Series: MAR 2023

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SCS – March 2023 – L3 – Q8 – International financial management

Discusses governance structure in terms of the separation of roles between the chairman and the CEO in line with the UK and Ghana Codes of Best Practices.

Question

Dr. Kingsley Tettey is the Chairman of the 4-member board of directors, and Dr. Joy Tettey is the Medical Director. Clearly, the Chairman is not the Chief Executive Officer (CEO) or Medical Director of LCH.

Required:
Discuss what the Ghana Code of Best Practices and the UK Corporate Governance Code state about this governance structure.
(8 marks)

Answer

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Tags: Best Practices, Board Governance, Ghana Code of Best Practices, UK Corporate Governance Code
Level: Level 3

Topic: International financial management
Series: MAR 2023

SCS – March 2023 – L3 – Q7 – Professional practice and codes of ethics

Analyzes LCH board composition using governance codes and discusses OECD principles of disclosure and board responsibilities.

Question

a) LCH’s Board of Directors is composed of four experienced professionals.

Required:
In reference to codes of corporate governance and the composition of LCH’s Board, analyze the view that the board has a suitable balance.
(5 marks)

b) The OECD Principles (2015) provide guidance through recommendations and annotations across six chapters. Principle 5 and 6 deal with disclosure and transparency and the responsibilities of the board respectively.

Required:
Provide the guidance and recommendations given on these principles and how relevant it is to LCH.
(7 marks)

Answer

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Tags: Board Composition, Corporate Governance, Disclosure, OECD principles, Transparency
Level: Level 3

Topic: Professional practice and codes of ethics
Series: MAR 2023

SCS – March 2023 – L3 – Q6 – International financial management

Explains the financial reporting implications of debt exchange and compares investing in bonds versus shares

Question

LCH has invested GH¢1,000,000 in a 5-year Government of Ghana Bond with a coupon rate of 20%. As a result of the Government of Ghana DDE programme, LCH has no option but to exchange the old bond with the new bond.

Required:
a) Explain FIVE (5) financial reporting implications of the debt exchange on the financial statements of LCH as at 31 December 2022.
(10 marks)

b) Discuss FOUR (4) advantages and TWO (2) main disadvantages of investing in bonds rather than shares.
(10 marks)

Answer

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Tags: Bonds, Debt Exchange, Financial Reporting, Investment, Shares
Level: Level 3

Topic: International financial management
Series: MAR 2023

SCS – March 2023 – L3 – Q5 – Strategy implementation

Uses Fitzgerald and Moon’s performance measurement dimensions to link LCH’s performance assessment to corporate strategy.

Question

Fitzgerald and Moon (1996) provided a framework for analysing performance management systems in service industries like a hospital. They suggested that a performance management system in a service organisation can be analysed as a combination of three building blocks, namely:
i) Dimensions
ii) Standards
iii) Rewards.

Required:
Using Dimensions as a tool for performance measurement, discuss how LCH could link performance assessment to corporate strategy.
(10 marks)

Answer

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Tags: Corporate Strategy, Healthcare, Performance Dimensions, Performance Management, Service Industries
Level: Level 3

Topic: Strategy implementation
Series: MAR 2023

SCS – March 2023 – L3 – Q4 – Strategy, stakeholders, and mission

Compares mechanistic and organic structures and recommends which is more suitable for LCH.

Question

An appropriate organizational structure should reflect the size and complexity of an entity.

Required:
Using the management study of Burns and Stalker that identified two categories of organization structure—a mechanistic structure and an organic structure—explain the differences between the two types of structures and determine which of the two is suitable for LCH.
(10 marks)

Answer

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Tags: Burns and Stalker, LCH, Mechanistic Structure, Organic Structure, Organizational Structure
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: MAR 2023

SCS – March 2023 – L3 – Q3 – Competitive advantage

Discusses the pros and cons of mergers and acquisitions and uses SWOT analysis to evaluate the business strategy

Question

LCH is facing very stiff competition from both public and private health facilities. You have suggested that LCH consider either acquisition or mergers or both as a strategic move to survive in the industry.

a) Discuss FIVE (5) advantages and FIVE (5) disadvantages of a decision to consider acquisition and merger as a survival strategy.
(10 marks)

b) Using SWOT analysis, identify and discuss key factors that might affect LCH’s business strategy.
(10 marks)

Answer

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Tags: Acquisitions, Business Strategy, Healthcare, Mergers, SWOT Analysis
Level: Level 3

Topic: Competitive Advantage
Series: MAR 2023

SCS – March 2023 – L3 – Q2 – Strategy, stakeholders, and mission

Uses the 4Ps of marketing mix and competitive environment to evaluate the feasibility of adopting telemedicine.

Question

According to the Technical Advisor of the Board of Directors, Telemedicine, the remote diagnosis and treatment of patients by means of telecommunications technology is the way to go. This proposal has been subjected to a basic marketing feasibility analysis.

Required:
Using 4Ps of the marketing mix and the competitive environment that LCH operates, explain the factors to be taken into consideration when deciding on whether to adopt the proposal to move into Telemedicine.
(10 marks)

Answer

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Tags: 4Ps, Competitive Environment, Feasibility Study, Marketing Mix, Telemedicine
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: MAR 2023

SCS – March 2023 – L3 – Q1 – Ethics and social responsibility

Explains the importance of good ethical behavior for accountants and reasons for the public’s high expectations from the accountancy profession.

Question

a) At LCH, the Financial Accountant and the Internal Auditor have been designated as Ethics Focal Persons (EFP) to raise awareness of good ethical behavior among the staff.
As a student of ethics, explain FIVE (5) reasons why good ethical behavior (study and application of ethics) is important to today’s Accountant.
(5 marks)

b) The general public has high expectations of the accountancy profession and the idea of an ethical profession should be reinforced in their minds.
State THREE (3) reasons why the general public has high expectations of the accountancy profession to ensure good corporate governance practices.
(5 marks)

Answer

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Tags: Corporate Governance, Ethics, Professional Conduct, Public Expectations
Level: Level 3

Topic: Ethics and social responsibility
Series: MAR 2023

FR – Mar 2023 – L2 – Q5d – Business combinations and consolidation

Explains fair value in IFRS 13 and its application to assets and liabilities in business combinations.

Question

d) IFRS 3: Business Combinations defines fair value consistently with IFRS 13: Fair Value Measurement. IFRS 3 requires the acquiree’s assets and liabilities to be incorporated into the consolidated financial statements at their fair values rather than at their carrying amounts.

Required:
i) Explain the meaning of fair value in accordance with IFRS 13. (2 marks)
ii) Explain the reasons why the acquiree’s assets and liabilities are measured and recognised at their fair value within the consolidated financial statements. (3 marks)

Answer

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Tags: Assets and liabilities, Business Combinations, Consolidation, Fair Value, Goodwill, IFRS 13, IFRS 3
Level: Level 2

Topic: Business combinations and consolidation
Series: MAR 2023

FR – March 2023 – L2 – Q5c – Preparation of Financial Statements

Determining the initial cost, depreciation charge, and carrying amount of the head office construction under IFRSs.

Question

Lana Ltd is a public listed company in Ghana, located in the Northern Region. The company operates in the manufacturing sector and prepares its accounts to 31 December each year. During the year ended 31 December 2021, Lana Ltd built a head office. The costs associated with the construction of the head office are as follows:

GH¢ million
Fees for environmental certifications and building permits	0.5
Leasehold Land acquisition	10.0
Architect and engineer fees	1.0
Construction material and labor costs (including unused materials)	6.5

At 31 October 2021, when the head office extension became available for use, the cost of unused materials on site amounted to GH¢0.5 million. The total borrowing costs incurred on a loan specifically used to finance the head office extension amounted to GH¢0.8 million. The estimated useful life of the building was 40 years.

Required:
With reference to IFRSs, determine:
i) The initial cost to be capitalized.
ii) The depreciation charge for the year ended 31 December 2021.
iii) The carrying amount as of 31 December 2021.

Answer

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Tags: Borrowing Costs, Capitalization, Construction, Depreciation, IFRS
Level: Level 2

Topic: Preparation of Financial Statements
Series: MAR 2023

SCS – March 2023 – L3 – Q8 – International financial management

Discusses governance structure in terms of the separation of roles between the chairman and the CEO in line with the UK and Ghana Codes of Best Practices.

Question

Required:
Discuss what the Ghana Code of Best Practices and the UK Corporate Governance Code state about this governance structure.
(8 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Best Practices, Board Governance, Ghana Code of Best Practices, UK Corporate Governance Code
Level: Level 3

Topic: International financial management
Series: MAR 2023

SCS – March 2023 – L3 – Q7 – Professional practice and codes of ethics

Analyzes LCH board composition using governance codes and discusses OECD principles of disclosure and board responsibilities.

Question

a) LCH’s Board of Directors is composed of four experienced professionals.

Required:
In reference to codes of corporate governance and the composition of LCH’s Board, analyze the view that the board has a suitable balance.
(5 marks)

Required:
Provide the guidance and recommendations given on these principles and how relevant it is to LCH.
(7 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Board Composition, Corporate Governance, Disclosure, OECD principles, Transparency
Level: Level 3

Topic: Professional practice and codes of ethics
Series: MAR 2023

SCS – March 2023 – L3 – Q6 – International financial management

Explains the financial reporting implications of debt exchange and compares investing in bonds versus shares

Question

Required:
a) Explain FIVE (5) financial reporting implications of the debt exchange on the financial statements of LCH as at 31 December 2022.
(10 marks)

b) Discuss FOUR (4) advantages and TWO (2) main disadvantages of investing in bonds rather than shares.
(10 marks)

Answer

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Tags: Bonds, Debt Exchange, Financial Reporting, Investment, Shares
Level: Level 3

Topic: International financial management
Series: MAR 2023

SCS – March 2023 – L3 – Q5 – Strategy implementation

Uses Fitzgerald and Moon’s performance measurement dimensions to link LCH’s performance assessment to corporate strategy.

Question

Required:
Using Dimensions as a tool for performance measurement, discuss how LCH could link performance assessment to corporate strategy.
(10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Strategy, Healthcare, Performance Dimensions, Performance Management, Service Industries
Level: Level 3

Topic: Strategy implementation
Series: MAR 2023

SCS – March 2023 – L3 – Q4 – Strategy, stakeholders, and mission

Compares mechanistic and organic structures and recommends which is more suitable for LCH.

Question

An appropriate organizational structure should reflect the size and complexity of an entity.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Burns and Stalker, LCH, Mechanistic Structure, Organic Structure, Organizational Structure
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: MAR 2023

SCS – March 2023 – L3 – Q3 – Competitive advantage

Discusses the pros and cons of mergers and acquisitions and uses SWOT analysis to evaluate the business strategy

Question

a) Discuss FIVE (5) advantages and FIVE (5) disadvantages of a decision to consider acquisition and merger as a survival strategy.
(10 marks)

b) Using SWOT analysis, identify and discuss key factors that might affect LCH’s business strategy.
(10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Acquisitions, Business Strategy, Healthcare, Mergers, SWOT Analysis
Level: Level 3

Topic: Competitive Advantage
Series: MAR 2023

SCS – March 2023 – L3 – Q2 – Strategy, stakeholders, and mission

Uses the 4Ps of marketing mix and competitive environment to evaluate the feasibility of adopting telemedicine.

Question

Answer

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Tags: 4Ps, Competitive Environment, Feasibility Study, Marketing Mix, Telemedicine
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: MAR 2023

SCS – March 2023 – L3 – Q1 – Ethics and social responsibility

Explains the importance of good ethical behavior for accountants and reasons for the public’s high expectations from the accountancy profession.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Governance, Ethics, Professional Conduct, Public Expectations
Level: Level 3

Topic: Ethics and social responsibility
Series: MAR 2023

FR – Mar 2023 – L2 – Q5d – Business combinations and consolidation

Explains fair value in IFRS 13 and its application to assets and liabilities in business combinations.

Question

Answer

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Tags: Assets and liabilities, Business Combinations, Consolidation, Fair Value, Goodwill, IFRS 13, IFRS 3
Level: Level 2

Topic: Business combinations and consolidation
Series: MAR 2023

FR – March 2023 – L2 – Q5c – Preparation of Financial Statements

Determining the initial cost, depreciation charge, and carrying amount of the head office construction under IFRSs.

Question

GH¢ million
Fees for environmental certifications and building permits	0.5
Leasehold Land acquisition	10.0
Architect and engineer fees	1.0
Construction material and labor costs (including unused materials)	6.5

Required:
With reference to IFRSs, determine:
i) The initial cost to be capitalized.
ii) The depreciation charge for the year ended 31 December 2021.
iii) The carrying amount as of 31 December 2021.

Answer

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Tags: Borrowing Costs, Capitalization, Construction, Depreciation, IFRS
Level: Level 2

Topic: Preparation of Financial Statements
Series: MAR 2023

Series: MAR 2023

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SCS – March 2023 – L3 – Q8 – International financial management

Discusses governance structure in terms of the separation of roles between the chairman and the CEO in line with the UK and Ghana Codes of Best Practices.

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SCS – March 2023 – L3 – Q7 – Professional practice and codes of ethics

Analyzes LCH board composition using governance codes and discusses OECD principles of disclosure and board responsibilities.

You're reporting an error for "SCS – March 2023 – L3 – Q7 – Professional practice and codes of ethics"

SCS – March 2023 – L3 – Q6 – International financial management

Explains the financial reporting implications of debt exchange and compares investing in bonds versus shares

You're reporting an error for "SCS – March 2023 – L3 – Q6 – International financial management"

SCS – March 2023 – L3 – Q5 – Strategy implementation

Uses Fitzgerald and Moon’s performance measurement dimensions to link LCH’s performance assessment to corporate strategy.

You're reporting an error for "SCS – March 2023 – L3 – Q5 – Strategy implementation"

SCS – March 2023 – L3 – Q4 – Strategy, stakeholders, and mission

Compares mechanistic and organic structures and recommends which is more suitable for LCH.

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SCS – March 2023 – L3 – Q3 – Competitive advantage

Discusses the pros and cons of mergers and acquisitions and uses SWOT analysis to evaluate the business strategy

You're reporting an error for "SCS – March 2023 – L3 – Q3 – Competitive advantage"

SCS – March 2023 – L3 – Q2 – Strategy, stakeholders, and mission

Uses the 4Ps of marketing mix and competitive environment to evaluate the feasibility of adopting telemedicine.

You're reporting an error for "SCS – March 2023 – L3 – Q2 – Strategy, stakeholders, and mission"

SCS – March 2023 – L3 – Q1 – Ethics and social responsibility

Explains the importance of good ethical behavior for accountants and reasons for the public’s high expectations from the accountancy profession.

You're reporting an error for "SCS – March 2023 – L3 – Q1 – Ethics and social responsibility"

FR – Mar 2023 – L2 – Q5d – Business combinations and consolidation

Explains fair value in IFRS 13 and its application to assets and liabilities in business combinations.

You're reporting an error for "FR – Mar 2023 – L2 – Q5d – Business combinations and consolidation"

FR – March 2023 – L2 – Q5c – Preparation of Financial Statements

Determining the initial cost, depreciation charge, and carrying amount of the head office construction under IFRSs.

You're reporting an error for "FR – March 2023 – L2 – Q5c – Preparation of Financial Statements"

SCS – March 2023 – L3 – Q8 – International financial management

Discusses governance structure in terms of the separation of roles between the chairman and the CEO in line with the UK and Ghana Codes of Best Practices.

You're reporting an error for "SCS – March 2023 – L3 – Q8 – International financial management"

SCS – March 2023 – L3 – Q7 – Professional practice and codes of ethics

Analyzes LCH board composition using governance codes and discusses OECD principles of disclosure and board responsibilities.

You're reporting an error for "SCS – March 2023 – L3 – Q7 – Professional practice and codes of ethics"

SCS – March 2023 – L3 – Q6 – International financial management

Explains the financial reporting implications of debt exchange and compares investing in bonds versus shares

You're reporting an error for "SCS – March 2023 – L3 – Q6 – International financial management"

SCS – March 2023 – L3 – Q5 – Strategy implementation

Uses Fitzgerald and Moon’s performance measurement dimensions to link LCH’s performance assessment to corporate strategy.

You're reporting an error for "SCS – March 2023 – L3 – Q5 – Strategy implementation"

SCS – March 2023 – L3 – Q4 – Strategy, stakeholders, and mission

Compares mechanistic and organic structures and recommends which is more suitable for LCH.

You're reporting an error for "SCS – March 2023 – L3 – Q4 – Strategy, stakeholders, and mission"

SCS – March 2023 – L3 – Q3 – Competitive advantage

Discusses the pros and cons of mergers and acquisitions and uses SWOT analysis to evaluate the business strategy

You're reporting an error for "SCS – March 2023 – L3 – Q3 – Competitive advantage"

SCS – March 2023 – L3 – Q2 – Strategy, stakeholders, and mission

Uses the 4Ps of marketing mix and competitive environment to evaluate the feasibility of adopting telemedicine.

You're reporting an error for "SCS – March 2023 – L3 – Q2 – Strategy, stakeholders, and mission"

SCS – March 2023 – L3 – Q1 – Ethics and social responsibility

Explains the importance of good ethical behavior for accountants and reasons for the public’s high expectations from the accountancy profession.

You're reporting an error for "SCS – March 2023 – L3 – Q1 – Ethics and social responsibility"

FR – Mar 2023 – L2 – Q5d – Business combinations and consolidation

Explains fair value in IFRS 13 and its application to assets and liabilities in business combinations.

You're reporting an error for "FR – Mar 2023 – L2 – Q5d – Business combinations and consolidation"

FR – March 2023 – L2 – Q5c – Preparation of Financial Statements

Determining the initial cost, depreciation charge, and carrying amount of the head office construction under IFRSs.

You're reporting an error for "FR – March 2023 – L2 – Q5c – Preparation of Financial Statements"

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