May 2016 diet: the questions by course

Management Accounting May 2016 · 3 questions

• Objective extras: Section A (multiple choice): From the previous syllabus. An item mentions co-ordination of business forecasts among the functions of budgeting, lin...
• Objective 3: From the previous syllabus. Asks which item is similar to accounting for the scrap value of abnormal gain: the scrap value of abnormal loss.
• Theory 2: A sales forecast and budget question from the previous syllabus, linking forecasts to the sales budget and the budget process.

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Financial Accounting May 2016 · 13 questions

• Objective 2: From the previous syllabus. These ask which transactions cause a difference, why a reconciliation is prepared, and which items are or are not recon...
• Objective 3: From the previous syllabus. Asks what differs between a sole trader and a company, how equity is described, and which item is not a component of eq...
• Objective 6: From the previous syllabus. Asks which costs are included in or excluded from the cost of inventories under IAS 2, such as selling costs, conversio...
• Objective 10: From the previous syllabus. Asks what a credit balance in the bank column of the cash book means.
• Objective 13: From the previous syllabus. Asks what the excess of expenditure over income is called, where the excess of income over expenditure is added, what r...
• Objective 17: From the previous syllabus. Both ask for the effect of a reduction in the allowance for doubtful debts.
• Objective 19: From the previous syllabus. Asks for the journal entries needed to remove goodwill recognised on the admission of a new partner.
• Theory 1: From the previous syllabus. Asks you to define a trial balance and explain its purpose, and to mention four errors it will not reveal. The rest of ...
• Theory 2: From the previous syllabus. A social club gives a summary of receipts and payments with subscriptions, a donation, a Christmas dance and bar taking...
• Theory 3: From the previous syllabus. Gives a trial balance and adjustments for inventory, prepaid rent, depreciation of a motorcycle at 20% of cost, accrued...
• Theory 4: From the previous syllabus. Asks for a reconciliation of the receivables control account (8 marks), a suspense account (4 marks) and a reconciliati...
• Theory 5: From the previous syllabus. A bookshop owner kept incomplete records. From his passbook, notebook, bank statements and oral information, asks you t...
• Theory 6: From the previous syllabus. Opens with items to classify as revenue or capital expenditure (4 marks), then asks for financial statements.

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Corporate and Business Law May 2016 · 6 questions

• Objective extras: Section A (multiple choice): Question 3 asks what the articles do not contain (the object clause), and Question 5 asks when an act is ultra vires. ...
• Theory 1: Onyi, Okonto and Joe: stealing, the elements, and application to money taken for a purpose and spent otherwise. Revise worked problems 1 and 2.
• Theory 2: Offer and counter-offer, and the Kehinde and Comfort problem (6 marks). Revise offer, counter-offer, termination and worked problem 1.
• Theory 3: Parties to a bill, general acceptance, and order and bearer bills. Revise parties and the order and bearer comparison.
• Theory 5: Two persons who could be secretary of a public company, three duties of a secretary, and a secretary who hired cars for his own use. Revise qualifi...
• Theory 6: Business of an AGM includes appointment of auditors and fixing their remuneration, and the audit committee members. Revise appointment and the audi...

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Taxation May 2016 · 7 questions

• Theory 1: Income tax of a Chief Accountant who changed employers, with NHF, pension, NHIS and life insurance
• Theory 2: Basis periods and capital allowances for the first three years of assessment of a new company
• Theory 3: Documents filed with a return, stockbroking information and the late filing penalty
• Theory 4: Four rules for loss relief, and unrecouped losses and capital allowances at the end of each year
• Theory 5: VAT remittable for a month, with sales returns, purchase returns and VAT already remitted
• Theory 6: Tax, fee, fine and penalty; features of tax; objectives of taxation; direct and indirect taxes
• Theory 7: Particulars on the certificate sent to the tax authority when an employee leaves employment

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Case Study May 2016 · 1 questions

• Theory extras: Case: the finance chief’s email and the SWOT requirement: The email pushes for bigger savings and mentions a personal bonus. The marking key reward...

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