Transcription of Management Accounting
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Fundamentals Level Knowledge ModuleTime allowed: 2 hoursThis paper is divided into two sections:Section A ALL 35 questions are compulsory and MUST be attemptedSection B ALL THREE questions are compulsory and MUST be attemptedFormulae Sheet, Present Value and Annuity Tables are on pages 16, 17 and NOT open this paper until instructed by the question paper must not be removed from the examination F2 Management AccountingSpecimen Exam applicable from June 2014 The Association of Chartered Certified AccountantsSection A ALL 35 questions are compulsory and MUST be attemptedPlease use the space provided on the inside cover of the Candidate Answer Booklet to indicate your chosen answer toeach multiple choice question is worth 2 manufacturing company benchmarks the performance of its accounts receivable department with that of a leadingcredit card type of benchmarking is the company using?AInternal benchmarkingBCompetitive benchmarkingCFunctional benchmarkingDStrategic benchmarking2 Which of the following BEST describes target costing?
A Setting a cost by subtracting a desired profit margin from a competitive market price B Setting a price by adding a desired profit margin to a production cost C Setting a cost for the use in the calculation of variances D Setting a selling price for the company to aim for in the long run 3 Information relating to two processes (F and G) was ...
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