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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?
LFN is a tuition provider
The finance function has recently migrated all accounting systems onto cloud software which is expected to considerably streamline the existing systems.
The Managing Director is keen to promote the benefits of the new software in terms of increased accuracy of reporting and availability of real time management information.
However, the Finance Director has concerns and is feeling pressured to keep quiet about the ability of the technology to achieve all that is expected
Which of the following ethical principles is highlighted within LFN?
When testing an information system before it goes live, using contrived testing will present the system with which type of data and transactions?
There are several inter-related activities thought critical in implementing internal marketing. Which THREE are valid?
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?
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?
A main stakeholder of the finance function would typically provide feedback on the clarity and value of information used: in order to make better strategic decisions.
Which of the following would give this feedback?
A new manufacturing firm has been growing very rapidly. Both its output and hired staff have increased dramatically, and it's looking like the business will have to physically expand sometime in the near future.
The company's managing director decides to outsource the payroll of the business to an external provider.
What are his likely reasons for making this decision?
A company sells double glazed windows. It has traditionally adopted a sales orientation and used aggressive direct selling techniques. As part of a new initiative, it is exploring its options to update its business philosophy.
Which of the following would be the most effective orientation for this business?
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?
Data warehousing is an essential element of the extraction transformation and loading process.
Which of the following best describes data warehousing?
A duplication of support functions would exist under which of the following organisational structures?
Which of the following is an advantage of a functional organisational structure?
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?
132b039e-24c5-4309-a196-3cc86243b4c6: The marketing environment includes at a macro level:
Place 'Management accountant' or 'Financial accounant' next to each of the following statements according to which applies.
A management accountant vacancy has arisen in the Finance Department of HJ Company. The Finance Manager is preparing the necessary paperwork for the recruitment process and is currently working on the person specification. He has contacted the company's Human Resource Department to ask for advice on which THREE of the following he should include in the person specification:
Which TWO of the following are important aspects of the product in the marketing mix?
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?
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?
At his recent appraisal CD discussed his development needs with PQ, his line manager. In particular CD has said that he would like the opportunity to take on more responsibility. Which of the following job design techniques could PQ use to support CD's development?.
Which of the following is NOT an element of the system development life cycle?
DTR is a publishing company specialising in the production of technical journals and product specifications
Because of the volumes of information required to run the business effectively, the finance function of the company is considering migrating to cloud based technologies.
Which of the following is most likely to be a benefit of such a move for the company?
Shortly after starting his new role within R, Q begins to suspect that the training opportunities he was offered at interview are unlikely to materialise. Upon discussing his concerns with his manager, Q is made to feel as though his expectations regarding training opportunities were unrealistic as everything included within his employment contract had been honoured. Which of the following applies to the above situation?
H works in an organisation that supplies advertising space in prominent areas in inner cities. She frequently works at client premises with limited time spent at the office headquarters. H's colleagues also work in the same manner and the organisation has reduced office space as most employees are not in the office all at the same time. Instead, a bank of work stations are provided for sales staff with telephones and internet connections. Which of the following working arrangements is described above as being provided by the organisation?
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 best outlines the shift to higher level' skills anticipated to be fundamental to future accountants'?
Which of the following is associated with the control activity of the finance function?
Company A works closely with its customers, suppliers and other business partners. It securely shares part of its private network with this group of stakeholders
Which of the following best describes the type of network that Company A operates?
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?
Which of the following best describes the 'passive stage' of purchasing?
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?
A facilities management company sells to local councils.
Which THREE of the following are appropriate methods of marketing?
The marketing environment includes political, economic, social, technological, ecological and legal factors affecting marketing (PESTEL). Select THREE examples of economic factors.
Which of the following are examples of a parallel changeover?
Select ALL that apply.
Which of the following is a possible disadvantage associated with a matrix structure?
Which of the following provides the best description of an intranet?
Which of the following would specifically be an example of the use of the marketing concept by a charity?
Fusion is predicted as one of the characteristics to define the Fourth Industrial Revolution.
What is meant by fusion' in the context of the Fourth Industrial Revolution?
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?
A Company is considering to outsource its accounts payable According to the transaction cost theory of Williamson and Coase, which of the following involve activities and costs associated with policing and enforcing the agreement with the service provider?
An entity has several subsidiaries including F, which has an urgent staffing issue. The Financial Controller of F is due to start her maternity leave in 3 weeks time and there is currently a recruitment freeze in place to curtail employment costs. Human Resources needs to resolve the issue of covering the Financial Controller's position on a temporary basis. Which TWO of the options below will be suitable in these circumstances?
You need to select potential candidates for the role of an office manager in a very busy office. An assessment centre has been organised to overcome the shortcomings associated with other selection techniques. Which of the following activities would be most suitable to assess candidates for the role of Office Manager?
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.
Which TWO of the following tasks is associated with a Finance Department's Management Accounting section?
In a new initiative, Company O has been putting a lot of emphasis on internal awareness of Corporate Social Responsibility and creating value for it's stakeholders. A huge part of this has been about focusing on recycling and making departments accountable.
In order to assist with the achievement of goals in this area, a process has been designed to give some structure to measuring value for each department. Each of the process elements are listed below. Place the steps against each of these to indicate the correct sequence.
Y has recently been appointed as the head of a large charity. This is the first not-for-profit organisation that she has been involved with, having gained most of her experience in large retail organisations. She wants to make sure that she understands the differing objectives of her new employer.
Which THREE of the objectives below would be most likely associated with a not-for-profit organisation?
Which of the following is the component of Hadoop which is responsible for breaking down a task into chunks of work and allocating them?
Which TWO of the following are non-incorporated organisations?
Which of the following is the main reason for the growing demand for Big Data by organisations?
K manages the finance function of a cable manufacturing business In order to cope with an increasingly diverse workload K needs human resources to recruit someone with a digital mindset
Which THREE of the following individual charactenstics should K emphasise to human resources as important in finding the right candidate?
Which of the following do working capital reports include?
A business is seeking to introduce TQM. It gets some advice from a business consultant on how to ensure it is successful in its implementation. Which of the following are likely to be included in the advice they receive?
Select ALL that apply.
L is employed within a startup organisation that has limited funds. The organisation is a firm of lawyers specialising in all legal fields, such as family law, property law, commercial law and litigation. Due to the relative infancy of the organisation, and restrictions on funds, they have to be prudent with their choice of information systems. They have all the IT they need for staff but the agreed best way to build the business has been to focus on building their client and prospective client base. Which of the following should the organisation invest in to help achieve this aim?
TRA is a multinational company which generates large quantities of data across its various operating divisions, from which it produces a range of management reports.
Which technological benefit of artificial intelligence is most likely to be of use to the company?
Which THREE of the following areas would be improved by an organisation using a Customer Relationship Management (CRM) system?
Inventory control, which maintains a low level of inventory, is important to ensure which of the following?
'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?'
Which of the following effects on tax is a benefit of the implementation of Corporate Social Responsibility (CSR) strategies?
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?
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?
Organisation Z distributes beauty products to retailers and salons. As part of the operations management function, demand is forecasted from historical sales records. The marketing department, on the other hand, has predicted temporary higher levels of demand due to a recent popular advertising campaign.
Which capacity planning technique is appropriate?
Lancaster and Withey (2003) identifies five steps in consumer decision making. Which THREE are valid?
Which THREE of the following describe the role process maps can play in an organisation?
Which THREE of the following features are likely to indicate that an organisation is following the marketing concept as a business philosophy?
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?
Which of the following are types of connected stakeholders? Select ALL that apply.
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 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.
Which of the following are advantages of outsourcing finance? Select ALL that apply.
In which THREE of the following situations is Cloud a sensible IT strategy?
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?
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.
Company Q has several layers of management. The Chief Executive Officer (CEO) wishes to remove some of these layers to streamline the organisation and increase efficiencies. The initial plan is for third party contractors to take over support activities. What change in the organisation is the CEO making?
Which of the following is a disadvantage of virtual operations?
The Finance function of XZY company, which is based in the UK. are planning how they can minimise the corporation tax costs
Which of the following is correct?
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?
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?
Which one of the following is NOT part of the role of Human Resource Management?
One of the key corporate governance factors within an organisation is that of responsible planning and management of resources. This is often referred to as stewardship. Whilst this is the responsibility of all directors, financial resources are overseen by the financial director. The finance department, under the direction of the financial director, issues weekly staff performance reports to line managers and department heads, annual statistical information to local government departments and quarterly high level results statements to shareholders. Why is stewardship such an important responsibility of company directors and the finance function?
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?
A manufacturing company had major issues with quality standards and as a result received a number of complaints from its customers.
Due to this the company's senior management has considered some new objectives for the business.
Which of the following comply with all requirements of a SMART objective and will help to overcome this issue?
Select ALL that apply.
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?
M has a new job working in the finance function of HKF. a chain of hotels. At M's interview, new job working in the finance function of HKF. a chain of hotels emphasis on connecting the different activities in the organisation.
Which of the following is an example of connecting the different activities in an organisation'?
The finance function of Company E are considering using blockchain technology for its ledger systems Which of the following will be an advantage of introducing this technology?
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.
Which of the following will mean a company has breached a General Data Protection Regulation (GDPR) principle'?
Company T operates a highly automated manufacturing system. It is computer controlled to promote efficiency and effectiveness and is capable of producing a large number of parts in a flexible manner.
The main advantage this brings to Company T is that dedicated output can be produced quickly in response to customer orders so that the organisation can give very high levels of customer service.
Which system of operational capacity is Company T using?
SSS has adopted some outsourcing practices in order to improve efficiency of its operations. One of the managers has been made aware that the supplier is now also working for a competitor. Which TWO of the following should SSS be concerned with regarding the supplier's and ompetitor's new relationship?
There are various roles within the finance and accounting function. A trainee accountant first joining the profession can take some time learning the different aspects of each before making a decision on specialising in any particular direction.
Below are different components of the finance function. Match these with the examples of responsibilities listed.
Cloud computing is a growing IT strategy In which THREE of the following situations would this be a sensible IT strategy?
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?
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.
Which type of organisation is owned by its customers, strictly speaking is a not-for-profit organisation and is in the private sector?
Offshoring may be successful when which of the following applies?
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?
Stephanie has just secured a job as a management accountant for a well-known banking firm. She needs to understand the organisation's financial position.
What should she do first in order to gain this understanding?
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?
Company V is, and has always been, very focused on the importance of stakeholders to the business.
As a well known and very popular private fee-paying school, Company V has to take on board advice, feedback, complaints and queries from a great many different stakeholders, all of which have to be prioritised according to their impact and power over the operations of the company.
Listed below are some of the stakeholders that Company V deal with on a daily basis. Categorise each of these stakeholders according to whether they are internal, connected or external stakeholders.
A is developing a new mission statement. Which TWO of the following should NOT be included?
