Tutorial Letter - imm
Tutorial Letter: May 2014 examination session Financial Management 101: (FM101) Semester One 2014 Dear Student Please make note of the following key areas and notes pertaining to the Financial Management 1 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 seven (7) questions resulting in an exam total of 100 marks. All questions must be attempted. Question 1 (10 marks) – Multiple choice questions involving short calculations and solving for unknown values, journal entries as well as theoretical concepts from all study units. Question 2 (22 marks) – Short questions examining multiple independent topics including, but not limited to, VAT theory and pricing calculations from Study Unit 3, definitions of accounting elements and financial statement disclosure from Study Units 1 & 2 and cost classification from Study Unit 4. Question 3 (25 marks) – Including budgetary control concepts covered in Study Unit 7 predominantly focused on the calculations and preparation of a cash budget. Question 4 (10 marks) – Concepts of labour and overhead costing covered in Study Unit 6 focussing on job costing. Question 5 (16 marks) – Involving transaction analysis and the effects of transactions on the Basic Accounting Equation covered in Study Unit 1. Question 6 (11 marks) – Basic accounting concepts and year-end adjustments covered in Study Units 1 & 2. Question 7 (6 marks) – Company financial statements calculations relating to changes in equity covered in Study Unit 2.
Exam 1st Semester 2014 Tutorial Letter
© IMM Graduate School of Marketing FM101
Page 2 of 2
Exam Content The paper is predominantly calculation based. 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: Stock valuation calculations, accrual adjustments, figures for the analysis of transactions, Job costing calculations, income statement calculations, cost of sales calculations and calculations aiding the formulation of a cash budget as well as selling price, mark-up and VAT calculations. You are reminded to have fully grasped the following concepts amongst others in order to master the topics covered in the examination: Financial statement accrual adjustments, identifying the accounting elements (assets, liabilities, incomes and expenses) according to the definitions and disclosure criteria learnt, company accounting regarding the structure of equity, the effect of transactions on the accounting equation including debits and credits, the concept of budgeting and the formats and calculation of a budget (i.e. cash budget), cost classification (fixed vs. variable etc.), as well as Job costing. 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. 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. 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 FM101
Exam 1st Semester 2014 Tutorial Letter
© IMM Graduate School of Marketing FM101
Page 2 of 2
Exam Content The paper is predominantly calculation based. 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: Stock valuation calculations, accrual adjustments, figures for the analysis of transactions, Job costing calculations, income statement calculations, cost of sales calculations and calculations aiding the formulation of a cash budget as well as selling price, mark-up and VAT calculations. You are reminded to have fully grasped the following concepts amongst others in order to master the topics covered in the examination: Financial statement accrual adjustments, identifying the accounting elements (assets, liabilities, incomes and expenses) according to the definitions and disclosure criteria learnt, company accounting regarding the structure of equity, the effect of transactions on the accounting equation including debits and credits, the concept of budgeting and the formats and calculation of a budget (i.e. cash budget), cost classification (fixed vs. variable etc.), as well as Job costing. 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. 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. 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 FM101
