Exam Hints Semester 2, 2014
How to get the best score in your exam!
如何在考试中取得最佳成绩
READ THE INSTRUCTIONS FOR EACH QUESTION
仔细阅读每个题型的说明
Matching questions 配对题
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be sure you understand what the key terms mean
确保理解关键词的意思；
dictionary definitions may be wrong
词典里的定义也许不正确；
ask your teacher to practise this in class
让你老师在课堂上与同学们练习。
Short Answer questions 简答题
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read the questions very carefully
仔细阅读每个问题；
focus on what the question is actually asking not just key words
着重理解整个问题的意思而非简单理解关键词的意思；
always write answers in your own words
记得用你自己的话写出答案；
questions may ask for examples. Use your knowledge of the world around you for
examples
有的问题可能让你写出例子 – 利用自己所知道的写出例子；
you must prove that you can apply knowledge not just memorise it
答案中必须要证明你能够运用所学到的知识，不只是将内容背写下来就可以了；
ask your teacher to practise this in class
让你老师在课堂上与同学们练习。
Essay or extended answer questions 作文或者较长的答题
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read the instructions very carefully
仔细阅读答题的说明；
an essay requires introduction, a body and a conclusion. You will receive marks for this
presenting in this format
作文应该包括介绍、内容以及总结。沿着这个格式的作文有得分；
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do not write lists – use sentences
不要写清单 – 写句子；
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always give examples from your own experience
记得用你自己的经验写列子；
ask your teacher to practise this in class
让你老师在课堂上与同学们练习。
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Exam Hints Semester 2, 2014
Case Study questions 案例分析题
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read the questions very carefully
仔细阅读每个问题；
case studies require you to apply your knowledge
案例分析题是考验你应用知识的能力；
writing what you have memorised is not enough
只写下你背过的内容还不够；
if you are told the Case Study in advance (in some IB subjects), read it thoroughly and try
to connect what it says about the world outside.
如果事先给你了案例分析题（部分国际商务科目），你要仔细阅读，尽量让答题的内容与
外面世界的情况联系起来；
ask your teacher to practise this in class
让你老师在课堂上与同学们练习。
Mathematics and Accounting questions 数学和会计题
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You MUST show all of your working – not just the answer.
不能只提供答案，必须把整个计算过程写下来；
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the marker needs to see if you know how to answer the question
判卷老师要知道你会不会解答。
Lastly 最后
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try every question
要尽力回答所有问题；
if you write nothing, you can only be given zero marks
如果什麽都不写，不得分。
General Information:考试规定
All exams will be of two hours duration.
所有的考试时间为两个小时。
 Resit and Supplementary exam information is in your Student Information Kit
有关补考的信息请见学生信息手册；
 Any student caught cheating will fail the assessment and have to repeat all of the subject
如有学生考试作弊，其成绩会视为不及格，并要重新补修所有科目；
 Mobile phones are NOT permitted in the assessment room
考场中禁止带手机；
 Only non programmable calculators are allowed
只能使用无编程功能的计算机；
 Paper dictionaries will be given out randomly if required
如需要，可以提供纸质词典；
 Most exams are worth 70% of the final mark
大多数的考试成绩将等占有最后分数的 70%；
 To pass a unit students must:如不挂科，学生必须：
o receive a pass in this exam 通过考试 AND
o receive a pass in the internal component of the assessment
通过中方院校规定的考试
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Exam Hints Semester 2, 2014
All exams account for 70% (except PP)
OSP101A Economics
Question 1. (5 Marks) Matching definitions with the correct economic term selected from a given
list.
Question 2. (10 marks) Multiple choice questions selected from the entire content of the subject.
Question 3. (12 marks) Calculating Price elasticity of Demand and its relationship to Total
Revenue.
Question 4. (13 Marks) Market economies and answering the economic problem. The behaviour
of competitive and non-competitive markets analysing features including allocative efficiency and
consumer/producer surplus
Question 5. (10marks) GDP and its components. What effect that some components have on
economic growth, Current and Capital accounts
Question 6. (10 marks) Price ceilings/caps and their effect on a specific market. Is it good for
consumers or does it lead to problems. How can the problem be rectified.
Question 7. (10 marks) A Consumer Price Index and how it is arrived at. How a component of the
basket may be very inflationary and what is its probable cause.
OSP102 Marketing
Section 1:
a matching type question where five (5) key marketing terms and concepts
have to be matched to definitions (5 marks)
Section 2:
10 multiple choice questions related to key concepts of Marketing (10 marks)
Section 3
6 short answer questions related to the following topics:
Orientation to the markets
Chap 1
Marketing research data
Chap 3
Product life cycle
Chap 4
External factors that affect pricing
Chap 5
Sales promotion
Chap 7
Consumer Buying process
Chap 8
NB all questions will require you to apply knowledge and show understanding
Section 4
1 essay answer question –related to the impact of the macro-environment on the
Marketing Mix (20 marks)
OSP103 Business Mathematics and Statistics
(All mathematical formulas and tables will be provided)
Question 1: 10 Multiple choice questions (10 marks)
-Topics 1, 2, 6 & 7. (Some questions require calculation).
Question 2: 3 Questions (10 marks)
-Topic 4 Annuities
Question 3: 6 Questions (10 marks)
-Topic 9 Measures of dispersion
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Question 4: 3 Questions (6 marks)
-Topic 11 Index numbers
Question 5: 3 Questions (10 marks)
-Topic 13 Normal distribution
Question 6: 6 Questions (10 marks)
-Topic 10 Measures of correlation and regression
Question 7: 4 Questions (7 marks)
-Topic 8 Measures of central tendency
Question 8: 4 Questions (7 marks)
-Topic 12 Time series analysis
OSP106 B Accounting 1:
Section A Ten (10) Multiple Choice Questions
Section B Ten (10) Matching Questions about
1) Assets
2) Liabilities
3) Owner’s equity
Section C. Seven (7) Problem Solving Questions related to:
understanding and being able to read the ledger accounts (especially the accounts of
Debtor/Account Receivable and Creditor Account Payable)
able to input data into the correct side (Dr. or Cr) of the account and calculate the balance.
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Double entries - record the transactions into ledger accounts
(using perpetual inventory account – record the goods into
stock/inventory account)
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Trial balance:
able to prepare trial balance; able to make correction for the mistakes of the trial balance
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Subsidiary account and account reconciliation
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Record transactions into General Journal
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Posting from cash journals and general journal to ledger accounts
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Work out Petty Cash Book
prepare Bank Reconciliation Statement:
Able to complete Cash Payment and Cash Receipt Journals
Able to complete Cash at Bank account in the General Ledger
Able to make the bank reconciliation statement
Total
70% of unit result
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OSP107 Business Law
This is an OPEN book exam. Answers must be written in students own words. Copying
from text will be penalised!
Section A: 10 Multiple choice questions (10 marks)
-Topics 1-7
Section B: 10 Vocabulary matching questions (10 marks)
-Topics 1-7
Section C: 6 Questions (30 marks)
1. Components of the legislative process
2. Illegal sales practices under ACL
3. Government jurisdiction
4. Capacity under contract law
5. Court jurisdiction and ADR
6. Intention to create a contract
Section D: 3 Questions (20 marks)
1. ACL breaches and remedies
2. Contrasting between two business structures
3. Tort of negligence case analysis using the IRAC method
OSP108 International Business
Section A: 10 Multiple Choice Question (5 marks)
Question set are spread across the entire 17 chapters of the textbook to provide coverage for the
syllabus and learning outcomes.
Students are expected to pay attention in class while lecturers teach each chapter.
Section B: 10 Matching Question (5 marks)
Question set are spread across the entire 17 chapters of the textbook to provide coverage for the
syllabus and learning outcomes.
Students are expected to pay attention in class while lecturers teach each chapter.
Section C: 6 Short Answer Question (30 marks)
The questions set are related to the following chapters / topics as follow:
Question 1 : Chapter 3 (Global Business - Culture , Ethics and Norms)
Question 2 : Chapter 10 (Entrepreneurial Firms)
Question 3 : Chapter 10 (Entrepreneurial Firm & Types of Business)
Question 4 : Chapter 8 (European Union )
Question 5 : Chapter 10 (Entrepreneurial Firms-Market Entry Choice)
Question 6 : Chapter 13 (Strategy and Structure )
Students are expect to apply concepts and theories to practice , applying such to solve real life
organisational issue .
Section D: 3 Case Question (30 marks)
The case study is about an organisation in the skin care and cosmetic industry facing issues in
declining productive, sales and overall company profitability. The CEO Wasin faced with such a
situation called for a change in business strategy. Among one of the changes is shifting
productions overseas and an investment of 72.4 million pounds in Research & Development for
new product range. The exam case questions test students understanding in managing the
organisational issues required by Proposals A and B.
(see text below) and answer questions given to you on the exam paper
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Cosmetic Changes
Wasin Akbar is the chief executive of Natura Products a company, which is the premier supplier of
natural cosmetic products to England UK retailers.
Taking a strong environmental and ethical stance at its establishment in 2000, Natura focused on
consumers’ demands for products that were not tested animals and did not exploit people or
environment in the Third World. But by 2009 growth had come to a halt as increasing competition
appeared, forcing prices for all cosmetics downwards. Retailers were calling on Natura to offer
more favourable terms or they would look for other suppliers.
Natura had experienced a decline in operating profits – nearly 10% over the past 2 years. They had
been forced to reduce prices at a time when minimum wage legislation has forced up wages costs.
The performance of the workforce is a major concern, particularly as unemployment has fallen and
employees have found it easier to find alternative work. Wasin felt that there was increasing
competitiveness of the market for natural cosmetics and Natura had underachieved in recent years.
Wasin has made the following two major proposals:
Proposal A:
That Natura purchase a large factory in western Poland. This factory has the capacity to supply
customers in the UK and provide an opportunity to break into the prosperous European markets.
Natura then will mount a major marketing campaign to persuade European retailers to stock the full
range of the company’s products
Proposal B:
That funds be invested in developing a new range of cosmetics designed for European markets
because Natura’s product range is inadequate for the European market. A figure of 72.4million
pounds has been included in the budget for the next financial year to fund the necessary research
and development.
OSP109A International Marketing
Section A: Multiple Choice Questions are spread across all the topics of the textbook to provide
coverage for the syllabus and learning outcomes.
Section B: a matching type question where ten (10) key international marketing terms and
concepts have to be matched to definitions
Section C: Short Answers involving the following topics:
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Economic integration
Developing markets
Transnational institutions
Elements of culture
Political risk
Market entry
Global services
Section D: Extended Response question involving the following brief case study:
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As an international marketing consultant, Emma & Tom’s are seeking your advise on how they
could launch their fruit [life] juice products into the Chinese market. A selection of the fruit juice
products is provided below. The company is seeking advice on brand, pricing and distribution
strategies for the Chinese market.
You will need to answer questions related to this given to you on the exam paper.
OSP112A Strategic Management
Section A: Multiple Choice Questions involving Cost reduction of transactions, reason for a firm’s
existence, economies of scale, motive for forming an alliance, external growth, marketing strategy,
SWOT analysis, the process of culture management and so on.
Section B: Matching Questions
Section C: Short Answers involving organization’s mission and vision, strategic management
process, Porter’s typology, P.E.S.T, and specific examples.
Section D: Extended Responses involving company’s financial interests of their shareholders and
socially responsible manner.
Section E: Case Study on crisis management: (see text below) and answer questions given to
you on the exam paper
In 1982, Johnson & Johnson's Tylenol medication commanded 35 per cent of the US over-thecounter analgesic market - representing something like 15 per cent of the company's profits.
Unfortunately, at that point one individual succeeded in putting poison into tablets on retailers’
shelves. Seven people died as a result, and a widespread panic ensued about how widespread the
contamination might be.
By the end of the episode, everyone knew that Tylenol was associated with the scare. The
company's market value fell by $1bn as a result.
When the same situation happened in 1986, the company had learned its lessons well. It acted
quickly - ordering that Tylenol should be recalled from every outlet - not just those in the state
where it had been tampered with. Not only that, but the company decided the product would not be
re-established on the shelves until something had been done to provide better product protection.
As a result, Johnson & Johnson developed the tamperproof packaging that would make it much
more difficult for a similar incident to occur in future.
Cost and benefit
The cost was a high one. In addition to the impact on the company's share price when the crisis
first hit, the lost production and destroyed goods as a result of the recall were considerable.
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However, the company won praise for its quick and appropriate action. Having sidestepped the
position others have found themselves in - of having been slow to act in the face of consumer
concern - they achieved the status of consumer champion.
Within five months of the disaster, the company had recovered 70% of its market share for the drug
- and the fact this went on to improve over time showed that the company had succeeded in
preserving the long term value of the brand. Companies such as Perrier, who had been criticised
for less adept handling of a crisis, found their reputation damaged for as long as five years after an
incident.
In fact, there is some evidence that it was rewarded by consumers who were so reassured by the
steps taken that they switched from other painkillers to Tylenol.
OSP113 Customer Service Management
Part A : 10 Multiple Choice Questions (Total 5 marks )
Question set are spread across the entire 14 topics of the study guide to provide coverage for the
syllabus and learning outcomes.
Students are expected to pay attention in class while lecturer teach each chapter.
Part B: 10 Matching Questions (Total 5 marks)
Question set are spread across the entire Topic 1 - 7 of the study guide to provide coverage for
the syllabus and learning outcomes.
Students are expected to pay attention in class while lecturer teach each chapter.
Part C: Short Answers (7 Questions ) (Total 40 marks)
Questions for this section placed more emphasis on Topic 8 onwards to Topic 14.The questions
and the topic tested are as follow:
Q1 - Topic 13 On-line Fact to Face Networking
Q2- Topic 14 Creating A Networking Strategy
Q3- Topic 1 Role of Marketing in International Business
Q4- Topic 1 Role of Marketing in International Business
Q5- Topic 2 Segmenting the International Business Market and Estimating Demand
Q6- Topic 4 The Different Types of Research
Q7- Topic 8 Importance of Relationship in Business.
Each question would normally begin with a test on theoretical concepts , meaning or
understanding and this is later follow up with a short requirement on apply the theory to real work
situation / scenarios.
Part D = Case Study Total 6 Questions (Total 30 marks)
In this exam, there are 3 mini cases each emphasis different customer relationship and service
areas as outlined in the Holmesglen study guide outline.
(see text below) and answer questions given to you on the exam paper
Mini Case 1 : Disneyland
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Students are tested on the understanding of the following topics :
(1) relationship management as an important organisation philosophy
(2) customer relationship is a holistic approach involving different levels of staff (Question 1)
(3) organisation need to empower staff in a complete process of delivering customer relationship.
(Question 2)
Disneyland
The staff at Disneyland are either on-stage or off-stage. Onstage, everyone participates in a show,
regardless of whether they are actors in the traditional sense, sell tickets, serve hamburgers or pick
up litter. Consequently, everyone knows their part, and this creates satisfied customers. One of the
ten commandments of Disneyland says: “We're on stage and we know our role in the show. We're
entertainers, we know our "scripts" , we know our standards and we never miss a cue. We
consistently give a good show - all the time".
Source: Gummesson., 2002, Total Relationship Marketing, p.199
Mini Case 2 : Jane Smith and RC Zein Hotel
Students are tested on the understanding of the following topics:
(1) essentials ingredients of a relationship
(2) relationship loyalty
Jane Smith and RC Zein Hotel
Jane Smith is on her third business trip this month. She takes a taxi from Tullamarine Airport to the
RC Zein Hotel, her favourite hotel. As the doorman opens the car door for her, he greets her,
"Welcome back to the RC Zein, Mr Smith," When she goes to the registration desk, the receptionist
gives her the room key and asks if she would like to have her stay charged to her American
Express card. Then she goes to her room and finds just what she prefers - a room with a view of
the river, a single queen-sized bed , and an extra pillow and blanket, a fax machine connected to
her telephone , and a basket with her favourite fruit and snacks.
Mini Case 3 : Interdependence between the customer and the organisation
Students are tested on the understanding of the following topics:
(1) customer expectations of service
(2) customer perceptions of service
Interdependence between the customer and the organisation
Most organisations says that they value their customers and promote the idea that they want to
satisfy their customers' wants and needs. They strive to attain customer loyalty, but what is lacking
most of the time, however, is loyalty from the organisation's side. More often than not , the
customer contributes to the relationship by trying to be faithful to the brand and promoting the
product or service by word of mouth. In return for this, the customer expects special treatment
from the organisation, which does not happen
One of the best examples is the situation where new customers are given better rates(eg in the
Australian banking , ISP -Internet Service Providers and mobile phone industries ) than the old
(committed) customers. This is perceived in a negative way by the "old" customers and influences
their customer satisfaction level. Offering committed customers special rates , expanded hours of
service, help-lines with no queues , or free products or service will reassured these customers as
to how important they are to the organisation.
Source: Murphy -D.,C.,& Copp A.,T., 2006.Customer Relationship Management &Customer Service.,
p55-56
OSP114 Effective Team Management
Section A: 10 Multiple Choice Question (10 marks)
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Question set are spread across the entire 14 chapters of the textbook to provide coverage for the
syllabus and learning outcomes.
Students are expected to pay attention in class while lecturers teach each chapter.
Section B: 10 Matching Question (10 marks)
Question set are spread across the entire 14 chapters of the textbook to provide coverage for the
syllabus and learning outcomes.
Students are expected to pay attention in class while lecturers teach each chapter.
Section C: 7 Short Answer Question (35 marks)
The questions set are related to the following chapters / topics of the textbook as
follow: :
Question 1)- Organisational Culture
Question 2)- Group and Team
Question 3) -Types of Group and Team
Question 4)- Stage in Group development
Question 5)- SWOT Analysis
Question 6)- SMART in relation to goals and plan
Question 7)- Task Environment
Almost every question would require students to relate theory to practices. Students are expected
to use practical examples or to apply learned theory to solve real life or scenario issues. The
purpose of the exam is to test such application skills of students
Section D Case Study : CRIX Office Automation System (15 marks)
3 Questions relating to the case facts covering the following areas:
Effective Teams - Study Guide Topic 2
Organising -Chapter 5 (Cornerstones of Management)
Leading - Chapter 6 (Cornerstones of Management) & Study Guide Topic 6
(see text below) and answer questions given to you on the exam paper
CRIX Office Automation System
CRIX System is an office automation company in Beijing. The company sells office machines and
equipment to many local and foreign companies operating in the CBD areas. Six months ago, its
National Sales Manager was promoted to another subsidiary company in Shanghai. The
replacement is Steven Liu. He has been told to increase sales turnover by 15% and to build a highperforming sales team. However, prior to Steven Liu’s appointment the team has not been working
effectively and morale was low. Last year’s sales were 20% over target. The existing sales team has
a mix of Chinese from various provinces because CRIX System planned to expand to other cities in
China. There are several problems identified as follows:
1)
The manager always asked for detailed sales reports, and is disliked by experienced staff
2)
Staff are often late and they don’t attend meetings and communication is affected.
3)
The staff often deny responsibility when mistakes are made and they blame each other
4)
Some group members could not work together as a team
5)
The team lack creativity and were intolerable of criticism.
6)
Both the manager and team member were fond of their past good old days. .
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Exam Hints Semester 2, 2014
The Director of CRIX System calls you and the Operations Manager for a meeting. During the
meeting , the selection of an effective sales team members is the main agenda. Steven Liu is
responsible for recruiting the new team and if necessary terminating inappropriate staff from the
team.
OSP115A International Law
Section A 10 multiple choice questions (all chapters)
Section B 10 vocabulary matching questions (all chapters)
Section C 10 short answer questions on the following topics:
-2 questions on incoterms. Identification and duties of the buyer and/or seller.
-Bill of Lading characteristics & issues
-Sources of international law
-2 PICC principles & scope
-Bill of exchange
-Economic globalization
-International organizations
Section D 3 Questions. Review the following in preparation for the extended answer section.
-ADR
-The doctrine of limitations on damages
-Prutch v. Ford Motor Company
-Commercial Bank of Australia Ltd. v. Amadio
Professional Practice Exam Hints S2 2014
Section A: 5 Multiple choice questions (5 marks)
-All modules
Section B: 5 Vocabulary matching questions (5 marks)
-All modules
Section C: 7 Questions (25 marks)
1. Strategies for prioritizing tasks and improving time management
2. Workplace discrimination
3. Teamwork communication barriers and strategies for improvement
4. Sustainability issues for the financial services industry
5. Identifying the financial industry regulators and their specific roles.
6. The role of the government in the economy
7. Presenting information
Section D: 1 Question (15 marks)
-WHS analysis question from Module 3. It is recommended students read Module 3.1.
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Exam Hints Semester 2, 2014
OSP119A FINANCIAL REPORTS
Section A: Multiple Choice Questions involving Cost of Goods Sold, Depreciation and
Accumulated Depreciation, How transactions will influence the accounting equation, capital
expenditure, intangible asset, general journal entry, financial expense and so on.
Section B: Calculation and Reporting involving:
Record transactions in the General Journal;
Prepare an income statement;
In the general journal record both the original payment and the balance day adjustment;
Post the journal entries to the relevant accounts such as prepaid and accrued expenses in the
general ledger and process the General journal entries and post them to the relevant accounts;
Conduct balance day adjustment and reversal;
To record purchase of plant, Dep. using straight line method, Disposal of Asset, Transfer acc.
Dep. On disposal, proceeds of sale and transfer profit;
Using Post Closing Trial Balance to prepare a classified balance sheet.
OSP 122 Financial Statements
Seven (7) Problem solving questions
- Ratio calculation
Know how to calculate the ratios
Understand the meaning/results of the ratios
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From incomplete records/single entries to work out double entry information e.g. calculate
profit, restrict the accounts and work out income statement and balance sheet.
Comparison Method for calculation profit
Accounts re-construction (focus on Accounts Receivable and Accounts Payable)
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Cash Flow Statement
From the information given to work out the Cash Flow Statement
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Leases
Work out / calculate the schedule of lease payment
Write the General Journal
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Partnership
1) Partnership formation:
work out the General Journal of the formation
work out the partnership balance sheet
2) Partnership profit appropriation
Record all the related transactions to General Journal
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Exam Hints Semester 2, 2014
OSP123 Budgeting 1 and 2
10 Multiple Choice questions
8 Problem Solving questions on:
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Question 1: Prepare sales and production budgets
Question 2: Prepare a monthly fees income budget
Question 3: Prepare a cost of production and a cost of goods sold budget
Question 4: Prepare a a quarterly purchases budget
Question 5: Prepare an income statement
Question 6: Calculate price and usage variances
OSP124 Business Tax
This is a CLOSED book exam. Marks increase in value from Q1 to final Q.
Section A Ten (10) Multiple Choice Questions
Section B Five (5) Matching Questions about
1) PAYG withholding and PAYG installment
2) GST collection process in a business/industry chain
Section C. Seven (7) Problem Solving Questions:
PAYG installments (can work out option 1 and option 2 sheet)
PAYG tax withheld
GST (GST calculation work sheet)
LCT
WET
FBT calculation
Comprehensive question (PAYG withheld, PAYG installment and GST together)
Total
70% of unit result
OSP127 INCOME TAX
The final exam is OPEN BOOK.
10 Multiple Choice questions
3 Short Answer questions
8 Problem Solving questions on:
- Calculation on Tax free threshold, Assessable Income, Taxable Income, Medical Levy and
Surcharge, Low income tax offset and tax payable.
- Foreign income tax offset
- Exempt income on income from working overseas
- Decline in value and disposal on depreciating assets; Diminishing Value method
- Calculate gain/loss on disposal of the depreciating assets and motor vehicle
- Capital gain on properties by Frozen Index and Discount method
- Tax offsets of Spouse Tax Offset and Parent Tax Offset, SNI
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Exam Hints Semester 2, 2014
OSP128 Company Financial Reporting
Section A: Multiple Choice Questions involving general journals, Calls In Arrears, written down
value of investment, fallen Goodwill, notes to income statement, cash flow from operating activity,
company purchases shares in another company, consolidation journal, consolidation journal and
so on.
Section B: Calculation and Reporting:
Prepare a reconciliation between accounting profit and taxable income, and prepare the
general journal entry to record current tax;
Prepare the Profit and Loss Account and Profit and Loss Appropriation Account and an Income
Statement for DH Ltd for a year;
Using the above Trial Balance, and taking into account the necessary adjustments,
prepare a Balance Sheet as at 30 June 2014 and a Statement of Changes in Equity that
comply with the Accounting Standards;
determine all cash movements in the worksheet;
Complete the integrated worksheet when company A acquired all the issued shares of company
B.
OSP129 Management Accounting
Q1
Q2
Q3
Q4
Q5
Prepare manufacturing overhead application rate, variances and over/under applied
overheads
fixed and variable overhead determination
Calculate Hi Low Method rates
Reallocation of Service departments using direct method
Absorption costing, direct costing calculate unit cost
2 months of Income Statements
Reconciliation of different profits
Break Even Analysis, Cost, Volume and Profit
Contribution margin, Contribution margin ratio, breakeven analysis in units and Dollars
Target profit before tax and after tax
Adjustments for different cost variance scenarios
OSP130 Internal Control
Section A: Multiple Choice Questions involving corporate structure, Executive or non-excutive
directors, Board of Directors, internal control system, purchase order, receiving department,
credit application, external auditor, internal audit department
Section B: Matching Questions
Section C: Short Answers involving internal control, segregation of incompatible duties, error and
irregularity, management fraud, internal auditing and external auditing and specific internal
control activities.
Section D 2 Case studies on changes you would make to internal control system.
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Exam Hints Semester 2, 2014
OSP131 Financial Management
Section A: Multiple Choice Questions involving functions of a financial manager, cash reserves,
Activity (Efficiency) Ratios, feature of the equity funds, cost of not taking the discount, times of
PER, payback period, average investment method, Internal rate of return, the mix of debt and
equity and so on.
Section B: Matching Questions
Section C: Short Answers on internal finance; advantages and disadvantages of accounting rate
of return, internal rate of return, payback period and so on.
Section D: Calculation:
Complete the financial ratios for each year;
The weighted average cost of capital for a company;
What is the accounting rate of return using
a) Average investment method
b) Total investment method;
Evaluate the options in terms of earnings per share; And at what level of earnings before interest
and taxes would the company be indifferent between proposals;
Calculate the net present value of each project, and advise the company which project it should
accept
OSP133 Budgeting 2
Question 1: Prepare a production budget and a materials purchases budget;
Question 2: Prepare a cost of production budget showing unit costs and cost components;
Prepare a valuation of closing inventory in component costs (assuming inventories are accounted
for on a first-in, first-out basis); Prepare a cost of goods sold budget for September and explain
the difference between factory overhead and factory overhead applied.
Question 3: Prepare a factory overhead budget
Question 4:
a)
b)
c)
d)
Prepare a schedule of collections from Accounts Receivable for October to December
Prepare a schedule of payments to Accounts Payable for October to December
Prepare a Cash Budget for October to December
Calculate the Accounts Receivable balance at the 31st December using the cash basis of
accounting for GST
e) Calculate the GST owing or claimable from the ATO for the quarter using the cash basis
of accounting for GST
f) Calculate the Accounts Receivable balance at the 31st December using the accruals
basis of accounting for GST
g) Calculate the GST owing or claimable from the ATO for the quarter using the accruals
basis of accounting for GST
Question 5: Calculate the direct material price variance and direct material usage variance for
pork and veal. Explain the variances.
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