There are various roles within the finance and accounting function. A trainee accountant first joining the profession can take some time learning the different aspects of each before making a decision on specialising in any particular direction.
Below are different components of the finance function. Match these with the examples of responsibilities listed.
The board of company B, a small company, is meeting to discuss the financial year end accounts following the first year of a consolidation of operations.
Of the results provided, select whether each set of information should be reported externally or internally.
Which of the following is an advantage of outsourcing?
Arrange the stages of the product life-cycle in the correct order.
The Statement of Financial Position is NOT normally used to make decisions concerning which of the following?
You work for a pharmaceutical company and during any one year cames out a range of different activities and projects. Which of the following sets of activities can be said to be connecting influence to impact?
Company A works closely with its customers, suppliers and other business partners. It securely shares part of its private network with this group of stakeholders
Which of the following best describes the type of network that Company A operates?
A company sells double glazed windows. It has traditionally adopted a sales orientation and used aggressive direct selling techniques. As part of a new initiative, it is exploring its options to update its business philosophy.
Which of the following would be the most effective orientation for this business?
Company P has revised its corporate and marketing objectives following a recent expansion in the primary market within which it operates. The next step is to devise an appropriate marketing strategy. Company P has conducted primary and secondary market research and this information is in the process of being analysed to establish the needs of the subjects. At which stage of the marketing strategy process is Company P?
Corporate governance in the UK, that provides guidance regarding areas such as directors, internal controls and remuneration, is largely defined by which of the following?
Data profiling forms an essential element of the extraction transformation and loading process. Which of the following best describes data profiling?
Workforce flexibility takes a number of different forms. Which of the following achieves flexibility where employees have the ability to move between tasks as and when required by the organisation?
Which TWO of the following are activities associated with setting up a new IT system?
Assessment centres can use a range of techniques to assess an applicant's competencies against pre-set criteria. Which document would set out the competencies required for them to compare against?
Which of the following describes a disadvantage of succession planning?
Which THREE of the following suggest an independent approach to organisational purchasing according to Reck and Long?
Cloud computing is a growing IT strategy In which THREE of the following situations would this be a sensible IT strategy?
Which of the following is a reason why businesses need to prepare statutory reports?
Which of the following specifically describes experiential marketing?
Who is responsible for the strategic leadership of the finance team?
A company is expanding its baby clothing product range to include all items for infants, for example feeding and bathing equipment. As this is a new venture for the company, the Board of Directors has agreed that market research is a necessary exercise, but it is undecided as to which is the most efficient and effective method. Which of the following methods of research would be most appropriate?
A company is charging a high price for a product to individuals who are prepared to pay a premium for a new, innovative product Whilst doing this they are facing high marketing costs
Which stage of the product lifecycle is this product at?
The structure of an organisation is likely to change as the organisation develops and grows. Which type of structure is associated with an organisation which is in its early days?
In which THREE of the following situations is Cloud a sensible IT strategy?
Which of the following organisations would best describe a 'professional bureaucracy'?
Which of the following statements is correct in relation to a tall organisation?
A is developing a new mission statement. Which TWO of the following should NOT be included?
Which of the following can facilitate innovation within an organisation?
Select ALL that apply.
M is employed by an organisation that operates a chain of high street coffee shops. She has made a decision to purchase a failing cake shop in order to take it over and expand the presence of the organisation in the local area. According to Mintzberg, which part of the organisation does M belong to?
P works within Company A as a legal advisor. She is also trained in Human Resources (HR) and the Managing Director has asked for her help in dealing with some disciplinary issues. This will involve her temporarily transferring away from her legal role. Which organisational form has the HR assistance taken?
AB Company is currently the sole supplier of raw material to XY Company and has recently increased its prices. This has been highlighted by a raw material price variance in the management reports of XY Company, and in order to correct this the Finance Director has recommended that an alternative cheaper supplier be found as soon as possible. The Purchasing Department has indicated that only AB is able to supply all of the company's requirements and has been doing so reliably to a high quality on a just-in-time (JIT) basis for many years. Finding an alternative will involve purchasing from several unknown suppliers. Which of the following are possible consequences of this decision?
Select ALL that apply.
Which of the following is NOT an advantage of remote working for an organisation?
Which of the following are benefits of appraisals? Select ALL that apply.
K manages the finance function of a cable manufacturing business In order to cope with an increasingly diverse workload K needs human resources to recruit someone with a digital mindset
Which THREE of the following individual charactenstics should K emphasise to human resources as important in finding the right candidate?
More and more organisations are developing their supply chain networks by building closer links with suppliers. Which THREE of the following are considered to be features of this trend?
Which of the following best describes a virtual team formed by individuals from different companies to achieve a common aim?
Which of the following would work as Support Staff in Mintzberg's organisational structure?
Which of the following statements best describes data extraction?
XY Company is a manufacturing company making a variety of products for sale in different markets. Which of the following is the most likely organisational structure that such a company will adopt?
S is employed within the accounting function of a small company. Due to the size of the company, there are not enough resources for separate accounting functions so S is responsible for both management and financial accounting tasks. As the company is so small there is no requirement for audit. However it does make use of the services of an external certified accountant for statutory accounting and taxation services. According to Mintzberg, in which part of the organisation does the external accountant belong?
Which of the following is one of the five key areas of an effective approach to corporate digital responsibility (CDS)?
At his recent appraisal CD discussed his development needs with PQ, his line manager. In particular CD has said that he would like the opportunity to take on more responsibility. Which of the following job design techniques could PQ use to support CD's development?.
AB Company operates a capital intensive production process and cannot quickly add capacity. Which of the following best describes this production strategy?
Which of the following best defines Business Process Re-engineering (BPR)?
