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?
N is working on a project management team for the first time and is aware that there are distinct stages that follow on consecutively in the project management process However, N is unsure of the exact order of these stages
Which of the following indicate the project management stages in the correct order?
Lancaster and Withey (2003) identifies five steps in consumer decision making. Which THREE are valid?
The coherent approach for organising, governing, analysing and deploying an organisations' information assets' Which of the following does the above statement describe?
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.
Inventory control, which maintains a low level of inventory, is important to ensure which of the following?
Which of the following technologies is described as a decentralised, distributed and public digital ledger that is used to record transactions across many computers?
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?
C's company wants to increase socially responsible cost effective practices across it's supply chain
C who is a member of the finance function has been asked to see how this can be achieved and is going to use the 'information to impact framework* to do this.
Which of the following is the correct order in which the required activities will need to be earned out?
Data science is increasingly important in the production of business focused data It consists mainly of experts with backgrounds in mathematics, programming and computer science
Which of the following best describes the attributes of a data scientist?
Assessment centres can use a range of techniques to assess an applicant's competencies against pre-set criteria. Which document would set out the competencies required for them to compare against?
Which of the following would be a disadvantage of the use of 'big data'?
Company Y is looking into relocating its production from Country P to neighbouring Country O. After researching the cost of production, this move gives the benefit of reduced material and labour costs which more than off-set the costs of transferring the finished goods back into Country P for sale. The decision to relocate the production is classified as which of the following options?
Which of the following effects on tax is a benefit of the implementation of Corporate Social Responsibility (CSR) strategies?
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 a disadvantage of using the internet, (E-marketing), to sell products?
Which of the following best describes the 'passive stage' of purchasing?
Which of the following is important when considering the 'Promotion' element of the marketing mix?
Place 'Management accountant' or 'Financial accounant' next to each of the following statements according to which applies.
Which of the following is an advantage of a functional organisational structure?
Candidate testing often forms part of the selection process. XYZ is currently looking to recruit a Financial Analyst possessing advanced spreadsheet skills. You have been asked to devise a suitable selection test. Which of the following tests would be the most suitable?
XY Company has just completed a consumer survey which has produced large quantities of data regarding its products. Which of the following is NOT relevant in the processing of this data?
Which TWO of the following are activities associated with setting up a new IT system?
Level one of the contemporary shape of the finance function involves strategic leadership of the finance team. The head of the finance function is.
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?
XYT company is planning to update its IT and have asked the finance function to assist by establishing suitable key performance indicators (KP1). Which of the following is an example of a suitable KPI for strategic activities'?
M is employed by an organisation that operates a chain of high street coffee shops. She has made a decision to purchase a failing cake shop in order to take it over and expand the presence of the organisation in the local area. According to Mintzberg, which part of the organisation does M belong to?
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*?
Which THREE of the following features are likely to indicate that an organisation is following the marketing concept as a business philosophy?
Cloud computing is a growing IT strategy In which THREE of the following situations would this be a sensible IT strategy?
R works in the finance function of TX Company, a large multinational vehicle manufacturer.
Most of R's work involves shaping how the company creates and preserves value by using effective controls.
Which of the following activities is R most likely to be involved with?
Which of the following is a reason why businesses need to prepare statutory reports?
Which of the following is NOT one of the "three V's" of Big Data?
Which of the following do working capital reports include?
One of the characteristics of Big Data is velocity. Which of the following most accurately defines what this means?
MN College (limited by guarantee) aims to ensure that each student achieves their qualification and gains employment. Which THREE of the following are suitable measures of performance for MN College?
In a manufacturing company, it is important to maintain the correct levels of inventory, with particular attention to holding and ordering costs. For each of the types of costs listed below, identify whether these are holding costs or ordering costs:
The secondary objectives of a not-for-profit organisation are economy, efficiency and effectiveness.
Which of the following gives the correct description of each of these?
A
Economy: Controlling costs.
Efficiency: Achieving objectives at minimum cost
Effectiveness A measure of achievement by reference to objectives
B
Economy Achieving objectives at minimum cost
Efficiency: A measure of achievement by reference to objectives
Effectiveness Controlling costs.
C
Economy: Controlling costs.
Efficiency: A measure of achievement by reference to objectives.
Effectiveness: Achieving objectives at minimum cost.
D
Economy: Achieving objectives at minimum cost.
Efficiency: Controlling costs.
Effectiveness A measure of achievement by reference to objectives
Which of the following is a feature of an organisation that has adopted a sales orientation?
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.
Which of the following is a benefit to the employer of remote working?
Following scandals such as Enron and legislation such as Sarbannes-Oxley in the US, the emphasis of the finance function of many entities has changed. This has led to which of the following?
TTT plc has recently been responsible for a major environmental accident. As a result the management of the company wishes to set up a large fund to compensate stakeholders affected. The company has a significant number of institutional shareholders which own a large share of the company, as well as many individual investors.
The management is considering Mendelow's Matrix to determine the likely movement of the institutional shareholders during the change in strategy. What is the institutional shareholders' likely movement according to Mendelow?
Which of the following best defines Business Process Re-engineering (BPR)?
When testing an information system before it goes live, using contrived testing will present the system with which type of data and transactions?
Which THREE of the following describe the role process maps can play in an organisation?
Which of the following statements best describes quantitative information?
Which of the following would work as Support Staff in Mintzberg's organisational structure?
Which of the following is an example of sustainability impacting operations management?
Simone is a management accountant at a jewellers called ShinyShiny. She is currently conducting operational reporting for them.
Which of the following will Simone not discover during her operational reporting?
Select ALL that apply.
AB Company operates a capital intensive production process and cannot quickly add capacity. Which of the following best describes this production strategy?
Finance business partners are seen as leaders that can influence the decisions that businesses make. Which of the following best describes their role in this process?
Which of the following is a primary objective of a not-for-profit organisation?
Which of the following can facilitate innovation within an organisation?
Select ALL that apply.
Which of the following does the Data Protection Act 1998 attempt to protect?
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?
Which of the following will mean a company has breached a General Data Protection Regulation (GDPR) principle'?
Which TWO of the following statements are NOT aims of a reward system?
A cut-flower production business has peaks of demand around special days in the year that celebrate religious festivals. Which of the Four Vs of operations is being described in the above scenario?
In order to understand the potential for conflict over the functioning of a finance department, B organisation's new Chief Financial Officer has prepared a power/interest (Mendelow) matrix. How should the Chief Financial Officer treat groups with high levels of interest but relatively low power when determining the role of the function?
A high volume operation is likely to be characterised by which of the following?
At which stage of a systems development lifecycle is systems architecture considered?
Which of the following does NOT help to bring about operational improvement in the manufacturing process of an organisation?
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.
M works for an organisation that adopts the principle of a total reward package for high achieving employees. The organsiation recognises that there are more things to motivate staff than cash remuneration alone. M is striving for promotion and has been promised a company car and prominent car parking space at the front of the office if he achieves it. Which of Maslow's needs is being identified in the scenario above?
Which one of the following is NOT part of the role of Human Resource Management?
The development of technical maps of rules and data structures would be part of which level of a data modelling process?
Company P is a recruitment agency specialising in placing accountancy and legal personnel in employment. A large part of the role of the agency is to meet the prospective individuals in order to ensure they are placed in the most appropriate roles.
Which THREE elements of the marketing mix relate specifically to the type of business described, to a greater extent than would apply to a manufacturing company?
It can be said that ethics is a set of moral principles underpinning the concept of right and wrong. Whether an action is actually right or wrong depends on which of the following?
Select ALL that apply.
Which of the following are advantages of a virtual team?
Select ALL that apply.
Karl runs a factory. He wants his employs to feel that their role in the company has meaning.
Which of the following would help to make his employees feel this way?
AB Company is planning to produce a new product which will require an extra shift to be worked in its factory, and needs to know if the sales expected will cover the extra cost of manufacture. Which of the following financial processes will be used to calculate this?
Which of the following would specifically be an example of the use of the marketing concept by a charity?
XY is a small software development company. Which of the following are most likely to assist the organisation in facilitating innovation?
Select ALL that apply.
Which of the following are types of primary research? Select ALL that apply.
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?
Which of the following is a disadvantage of outsourcing?
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?
Running shoe manufacturer Bo Joggs have a long established method to ensure their product is right first time. The aim is to reduce the amount of quality checking. Internal processes and procedures are closely
monitored so that the running shoes are of the highest standard before going to market.
What are Bo joggs likely to do to ensure this quality is maintained?
Select ALL that apply.
Company P has had a recent IS/IT audit and weaknesses were highlighted within the privacy and security section of the report. Which TWO of the following would be classed as general controls of privacy and security?
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?
YKF is a manufacturer of candles with world-wide operations.
The finance department within YKF has recently adopted the use of accounting systems that are hosted and operated by an external provider, instead of being in-house.
The technology allows different users to access elements of the accounting software, regardless of location, through either an internet browser or an app on their mobile device
What technology has YKF adopted to make its accounting software more flexible?
The finance function has an important role in the management of performance and the achievement of the organization’s plans and budgets.
Which of the key roles of the finance function does this best describe?
Which THREE of the following areas would be improved by an organisation using a Customer Relationship Management (CRM) system?
Which of the following are the primary objectives of a commercial organisation?
Select ALL that apply.
One of the roles of the finance function is to help deploy solutions. Which activity of the "information to impact" framework is this a part of?
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?
Which THREE of the following suggest an independent approach to organisational purchasing according to Reck and Long?
T is employed as an HR manager for a chain of hotels. A large part of her role is to assist the HR director with forecasting personnel requirements for the next one, three and six month periods respectively.
Which TWO of the following factors should be taken into consideration when forecasting personnel requirements?
In which THREE of the following situations is Cloud a sensible IT strategy?
Which TWO of the following key business areas can a standard cost record assist with?
Which of the following is a potential advantage of outsourcing?
Which of the following is NOT a component of the working capital cycle?
M works in the finance function of S Company, a logistics and distnbution organisation
M has been asked to assist in narrating how the company has performed by collating the regular six monthly review for distribution to shareholders
Which of the following finance function activities best describes the activities M is likely be involved in?
AcrossThePond is a ferry company that has just slashed their prices for trips scheduled to Europe between August and November - they are now almost half as cheap!
Why would AcrossThePond do this?
Select ALL that apply.
Mr W wants to replace the family car. The cost of repair is becoming prohibitive so he has agreed with his wife to buy a new vehicle.
Put the tokens below in the correct order to demonstrate the stages in the buying process, according to Lancaster and Withey.
General Data Protection Regulation (GDPR) was introduced throughout the EU in 2018. The legislation details several principles about data and the requirement for data controllers.
Which of the following best describes the role of data controllers?
According to Ansoff, which of the following marketing strategies should be adopted when introducing an existing product to a new market?
Which of the following is an example of a computerised system that is used to plan production requirements of raw materials, work-in-progress and finished goods?
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?
