Place 'Management accountant' or 'Financial accounant' next to each of the following statements according to which applies.
Which of the following scenarios is an example of independence within the role of the finance function?
Company O has appointed a new CEO who is well known in the industry for making radical changes within the companies that she works for. After her first 9 months in the role, she announced some changes that she wanted to make, starting with the Finance Department. She stressed an intention to focus inwards on improvements to efficiencies and that she was not afraid to make fundamental changes if this is what is required to achieve those improvements. Which of the following is described above?
F manages a portfolio of clients, as do his colleagues. All income that is earned by them is pooled to cover costs and overheads and any remaining profits are split according to an agreed formula. F and his colleagues have joint and several liability in relation to the work they carry out on the organisation's behalf. Which of the organisation types listed below best describes the organisation that F works for?
More and more organisations are developing their supply chain networks by building closer links with suppliers. Which THREE of the following are considered to be features of this trend?
Company V has made the decision to operate using Six Sigma in order to manage the supply chain within the production process. What process below is the method used to continually monitor and chart a process while it is operating?
A company offers life coaching and self-improvement training. As part of its promotion strategy, the company sends out free, heavily branded, daily motivational emails to all of its subscribers. It actively encourages its subscribers to forward its emails on to other contacts, provided the emails are not changed in any way. Which of the following marketing strategies is described above?
When implementing a new IT system and according to the theory of Kotter, Schlesinger and Sache, which of the following is a benefit of using participation as a way of overcoming resistance to change?
Corporate social responsibility (CSR) encompasses four different dimensions.
Match each of the descriptions below with the correct CSR dimension.
Which of the following statements regarding Just-In-Time (JIT) are true?
1:The main aim of JIT it to ensure a business has a sufficient amount of leftover stock, just in case it's needed further down the line.
2:Although the benefits of JIT are many, its use can end up harming supplier relations.
3:JIT generally results in lower costs for the business using it.
XYZ company is a large public limited company, registered in the UK and required to be externally audited Who is responsible for appointing the external auditors?
B is a small company that offers translation services into another language. There are very few employees and a network of translators is kept on a database Customers ask for work to be carried out through a website and B finds a suitable translator, taking a fee from the overall charge. The website is maintained by a third party
What type of organisation is this?
The Finance Function of PRS Company have been working with the Human Resources function (HR) lo develop a series of Key Performance Indicators (KPIs).
Which of the following HR activities would be the focus of the proposed 'employee satisfaction scores" KPI?
Which of the following is an advantage of a functional organisational structure?
In preparation for GD Company's annual people resourcing meeting, PR is creating the HR Plan for the Finance Directorate. He is currently collecting information for the second stage of the plan i.e. Internal Analysis. Which THREE of the following will PR need information about for this stage?
Which of the following does NOT help to bring about operational improvement in the manufacturing process of an organisation?
H works in the finance function and has been asked by the Finance Manager to draft a report to be part of the annual update to go out to all the employees of the organisation
H informs the Finance Manager the intention is to include a whole range of financial information including ratios and comparisons for the previous years in the report
Which of the following qualities of good information should H be most concerned with when producing the report?
The Finance Manager of HLL Company, a large energy provider, has organised a finance function staff meeting to discuss the potential use of big data systems.
The main point on the meeting agenda is whether the business has the available resources to store and manage the data that will be available and whether it has the financial resources to upgrade the information technology systems.
Which of the following features of big data will these discussions most likely involve?
X Company has several distinctive corporate social responsibility stances including a concentration on the triple bottom line, being proactive, and treating stakeholders as partners. According to Johnson, Whittington and Schools' categorization which of the following stances would best fit X?
Which of the following would work as Support Staff in Mintzberg's organisational structure?
During the past six months NVT has been undergoing a study, as part of a rationalisation programme to review the profitability of each of its retail stores.
As a result, 30 stores have been identified for closure T with a further 50 stores selected to receive an investment of funds in order to remain profitable going forward. Throughout this process NVTs finance function has worked alongside others in the organisation providing advice and guidance.
Which TWO of the following areas has the finance function most likely been involved with as part of the review?
Which of the following is a possible disadvantage associated with a matrix structure?
An effective Corporate Social Responsibility (CSR) strategy can offer which of the following benefits to an organisation.
Select ALL that apply.
The finance function of an organisation supports the organisation's strategies and operations.
Which THREE of the following activities are fundamental to the role of the finance function?
An organisation has grown in size over the last 6 months and it wishes to improve communication with its employees. Examples of information to share include company policies, human resource information and notices to employees.
Which type of system should the company adopt?
Which of the following sources of data will have limited usefulness to finance professionals?
Company T needs to update its forecast for the remaining 9 months of the financial year to comply with its bank financing convenants. There is a debate between the manufacturing department, which wants to replace some large equipment within the next six months, and the finance function, which wants to ensure that sufficient reserves have built up to fund the purchase outright rather than exploring further financing options. Which conflicting factors are the two departments debating?
Select ALL that apply.
Which THREE of the following features are associated with a delegated sourcing strategy as part of an organisation's supply network?
The process of human resources planning would involve the following: strategic analysis, forecasting, job analysis and recruitment and training. Which THREE of the following are issues relevant to forecasting?
JKL is a rapidly growing supermarket chain and is considering merging with a smaller competitor to continue its expansion plans
T works within the finance department and is assisting in the decision making process by preparing summary reports concerning the merger.
What level of decision making is T supporting?
Having the right assets and making the best use of them is crucial if an organisation is to achieve its strategies on a sustainable basis. Which of the following best describes the row of the finance function in relation to an organisation’s assets?
Capturing and utilising big data is now a key element of many organisations' value adding process. Which of the following best describes the attribute of big data velocity*?
The use of big data and smart technology by the sales and marketing function of an organisation is most likely to be associated with which of the following?
A new Team Leader in Internal Audit has been asking team members about tasks that they do not think are part of their responsibility as they go beyond compliance with legislation. You are preparing a response to this to include an explanation of the requirements of a social audit. Which of the following would you include in your response?
Select ALL that apply.
Working in the finance function of a manufacturer of baked goods, T has been asked to support the monitoring of key performance indicators (KPIs) within the operations function of the company.
Which of the following would be a suitable KPI to help measure quality costs?
Continued improvements in Information Technology have encouraged organisations to use IT increasingly to assist in their development. Which of the following is such an improvement in IT?
Which of the following organisational approaches is associated with the consistent delivery of a product or service?
A company is charging a high price for a product to individuals who are prepared to pay a premium for a new, innovative product Whilst doing this they are facing high marketing costs
Which stage of the product lifecycle is this product at?
When testing an information system before it goes live, using contrived testing will present the system with which type of data and transactions?
The directors of JES are keen to ensure that expenditure on marketing campaigns is generating additional sales for the company Which of the following KPIs would be appropriate for the directors of JES?
Data profiling forms an essential element of the extraction transformation and loading process. Which of the following best describes data profiling?
Accountants and finance professionals in the future will see the basic routine transactional work reduce with a shift to higher level skills
Which of the following best describes business acumen?
Appraisal systems involve the collection of feedback on an individual's performance from a range of sources. Which of the following sources apply to 180-degree appraisal?
Select THREE sources that apply.
AB Company has recently produced a very successful brand of washing powder which has achieved high market growth and a high market share. According to the Boston Consulting Group (BCG) matrix what is the product's next stage of development?
Which of the following is NOT a feature of a knowledge management system specific to a particular organisation?
The growth and success of virtual teams have been a result of which THREE developments becoming available to organisations?
JFD is a pet supplies retailing business.
Using customer data to build the target customer profile. JFD plans to create personalised advertising and communications more specific to customers' wants and needs in its market It is hoped that this will create interaction and responses from these customers.
Which of the following is JFD using?
Which of the following are the tasks associated with the effective management of the treasury function?
Select ALL that apply.
One of the finance function's main stakeholders provides feedback on customer responses and reviews about the organisation's products and services. Which of the following will provide this feedback?
Which THREE of the following features are likely to indicate that an organisation is following the marketing concept as a business philosophy?
Which THREE operations management issues are associated with the primary activity of inbound logistics?
Barry has heard that the government is planning to tighten environmental regulations. He doesn't like the sound of this, as even though some businesses won't be affected that much, he will have to end up paying a lot
more to run his business.
Which of the following options would be most effective in preventing the government from imposing such regulation?
Select ALL that apply.
Lancaster and Withey (2003) identifies five steps in consumer decision making. Which THREE are valid?
There are four approaches to system changeover, each of which varies in terms of risk, cost and time. When there is a need to minimise costs and time the most suitable approach would be:
'A mam stakeholder of the finance function typically enquires about the prospects of the business, alongside overall performance and feedback on the leadership team'
Which of the following stakeholders is being discussed?'
The Sales Manager has called his usual monthly meeting with his sales team and presented the monthly sales budget broken down into weekly targets for each member of the team. What type of planning is this?
Company E operates a management consultancy business with four international offices. All offices specialise in helping new businesses, with all support operations dealt with by headquarters.Which of the organisational structures below would best describe Company E.
Which one of the following is NOT part of the role of Human Resource Management?
General Data Protection Regulation (GDPR) legislation in the EU attempts to ensure that organisations follow certain principles.
Which of the following is contained in these principles?
XBY has recently started making use of big data analytics to assist in producing market predictions It is using software to process large data sets by utilising multiple servers simultaneously.
Which of the following best describes the term for this software?
Inventory control, which maintains a low level of inventory, is important to ensure which of the following?
System changeover has four approaches, each of which vanes in terms of risk. cost and time.
Select the most suitable approach for when there is a need to minimise costs and time.
A financial training company is reviewing its current HR policy in relation to the ongoing training required by all professionally qualified employees. Part of this process will also help to identify individuals suitable for promotion in the near future.
Which element of the HR cycle is described above?
Which area of a Finance Manager's job role do the following tasks fit into?
Place the appropriate role against the task.
Company XYZ has just launched an innovative technology device, designed to appeal to those consumers who want to be seen with the latest products. Which of the following pricing strategies would be most suitable at the time of the product's launch?
Which of the following is the main reason for the growing demand for Big Data by organisations?
Which of the following gives the correct combination of valid stages in the HR cycle?
Company Y is a new business that prides itself on being green and ethical. It uses renewable energy to run its factories, abides by all the rules and regulations and regularly donates money to sustainable development
charities around the world, despite occasionally being unable to fully pay its workers.
Why is Company Y in violation of Carroll's CSR pyramid?
A duplication of support functions would exist under which of the following organisational structures?
Cardboard box manufacturer Smurfat are giving their new employees an induction into the company's strategy. They see this as a crucial stage of the induction process and have asked Terrance, the communications
director, to take new employees through the strategy.
Which of the following should Terrance communicate to his new employees during their induction?
Select ALL that apply.
Which of the following are associated with the mission of an organisation?
Select ALL that apply.
Which of the following is a feature of an organisation that has adopted a sales orientation?
YZ Company has grown rapidly and has recently recruited a finance director to set up a more structured finance function. During this process care will be needed to ensure effective lines of communication between different disciplines within the whole function and to recognise the interdependencies.
Which of the following are examples of the interdependence of elements of the finance function?
Select ALL that apply.
Vladimir is the managing director of a IT repair business called Screenhax. The company has been operating for 10 years and has around 60 members of staff.
Donald, one of Vladimir employees, committed the act of 'skimming".
What did Donald do?
The board of company B, a small company, is meeting to discuss the financial year end accounts following the first year of a consolidation of operations.
Of the results provided, select whether each set of information should be reported externally or internally.
Which of the following is associated with the control aspect of the finance function?
Which TWO of the following are the responsibility of the Chief Financial Officer (CFO) in achieving the desired organisational impact?
Which type of organisation is owned by its customers, strictly speaking is a not-for-profit organisation and is in the private sector?
Which of the following is NOT an advantage of remote working for an organisation?
Which of the following are the primary objectives of a commercial organisation?
Select ALL that apply.
When considering companies which focus on more than just commercial issues, which TWO of the following would be associated as a key element of a corporate social responsibility (CSR) strategy?
Which of the following is NOT a feature of a strategic level information system?
Which one of the following structures primarily suits a nationwide business with three product lines; for example, soup, condiments and baby food?
TESTED 17 May 2024
