Discuss the people element affecting the operational risk environment. (10) 4.2 Assess the importance of investment and financing considerations during the risk management prioritisation process. (10) 4.3 Explain the correlation between deductibles and risk management.
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QUESTION FOUR [35] 4.1 Discuss the people element affecting the operational risk environment. (10) 4.2 Assess the importance of investment and financing considerations during the risk management prioritisation process. (10) 4.3 Explain the correlation between deductibles and risk management. (15
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- QUESTION 2 (Part) Marie from question 1 expected to have a substantial income tax liability for the 2023 income year and shortly before 30 June 2023 wanted to adopt some tax planning strategies to reduce that liability. She considered the following two suggestions. ... The second alternative suggestion was a “tax effective” investment scheme that Marie heard about at a city wine bar that was a “certainty” to reduce her income tax liability. The investment was marketed by a brochure that highlighted its tax advantages and was widely promoted by a cattle investment company. It involves a cattle breeding program under which an investor agrees to lease from the cattle investment company some cows for breeding purposes and pays leasing fees for this, and then makes income from the sale of bred cattle. The initial lease period is two years during which the investor engages a cattle management company to manage the cows for breeding purposes and pays management fees for these services. An…4.1 Consider the planned construction of a new office building in a downtown area of a large city when office space is in surplus demand (i.e. more office space than users).Construct a risk analysis that examines the various forms of risk (technical, commercial, financial etc) related to the creation of this office building. (15)4.2 Explain how the analysis would change if office space were in high demand.QUESTION 12 A restaurant chain is hyper concerned about products in its supply chain that could be contaminated. The company's CEO has hired a team to manage supply chain risk. The purchasing unit is given the objective of minimizing costs. The supply chain managers and purchasing managers have potentially conficting objectives. True False QUESTION 13 If managers seek to implement an enterprise risk management system, they will become more effective managers because they will learn about the vulnerabilities of the company they are managing. True False QUESTION 14 A book publisher tries to publish 100 tities each year from 100 different authors. The books are evenly split befween fiction and non-fiction. This is an example of using diversification to manage business risk. True False
- Question 1 What kinds of input or output documents or forms would you find in the production (or conversion) cycle? Question 2 Some individuals argue that accountants should focus on producing financial statements and leave the design and production of managerial reports to information systems specialists. What are the advantages and disadvantages of following this advice? To what extent should accountants be involved in producing reports that include more than just financial measures of performance? Why?Which of the following is not a benefit of risk mapping and prioritisation? Question 5 options: Risk maps are key graphical representations of the variance in risk appetites across different divisions within an organisation. Ranking risks by their level of severity helps an organisation determine the optimal allocation of resources devoted to risk response or treatment. Helps the organisation identify how certain risks can offset other risks to ensure that the enterprise maintains an overall risk profile that remains within risk capacity. The results help an enterprise to communicate better its risk aggregated risk profile to key external stakeholders.Q.1.1 Describe how the concept of risk is important during the business management planning process. (3) Q.1.2 Distinguish between a peril and a hazard. (Hint: Use examples where applicable) (3) Q.1.3 Differentiate between priori probabilities and subjective probabilities in risk management. (3) Q.1.4 Principle two of King I report states that the board of directors and managersshould ensure that through a managed and effective process, board appointmentsare made that provide a mix of proficient directors, each of whom is able to addvalue and to bring independent judgement to bear on the decision-makingprocess. Describe how this principle is important in risk management. (3) Q.1.5 Differentiate between micro and macro risk. (3)Question 2 (Marks: 25) Q.2.1 Outline the measures used to describe possible loss accurately? (5) Q.2.2 Effective risk management does not function in a vacuum and rarely survives aleadership failure. The risk management function can review, inform,…
- Question 1 (i) What are the 5 components of the COSO framework? A. Risk assessment, control environment, control activities, information and communication, monitoringB. Control environment, risk assessment, control activities, information and communication, monitoring.C. Control activities, monitoring, information and communication, control environment monitoringD. Control activities, control environment, risk assessment, monitoring, information and communication (ii) An opinion which is given by the auditor when the financial statements give a true and fair view except for a particular matter, which the auditor explains is called:A. An adverse opinionB. An unmodified opinionC. A qualified opinionD. A disclaimer opinion (iii) Which of the following is NOT a reason why linking reward to performance may not solve remuneration problems?A. Unsuitable measures of performance may be selected B. Many performance measures are based on the short term resultsC. Remuneration systems are normally…Question 5 In the context of account classification, which of the following is a benefit of single-factor analysis? O It employs a matrix system. O It is used for goal setting. It requires no data manipulation. O It provides equal weightage to all categories of accounts. O It uses statistical analysis.homework; Q1 You are the senior management accountant for Magnum Ltd. A junior management accountant (MA) has joined the firm. Required; How would you explain to the junior MA the impact of the business environment in on management accounting as compared to the early years of management accounting? (You are to give Five (5) factors of 100 words each with expiation for the impact ) (HINT : Your explanation should demonstrate to the junior the importance of environmental impact on the business and therefore its success and sustainability. Q2 The new focus in management accounting is customer satisfaction. Consider the above statement and discuss the key factors that a management accountant must emphasize and concentrate on for the success of his organization. (You are to give Five (5) factors of 100 words each ). (HINT : Your explanation for each of the factor should demonstrate the connection between customer satisfaction and success of the business. Q3.…
- Question 31 When a firm operates in multiple geographic markets simultaneously it is said to be implementing a product diversification strategy. OA) True B) False Question 32 Multipoint competition exists when two or more diversified firms simultaneously compete in multiple markets, and multipoint competition can serve to facilitate a particular type of tacit collusion called mutual forbearance. A) True B) False Question 33 Institutional owners are usually pension funds, mutual funds, insurance companies, or other groups of investors that have joined together to manage their investments. OA) True B) FalseQuestion 2: According to the CFA Code of Ethics, analysts should "have a reasonable and adequate basis, supported by appropriate research and investigation, for any investment analysis, recommendation, or action." Briefly explain the type of research that will provide a reasonable and adequate basis for investment analysis and recommendations. (Draw upon our classes in forming your answer).Op1. Question 2 WYZ Ltd. is a manufacturing company incorporated in Ghana under the Companies Act of 2019, Act 992. After successfully conducting their external and internal audits, the company formulated and implemented some of the best strategic moves in the manufacturing industry. However, several factors hampered the delivery of the desired outcomes and the company continued to struggle with their competitiveness for several years. Required: As a Strategist, recommend five (5) issues, covering; management, marketing, finance & accounting, human resource and MIS, that could be responsible for the firm’s inability to successfully implement their strategies and meet strategy expectations. Question 3 Using the 4-point Empirical Indicators as characteristics of capabilities, conduct an appraisal of a Ghanaian company and justify why you believe they are basis for gaining sustainable comptetitive advantage .
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