Acca paper F1 fia diploma in Accounting and Business Accountant in Business (AB/fab) exam kit

Required: 
Identify which of the following statements relate to the information that would 
typically be produced by A (strategic information systems) or B (operational 
information systems). 
(i) Long-term 
focus 
(ii) Highly 
detailed 
(iii) Produced 
frequently 
(iv) Mainly an internal focus 
(0.5 marks each, total = 2 marks) 
(b) PPR’s Information Manager (IM) has identified four major types of information 
system that the company may wish to adopt: 
A Management 
information 
system 
B Expert 
system 
C Transaction 
processing 
system 
D 
Decision support system 
The following sentences from PPR’s IM report contain gaps. 
‘PPR has a till system which records each sale made through the day. At the end of 
the day, this _1_ summarises all the information on sales for the day and produces a 
report .’ 
Required: 
(i) 
Select the term that appropriately fills gap 1 above; i.e. select A, B, C or D. 
 
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PRACTICE MULTI-TASK QUESTIONS : 
S E CTI ON 2
K APLA N PUBLISH ING 
93 
‘PPR’s _2_ enables us to quickly calculate our tax bill for the year. We have complex 
rules we need to follow with this calculation and they are all pre-programmed into 
this system.’ 
Required: 
(ii) 
Select the term that appropriately fills gap 2 above; i.e. select A, B, C or D. 
 
 
(1 mark each = 2 marks in total) 
(Total: 4 marks) 
19
 
(a) 
Y Co has recently prepared its most recent set of financial statements. A newly 
appointed finance junior has pointed out a number of issues with the financial 
statements, which she has argued indicate that the statements are not true and fair. 
These issues include: 
A 
Inventory was not valued using standard generally accepted practice. 
B 
The financial statements used terminology that the junior felt would not be 
understood by the general public. 
C 
Information was not sufficiently detailed – liabilities were not split out into 
their constituent elements. 
D 
Y’s receivables balance was slightly misstated, though Y acknowledged it would 
not affect the overall view of Y’s performance by users. 
E 
The layout of Y’s cash flow statement was not in accordance with the relevant 
accounting standard.
F 
The financial statements covered 12 months – the previous set of financial 
statements covered 15 months. 
G 
The cash balance was significantly misstated, meaning that it gave a misleading 
view of the financial position of the company.