Topic 1: Introduction To Accounting & Finance
Question 1 (5 Marks)
This question examines the role of management accounting in the business operations of the organisation where you are currently employed or have previously worked, hereafter referred to as “your organisation”.
The term “business operations” refer to the primary activities or core functions of your organisation, such as the sale of apparel or electronic products, furniture manufacturing or the provision of logistics and transportation services.
Required:
- Provide a concise description of your organisation’s core business operations.
- Identify and explain three specific examples where management accounting information is applied in your job role or your management’s job role. For each example, describe how the information is used to support decision-making, planning, or control within the organisation.
- The marking rubrics for this question are stated on the next page.
Marking Rubrics
|
Performance Levels |
||||
|
Excellent (4.5 to 5 marks) |
Good (3.5 to 4 marks) |
Average (2.5 to 3 marks) |
Below Average (1.5 to 2 marks) |
Poor (0 to 1 mark) |
|
Clear, concise, and insightful description demonstrating strong understanding of the core business operations. Three highly relevant and well-chosen examples directly linked to management accounting use. Each example is thoroughly explained, showing deep insight into how management accounting aids decision-making, planning, or control. |
Clear and accurate description with good understanding of the core business operations. Three mostly relevant examples with good connection to management accounting. Examples are clearly explained with good detail on application. |
Adequate description with some relevance to business operations. At least two relevant examples with adequate link to management accounting. Examples are adequately explained but with limited depth on application. |
Limited description with minimal relevance; lacks clarity on business operations. One or two weakly relevant examples; link to management accounting is unclear. Explanations are brief, lack detail, or weakly linked to management accounting functions.
|
Very vague, inaccurate, or missing description of business operations. No relevant examples provided. Explanations are missing, unclear, or show no understanding of management accounting. |
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Question 2 (11 Marks)
James has just graduated from university with a Bachelor of Business Administration. His degree programme provided him with a solid foundation in business management, marketing, accounting and finance, equipping him with essential knowledge and skills in these areas. Recognising the strong demand and profitability of Singapore’s tuition industry, James is eager to set up his own tuition centre. However, as he has limited savings and no prior experience in running a business, he is keen to bring in a business partner to share both the capital and the responsibilities.
Through a mutual friend, James is introduced to Austin, his former senior in university. Austin graduated one year earlier and has since started his own F&B café business. Although the café is relatively new, it has been performing well under Austin’s management. Inspired by Austin’s success in managing his café, James extended an invitation for him to join the tuition centre venture as a business partner.
After several discussions, James and Austin have mutually agreed that James will lead the tuition centre’s operations, while Austin continues to focus on his café. They have also decided to open their tuition centre at the newly developed shopping mall near Austin’s café. Austin expressed confidence in the location of the tuition centre, citing the steady patronage of his café by professionals and workers from nearby industrial buildings as indicator of strong foot traffic and demand.
Before proceeding further, James and Austin need to decide whether to register their tuition centre as a company or as a general partnership.
Required:
James and Austin approached you to be their business consultant. As their consultant, analyse and evaluate the key considerations they should consider in deciding whether to structure their tuition centre as a company or a general partnership.
In your answer, you should:
Compare and contrast the implications of setting up the business as a company versus a general partnership (e.g. legal liability of owner).
Recommend whether James and Austin should establish the tuition centre as a company or a general partnership and justify your recommendation with reference to the circumstances outlined in the case.
The marking rubrics for this question are stated on the next page.
(11 marks)
Marking Rubrics
| Criteria | Performance Levels | ||||
| Excellent
(5.5 to 6 marks) |
Good
(4.5 to 5 marks) |
Average
(3 to 4 marks) |
Below Average
(1.5 to 2.5 marks) |
Poor
(0 to 1 mark) |
|
| Comparison of ownership structure
(6 marks)
|
Thorough, accurate, and balanced comparison of company vs general partnership, covering all key aspects.
Strong contextualization to scenario. |
Clear and mostly accurate comparison of company vs general partnership, addressing most key aspects.
Some application to scenario but with minor gaps. |
Generally accurate comparison of company vs general partnership, covering basic aspects.
Limited scenario application. |
Comparison of company vs general partnership is vague, incomplete, or only partially correct.
Mostly generic with little reference to scenario.
|
Minimal or inaccurate comparison of company vs general partnership
No meaningful application to the scenario. |
| Excellent
(4.5 to 5 marks) |
Good
(3.5 to 4 marks) |
Average
(2.5 to 3 marks) |
Below Average
(1.5 to 2 marks) |
Poor
(0 to 1 mark) |
|
| Justification of recommended ownership structure
(5 marks) |
Clear, logical, and persuasive recommendation.
Strongly justified using scenario details and linked to earlier comparison. |
Recommendation is sound and mostly well-justified.
Uses scenario details, but reasoning may lack depth in parts. |
Recommendation is reasonable but justification is limited or somewhat generic.
Partial link to scenario. |
Recommendation is weakly justified, with vague or general reasoning.
Limited connection to comparison. |
Recommendation is unsupported or irrelevant.
Little to no justification provided.
|
Question 3 (10 Marks)
Research and identify one real-life example of a rights issue of shares announced and executed from 1 January 2021 to 30 June 2025.
Notes:
- DO NOT choose rights issues by Singapore Airlines Limited in year 2021 due to its complexity.
- DO NOT choose rights issues by real estate investment trusts (REIT) such as Ascendas REIT or other business trusts such as Asian Pay Television Trust.
Answer the following questions regarding the rights issue:
Required:
(a) Attach as Appendix A your research findings showing the relevant portion to support your answers in your submission.
(1 mark)
(b) With regards to the rights issue, state the following:
(i) Name of the company offering the rights issue
(ii) Year of the rights issue
(iii) Rights entitlement
(iv) Rights issue price
(3 marks)
How much funds did the company plan to raise from the rights issue? (1 mark)
Assume that you hold 25,000 shares in the company before the rights issue. You intend to purchase all your entitled new shares under this rights exercise, but you currently have only S$2,A00 (Refer to Note below) in available funds.
Note:
Amount of available funds is S$2,A00. (A is the 7th digit of your Student ID).
E.g. if your Student ID is 2012345B, the amount of available funds that you have is S$2,500.
Determine the total number of shares that you own after the rights issue. Explain your answer and support with appropriate calculations.
(Round off the number of new shares to the nearest whole number, where applicable.)
(5 marks)
Topic 2: Financial Statements
Question 4 (24 Marks)
Your tutor would have informed you the name of the listed company allocated to you for this assignment. Please approach your tutor if you were not notified yet.
Access your allocated listed company’s Annual Report for the year 2024 from the online website of Singapore Exchange (http://www.sgx.com) and answer the questions below.
Please refer to page 11 for instructions to access an Annual Report from Singapore Exchange website.
Notes:
For figures required, please use the data in the “Group” column for the current year (i.e. 2024) only.
When stating the currency amount, please indicate the currency and symbol (e.g. US$ or S$). The amount should be also stated in full (e.g. US$1,000,000 should not be stated as US$1,000).
Required:
(a) Attach as Appendix B the relevant pages of the Annual Report to support your answers in your submission. (1 mark)
(b) State the following:
(i) Name of the company
(ii) Financial year end of the Annual Report (e.g. 31 January 2024)
(iii) Sales (or Turnover or Revenue)
(iv) Gross Profit (Loss) – to indicate profit or loss
(v) (Loss) Profit before tax – to indicate profit or loss
(ii) (Loss) Profit after tax – to indicate profit or loss (4 marks)
(c) Explain how the group’s operating expenses are classified. (2 marks)
(d) Fill in the numbers for the group’s Accounting Equation.
For example: Assets = Owner’s Equities + Liabilities
S$188,365,000 = S$21,450,000 + S$166,915,000 (2 marks)
(e) Identify and briefly explain two non-current liabilities of the group. This information can also be retrieved under “Notes to the Financial Statements” in the annual report. (3 marks)
Please turn to the next page for Q4(f) to Q4(h).
(f) In the topic “Financial Statements”, we learnt about the Profit or Loss Statement and Balance Sheet of a Sole Proprietorship. Referring to the listed company assigned to you for this question, identify and briefly explain one difference in the Profit or Loss Statement and one difference in the Balance Sheet between the listed company and a Sole Proprietorship. (4 marks)
Q4(g) and Q4(h) are not related to Q4(a) to Q4(f).
(g) Describe a transaction that occurred in your business organisation (stated for Question 1) which affected the following accounts:
(i) 1 liability account and 2 asset accounts
(ii) 1 asset account and 1 expense account
(3 marks)
(h) Collect two different source documents dated 1 September 2025 or later from two different business organisations, e.g. supermarket receipt, fast food receipt, telco bill, etc.
(i) Insert a scanned copy or image of each source document into your report.
(ii) From the perspective of the business organisation that issued the documents, identify the accounts involved in each transaction (e.g. debtors, creditors, sales, etc) and state whether the balance of each of account increases or decreases as a result of the transaction.