi is contemplating putting the money in a fixed deposit account at an interest rate of 14% per annum or into treasury bills at an interest rate of 18.5% per annum. These two options are considered to be virtually risk-free. Mr. Madoff, a risk consultant, advised him to invest in the production of shea butter, coconut oil, and black soap, with a promise of 52% profit per annum. In an attempt to convince Mallam Danladi to invest in the production of these items, Mr. Madoff tried to educate him on the nature of risks and how to effectively monitor and control them in ways that will ensure that business remains highly profitable.

Required:

a. Explain briefly the nature of risk in business to Mallam Danladi. (2½ Marks)

b. Discuss FOUR distinct means of controlling business risk. (10 Marks)

c. Explain briefly the purpose of monitoring risks in business. (3 Marks)

d. Discuss THREE ways of monitoring risks in business. (4½ Marks)

Answer

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Tags: Business risk, Financial Decision-Making, Fixed Deposit, Risk Control, Risk Monitoring, Treasury bills
Level: Level 2

Topic: Risk Management and Corporate Strategy
Series: MAY 2017

CSME – May 2017 – L2 – SB – Q2 – Corporate Culture and Strategy

Discuss the cultural web and the ethical principles for maintaining client confidentiality.

Question

Johnson and Scholes suggested that there is a cultural web within an organization.

Required:

a. Discuss the idea of the cultural web and its interrelated elements in a way that would assist a new employee to understand this concept in a business organization. (15 Marks)

b. As a professional accountant, explain any TWO ethical principles or requirements you would consider in deciding whether or not to keep a promise to maintain confidentiality with regards to information acquired from a client in the ordinary course of business. (5 Marks)

Answer

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Tags: Confidentiality, Cultural Web, Ethics, Johnson and Scholes, Organizational Culture
Level: Level 2

Topic: Corporate Culture and Strategy
Series: MAY 2017

CSME – May 2017 – L2 – SA – Q1 – Strategic Planning Process

Develop a business plan for a fast-food franchise and explain the product life cycle with stakeholder analysis.

Question

Gbenga Alimi wants to establish a fast food restaurant in Koko, a state in Naijaland. A well-known global fast-food outfit in Naijaland has agreed to give him a franchise to operate the business in the state. However, the franchisor has requested Gbenga to present a viable business plan for assessment.

Required:

a. Outline the contents of a business plan addressing the proposed franchise’s viability. (20 Marks)

b. Use a graphical representation to educate Gbenga on the four stages of the classical product life cycle. (6 Marks)

c. Within an organizational context, distinguish between:

i. Narrow and wide stakeholders
ii. Active and passive stakeholders

(4 Marks)

Answer

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Tags: Business Plan, Franchise, Product Life Cycle, Stakeholders, Strategic Planning, Viability
Level: Level 2

Topic: Strategic Planning Process
Series: MAY 2017

PSAF – May 2017 – L2 – SC – Q7 – Government Expenditure

Identify and explain factors contributing to the rapid growth in Nigeria's government spending.

Question

A number of factors have been identified as inevitably leading to rapid growth in government spending in many countries over time.

Required:

Identify and explain FIVE of these factors as they apply to Nigeria.

Answer

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Tags: Economic Drivers, Fiscal Policy, Government Spending, Nigeria, Public Finance
Level: Level 2

Topic: Government Expenditure
Series: MAY 2017

PSAF – May 2017 – L2 – SC – Q6 – Fiscal Policy and Public Finance

Outline and explain the macroeconomic objectives of Nigeria’s federal government.

Question

State and explain FIVE macroeconomic objectives of the Federal Government of Nigeria.

Answer

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Tags: Economic Policy, Fiscal Management, Macroeconomic Objectives, Nigeria’s Economic Goals
Level: Level 2

Topic: Fiscal Policy and Public Finance
Series: MAY 2017

PSAF – May 2017 – L2 – SC – Q5 – Fiscal Policy and Public Finance

Define external debt and discuss causes and adverse consequences of Nigeria's rising debt levels.

Question

The accumulation of external debt is a common phenomenon in developing countries at the stage of development where external resources are needed to bridge budgetary gap.

Required:

a. Explain what is meant by External Debt. (3 Marks)

b. Discuss the causes and likely adverse consequences of the rising level of Nigeria’s total external debt stock. (12 Marks)

Answer

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Tags: Budget Deficit, Economic Consequences, External Debt, Fiscal Policy, Public Finance
Level: Level 2

Topic: Fiscal Policy and Public Finance
Series: MAY 2017

BMF – May 2017 – L1 – SB – Q5 – Basics of Business Finance and Financial Markets

Preparation of a cash budget for XYZ Automobiles Nigeria Limited for the three months ending March 31, 2017.

Question

The following projections relate to XYZ Automobiles Nigeria Limited.

Month	Sales (N)	Purchases (N)	Wages (N)	Overheads (N)
November 2016	400,000	204,000	76,000	38,000
December 2016	420,000	200,000	76,000	42,000
January 2017	460,000	196,000	80,000	46,000
February 2017	500,000	200,000	84,000	48,000
March 2017	600,000	216,000	90,000	50,000

Additional information:

Cash balance on January 1, 2017, is expected to be N80,000.
A plant will be installed in November 2016 at a cost of N1,000,000 and the monthly installment of N50,000 is payable from January 2017.
A sum of N30,000 will be paid as dividends in the month of March 2017.
Company income tax of N45,000 will be due for payment in March 2017.
Advance payment of N800,000 in respect of a sale of a truck will be received in March 2017.
In line with the company’s policy, 50% of sales are on a cash basis. 50% of credit sales are collected in the month immediately following the month of sales while the balance is paid a month after the payment of the first installment.
All purchases are on credit and the creditors are paid fully two months after the month of purchase.
Wages and overheads are paid as and when due.

Required:

Prepare a cash budget for each of the THREE months ending March 31, 2017.

Answer

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Tags: Budget Preparation, Cash Budget, Cash Flow, Financial planning
Level: Level 1

Topic: Basics of Business Finance and Financial Markets
Series: MAY 2017

BMF – May 2017 – L1 – SB – Q4 – Management, Individual, and Organizational Behaviour

Explains McGregor's Theory X and Theory Y, and conditions in which Theory Y is applicable.

Question

Scholars have come up with different approaches to management. One of them is Douglas McGregor who propounded the Theory X and Theory Y approaches to managing people.

a. Explain McGregor’s Theory X and Theory Y. (16 Marks)

b. List FOUR conditions in which Theory Y is applicable. (4 Marks)

Answer

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Tags: Employee Motivation, Leadership Styles, Management Theories, Organizational Behavior
Level: Level 1

Topic: Management, Individual, and Organizational Behavior
Series: MAY 2017

BMF – May 2017 – L1 – SB – Q3c – The Business Environment

Defines key business terms including fiscal policy, monetary policy, monopoly, downsizing, de-layering, and outsourcing.

Question

Define briefly the following business terms:

i. Fiscal policy;
ii. Monetary policy;
iii. Monopoly;
iv. Down sizing;
v. De-layering; and
vi. Outsourcing;

Answer

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Tags: De-layering, Downsizing, Fiscal Policy, Monetary Policy, Monopoly, Outsourcing
Level: Level 1

Topic: The Business Environment
Series: MAY 2017

BMF – May 2017 – L1 – SB – Q3b – The Business Environment

Explains the economic implications of a fall in the value of a nation’s currency.

Question

Explain briefly the implications of a fall in the value of a nation’s currency.

Answer

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Tags: Currency Depreciation, Economic Implications, Exchange Rates, Trade Balance
Level: Level 1

Topic: The Business Environment
Series: MAY 2017

BMF – May 2017 – L1 – SB – Q3a – The Business Environment

Explains five categories of unemployment in an economy.

Question

High levels of unemployment are unwelcome in any economy. Attempts have been made at one time or the other to classify unemployment to facilitate a lasting solution.

Required:

State and explain briefly five categories of unemployment.

Answer

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Tags: Economic Issues, Employment Types, Labor Market, Unemployment
Level: Level 1

Topic: The Business Environment
Series: MAY 2017

BMF – May 2017 – L1 – SB – Q2b – Business and Organizational Structures and Choices

Compares tall and flat organizational structures, explaining their definitions and disadvantages.

Question

Structures in organisations could be tall or flat.

i. Explain briefly what tall and flat organisational structures are. (2 Marks)

ii. Describe briefly THREE disadvantages each of flat and tall organisational structures.

Answer

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Tags: Business Efficiency, Hierarchical Structures, Management, Organizational Structures
Level: Level 1

Topic: Business and Organizational Structures and Choices
Series: MAY 2017

BMF – May 2017 – L1 – SB – Q2a – Communications in Business

Illustrates the basic elements of a communication system with a diagram.

Question

Communication is important for organisational efficiency, but the effectiveness of a communication system depends on the effectiveness of each of its elements. With the aid of a diagram illustrate the basic elements of a communication system.

Answer

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Tags: Basic Elements of Communication, Communication Systems, Organizational Efficiency
Level: Level 1

Topic: Communications in Business
Series: MAY 2017

BMF – May 2017 – L1 – SB – Q1c – Business and Organizational Structures and Choices

Provides a brief explanation of the concept of a cartel and its impact on competition.

Question

Explain briefly the concept of Cartel.

Answer

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Tags: Anti-competitive Practices, Cartel, Market Control, Price Fixing
Level: Level 1

Topic: Business and Organizational Structures and Choices
Series: MAY 2017

BMF – May 2017 – L1 – SB – Q1b – Business and Organizational Structures and Choices

Provides a brief explanation of the concept of restricting competition.

Question

Explain briefly ‘Restricting Competition.’ (5 Marks)

Answer

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Tags: Competitive Behavior, Market dynamics, Restricting Competition
Level: Level 1

Topic: Business and Organizational Structures and Choices
Series: MAY 2017

BMF – May 2017 – L1 – SB – Q1a – Business and Organizational Structures and Choices

Discusses how strategic alliances and joint ventures can be used to gain competitive advantage, and briefly explains restricting competition and cartel concepts.

Question

In order to survive and achieve a competitive advantage, companies may need to enter into collaboration with stakeholders.

Required:

Using Strategic Alliances and Joint Ventures, explain how collaboration can be used in business to achieve competitive advantage.

Answer

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Tags: Business Collaboration, Cartels, Competitive Advantage, Joint Ventures, Restricting Competition, Strategic Alliances
Level: Level 1

Topic: Business and Organizational Structures and Choices
Series: MAY 2017

Series: MAY 2017

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CSME – May 2017 – L2 – SC – Q7 – Corporate Governance

Explain the Nolan principles guiding public life and discuss standards for ethical conduct in the public sector.

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CSME – May 2017 – L2 – SC – Q6 – Ethics in Business

Explain agency problems and Tucker's model to guide ethical decisions for accountants.

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CSME – May 2017 – L2 – SC – Q5 – Risk Management and Corporate Strategy

Show how organizations can address risk management challenges using ISO 31000.

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CSME – May 2017 – L2 – SB – Q4 – Strategic Management in the Public Sector

Explain organizational growth through Greiner's model and discuss board diversity benefits and limitations.

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CSME – May 2017 – L2 – SB – Q3 – Risk Management and Corporate Strategy

Explain business risk to a conservative investor and discuss strategies for risk control and monitoring.

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CSME – May 2017 – L2 – SB – Q2 – Corporate Culture and Strategy

Discuss the cultural web and the ethical principles for maintaining client confidentiality.

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CSME – May 2017 – L2 – SA – Q1 – Strategic Planning Process

Develop a business plan for a fast-food franchise and explain the product life cycle with stakeholder analysis.

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PSAF – May 2017 – L2 – SC – Q7 – Government Expenditure

Identify and explain factors contributing to the rapid growth in Nigeria's government spending.

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PSAF – May 2017 – L2 – SC – Q6 – Fiscal Policy and Public Finance

Outline and explain the macroeconomic objectives of Nigeria’s federal government.

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PSAF – May 2017 – L2 – SC – Q5 – Fiscal Policy and Public Finance

Define external debt and discuss causes and adverse consequences of Nigeria's rising debt levels.

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BMF – May 2017 – L1 – SB – Q5 – Basics of Business Finance and Financial Markets

Preparation of a cash budget for XYZ Automobiles Nigeria Limited for the three months ending March 31, 2017.

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BMF – May 2017 – L1 – SB – Q4 – Management, Individual, and Organizational Behaviour

Explains McGregor's Theory X and Theory Y, and conditions in which Theory Y is applicable.

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BMF – May 2017 – L1 – SB – Q3c – The Business Environment

Defines key business terms including fiscal policy, monetary policy, monopoly, downsizing, de-layering, and outsourcing.

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BMF – May 2017 – L1 – SB – Q3b – The Business Environment

Explains the economic implications of a fall in the value of a nation’s currency.

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BMF – May 2017 – L1 – SB – Q3a – The Business Environment

Explains five categories of unemployment in an economy.

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BMF – May 2017 – L1 – SB – Q2b – Business and Organizational Structures and Choices

Compares tall and flat organizational structures, explaining their definitions and disadvantages.

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BMF – May 2017 – L1 – SB – Q2a – Communications in Business

Illustrates the basic elements of a communication system with a diagram.

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BMF – May 2017 – L1 – SB – Q1c – Business and Organizational Structures and Choices

Provides a brief explanation of the concept of a cartel and its impact on competition.

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BMF – May 2017 – L1 – SB – Q1b – Business and Organizational Structures and Choices

Provides a brief explanation of the concept of restricting competition.

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BMF – May 2017 – L1 – SB – Q1a – Business and Organizational Structures and Choices

Discusses how strategic alliances and joint ventures can be used to gain competitive advantage, and briefly explains restricting competition and cartel concepts.

You're reporting an error for "BMF – May 2017 – L1 – SB – Q1a – Business and Organizational Structures and Choices"

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