software development – NBC Institute

MI – May 2023 – L1 – SB – Q4c – Information Systems

This question asks for the definition and examples of open source software.

Question

What is “open source software”? State TWO examples.

Answer

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Tags: Open Source Software, software development, Technology
Level: Level 1

Topic: Information Systems
Series: MAY 2023

MI – May 2017 – L1 – SB – Q5c -Computer Hardware, Software, and Data Life Cycle

Advantages and disadvantages of using tailored software in an organization.

Question

State THREE advantages and THREE disadvantages of using tailored software to an organisation.

Answer

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Tags: Custom Software, software development, Tailored Software
Level: Level 1

Topic: Computer Hardware, Software, and Data Life Cycle
Series: MAY 2017

FR – Mar 2023 – L2 – Q2c – Financial Reporting Standards and Their Applications

Calculation of deferred tax liability considering temporary differences in various assets and liabilities, including tax base and carrying values.

Question

The Financial Accountant of Abodie Ltd is finalising the financial statements of Abodie Ltd for the year ended 31 August 2021. The following items are being considered for deferred tax purposes:

At year end, Abodie Ltd’s property, plant & equipment had a tax base and carrying value of GH¢72 million and GH¢95 million, respectively.
The company’s provision for decontamination costs was GH¢11 million (appropriately discounted) at the year end. Decontamination costs are tax deductible when paid.
The company had inventory with a carrying value of GH¢24 million. This did not agree with the tax base because of a GH¢3 million write-down for obsolete items. Tax relief is only granted for inventories upon sale.
The company incurred GH¢15 million in respect of new software development during the year, which was capitalised and will be amortised over the next 5 years. Full year’s charge is required in the first year of completion or purchase. This cost was deducted in the current year for tax purposes. The company is liable for income tax at 30%.

Required:

Compute the company’s deferred tax liability at 31 December 2021.

Answer

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Tags: Deferred Tax, Inventory Write-down, Property, software development, Tax Base, Temporary Differences
Level: Level 2

Topic: Financial Reporting Standards and Their Applications
Series: MAR 2023

MA – May 2019 – L2 – Q3b – Relevant cost and revenue

Explain lifecycle costing and calculate the cost per unit of software considering the entire lifecycle.

Question

Oria Software Ltd, a computer software company, is developing a new accounting package, “Future Accounting”. The following are the budgeted amounts for the product over a four-year product life-cycle:

Year	Year 0	Year 1	Year 2	Year 3	Year 4
Estimated quantity in units	3,500	5,000	2,000	500
	GH¢	GH¢	GH¢	GH¢	GH¢
Research & Development costs	360,000
Design costs	240,000	250,000
Production costs:
Variable cost per unit		42	35	35	40
Fixed costs	150,000	150,000	120,000	100,000
Marketing costs:
Variable cost per unit		40	35	10	22
Fixed costs	30,000	20,000	12,000	15,000
Distribution costs:
Variable cost per unit		20	22	18	10
Fixed costs	50,000	60,000	40,000	30,000
Customer service costs:
Variable cost per unit		8	12	14	10
Fixed costs	80,000	85,000	45,000	–

To be profitable, Oria Software Ltd must generate revenues to cover costs for all six business functions taken together and, in particular, its high non-production costs. The company has therefore proposed a selling price of GH¢250 per software over the entire product life cycle.

Required:
i) Explain lifecycle costing and identify TWO (2) benefits Oria Software Ltd will derive from using lifecycle costing. (3 marks)
ii) Calculate the cost per software taking into account the entire lifecycle and comment on the proposed selling price. (7 marks)

Answer

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Tags: Cost Analysis, Lifecycle costing, pricing decision, software development
Level: Level 2

Topic: Relevant Cost and Revenue
Series: MAY 2019

MI – May 2023 – L1 – SB – Q4c – Information Systems

This question asks for the definition and examples of open source software.

Question

What is “open source software”? State TWO examples.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Open Source Software, software development, Technology
Level: Level 1

Topic: Information Systems
Series: MAY 2023

MI – May 2017 – L1 – SB – Q5c -Computer Hardware, Software, and Data Life Cycle

Advantages and disadvantages of using tailored software in an organization.

Question

State THREE advantages and THREE disadvantages of using tailored software to an organisation.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Custom Software, software development, Tailored Software
Level: Level 1

Topic: Computer Hardware, Software, and Data Life Cycle
Series: MAY 2017

FR – Mar 2023 – L2 – Q2c – Financial Reporting Standards and Their Applications

Calculation of deferred tax liability considering temporary differences in various assets and liabilities, including tax base and carrying values.

Question

The Financial Accountant of Abodie Ltd is finalising the financial statements of Abodie Ltd for the year ended 31 August 2021. The following items are being considered for deferred tax purposes:

At year end, Abodie Ltd’s property, plant & equipment had a tax base and carrying value of GH¢72 million and GH¢95 million, respectively.
The company’s provision for decontamination costs was GH¢11 million (appropriately discounted) at the year end. Decontamination costs are tax deductible when paid.
The company had inventory with a carrying value of GH¢24 million. This did not agree with the tax base because of a GH¢3 million write-down for obsolete items. Tax relief is only granted for inventories upon sale.
The company incurred GH¢15 million in respect of new software development during the year, which was capitalised and will be amortised over the next 5 years. Full year’s charge is required in the first year of completion or purchase. This cost was deducted in the current year for tax purposes. The company is liable for income tax at 30%.

Required:

Compute the company’s deferred tax liability at 31 December 2021.

Answer

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Tags: Deferred Tax, Inventory Write-down, Property, software development, Tax Base, Temporary Differences
Level: Level 2

Topic: Financial Reporting Standards and Their Applications
Series: MAR 2023

MA – May 2019 – L2 – Q3b – Relevant cost and revenue

Explain lifecycle costing and calculate the cost per unit of software considering the entire lifecycle.

Question

Year	Year 0	Year 1	Year 2	Year 3	Year 4
Estimated quantity in units	3,500	5,000	2,000	500
	GH¢	GH¢	GH¢	GH¢	GH¢
Research & Development costs	360,000
Design costs	240,000	250,000
Production costs:
Variable cost per unit		42	35	35	40
Fixed costs	150,000	150,000	120,000	100,000
Marketing costs:
Variable cost per unit		40	35	10	22
Fixed costs	30,000	20,000	12,000	15,000
Distribution costs:
Variable cost per unit		20	22	18	10
Fixed costs	50,000	60,000	40,000	30,000
Customer service costs:
Variable cost per unit		8	12	14	10
Fixed costs	80,000	85,000	45,000	–

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Analysis, Lifecycle costing, pricing decision, software development
Level: Level 2

Topic: Relevant Cost and Revenue
Series: MAY 2019

Question Tag: software development

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MI – May 2023 – L1 – SB – Q4c – Information Systems

This question asks for the definition and examples of open source software.

MI – May 2017 – L1 – SB – Q5c -Computer Hardware, Software, and Data Life Cycle

Advantages and disadvantages of using tailored software in an organization.

FR – Mar 2023 – L2 – Q2c – Financial Reporting Standards and Their Applications

Calculation of deferred tax liability considering temporary differences in various assets and liabilities, including tax base and carrying values.

MA – May 2019 – L2 – Q3b – Relevant cost and revenue

Explain lifecycle costing and calculate the cost per unit of software considering the entire lifecycle.

MI – May 2023 – L1 – SB – Q4c – Information Systems

This question asks for the definition and examples of open source software.

MI – May 2017 – L1 – SB – Q5c -Computer Hardware, Software, and Data Life Cycle

Advantages and disadvantages of using tailored software in an organization.

FR – Mar 2023 – L2 – Q2c – Financial Reporting Standards and Their Applications

Calculation of deferred tax liability considering temporary differences in various assets and liabilities, including tax base and carrying values.

MA – May 2019 – L2 – Q3b – Relevant cost and revenue

Explain lifecycle costing and calculate the cost per unit of software considering the entire lifecycle.

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MI – May 2023 – L1 – SB – Q4c – Information Systems

This question asks for the definition and examples of open source software.

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MI – May 2017 – L1 – SB – Q5c -Computer Hardware, Software, and Data Life Cycle

Advantages and disadvantages of using tailored software in an organization.

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FR – Mar 2023 – L2 – Q2c – Financial Reporting Standards and Their Applications

Calculation of deferred tax liability considering temporary differences in various assets and liabilities, including tax base and carrying values.

You're reporting an error for "FR – Mar 2023 – L2 – Q2c – Financial Reporting Standards and Their Applications"

MA – May 2019 – L2 – Q3b – Relevant cost and revenue

Explain lifecycle costing and calculate the cost per unit of software considering the entire lifecycle.

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MI – May 2023 – L1 – SB – Q4c – Information Systems

This question asks for the definition and examples of open source software.

You're reporting an error for "MI – May 2023 – L1 – SB – Q4c – Information Systems"

MI – May 2017 – L1 – SB – Q5c -Computer Hardware, Software, and Data Life Cycle

Advantages and disadvantages of using tailored software in an organization.

You're reporting an error for "MI – May 2017 – L1 – SB – Q5c -Computer Hardware, Software, and Data Life Cycle"

FR – Mar 2023 – L2 – Q2c – Financial Reporting Standards and Their Applications

Calculation of deferred tax liability considering temporary differences in various assets and liabilities, including tax base and carrying values.

You're reporting an error for "FR – Mar 2023 – L2 – Q2c – Financial Reporting Standards and Their Applications"

MA – May 2019 – L2 – Q3b – Relevant cost and revenue

Explain lifecycle costing and calculate the cost per unit of software considering the entire lifecycle.

You're reporting an error for "MA – May 2019 – L2 – Q3b – Relevant cost and revenue"

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