Professional Body: ICA (Ghana)

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PSAF – Nov 2020 – L2 – Q3a – The Budgeting Process in the Public Sector

Explain the factors militating against the budgeting system in the public sector.

Question

The budgeting process is a cycle of events which occur sequentially every
year and which results in the approved budgets in ministries and extra ministerial departments.

Required:
Explain five factors militating against the budgeting system in the public sector.

Answer

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Tags: Budget Process, Government Expenditure, Public Sector Budgeting
Level: Level 2

Topic: The Budgeting Process in the Public Sector
Series: NOV 2020

BMIS – Nov 2019 – L1 – Q1a – The Business Organization and its Stakeholders

Explain three business types available to individuals venturing into business.

Question

Kofi Stone, Ama Black and Adwoa Sika who were your students at the Ultimate Business School have decided to venture into business after their National Service which ends in the next three months. They have approached you for your advice on the type(s) of business(es) which they should invest in, considering the country’s economic environment.

Required:
Explain THREE (3) business types available to them. (6 marks)

Answer

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Tags: Business Types, Limited Liability Company, Partnership, Sole Proprietorship
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: NOV 2019

BMIS – Nov 2019 – L1 – Q1c – Organization culture in business

Explains centralization, decentralization, and three advantages of decentralization for a company.

Question

At the last Management meeting of Cool Hearts Ltd, which is a fast-moving consumer product firm with outlets throughout the country, it came out that sales and other targets were being missed as a result of the failure of top managers to involve subordinates in decision-making. You have just joined the company as an Organizational Analyst and have decided to submit a proposed solution to the problem to your Board at its next meeting to be held in two weeks’ time.

Required:
Explain the following:
i) Centralization (2 marks)
ii) Decentralization (2 marks)
iii) THREE (3) advantages Cool Hearts Ltd would gain from decentralizing its operations. (6 marks)

Answer

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Tags: Centralization, Decentralization, Decision Making, Management Decisions, Organizational Structure
Level: Level 1

Topic: Organisation culture in business
Series: NOV 2019

BMIS – Nov 2019 – L1 – Q1b – Characteristics of a Private Limited Company

Explain two characteristics of a private limited liability company.

Question

Explain TWO (2) characteristics of a Private Limited Liability Company. (4 marks)

Answer

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Tags: Company Characteristics, Private Limited Liability
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: NOV 2019

BMIS – Nov 2019 – L1 – Q2ai – Leadership Definition

Explain the term leadership in relation to its influence on group behavior.

Question

Explain the term Leadership. (2 Marks)

Answer

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Tags: Group Dynamics, Influence, Leadership
Level: Level 1

Topic: Management and leadership
Series: NOV 2019

BMIS – Nov 2019 – L1 – Q2aii – Theories of Leadership

Explain the Trait, Style, and Contingency Theories of Leadership.

Question

Explain the following Theories of Leadership:

Trait (3 Marks)
Style (3 Marks)
Contingency (3 Marks)

Answer

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Tags: Contingency Theory, Leadership Theories, Style Theory, Trait Theory
Level: Level 1

Topic: Management and leadership
Series: NOV 2019

BMIS – Nov 2019 – L1 – Q2bi – Extrinsic Rewards

Explain extrinsic rewards in relation to employee motivation.

Question

Explain the following in relation to the motivation of employees:
i) Extrinsic rewards (2 Marks)

Answer

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Tags: Employee Compensation, Motivation, Rewards
Level: Level 1

Topic: Motivation
Series: MAY 2019, NOV 2019

BMIS – Nov 2019 – L1 – Q2bii – Intrinsic Rewards

Explain intrinsic rewards in relation to employee motivation.

Question

Explain the following in relation to the motivation of employees:
ii) Intrinsic rewards (2 Marks)

Answer

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Tags: Job Satisfaction, Motivation, Psychological Rewards
Level: Level 1

Topic: Motivation
Series: NOV 2019

BMIS – NOV 2019 – L1 – Q3a – Mission Statement

Write a mission statement for Hard Leather Limited, a footwear manufacturing company with products for middle and upper classes.

Question

a) Hard Leather Limited is a footwear manufacturing company with a wide range of products for middle and upper classes.

Required: Write a mission statement for the company. (5 marks)

Answer

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Tags: Company objectives, Mission Statement, Strategic Planning
Level: Level 1

Topic: Introduction to Business Strategy
Series: NOV 2019

BMIS – NOV 2019 – L1 – Q3b – Mission Statement Reasons

Explain four reasons for developing a mission statement for Hard Leather Limited, a footwear manufacturing company.

Question

Explain FOUR (4) reasons for developing a mission statement for the company. (10 marks)

Answer

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Tags: Mission Statement, Organizational Objectives, Policy formulation, Resource Allocation, Strategic Planning
Level: Level 1

Topic: Introduction to Business Strategy
Series: NOV 2019

SCS – Nov 2019 – L3 – Q2a – Financial management

Analyze the financial performance of Ghanalux in 2018 and its effect on the bank overdraft.

Question

i) Analyze the financial performance of Ghanalux in 2018 to determine the extent to which the continuing large bank overdraft is attributable to profitability issues, cash flow management issues, or a combination of both.

ii) Prepare a forecasted cash flow statement for Ghanalux in 2019 to determine the likely bank balance or bank overdraft at the end of 2019. Assume the financial relationships and ratios are largely maintained from 2018 to 2019.

iii) iii) Recommend measures to improve the cash flow of the company.

(20 marks)

Answer

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Tags: Cash flow improvement, Working Capital Management
Level: Level 3

Topic: Financial management
Series: NOV 2019

SCS – Nov 2019 – L3 – Q1d – Controlling risk

Recommend internal controls to improve customer safety and service at Ghanalux.

Question

Recommend internal controls that might be implemented by the company to improve customer safety and security, and to deal with the problems of poor service to customers.
(7 marks)

Answer

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Tags: Customer safety, Internal Controls, Risk Management, Service Quality
Level: Level 3

Topic: Controlling Risk
Series: NOV 2019

SCS – Nov 2019 – L3 – Q1c – Methods of development

iscuss the strategic alliance proposal between Ghanalux and Sunlit Hotels.

Question

i) Discuss the issues that should be considered when responding to proposals for a strategic alliance between Ghanalux and Sunlit Hotels.
(7 marks)

ii) Discuss the issues that should be considered when responding to proposals for a business combination with the tour company in Kumasi.
(7 marks)

Answer

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Tags: Acquisition, Business combination, Kumasi tour company, Merger, Partnership, Strategic Alliance, Sunlit Hotels, Tourism
Level: Level 3

Topic: Methods of Development
Series: NOV 2019

SCS – Nov 2019 – L3 – Q1b – Competitive Advantage

Discuss the competitive advantage of Ghanalux in the tourism industry.

Question

i) Discuss what you consider to be the main competitive advantage of Ghanalux in its industry.
(5 marks)

ii) Discuss how a balanced scorecard approach to performance measurement might help Ghanalux to improve its profitability.
(3 marks)

iii) Recommend performance measures that might be used by Ghanalux if it adopts a balanced scorecard system.
(8 marks)

Answer

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Tags: Competitive Advantage, Ghanalux, Tourism
Level: Level 3

Topic: Competitive Advantage
Series: NOV 2019

: SCS – Nov 2019 – L3 – Q1a – Environment analysis

Analyze the competitive disadvantage of Ghana’s tourism industry using Porter’s Diamond model.

Question

i) Discuss the view that the tourism industry in Ghana might currently be at a disadvantage and under-developed compared to other countries.
Note: Use Porter’s Diamond to structure your answer.
(8 marks)

ii) Assess the two suggestions about expanding the business of Ghanalux outside Ghana and into conferencing, from the perspective that strategy should be suitable, feasible, and acceptable.
(6 marks)

Answer

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Tags: Competitive Advantage, Ghana, Porter’s Diamond, Tourism
Level: Level 3

Topic: Environment analysis
Series: NOV 2019

SCS – MAR 2024 – L3 – Q6c – Strategy, stakeholders, and mission

Describe and explain the four broad roles of NEDs identified in the Higgs Guidance (2003).

Question

Prestige’s Board acknowledges that by adopting and implementing the highest standards of
corporate governance, this sets the standards and values for the entire Company. The
Company seeks to comply with best practice in all areas of corporate governance and
continues to review the Company’s procedures to maintain proper control and
accountability.
Required

There are nine members on Prestige’s Board of Directors. They include the Chairman, Chief Executive, three executive directors, and four non-executive directors (NEDs). Describe and explain four broad roles for NEDs identified in the document published in the UK in 2003, known as the Higgs Guidance.

Answer

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Tags: Accountability, board roles, Corporate Governance, Non-Executive Directors
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: MAR 2024

SCS – MAR 2024 – L3 – Q6b – Strategy, stakeholders, and mission

Explain how Principles V and VI of the OECD Principles of Corporate Governance could be applied at Prestige.

Question

Describe and explain how Principles V and VI of the OECD Principles of Corporate Governance – 2015 Edition, could be applied at Prestige to ensure good corporate governance practices.

Answer

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Tags: Accountability, Corporate Governance, OECD principles, Transparency
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: MAR 2024

SCS – MAR 2024 – L3 – Q6a – Strategy, stakeholders, and mission

Describe and explain 5 key issues in corporate governance for Prestige.

Question

Prestige’s Board acknowledges that by adopting and implementing the highest standards of corporate governance, this sets the standards and values for the entire Company. The Company seeks to comply with best practices in all areas of corporate governance and continues to review its procedures to maintain proper control and accountability.

Required:
Describe and explain five key issues in corporate governance that would establish how well or badly Prestige is governed.

Answer

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Tags: Accountability, Board Structure, Corporate Governance, Transparency
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: MAR 2024

SCS – MAR 2024 – L3 – Q5c – International financial management

Evaluate the factors restricting foreign investment despite potential good returns.

Question

With reference to Option Three, evaluate the factors that restrict foreign investment despite the perceived potential for good returns.

Answer

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Tags: Barriers, Foreign Investment, international markets, Risk Assessment
Level: Level 3

Topic: International financial management
Series: MAR 2024

SCS – Nov 2020 – L3 – Q8 – Financial management

Calculate operating and financial gearing for GGOH and assess how these ratios impact investor decisions.

Question

Assume a 10% interest on the outstanding loan and 22% Corporate Tax.

Required:
i) Calculate the operating gearing and financial gearing for GGOH. (5 marks)

ii) Assess how these ratios could impact an investor’s decision to invest in GGOH. (5 marks)

Answer

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Tags: Corporate finance, Financial Gearing, Investor decision, Operating Gearing, Ratio Analysis
Level: Level 3

Topic: Financial management
Series: NOV 2020

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PSAF – Nov 2020 – L2 – Q3a – The Budgeting Process in the Public Sector

Explain the factors militating against the budgeting system in the public sector.

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BMIS – Nov 2019 – L1 – Q1a – The Business Organization and its Stakeholders

Explain three business types available to individuals venturing into business.

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BMIS – Nov 2019 – L1 – Q1c – Organization culture in business

Explains centralization, decentralization, and three advantages of decentralization for a company.

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BMIS – Nov 2019 – L1 – Q1b – Characteristics of a Private Limited Company

Explain two characteristics of a private limited liability company.

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BMIS – Nov 2019 – L1 – Q2ai – Leadership Definition

Explain the term leadership in relation to its influence on group behavior.

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BMIS – Nov 2019 – L1 – Q2aii – Theories of Leadership

Explain the Trait, Style, and Contingency Theories of Leadership.

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BMIS – Nov 2019 – L1 – Q2bi – Extrinsic Rewards

Explain extrinsic rewards in relation to employee motivation.

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BMIS – Nov 2019 – L1 – Q2bii – Intrinsic Rewards

Explain intrinsic rewards in relation to employee motivation.

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BMIS – NOV 2019 – L1 – Q3a – Mission Statement

Write a mission statement for Hard Leather Limited, a footwear manufacturing company with products for middle and upper classes.

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BMIS – NOV 2019 – L1 – Q3b – Mission Statement Reasons

Explain four reasons for developing a mission statement for Hard Leather Limited, a footwear manufacturing company.

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SCS – Nov 2019 – L3 – Q2a – Financial management

Analyze the financial performance of Ghanalux in 2018 and its effect on the bank overdraft.

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SCS – Nov 2019 – L3 – Q1d – Controlling risk

Recommend internal controls to improve customer safety and service at Ghanalux.

You're reporting an error for "SCS – Nov 2019 – L3 – Q1d – Controlling risk"

SCS – Nov 2019 – L3 – Q1c – Methods of development

iscuss the strategic alliance proposal between Ghanalux and Sunlit Hotels.

You're reporting an error for "SCS – Nov 2019 – L3 – Q1c – Methods of development"

SCS – Nov 2019 – L3 – Q1b – Competitive Advantage

Discuss the competitive advantage of Ghanalux in the tourism industry.

You're reporting an error for "SCS – Nov 2019 – L3 – Q1b – Competitive Advantage"

: SCS – Nov 2019 – L3 – Q1a – Environment analysis

Analyze the competitive disadvantage of Ghana’s tourism industry using Porter’s Diamond model.

You're reporting an error for ": SCS – Nov 2019 – L3 – Q1a – Environment analysis"

SCS – MAR 2024 – L3 – Q6c – Strategy, stakeholders, and mission

Describe and explain the four broad roles of NEDs identified in the Higgs Guidance (2003).

You're reporting an error for "SCS – MAR 2024 – L3 – Q6c – Strategy, stakeholders, and mission"

SCS – MAR 2024 – L3 – Q6b – Strategy, stakeholders, and mission

Explain how Principles V and VI of the OECD Principles of Corporate Governance could be applied at Prestige.

You're reporting an error for "SCS – MAR 2024 – L3 – Q6b – Strategy, stakeholders, and mission"

SCS – MAR 2024 – L3 – Q6a – Strategy, stakeholders, and mission

Describe and explain 5 key issues in corporate governance for Prestige.

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SCS – MAR 2024 – L3 – Q5c – International financial management

Evaluate the factors restricting foreign investment despite potential good returns.

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SCS – Nov 2020 – L3 – Q8 – Financial management

Calculate operating and financial gearing for GGOH and assess how these ratios impact investor decisions.

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