Accounting for Decision Makers Level: MBA7001

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Gulf College
MOCK EXAM
Module: Accounting for Decision Makers Level: 7
Mock Examination Module No: MBA7001
Time Allowed: 48 hours
5:00 pm of Wednesday the 13th May 2020 to 5:00 pm of Friday the 15th May 2020
Due to COVID19 PANDEMIC this Mock Exam has a 48 hours examination window.
Students have 48 hours from receiving the Mock Examination paper to submitting their
answers.
INSTRUCTIONS:
1. You can answer here in this Mock Exam Paper or in MS Excel sheets and you need to
submit all your answers to the link in the Moodle by 5:00 pm of Friday the 15th May
2020.
2. This paper consists of three questions, all questions are compulsory.
3. Question 1 is worth 50 marks and questions 2 and 3 are worth 25 marks each. A total
of 100 marks available.
4. Show workings for all calculations.
2
Question 1.
Ruby Jewellers Limited produces three distinct products. Its managers are concerned that the company’s
profit is not as high as its competitors. They believe they fall in profits could be caused due to the company’s
uncompetitive selling price(s), for one or more product, and losses on other products. Details of the
company’s costs and selling prices are as follows: –
Product Gold Bracelet Gold Earrings Ruby Ring
£ £ £
Selling Price 250.00 180.00 75.00
Direct Costs
Labour 45.00 30.00 15.00
Direct Material – ruby gemstones 20.00
Direct Material – gold 70.00 25.00 30.00
Total Direct Cost 115.00 55.00 65.00
Units produced 100 150 200
Labour hours 3 hour per unit 2 hour per unit 1 hour per unit
Currently the company uses the traditional method of allocating indirect overheads but is considering using
the ABC method for increasing the accuracy. The company’s indirect overheads are as follows: –
£
Depreciation 500
Purchasing Expenses 250
Direct Material – ruby gemstones delivery inspection costs 200
Direct Material – gold delivery inspection costs 200
Set-up costs 100
Canteen expenses 300
Activities associated with the overheads are: –
Gold Bracelet Gold Earrings Ruby Ring
Number of suppliers 3 4 6
Component deliveries per month 4 5 4
Production runs per month 6 4 30
No. of employees 10 10 5
Value of machinery 1000 900 900
Required
a) Calculate the profit per unit for the three products based on the company’s current Labour hours based
overhead method.
b) Calculate the profit per unit for the three products using the principles of ABC. Explain your reasons for
choosing the bases of overhead allocation
Total = 50 Marks
3
Question 2.
The Chief Executive Officer of GizmosRUs Ltd. is planning to diversify the company’s operations by
exploring two new business opportunities.
Opportunity ‘Arizona Desert’ has an expected working life of four years, requires £3,000,000 of initial
capital expenditure and a further £200,000 of working capital. At the end of year 4 the residual value is
forecast to be £400,000.
Opportunity ‘Phoenix’ also has an estimated working life of four years and has an initial cash outflow of
£4,000,000 which includes working capital of £900,000. At the end of year 4 the residual value is
estimated to be £800,000.
Estimates for net cash flow for both projects are as follows:
Year Opportunity Opportunity
Arizona Desert Phoenix
1 £1,200,000 £1,850,000
2 £1,250,000 £1,850,000
3 £1,200,000 £2,220,000
4 £1,225,000 £2,300,000
Years Present Value rates at 15% Present Value rates at 30%
1 0.870 0.769
2 0.756 0.592
3 0.658 0.455
4 0.572 0.350
Required:
a) Utilising the above information, numerically assess the projects using:
(i) Payback
(6 Marks)
(ii) Net Present Value using the present value rates at 15%
(6 Marks)
(iii) Internal rate of return using present value rates at 30%
(8 Marks)
b) On the basis of your evaluation make recommendations as to which project should be
undertaken and why.
(2 Marks)
4
c) Describe the advantages and disadvantages of using qualitative and quantitative factors for
investment decision making.
(3 Marks)
Total = 25 Marks
Question 3.
Alpha Limited was incorporated five years ago. Over the past two years, Alpha Ltd. has struggled to pay
its invoices on time. You are required to examine Alpha Ltd. Statement of Financial position, and the
notes which follow, to attempt questions which follow.
Statement of Financial Position of Alpha Ltd as at 31 January 20X9
£’000 £’000
Non-current assets at cost
Office Equipment 400
Less: accumulated depreciation on Office Equipment 80 320
Motor Vehicles 250
Less: accumulated depreciation on Motor Vehicles 125 125
445
Current assets
Cash at bank 0
Pre-paid Expenses 450
Closing Inventory 500
Trade Debtors 525 1475
TOTAL ASSETS 1920
Current liabilities:
Trade creditors 300
Outstanding Expenses 80
Dividends Declared Outstanding 100
Bank overdraft 290 770
Non-current liabilities
Long-Term Loans 560 560
Equity
Ordinary share capital 90
Retained Earnings 500 590
TOTAL EQUITY & LIABILITIES 1920
5
Additional Notes
The directors of the company have prepared the following estimates for the next 6
months:
(a) Sales and purchases are expected to be as follows: Sales
£’000
Purchases
£’000
February 270 152
March 260 118
April 285 168
May 320 230
June 340 210
July 275 140
(b) All sales made are on credit. 30% of debtors pay one month after the month of sale; 50% of
debtors pay two months after the month of sale; and 20% of the debtors pay three months after
the sale. Sales in January 20X9 were £250,000. Sales in December 20X8 were £300,000.
(c) All purchases are on one month’s trade credit.
(d) The dividend outstanding is due for payment in June 20X9.
(e) The Outstanding expenses are due for payment in March 20X9.
(f) Administration and finance expenses (including depreciation of Office Equipment) are expected
to be £40,000 per month in February and £45000 per month in subsequent months.
(g) Selling and distribution expenses (including depreciation of Motor Vehicles) are expected to be
£60,000 per month in February and £68,000 per month in subsequent months.
(h) Depreciation of Office Equipment is at the rate of 20% of cost per annum.
(i) Depreciation of Motor Vehicles is at the rate of 25% of cost per annum.
Required:
a. Prepare a cash budget for XYZ Ltd for the six months ended 31 July 20X9 which shows the cash
balance at the end of each month.
(22 Marks)
b. Briefly discuss the cash flow problems will the company face over the next six months and how
might the company deal with them?
(3 Marks)
Total = 25 Marks

 
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Muscat College Return on Ordinary Shareholders Funds & Trade Receivable Report

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Question Description

Help me study for my Accounting class. I’m stuck and don’t understand.

 

As stated in the previous question :

For the tables that were inserted for the list below, can you make it so its a comparison with RCC? So the chart will show the 3 years between OCC and RCC. With the new information (the comparisons), can you get into more detail with the explanation(comments)?

1. Return on Ordinary Shareholders’ Funds

2. Return on Capital Employed

3. Trade Receivable

4. Trade payable

5. Average Inventories Turnover

6. Sales revenue to Capital Employed

7. Gearing Ratio

Then, can you add the new information from all the above charts and add them to the “Competitor analysis and Commentary of the Findings” chart and edit the analysis to include the additional information.

 
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Oman Labour law

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College of Banking and Financial Studies

DEGREE: B.Sc. ACCOUNTING, AUDITING AND FINANCE / BBA

SEMESTER: 6

Student Name  
Student Number  
Semester Summer 2020
MARKS 100 Weightage 50%

Unit title

 Oman Labour law
Exam Paper Issue Date and Time 31-08-2020,9.45 AM
Type of Assessment TAKE-HOME EXAMS 
Submission Date and Time 31-08-2002,11.45 PM
Assessor: Ms. Sona Lolu
Internal Verifier: Ms. Joyce Noronha

 

 

 

 

 

 

 

 

 

Instructions to candidates:

 

  1. This assessment is Take home exam which is a substitute of your Final exam. It is to be completed Individually.
  2. Kindly include your Name and Student Number and Specialization in the heading page above.
  3. This Assessment accounts for 50% of the total marks available for this Module. Section A carrying 20% of this paper is already assessed through Microsoft forms.
  4. Answer All the Questions.
  5. Please start each answer on Fresh page.
  6. Plagiarism is a form of cheating in which students use the work of others and present it as their own. Do not Allow another student to copy your work and then submit it under their own name. The college considers this form of cheating as a serious offence.
  7. Please limit your discussions looking to the marks allotted for question.
  8. Please be aware that your work will be submitted through Turnitin. You must only submit your own work including correct citations and references for any external materials used in your work.
  9. Please do not paste your answer in picture form.

 

Turnitin ID :25735707                                                                        Password: OLL123

 

 

 

 

 

 

 

 

There are Three Sections

Section A-10 MCQ question already assessed through Microsoft Forms       20 marks weightage

 

Section B – All questions to be attempted :3 questions carrying 15 marks      (45 marks weightage   )

 

 Question 1: Recently, an unfortunate tragedy was reported, when a man was killed, and three others were injured after an escalator collapsed on them. However, this is not the first work site injury reported in Oman, and neither is it uncommon.

In 2008, the Ministry of Manpower issued Ministerial Decision no. 286/2008 introducing the Regulation of Occupational Safety and Health for Establishments governed by the Labour Law. The Regulation provided for a comprehensive regulatory framework with the aim of improving health and safety standards at the workplace and protecting workers from various occupational hazards.

  1. Briefly examine the workplace safety measures to be complied by an employer as per Ministerial Decision no. 286/2008(10 marks)
  2. Analyze the effectiveness of workplace safety measures mentioned under MD.no.286/2008 with suitable examples? (5 marks)

 

 

Question 2: Public Authority for Social Insurance holds the responsibility of providing social insurance services in Oman. Its vision is “To ensure social protection for individuals, families, and the society under an insurance scheme that is based on the principles of justice and social solidarity and is comprehensive and sustainable.”

Explore and assess the role of PASI in the light of above a statement stating various schemes, pensions, and grants? (15 marks)

 

 

 

 

Question 3: Apply the provisions of Oman Labour Law in the following scenario:15 marks

Saba has been working for an industrial company for about six years and three months. She took her annual leave for all previous years without payment. The company was following the policy of payment on work. Hence, if the employee fails to work, they are not entitled to get any payment.

 

  1. Advice the company, whether their approach is right or wrong stating the provisions from OLL? (5 marks)
  2. Saba being the representative of employee’s union approached the management with a claim of annual leave under OLL, employer was not happy with this and hence dismissed Saba. Explain Saba her right under OLL and the process of filing a complaint to Ministry of Manpower? (8 marks)
  3. What would be the result in case Saba decided to complaint in the Ministry of Manpower? (2 marks)

 

                    

Section C- One question (35 marks weightage)

 

Question 1: Not receiving salaries is one of the most common complaints received by the General Federation of Oman Trade Union (GFOTU). In one year, the federation received over 400 complaints from expat and Omani workers in the private sector. Speaking to Times of Oman, Omar Al Shehri, member of the board of directors and Vice Chairman of the Legal Committee at GFOTU, said, “Annually, we receive more than 400 complaints from Omani and expat workers, which include legal consultations, individual and group complaints”… “As a result of visits by specialists from the GFOTU to various work sites, the main complaints they received surrounded not receiving salaries for numerous months, not complying with the health and safety standards, and long work hours without compensation for overtime,” said Al Shehri.

“We aim to find suitable solutions for all the workers that resort to the federation in all methods possible in order to achieve stability of the workers,” Al Shehri added.Non-Omani employees are entitled to join licenced trade unions in the Sultanate.
“Expats also have the right to resort to the Federation directly. A worker can also register the complaint through the website of the General Federation of Workers of the Sultanate of Oman.”There are specialised committees at the General Federation of Oman Trade Union to “keep pace with trade union actions in the Sultanate”.

Critically evaluate the role of Trade union in the light of above statement. (35 marks)

Your answer should include an explanation on:

  • Legal framework & purpose of Trade Unions in Oman
  • Rights and restrictions of registered trade union in Oman
  • Powers of Labour federation and General federation
  • Company’s role in the formation and operation of Trade Unions

 

 

……………………………………………………….

 

 

 

 
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Financial Statement Analysis UG043

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COLLEGE OF BANKING AND FINANCIAL STUDIES

DEPARTMENT OF UNDERGRADUATE PROGRAMME

B.Sc. in Accounting, Auditing and Finance

ASSIGNMENT BRIEF – Individual Assignment

Weightage: 20%

Student Names and St Number

 

  

 
Semester 6 Fall 2020-21

Assignment Title

 Financial Statement Analysis

UG043

 

Module

 Financial statement analysis Assessor: Dr. Niranjan Shetty
Start Date: 28th Oct 2020 Internal Verifier Mr. Gnanendran
Due Date: Formative Submission: 18th Nov 2020

Summative Submission: 28th Nov 2020

    

 

Required Work, Format and Grading
You must submit the following by the assignment due date:

  • Completed answers to each task, making sure that you fully address each of the outcome criteria.

§  Answer all questions separately.

§  Assignments without TURNITIN report will not be accepted.

 

 

 

Resources:

You need to demonstrate a confident application of the theories to the assignment task. The theoretical underpinning of your observations and deliberations should also demonstrate a good understanding of the subject by the way that your analysis is structured.

 

You can access the Internet to research about the topic. You should demonstrate good academic practice by the appropriate use of academic texts and journals that are properly referenced.
Guidelines and further information about assignment:
Assignment must be submitted with the “Turnitin” report. If the report generated indicates a similarity index percentage of 20% or more, a review of your assignment is necessary to ensure the same is reduced to less than 20%.  

 

Student declaration:

I certify that the work in this assignment is researched and prepared by me.

 

Signature: ___________________________                      Date: ___________________

 

The user ID and Password for submitting the soft copy of the report through TURNITIN is as follows:

 

CLASS ID: 27025973

TURNITIN KEY: FSAFALL20-21

 

 

Submission time and date

You should submit the assignment by the time and date mentioned, otherwise a ‘NA’ will be awarded. Fill in the form cover and attach it with your assignment. Make sure that all the relevant details are complete. Assignments must be submitted by the due date. You may include diagrams, figures etc without word penalty.

 

Plagiarism Writing

Summary

  1. Plagiarism occurs if you use somebody else’s work in an assignment or exam answer, but fail to state from where you got the material. You need to be also very careful about the amount of words you are using from somebody else’s work.
  2. It can happen in any type of assessment where you are given the questions or tasks in advance.
  3. If another student uses your work in his/her answer(s), both you and he/she will be punished when caught.
  4. Punishments for committing plagiarism can be very severe.

 

Details

Plagiarism is a form of cheating in which students use the work of others and present it as their own. It may include all or any one of the following –

  1. Copy extensively from the work of others (from sources such as books, magazines, journal, web sites etc.) and submit the work as your own.
  1. Copy another students’ work and submit it for assessment under your own name.
  2. Allow another student to copy your work and then submit it for assessment under his or her own name.

 

What happens if you get caught?

The examining body of CBFS may punish offending students in any manner that they deem fit. Typical punishments may range from reduction in grades, making students re-sit modules and even failing students on a module or an entire award. The college considers this form of cheating as a serious offence. Therefore, be forewarned!

 

 

Scenario or Task

 

Obtain the published financial statements of a public quoted company in Oman for the last three (03) years. Study the overall financial performance of that company over that period. In addition, compare the performance of this organization with that of its competitor as well the general industry standards of performance (if available). Evaluate the performance of the organization chosen not only from a financial perspective, but also from other ‘non-financial perspective’ as well.

 

Based on your analysis and findings, prepare a report of your findings. Your report should start with a brief introduction about the company and the relevant industry. The body of your report should essentially be a more detailed analysis of relevant ratios with a commentary of your findings. The word count should be 2000 to 2500 words.  Strictly not permitted to exceed more than 2500-word limit.

 

 

This is an individual assignment.

 

Marking scheme:

Introduction 1 mark
A very brief introduction about the company and the relevant industry 4 marks
Financial analysis of the company’s performance (3 years) 5 marks
Non-financial analysis of the company chosen 3 marks
Industry / competitor analysis in terms of financial performance 3 marks
Commentary of your findings, red flags Conclusion 3 marks
Conclusion 1mark
TOTAL = 20 marks

 

Instructions to candidates:

    • Write your name and put your signature in the boxes at the top of this page.
    • You should write your answers clearly and show relevant workings.
  • Use Times Roman / Arial font of 12 size, 1 ½ spacing.
  • Downloading information and pasting, it in assignment is prohibited.
  • Plagiarism is an academic offence. Avoid plagiarism.
  • Should be 2000 to 2500 words. Strictly not permitted to exceed more than 2500 word limit
  • Draft checking is allowed only once.
  • The name of the file must be same of the student submitting it in the turnitin
  • The file submitted in the turnitn must contain the name & St. No. of the student.

 

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