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| 1 | |
In a recent survey by Robert Half International, which of the following was not identified as a mandatory skill for accountants? |
| | A) | Technical-an understanding of new applications and software, including wireless technologies. |
| | B) | Communication-strong written and verbal skills, including the ability to explain financial information in non-financial terms. |
| | C) | Interpersonal-persuasion, diplomacy, negotiation, coaching and team-building skills, to enable accountants to relate to colleagues from many different backgrounds and professions. |
| | D) | Accounting-a thorough understanding of accounting standards and their application to financial reporting. |
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| 2 | |
Management accounting: |
| | A) | provides information to help manage resources, through systems for planning (e.g. budgets) and control (e.g. performance measures) |
| | B) | provides estimates of the cost of the organisation's output (products and services), to support both the strategic and operational decision needs of managers |
| | C) | contributes to activities that seek to improve the organisation's competitive advantage in terms of quality, delivery, time, flexibility, innovation and cost, through modern process improvement and cost management techniques |
| | D) | includes all of the given answers |
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| 3 | |
Which of the following are not fundamental principles of CPA Australia's Code of Professional Conduct? |
| | A) | Integrity and independence. |
| | B) | Objectivity and ethical behaviour. |
| | C) | Confidentiality and competence and due care. |
| | D) | Efficiency and effectiveness. |
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| 4 | |
Organisational responses to changes in the business environment include: |
| | A) | implementation of activity-based cost systems |
| | B) | implementation of performance measurement systems, such as balanced scorecards and benchmarking |
| | C) | implementation of cost management systems, such as activity-based management, business process re-engineering, managing throughput, lifecycle management and target costing |
| | D) | implementation of flatter organisational structures, employee empowerment, team-based structures and supply chain management |
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| 5 | |
Management accounting responses to changes in the business environment include: |
| | A) | implementation of computerised production systems |
| | B) | implementation of activity-based budgeting systems, measures of shareholder value and supplier cost analysis |
| | C) | increased focus on continuous improvement |
| | D) | implementation of environmental management systems |
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| 6 | |
Since the mid-1990s the focus of management accounting has been on: |
| | A) | cost determination and financial control |
| | B) | provision of information for planning and control |
| | C) | reduction of waste through strategic cost management |
| | D) | creation of customer and shareholder value through the effective use of resources |
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| 7 | |
Shareholder value is: |
| | A) | the value that shareholders or owners place on the business |
| | B) | the value that a shareholder places on particular features of a product or service |
| | C) | the value placed on a shareholder due to their long-term ownership of shares |
| | D) | the profitability arising from retention of long-term shareholders |
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| 8 | |
Customer value is: |
| | A) | the value placed on a customer due to their long-term patronage |
| | B) | the difference between the price and the total cost of selling a product to a customer |
| | C) | the value that a customer places on particular features of a product or service |
| | D) | the profitability of customer retention |
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| 9 | |
A mission statement: |
| | A) | is the desired future state or aspiration of an organisation |
| | B) | is a specific statement of what the organisation aims to achieve, often quantified and relating to a specific period of time |
| | C) | defines the purpose and boundaries of the organisation |
| | D) | is concerned with the way the business competes in its chosen market |
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