CHIEF EXAMINER S REPORT FOR MARCH 2014 ECONOMICS

Transcription

1 CHIEF EXAMINER S REPORT FOR MARCH 2014 ECONOMICS GENERAL PERFORMANCE The performance was just average. Many candidates did not do well in the MCQ and the SAQ. Under the microeconomics section questions 2 and 3 were badly answered. Under the macroeconomics section all the question were poorly answered. There were no signs of copying. Candidates demonstrated lack of adequate preparation for the examination. This was evident because of their inability to explain points raised to answer questions. WEAKNESSES OF CANDIDATES The main weaknesses demonstrated were in answering questions 2, 3, 4, 5 and 6. Candidates should be encouraged to use the ICAG Manual on Economics. STRENGTHS OF CANDIDATES There were no notable strengths in the performance of candidates that cut across. QUESTION BY QUESTION ANALYSIS OF PERFORMANCE Question 1 Section (a) of question 1 was poorly answered by candidates. The question did not request for diagrams but the marking scheme provided diagrams. Section (b) was not answered well. This section requested for diagrams but candidates could not draw and explain the diagrams. Question 2 Question 2 (a) was not well answered. Candidates could not describe an indifference curve. The marking scheme provided a diagram as part of the answer but the question did not request it. Question 2 (b) was well answered. Question 2 (c) was poorly answered. Candidates could not state and explain the equilibrium of the consumer under the indifference curve approach. Question 3 Question 3 (a) was not well answered by all candidates. Candidates lacked knowledge of what a production function is.

2 Question 3 (b) was badly answered. Candidates could not draw and explain the relationship between total, marginal and average product curves. Question 4 The preamble to this question was not important. The question should have been: (a) Explain the term monetary policy (b) Identify any four tools available to the Central Bank of your country in the conduct of its monetary policy. Question 4 (a) was not answered well. Candidates could not explain the term monetary policy. For 4 (b), the question says they should identify four tools of monetary policy. The question should have been explain four tools of monetary policy. Question 5 Question 5 section (a) candidates could not determine the Aggregate demand hence could not determine the equilibrium national income and the value of net exports of the economy. Question 6 Question 6 could be better without the preamble. This was not well answered by the candidates. Majority of candidates who answered this section wrote on tools for international trade restriction instead of reasons for international trade restrictions.

3 CHIEF EXAMINER S REPORT FOR MARCH 2014 PRINCIPLES AND PRACTICE OF FINANCIAL ACCOUNTING GENERAL PERFORMANCE The general performance of the candidates was average. The performance of the candidates showed that they were well prepared for the examination. The performance of candidates compared to the previous sittings was not encouraging. Few candidates exhibited some sense of preparedness while others were not well prepared. There were no signs of copying in any centre. The marking scheme was good. WEAKNESSES OF CANDIDATES The most prevalent reasons for some candidates obtaining low marks remains as in previous sittings i.e. studying only a few selected topics, not reading the question carefully enough, or a lack of structure in the approach to answering questions. QUESTION BY QUESTION ANALYSIS OF PERFORMANCE Question 1 The approach to this question was bad. The highest score was 5 and the lowest was 2. The question asked the candidates to prepare an extended trial balance to include the original trial balance, adjustments and adjusted trial balance. Thirteen candidates attempted this question and the result showed that all of them did not understand what they were supposed to do. Under normal circumstances candidates should have scored full marks in this question. Lecturers preparing candidates should as a matter of urgency take candidates through the preparation of extended trial balance because of their inability to understand the concept of extended trial balance. Question 2 Under this question candidates were asked to define cost, residual value of an asset and depreciation in IAS 16 on Property, Plant and Equipment. The B part asked candidates to calculate the cost of a generator to be included in the non-current asset schedule of the financial position and the depreciation charge to be included in the statement of profit or loss. Four (4) candidates attempted this question with the highest mark obtained being 6 and the lowest was 2 out of The first part was averagely answered. In the second part all the four (4) candidates were not able to compute the cost of the generator as demanded by the question. If candidates were to read IAS 16 during their preparation for the examination they would have had it easy. Lecturers should ensure that students are taken through

4 the relevant IAS in the syllabus. They must also explain to candidates what constitute the cost of a non-current asset. Question 2 The performance in this question was bad. The question asked candidates to prepare a revaluation account, cash account, capital account and a statement of financial position of a partnership on admission of a new partner. Sixteen (16) candidates attempted this question with the highest mark being 8 and the lowest was 1. All the candidates were not able to account for Goodwill correctly. The question also stated that all receivables settled their accounts and the payables were settled. However, candidates brought these figures into the statement of the financial position a clear indication that they did not understand issues involved. The cash account was not debited with the receivable and credited with the payables. Question 4 The approach to this question was bad. This question asked candidates to state and explain briefly any five (5) limitations of ratio analysis. Only two (2) candidates attempted this question with highest mark of 2 and a lowest value of 0. Question 5 This question was on Farm Account and candidates were asked to prepare a statement to show the profit earned by the enterprise. Eighteen (18)0147 candidates attempted this question with the highest mark of 12.5 and lowest of 8. Therefore all the candidates who attempted the question obtained very good marks. Question 6 The approach to this question was good. Nineteen (19) candidates attempted this question with the highest mark being 11 and lowest of 4. A few of the candidates could not compute the subscription to be taken to income and expenditure account. The performance of candidates in the multiple choice and short questions was poor. It appears most candidates were not conversant with the principles and concepts in accounting. In the multiple choice question, the highest score was 13 and lowest was 6 out of 30. In the short answer question, the highest mark obtained was 10 and the lowest was 0 out of 20.

5 CHIEF EXAMINER S REPORT FOR MARCH 2014 COMMUNICATION SKILLS GENERAL PERFORMANCE The performance of candidates was generally not good compared with the previous examinations and the poor performance spread across the various centres. The pass rate was 61%. No evidence can be led to show that there was any copying in the examinations at any given centre. QUESTION BY QUESTION ANALYSIS OF PERFORMANCE Section A Part I Since this was a compulsory question, all candidates attempted it with 85% of them scoring good marks. Section A Part II This was also compulsory and so all candidates attempted and almost all of them did poorly here. Section B Question 1 All candidates answered this question since it was a compulsory one with most of them scoring low marks. Question 2 A lot of candidates attempted this question and did badly. Question 3 Most candidates refrained from answering this question and those who did scored very low marks. Question 4 Only a few candidates attempted this question and performed poorly. Question 5 The few candidates who answered this question did badly. The questions were neither too loaded nor were the marks allocated over-generous. The amount of work required of the candidates was commensurate with the time and marks allotted.

6 CHIEF EXAMINER S REPORT FOR MARCH 2014 INFORMATION TECHNOLOGY GENERAL PERFORMANCE The general performance of the candidates was slightly better that that of the last diet 88%. The performance was good. It was evident that candidates did not have a proper grasp of some of the topics, obviously attributable to inadequate preparation. No signs of copying was observed. WEAKNESSES OF CANDIDATES There were widespread weaknesses demonstrated by the candidates in answering some of the questions. The main reasons that could be deduced were: Very short period of preparation. Most candidates allow themselves only a few contact hours of study towards examination. Lack of or no apparent practical skills in the field of Information Technology in the workplace. Poor communication skills. Inexperience at handling typical examination-type question. QUESTION BY QUESTION ANALYSIS OF PERFORMANCE Section A - Part I (Multiple Choice Questions) The instruction for this part needs correction to replace the word alphabet with letter. All the thirty (30) questions were quite general and were within the scope of the syllabus coverage. The general performance in this section was fairly good. Part II (Short Answer Questions) The twenty (20) questions in this section were seemingly within the capability of the candidates but the general performance was below expectation. Section B Question 1 This was a good and fair question on the advantages of using computers and features of microcomputers and was answered well by many candidates.

7 Question 2 This question on computer files also seemed popular and was answered well by the candidates who attempted it. Question 3 This question on Database was not too popular and was only fairly well answered. Question 4 This was a question on electronic mail and was very poorly answered by the majority of candidates who attempted it. 4 (b) on network operating systems was also not very popular with the candidates. Most of them could not give the examples which would have included Netware, LINUX, UNIX, Windows NT and Lantastic. Question 5 This was a very popular question on systems investigation and was largely the best answered question on the paper. Question 6 The first part was on Office Automation and was not well answered by the candidates who attempted it. The second part on why backups are needed for an information system was well answered by the candidates. CONCLUSION The trend over the period of time this examination has been running has been one of poor performance on the MCQ and SAQ. Consequently, candidates have tended to score marks just around the pass-mark, having compensated for the poor performance in Parts I and II with average performance in section B. The observed weaknesses may be remedied by the candidates themselves making conscious efforts to prepare adequately before registering to write the examination.

8 CHIEF EXAMINER S REPORT FOR MARCH 2014 QUANTITATIVE ANALYSIS GENERAL PERFORMANCE The general performance of the candidates was just satisfactory and the general knowledge of the questions fell below expectation. There were 70% passes. Performance was only satisfactory. It was evident that candidates did not have proper grasp of the topics, obviously attributable to inadequate preparation and lack of useful study material. No signs of copying were observed. WEAKNESSES OF CANDIDATES There were widespread weaknesses demonstrated by the candidates in answering the questions. The main reasons that could be deduced were: Very short period of preparation. Most candidates allow themselves only a few contact hours of study towards examination. Poor communication skills. Inexperience at handling typical examination-type question. Possible lack of adequate study material. QUESTION BY QUESTION ANALYSIS OF PERFORMANCE Section A - Part I (Multiple Choice Questions) All the thirty (30) questions were quite general and were within the scope of the syllabus coverage. Performance was only satisfactory. Part II (Short Answer Questions) The twenty (20) questions in this section were on the average expected to be within the ability of the candidates. The general performance was very bad. Section B Question 1 This question on Probability theory (statistics) was based directly on the syllabus but the general performance was below average. Question 2 This question on regression analysis was well within the syllabus and reach of candidates but performance was only fair.

9 Question 3 This question on business mathematics was not popular at all with most of the candidates. Question 4 This was another question on business mathematics which was not well answered. Question 5 This was on Operations Research (network analysis) was quite straightforward but poorly answered by most of the candidates. Question 6 This question on Transportation was fairly poorly tackled by the candidates who attempted it. CONCLUSION The general performance on the MCQ and SAQ has been consistently very poor. This coupled with the mediocre performance in section B meant that several candidates could not afford to secure good marks. The observed weaknesses may be remedied by the candidates preparing adequately before registering to write the examination.

10 CHIEF EXAMINER S REPORT FOR MARCH 2014 PUBLIC SECTOR ACCOUNTING GENERAL PERFORMANCE The general performance was impressive as 14 out of 18 students passed, constituting about 78%. However, only 3 out of the 14 students that passed cross the 50% mark. Therefore, the quality of the candidate cannot be assumed. QUESTION BY QUESTION ANALYSIS OF PERFORMANCE Multiple Choice Questions All candidates performed well in the MCQ with the highest score of 22 marks. The standard of question was appropriate and comprehensive. Short Answer Questions General performance was encouraging as most candidates crossed the 50% mark. Question quality is confirmed. Question 1 Only few candidates attempted it and they all performed poorly. Knowledge of candidate on procurement was very inadequate. Question 2 Well attempted by most candidates. Standard of question was good. Question 3 It was very familiar topic among the candidates. Performance was good. Question 4 Candidates were unfamiliar with the topic. The question was therefore poorly attempted. Question 5 It was a well attempted question but unfortunately the most students could not determine the span of a quarter of a year.

11 RECOMMENDATION Localizing the question is a commendable response to country differences in public financial management. Such effort should be sustained. Students required intensive tuition to be able to grasp the knowledge and understanding required for the professional progression. The Institute can set the pace in providing tuition to these students.

12 CHIEF EXAMINER S REPORT FOR MARCH 2014 PRINCIPLES OF AUDITING GENERAL PERFORMANCE Students who sat for the examination are continuously decreasing. Effort should be made to increase students enrolments. Performance in the multiple choice questions and short questions was very encouraging as opposed to section B. Those students who passed the paper did well in the multiple choice questions and short answer questions. QUESTION BY QUESTION ANALYSIS OF PERFORMANCE Multiple Choice Questions The performance under this section of the paper was above average pass rate. The students performance indicates their extensive coverage of the syllabus. Short Answer Questions The performance under this section recorded an improvement. This implied their extensive coverage of the syllabus. Question 1 This question was poorly answered by all the candidates. Few students were able to obtain the pass mark. Question 2 Section (a) was answered well whilst (b) on type of qualification was poorly answered. Question 3 Few students attempted this question. The performance was poor. Question 4 Question 4 was not well answered. Few students who answered obtained poor marks. Question 5 This question was poorly participated and poorly answered.

13 Question 6 The candidates scores recorded an average performance. RECOMMENDATION The programme should be advertised and promoted in the polytechnics to enhance the improvement in students intake. Pre-revision classes should be conducted as a means of increasing the passing rate in all the examination centres. Students should be encouraged to read extensively to cover all the areas in the syllabus.

14 CHIEF EXAMINER S REPORT FOR MARCH 2014 COST ACCOUNTING GENERAL PERFORMANCE The general performance of the candidates was above average. The general performance showed that most of the candidates were fully prepared for the examinations and this reflected in their performance. WEAKNESSES OF CANDIDATES Some of the candidates appeared not to have prepared for the examination and showed little or no understanding of the costing principles. The orderly and logical presentation of answers was below average. Only a few candidates failed to record the questions answered at the bottom of the cover of their answers books, record the index numbers and number the pages in the answer books. Most of the candidates performed poorly in the Short Answer and B sections of the paper. The selection of questions by candidates in this section was quite poor. A few candidates selected questions which were quite involving and left the simple and straight forward ones. A few candidates attempted only three out of the four questions in section B. A candidate (index number ) wrote at the top of most of the pages in his answer book pleading with the examiner to sympathize with him and pass him since this was the 5 th time he was writing the paper. STRENGTHS OF CANDIDATES Candidates who prepared and were ready for the examinations scored more than 40% of the total marks. Candidates with high understanding of costing principles and effectively completed the syllabus, scored high marks especially in the Multiple Choice and Short Answer questions. QUESTION BY QUESTION ANALYSIS OF PERFORMANCE Multiple Choice Questions The performance was above average as most of the candidates scored more than 40% of the total marks. This confirmed that candidates covered the syllabus and were ready for the examinations. Short Answer Questions The performance was below average as most of the candidates scored less than 50% of the total marks. This confirmed that candidates were not fully ready for the examination and their poor understanding of the principles in Cost Accounting.

15 Question 1 Almost all the candidates attempted this question. The approach to the question was above average. (a) Candidates could not explain Inventory Control, let alone state the advantages. (b) The approach to the (b) part of the question was good as a few candidates scored the maximum marks. Question 2 Only a few candidates attempted this question and those who attempted it messed up. They could not prepare the batch cost sheet let alone state the factors that should be present before a job costing system can operate effectively. Question 3 This could have been a bonus question, yet most of the candidates who attempted this question could not prepare the Budgeted Profit and loss statement using the Marginal and Absorption costing principles. Most candidates could value or failed to value the closing stock in each case. Question 4 This could have been another bonus question, yet most of the candidates did not attempt it. The few who attempted it showed that they lacked the knowledge in preparing cash budget. Question 5 Only a few candidates attempted this question. The overall performance was below average, since most of them scored less than 40% of the total mark. The understanding of the question was poor as the candidates treated the question as coding of non-current assets. Question 6 Only a few candidates attempted this question though this was another straight forward question. The approach was quite poor as candidates showed little or no understanding of the computation of variances. RECOMMENDATION Candidates are advised not to take the exams for granted. They should ensure that they take steps to complete the syllabus and worked through series of questions before the exams. They should read and fully understand the questions before attempting it. They are advised to attempt all the four questions required in section B. They should know that it is not the aim of any examiner to fail candidates.

16 CHIEF EXAMINER S REPORT FOR MARCH 2014 MANAGEMENT GENERAL PERFORMANCE The management paper was of standard nature and there were no typing or other errors detected. The examiners in setting the questions did not leave any room for any ambiguities to be created. No individual question or sub-question could be said to be sub-standard. Marks allocated to questions followed the weighting in the syllabus and were fairly allocated and clearly stated. The questions were also evenly spread over the topics in the syllabus. The performance of candidates was generally good with a 74% pass rate. It appears some candidates either did not take their time to prepare well or did not read certain portions of the syllabus. Some candidates demonstrated lack of understanding of some questions and gave the wrong answers. QUESTION BY QUESTION ANALYSIS OF PERFORMANCE Section A - Part I (Multiple Choice Questions) Since this was a compulsory question, all candidates attempted it with about 67% of them scoring high marks. Part II (Short Answer Questions) This was also compulsory and so all candidates attempted although many of them did poorly here. Question 1 Most candidates answered this question with many of them scoring high marks. Question 2 Most candidates avoided this question and many of those who attempted it scored very low marks. Question 3 Most candidates attempted this question and generally scored good marks.

17 Question 4 Although many candidates answered this question, most of them performed very badly. Indeed, a lot of them either discussed forms of business units or advantages associated with them instead of discussing factors to consider in choosing a form of business unit. Question 5 Many candidates attempted this question with more than half of them scoring very good marks. Question 6 Most candidates refrained from attempting this question and those who answered it did very badly. The questions were neither too loaded nor were the marks allocated over generous. The amount of work required of the candidates was commensurate with the time and marks allotted.

18 CHIEF EXAMINER S REPORT FOR MARCH 2014 BASIC ACCOUNTING PROCESSES AND SYSTEMS GENERAL PERFORMANCE The general performance of the candidates was average. The performance of the candidates showed that some of them were not prepared for the examination. Overall performance was average. The questions were clear, well typed and the instructions were also clearly stated. There were no ambiguities in the paper. The marks allocations followed the weight as stated in the syllabus and were fairly allocated to each sub-question and stated clearly. The questions were evenly spread over the topics in the syllabus. There were no signs of copying and the marking scheme was good. WEAKNESSES OF CANDIDATES The level of preparedness of candidates was average. STRENGTHS OF CANDIDATES Some of the candidates exhibited a good sense of preparedness. The strength of the candidates was demonstrated in the preparation of control accounts. Candidates generally scored better in question five (5) than in other questions. QUESTION BY QUESTION ANALYSIS OF PERFORMANCE Question 1 The approach to this question was poor. The question asked candidates to state four (4) advantages derived from the use of payroll application packages. The B part required candidates to prepare journal entries of payroll records of a company. Three (3) candidates attempted this question and none of them obtained the required pass mark. The candidates had no understanding of what was involved. The highest mark scored was 2 while the lowest was 0. Question 2 Under this question, candidates were asked to prepare receivables and payable control accounts. The performance of candidates in this question was quite good. Seven (7) candidates attempted this question and the highest mark was nine (9) and the lowest was five (5). The level of understanding of candidates was good. The major problem of candidates was a statement which stated that there were no credit balances in the receivable account except those outstanding at the beginning of the period. It was stated at the beginning of the question that there was a credit balance of 114 cedis in the receivable ledger. Candidates were not able to bring this balance down.

19 Question 3 This question asked candidates to explain a software package, list four (4) disadvantages of software application packages and state three (3) factors to consider when deciding on which software package to use or buy. Four (4) candidates attempted this question and the highest mark was 8 and the lowest 3. The answers provided clearly showed that some of them did not know what software packages are. Question 4 This question was on depreciation and candidates were required to prepare a motor vehicle account, provision for depreciation account, motor vehicle disposal account and income statement and statement of financial position extracts. Four (4) candidates answered this question and performance was poor. The highest score was 5 and the lowest was 1. The answers provided showed that the candidates did not understand the concepts of depreciation. Question 5 This question asked candidates to prepare income statement and a statement of financial position of a sole trader. The approach to this question was good. The highest score was 9 and the lowest was 4. The greatest problem of candidates was the fact that most of them picked the additional figures under trial balance with three zero which is already stated at the top with the currency thereby distorting the figures. For example, the question stated that insurance of Le 2,800,000 was paid in advance. In accounting for this most of them took the figure in the trial balance of 7,840 and subtracted 2,800,000 from it. Question 6 The approach to this question was good. Candidates were asked to write up an adjusted cash book and prepare a bank reconciliation statement. Eight (8) candidates attempted this question. The highest mark obtained was 10 and the lowest was 2. One (1) of the items provided in the question stated that a payment of N105 cheque was treated as a receipt in the cash book. Instead of candidates doubling this figure and crediting the cash book thereby cancelling the wrong entry and making the correct entry, most of them used the figure N105. CONCLUSION The performance in the multiple choice and the short answer questions was average and it suggested that lecturers should teach students to understand the principles and theory of accounting very well.

20 CHIEF EXAMINER S REPORT FOR MARCH 2014 BUSINESS LAW GENERAL PERFORMANCE The performance was below average with exception of about four (4) scripts out of thirteen (13) scripts. The candidates were not prepared for the exams. QUESTION BY QUESTION ANALYSIS OF PERFORMANCE Question 1 (a) At least most of the candidates were able to mention the advantages of ADR but they were not able to elicit the disadvantages. Furthermore, in some isolated cases, some candidates equated ADR to Arbitration which is sometimes quite expensive even more than normal litigation in the courts. (b) Candidates though had an idea that this was a case of negligent misstatement, they were not able to argue logically that there was a contractual relationship between Aina and Ojo and that Aina owed Ojo a duty of care. That duty of care was breached by Aina therefore Aina is liable for the resultant damage. (c) This part was fairly well answered. Question 2 (a) The issue involved in this case is past consideration because the promise to pay was made after Joseph had completed the assignment. However, from the scenario, it could be informed that when Bartholomew engaged Joseph to arrange for the patent and also arrange licensing agreements with interested persons he did not expect those services to be free of charge. Thus, the offer of 15% could be enforceable or Joseph could claim a quantine merit. As mentioned earlier, most of the candidates were not able to argue their points logically with the result that out of about three answers they were only able to mention one. (b) This was not properly handled. (c) This was also not well answered due to the fact that candidates did appreciate what amounts to restraint of trade. Question 3 (a) Most of the candidates could not explain this maxim and as mentioned earlier, whenever possible the use of such maxims should be explained in a language the candidates would understand to enable them answer the question.

21 (ii) With the agency by necessity most of the candidates were able to bring out the essential ingredients. (iii) The memo date rule was so common so the candidates who attempted that question were able to explain themselves though not in a logical manner. (b) The candidates could not explain themselves on the right of the hiver (the buyer) to terminate the high purchase agreement. Question 4 (a) This question deals with the issue of the undisclosed principal. In contract, it is only a party to a contract who can take benefit under the contract. The principal on whose behalf an agent enters into a contract and who wants take advantage of the contract should have been in existence at the time of the contract. He should also have capacity at the time of the contract. The agent must have contracted in his capacity as an agent and not as a principal. In other words, the third party should have had knowledge that even though the principal has not been disclosed, the agent was acting on behalf of somebody. The ratification has to be done within a reasonable time otherwise the agent becomes personally liable. (b) This sub-question was a case study of the (a) but as mentioned earlier, some candidates were not able to apply the principles to given situations. There is the need therefore for candidates to learn to answer questions on case studies. (c) Under insurance law, an insured is expected to disclose all material facts otherwise the insurer can repudiate liability. However, the exceptions mentioned do not affect the insurance contract. Unfortunately, candidates were not able to identify these exceptions. Question 5 (a) This question was a bit misleading. This is so because in Ghana there is only one partnership. The partnership agreement sets out the rights and liabilities of the members of the partnership. The partnership may be formed for a particular purpose and once the purpose is achieved, the partnership ends. (b) The issue raised in this question was whether by visiting Elo s farm occasionally, Abu was part of the farm. There should be clear evidence that the money borrowed was Abu s contribution to the partnership otherwise Elo should repay the loan. (c) The question relates to the role the Registrar General s Office place in the registration and supervision of companies registered under the companies code.

22 Question 6 This question except in few instances was not fully appreciated. Candidates may have to the Bills of Exchange Act or similar legislation to be able to define the topics listed but as usual because most candidates do not take time to read. They made a mess of the question.