Tutorial Letter - imm
Tutorial Letter: May 2014 examination session Management Accounting: (MA) Semester One 2014 Dear Student Please make note of the following key areas and notes pertaining to the Management Accounting (Phase out) May Examination. You are reminded that the detail provided herein is merely a guideline for clarity and direction and you are encouraged to complete the entirety of the module content as outlined in the Learner Guide. Exam Structure The paper consists of six (6) questions resulting in an exam total of 100 marks. All questions must be attempted. Question 1 (10 marks) – Multiple choice questions involving predominantly theoretical concepts including definitions and isolation of core concepts. from all study units. Question 2 (31 marks) – Short theory questions examining multiple independent topics including, but not limited to, apportionment bases for overhead costs, cost classification (relevant costs) from Study Unit 2, limiting factors theory from Study Unit 2, the relationship/differences between financial and management accounting etc. Question 3 (15 marks) – Relevant costing in terms of calculating the contribution per limiting factor for various products. Question 4 (12 marks) – Capital investment decisions (Study Unit 5) in terms of calculating the Net Present Value and making recommendations based on the calculations.
Exam 1st Semester 2014 Tutorial Letter
© IMM Graduate School of Marketing MA
Page 2 of 3
Question 5 (12 marks) – Cost-volume-profit/ Breakeven analysis calculations. Question 6 (20 marks) – Budgetary control calculations in terms of calculating a flexible budget and establishing variances against actual amounts with comments. Exam Content The paper is predominantly calculation based (59%). However, there are theoretical components within each question from all study units. You will be asked to offer interpretations of some of your figures calculated in some scenarios.
Calculation focus: o
Net present value (with given cash flows and discount factors.),
o
CVP analysis (Break-even units/rands, contribution, fixed costs, margin of safety etc.),
o
Budgeting (Flexing the budget) etc.
o
Marginal costing calculations for decision making. Contribution calculations.
You are reminded to have fully grasped the following concepts amongst others in order to master the topics covered in the examination: o
Break-even / CVP analysis (including changing variables),
o
Cost classification (fixed vs. variable costs, relevant costs, opportunity costs etc.),
o
Relevant costing (including contribution per limiting factors),
o
Budgeting (flexed budgets with variances).
General You must show your workings and calculations where necessary and ensure that they can be easily referenced. Examiners will not ‘hunt’ for substantiating workings. This has cost students in the past. There are some questions which provide suggested formats/headings. These are to be used as a guide and time must not be wasted on formats unnecessarily. There is NO specific answer sheet provided in this exam. All answers must be filled in the answer book provided including the multiple choice as per the exam instructions.
Exam 1st Semester 2014 Tutorial Letter
© IMM Graduate School of Marketing MA
Page 3 of 3
Marks will be forfeited for not adhering to the required by providing too much or too little information. Use mark allocation as a guide as to how much information is required when formulating your responses. Number all questions CLEARLY and indicate ‘End’ when you have completed all questions in the exam. All relevant ratios are provided for the financial analysis question, however, breakeven analysis formulae need to be studied independently. Negative/subtracted/cash outflows amounts must be clearly shown through the use of brackets ‘()’ with those amounts. Failing to indicate the separation of positive and negative values will cause you to lose marks May we also remind you that we are always available to assist with academic queries. Academic queries should be submitted in writing to: [email protected].
Kind regards
IMM GSM Team
Exam 1st Semester 2014 Tutorial Letter
© IMM Graduate School of Marketing MA
Exam 1st Semester 2014 Tutorial Letter
© IMM Graduate School of Marketing MA
Page 2 of 3
Question 5 (12 marks) – Cost-volume-profit/ Breakeven analysis calculations. Question 6 (20 marks) – Budgetary control calculations in terms of calculating a flexible budget and establishing variances against actual amounts with comments. Exam Content The paper is predominantly calculation based (59%). However, there are theoretical components within each question from all study units. You will be asked to offer interpretations of some of your figures calculated in some scenarios.
Calculation focus: o
Net present value (with given cash flows and discount factors.),
o
CVP analysis (Break-even units/rands, contribution, fixed costs, margin of safety etc.),
o
Budgeting (Flexing the budget) etc.
o
Marginal costing calculations for decision making. Contribution calculations.
You are reminded to have fully grasped the following concepts amongst others in order to master the topics covered in the examination: o
Break-even / CVP analysis (including changing variables),
o
Cost classification (fixed vs. variable costs, relevant costs, opportunity costs etc.),
o
Relevant costing (including contribution per limiting factors),
o
Budgeting (flexed budgets with variances).
General You must show your workings and calculations where necessary and ensure that they can be easily referenced. Examiners will not ‘hunt’ for substantiating workings. This has cost students in the past. There are some questions which provide suggested formats/headings. These are to be used as a guide and time must not be wasted on formats unnecessarily. There is NO specific answer sheet provided in this exam. All answers must be filled in the answer book provided including the multiple choice as per the exam instructions.
Exam 1st Semester 2014 Tutorial Letter
© IMM Graduate School of Marketing MA
Page 3 of 3
Marks will be forfeited for not adhering to the required by providing too much or too little information. Use mark allocation as a guide as to how much information is required when formulating your responses. Number all questions CLEARLY and indicate ‘End’ when you have completed all questions in the exam. All relevant ratios are provided for the financial analysis question, however, breakeven analysis formulae need to be studied independently. Negative/subtracted/cash outflows amounts must be clearly shown through the use of brackets ‘()’ with those amounts. Failing to indicate the separation of positive and negative values will cause you to lose marks May we also remind you that we are always available to assist with academic queries. Academic queries should be submitted in writing to: [email protected].
Kind regards
IMM GSM Team
Exam 1st Semester 2014 Tutorial Letter
© IMM Graduate School of Marketing MA
