Series: AUG 2022

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SCS – Aug 2022 – L3 – Q8 – Controlling Risk

Explain the ISO 31000 risk management framework and the OECD principles relevant to Bazar's governance concerns.

Question

The Director of Finance and Operations, Mrs. Emma Owusu-Kwakye, is concerned about the lack of a “standardised risk management system” and “good corporate governance” at Bazar. Following Continuous Professional Development (CPD) training organised recently by the Institute of Chartered Accountants, Ghana (ICAG), on this subject and attended by you as a member of the Finance Team, duly paid for from Bazar’s training budget:

Required:
You have been asked by management to brief your finance team members on the following:

i) The International Standardisation for Organisation (ISO 31000) framework for risk management using the three (3) main elements. (5 marks)
ii) TWO (2) out of the Six OECD principles of Corporate Governance. (5 marks)

Answer

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Tags: Corporate Governance, ISO 31000, OECD principles, Risk Management
Level: Level 3

Topic: Controlling Risk
Series: AUG 2022

SCS – Aug 2022 – L3 – Q7 – Ethics and Social Responsibility

Explanation of remuneration policies in Ghana’s Code of Best Practices and their implications for corporate governance at Bazar.

Question

Remuneration packages should attract individuals to a company and persuade them to work for the company. Ghana’s Code of Best Practices makes three statements about remuneration policy. The Code adds that the remuneration level for individual directors should reflect their experiences and the level of responsibilities they undertake.

Required:
i) Explain the three statements about remuneration as stated in the Ghana’s Code of Best Practices policy to support Bazar management engagement with the General Welfare Committee (GWC). (6 marks)

ii) Explain to the management of Bazar why executive remuneration is a governance issue. (4 marks)

Answer

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Tags: Director Compensation, Executive Remuneration, Governance, Remuneration Policy
Level: Level 3

Topic: Ethics and social responsibility
Series: AUG 2022

SCS – Aug 2022 – L3 – Q6 – Strategy Implementation

Application of Lewin's change model to propose a transformation plan for Bazar's management style from authoritarian to a more open style.

Question

The management style of Bazar is in transition from a somehow authoritarian style described by some managers as almost autocratic and militaristic to a more ‘open’ style that encourages managers and supervisors to seek ideas from staff and to operate in an informal manner.

Required:
Using Lewin’s Model for Managing Change, (unfreeze, change, re-freeze) suggest an approach to introducing planned transformational change in the management style of Bazar.

Answer

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Tags: Change Management, Lewin's Model, Re-freezing, Transformation, Unfreezing
Level: Level 3

Topic: Strategy implementation
Series: AUG 2022

SCS – Aug 2022 – L3 – Q5 – Financial Management

Prepare Little Bee’s financial forecast and calculate its gearing ratios, explaining their significance to Bazar.

Question

Using the additional information presented by AB Consult & Associate to the Director of Finance and Operations, Mrs. Emma Owusu-Kwakye, on 4 August, prepare the following:

i) Little Bee new forecasted Statement of financial performance after the changes that will be discussed at the board meeting on the 5 August 2022. (4 marks)
ii) Calculate the operating gearing, measured as the ratio of the percentage increase in profit before interest and tax divided by the percentage increase in sales. (2 marks)
iii) Calculate the financial gearing, measured as the ratio of the percentage change in total earnings (or EPS) to the percentage increase in profit before interest and tax. (2 marks)
iv) Calculate the Combined gearing, measured as the ratio of the percentage change in total earnings (or EPS) to the percentage increase in sales. (2 marks)
v) Explain the significance of operating gearing and financial gearing to the management of Bazar. (10 marks)

Answer

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Tags: Business Valuation, Combined Gearing, Financial Forecast, Financial Gearing, Operating Gearing
Level: Level 3

Topic: Financial management
Series: AUG 2022

SCS – Aug 2022 – L3 – Q4 – Competitive Advantage

Explains the five primary activities of Porter's value chain and their relevance to Bazar's business processes.

Question

Within an entity, there is a primary value chain and there are support activities (also called secondary value chain). Porter identified five primary value chain activities which can be applied to a retailing company such as Bazar.

Required:
Using the concept of the value chain, explain using a diagram the FIVE (5) primary value chain as explained by Porter to the management of Bazar highlighting their relevance. (10 marks)

Answer

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Tags: Business operations, Porter, Retail Industry, Strategic Success, Value Chain
Level: Level 3

Topic: Competitive Advantage
Series: AUG 2022

SCS – Aug 2022 – L3 – Q3 – Conflicts of interest and ethical conflict resolution

Explains whistleblowing and what an employee should consider before whistleblowing in Bazar.

Question

“Whistleblowing” means reporting suspicions of illegal or improper behaviour to a person in authority.

Required:
In relation to the comments above, explain to the Director of Human Resources and Organisational Culture, Mrs. Raju Asha, the consequences of comments recorded by an employee. Additionally, advise the employee on what he/she should consider before deciding on “blowing the whistle” and the potential difficulties that the staff might encounter.

Answer

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Tags: Corporate Governance, Ethics, Reporting, Unethical Behavior, Whistleblowing
Level: Level 3

Topic: Conflicts of Interest and Ethical Conflict Resolution
Series: AUG 2022

SCS – Aug 2022 – L3 – Q2 – Strategy Implementation

A report detailing the advantages of acquisition and mergers as a growth strategy versus internal development for Bazar.

Question

In discussing the report presented by AB Consult & Associate, the Director of Finance and Operations made a strong point for acquisition and mergers as a growth strategy instead of internal development. She gave her full support to the decision to acquire the 20 stores.

Required:
Write a report detailing the advantages of an acquisition and mergers method of growth instead of an internal development. Conclude your report by explaining why the financial position and financial performance of Bazar will support or not support the decision to acquire the 20 stores.

Answer

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Tags: Acquisitions, Financial strategy, Growth Strategy, Internal Development, Mergers
Level: Level 3

Topic: Strategy implementation
Series: AUG 2022

SCS – Aug 2022 – L3 – Q1b – Strategy implementation

Explanation of four organizational configurations identified by Mintzberg and their relevance in supporting change management at Bazar.

Question

Mintzberg identified six different organizational configurations. Explain to Bazar management FOUR (4) of these organizational configurations suitable to support the change management process highlighting the differences.

Answer

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Tags: Change Management, Mintzberg, Organizational Configurations
Level: Level 3

Topic: Strategy implementation
Series: AUG 2022

SCS – Aug 2022 – L3 – Q1a – Strategy, stakeholders, and mission

Explanation and illustration of Mintzberg’s five organizational building blocks and their relevance to Bazar's organizational structure.

Question

The organisational structure of Bazar is ‘family centric management’ while not interested
in changing the structure any time soon. It is important to recognise that the most suitable
organisation structure depends partly on circumstances and partly on management
preference. An organisation structure can therefore be changed.
Required:
Using the Mintzberg’s five building blocks for organizational configurations, explain and illustrate with a diagram to the management of Bazar, why management needs to review its current organization structure in order to coordinate its business activities and work processes effectively.

Answer

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Tags: Business Processes, Mintzberg, Organizational Coordination, Organizational Structure, Strategic Apex
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: AUG 2022

AA – Aug 2022 – L2 – Q5c – Completion Procedures and Reporting

Distinguishes between Emphasis of Matter and Other Matter paragraphs in the audit report and explains communication requirements.

Question

ISA 706 (Revised): Emphasis of Matter Paragraphs and Other Matter(s) paragraphs in the Independent Auditor’s Report requires that an auditor’s report may include an “emphasis of matter” paragraph and/or an “other matter” paragraph.

Required:
Distinguish between Emphasis of Matter and Other Matter paragraphs, showing clearly requirements of Audit Report and communication with those charged with governance.

Answer

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Tags: Audit report, Communication with Governance, Emphasis of Matter, ISA 706, Other Matter
Level: Level 2

Topic: Completion Procedures and Reporting
Series: AUG 2022

SCS – Aug 2022 – L3 – Q8 – Controlling Risk

Explain the ISO 31000 risk management framework and the OECD principles relevant to Bazar's governance concerns.

Question

Required:
You have been asked by management to brief your finance team members on the following:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Governance, ISO 31000, OECD principles, Risk Management
Level: Level 3

Topic: Controlling Risk
Series: AUG 2022

SCS – Aug 2022 – L3 – Q7 – Ethics and Social Responsibility

Explanation of remuneration policies in Ghana’s Code of Best Practices and their implications for corporate governance at Bazar.

Question

ii) Explain to the management of Bazar why executive remuneration is a governance issue. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Director Compensation, Executive Remuneration, Governance, Remuneration Policy
Level: Level 3

Topic: Ethics and social responsibility
Series: AUG 2022

SCS – Aug 2022 – L3 – Q6 – Strategy Implementation

Application of Lewin's change model to propose a transformation plan for Bazar's management style from authoritarian to a more open style.

Question

Required:
Using Lewin’s Model for Managing Change, (unfreeze, change, re-freeze) suggest an approach to introducing planned transformational change in the management style of Bazar.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Change Management, Lewin's Model, Re-freezing, Transformation, Unfreezing
Level: Level 3

Topic: Strategy implementation
Series: AUG 2022

SCS – Aug 2022 – L3 – Q5 – Financial Management

Prepare Little Bee’s financial forecast and calculate its gearing ratios, explaining their significance to Bazar.

Question

Using the additional information presented by AB Consult & Associate to the Director of Finance and Operations, Mrs. Emma Owusu-Kwakye, on 4 August, prepare the following:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Valuation, Combined Gearing, Financial Forecast, Financial Gearing, Operating Gearing
Level: Level 3

Topic: Financial management
Series: AUG 2022

SCS – Aug 2022 – L3 – Q4 – Competitive Advantage

Explains the five primary activities of Porter's value chain and their relevance to Bazar's business processes.

Question

Required:
Using the concept of the value chain, explain using a diagram the FIVE (5) primary value chain as explained by Porter to the management of Bazar highlighting their relevance. (10 marks)

Answer

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Tags: Business operations, Porter, Retail Industry, Strategic Success, Value Chain
Level: Level 3

Topic: Competitive Advantage
Series: AUG 2022

SCS – Aug 2022 – L3 – Q3 – Conflicts of interest and ethical conflict resolution

Explains whistleblowing and what an employee should consider before whistleblowing in Bazar.

Question

“Whistleblowing” means reporting suspicions of illegal or improper behaviour to a person in authority.

Answer

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Tags: Corporate Governance, Ethics, Reporting, Unethical Behavior, Whistleblowing
Level: Level 3

Topic: Conflicts of Interest and Ethical Conflict Resolution
Series: AUG 2022

SCS – Aug 2022 – L3 – Q2 – Strategy Implementation

A report detailing the advantages of acquisition and mergers as a growth strategy versus internal development for Bazar.

Question

Answer

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Tags: Acquisitions, Financial strategy, Growth Strategy, Internal Development, Mergers
Level: Level 3

Topic: Strategy implementation
Series: AUG 2022

SCS – Aug 2022 – L3 – Q1b – Strategy implementation

Explanation of four organizational configurations identified by Mintzberg and their relevance in supporting change management at Bazar.

Question

Answer

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Tags: Change Management, Mintzberg, Organizational Configurations
Level: Level 3

Topic: Strategy implementation
Series: AUG 2022

SCS – Aug 2022 – L3 – Q1a – Strategy, stakeholders, and mission

Explanation and illustration of Mintzberg’s five organizational building blocks and their relevance to Bazar's organizational structure.

Question

Answer

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Tags: Business Processes, Mintzberg, Organizational Coordination, Organizational Structure, Strategic Apex
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: AUG 2022

AA – Aug 2022 – L2 – Q5c – Completion Procedures and Reporting

Distinguishes between Emphasis of Matter and Other Matter paragraphs in the audit report and explains communication requirements.

Question

Required:
Distinguish between Emphasis of Matter and Other Matter paragraphs, showing clearly requirements of Audit Report and communication with those charged with governance.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit report, Communication with Governance, Emphasis of Matter, ISA 706, Other Matter
Level: Level 2

Topic: Completion Procedures and Reporting
Series: AUG 2022

Series: AUG 2022

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SCS – Aug 2022 – L3 – Q8 – Controlling Risk

Explain the ISO 31000 risk management framework and the OECD principles relevant to Bazar's governance concerns.

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SCS – Aug 2022 – L3 – Q7 – Ethics and Social Responsibility

Explanation of remuneration policies in Ghana’s Code of Best Practices and their implications for corporate governance at Bazar.

You're reporting an error for "SCS – Aug 2022 – L3 – Q7 – Ethics and Social Responsibility"

SCS – Aug 2022 – L3 – Q6 – Strategy Implementation

Application of Lewin's change model to propose a transformation plan for Bazar's management style from authoritarian to a more open style.

You're reporting an error for "SCS – Aug 2022 – L3 – Q6 – Strategy Implementation"

SCS – Aug 2022 – L3 – Q5 – Financial Management

Prepare Little Bee’s financial forecast and calculate its gearing ratios, explaining their significance to Bazar.

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SCS – Aug 2022 – L3 – Q4 – Competitive Advantage

Explains the five primary activities of Porter's value chain and their relevance to Bazar's business processes.

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SCS – Aug 2022 – L3 – Q3 – Conflicts of interest and ethical conflict resolution

Explains whistleblowing and what an employee should consider before whistleblowing in Bazar.

You're reporting an error for "SCS – Aug 2022 – L3 – Q3 – Conflicts of interest and ethical conflict resolution"

SCS – Aug 2022 – L3 – Q2 – Strategy Implementation

A report detailing the advantages of acquisition and mergers as a growth strategy versus internal development for Bazar.

You're reporting an error for "SCS – Aug 2022 – L3 – Q2 – Strategy Implementation"

SCS – Aug 2022 – L3 – Q1b – Strategy implementation

Explanation of four organizational configurations identified by Mintzberg and their relevance in supporting change management at Bazar.

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SCS – Aug 2022 – L3 – Q1a – Strategy, stakeholders, and mission

Explanation and illustration of Mintzberg’s five organizational building blocks and their relevance to Bazar's organizational structure.

You're reporting an error for "SCS – Aug 2022 – L3 – Q1a – Strategy, stakeholders, and mission"

AA – Aug 2022 – L2 – Q5c – Completion Procedures and Reporting

Distinguishes between Emphasis of Matter and Other Matter paragraphs in the audit report and explains communication requirements.

You're reporting an error for "AA – Aug 2022 – L2 – Q5c – Completion Procedures and Reporting"

SCS – Aug 2022 – L3 – Q8 – Controlling Risk

Explain the ISO 31000 risk management framework and the OECD principles relevant to Bazar's governance concerns.

You're reporting an error for "SCS – Aug 2022 – L3 – Q8 – Controlling Risk"

SCS – Aug 2022 – L3 – Q7 – Ethics and Social Responsibility

Explanation of remuneration policies in Ghana’s Code of Best Practices and their implications for corporate governance at Bazar.

You're reporting an error for "SCS – Aug 2022 – L3 – Q7 – Ethics and Social Responsibility"

SCS – Aug 2022 – L3 – Q6 – Strategy Implementation

Application of Lewin's change model to propose a transformation plan for Bazar's management style from authoritarian to a more open style.

You're reporting an error for "SCS – Aug 2022 – L3 – Q6 – Strategy Implementation"

SCS – Aug 2022 – L3 – Q5 – Financial Management

Prepare Little Bee’s financial forecast and calculate its gearing ratios, explaining their significance to Bazar.

You're reporting an error for "SCS – Aug 2022 – L3 – Q5 – Financial Management"

SCS – Aug 2022 – L3 – Q4 – Competitive Advantage

Explains the five primary activities of Porter's value chain and their relevance to Bazar's business processes.

You're reporting an error for "SCS – Aug 2022 – L3 – Q4 – Competitive Advantage"

SCS – Aug 2022 – L3 – Q3 – Conflicts of interest and ethical conflict resolution

Explains whistleblowing and what an employee should consider before whistleblowing in Bazar.

You're reporting an error for "SCS – Aug 2022 – L3 – Q3 – Conflicts of interest and ethical conflict resolution"

SCS – Aug 2022 – L3 – Q2 – Strategy Implementation

A report detailing the advantages of acquisition and mergers as a growth strategy versus internal development for Bazar.

You're reporting an error for "SCS – Aug 2022 – L3 – Q2 – Strategy Implementation"

SCS – Aug 2022 – L3 – Q1b – Strategy implementation

Explanation of four organizational configurations identified by Mintzberg and their relevance in supporting change management at Bazar.

You're reporting an error for "SCS – Aug 2022 – L3 – Q1b – Strategy implementation"

SCS – Aug 2022 – L3 – Q1a – Strategy, stakeholders, and mission

Explanation and illustration of Mintzberg’s five organizational building blocks and their relevance to Bazar's organizational structure.

You're reporting an error for "SCS – Aug 2022 – L3 – Q1a – Strategy, stakeholders, and mission"

AA – Aug 2022 – L2 – Q5c – Completion Procedures and Reporting

Distinguishes between Emphasis of Matter and Other Matter paragraphs in the audit report and explains communication requirements.

You're reporting an error for "AA – Aug 2022 – L2 – Q5c – Completion Procedures and Reporting"

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