TOPIC 1
THE CONTEXT OF MANAGEMENT ACCOUNTING
QUESTION 1
April 2024 Question Two A
Describe THREE roles of management accounting in an organisation. (6 marks)
QUESTION 2
April 2024 Question Three A
Management accounting is a discipline that communicates economic information to various parties known as “end-users”.
With reference to the above statement, outline TWO user information needs of the following end-users:
- Executives (2 marks)
- Production managers. (2 marks)
- Management accountants. (2 marks)
QUESTION 3
August 2023 Question One A
Explain THREE limitations of financial accounting which are addressed by management accounting. (6 marks)
QUESTION 4
December 2022 Question Five (b)
Highlight SIX benefits that a firm would derive from establishing a good cost accounting system. (6 marks)
QUESTION 5
August 2022 Question Five (a)
Describe four uses of management accounting information to a business entity. (8 marks)
QUESTION 6
April 2022 Question One (a)
Cost accounting uses information provided by financial accounting together with other details of internal operations of an organisation.
With reference to the above statement, describe three similarities between cost accounting and financial accounting. (6 marks)
QUESTION 7
April 2022 Question Three (a)
Discuss four challenges that you are likely to encounter when installing a costing management system. (8 marks)
QUESTION 8
December 2021 Question Five (a)
Describe four factors that could influence a company’s demand for management accounting information. (8 marks)
QUESTION 9
September 2021 Question Two A
Examine four limitations of financial accounting that have made organisations introduce management accounting. (8 marks)
QUESTION 10
September 2021 Question Four A
Evaluate three benefits that would accrue to an organisation that has a cost accounting department (6 marks)
QUESTION 11
May 2021 Question Five A
Jeremy Awuor established a fast food business one year ago and has achieved good sales but a small profit. In a recent business networking event, he was advised to consider employing a management accountant to enhance and improve his business.
Required:
- Explain to Jeremy Awuor six changes in the business environment that could have contributed to the growth and importance of management accounting in the recent past. (6 marks)
- Describe four roles played by a management accountant that would enhance and improve Jeremy Awuor’s business. (4 marks)
QUESTION 12
November 2020 Question Three A
Describe four limitations of management accounting in an organisation. (4 marks)
QUESTION 13
May 2019 Question One A
Financial accounting is the branch of accounting that organises accounting information for presentation to interested parties outside the business.
Management accounting on the other hand uses information provided by both financial accounting and cost accounting with the purpose of providing information to managers for policy formulation, planning and decision making.
Required:
With regard to the above statement, describe four differences between management accounting and financial accounting. (8 marks)
QUESTION 14
May 2018 Question One A
Describe four limitations of management accounting. (4 marks)
QUESTION 15
November 2017 Question One A
Explain four purposes of cost accounting. (8 marks)
QUESTION 16
November 2016 Question One A
Describe six skills that a management accountant should possess (6 marks)
QUESTION 17
November 2015 Question One A
Describe three benefits of management accounting. (6 marks)
