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1 PREMIUM EDUCATION HUB (Walking the journey with you) EXAMINATION ANALYSIS VALID FOR MAY 2018 ICA-GH EXAMINATION DIET LEVEL TWO BY: EXAMINATION COMMITTEE AT PREMIUM EDUCATION HUB FACEBOOK PAGE: WEBSITE: FACEBOOK FORUM: PREMIUM PROFESSIONAL HUB PREMIUM EDUCATION HUB (0) / +233 (0)

2 PREFACE Haven t heard the numerous complains of candidates and students preparing for the Institute of Chartered Accountants Ghana s(ica-gh) examination and the pass rate as well as the general performance of candidates in the Chief Examiner s report, Premium Education Hub, an online education and business consultancy organisation decided to find solutions permanently to solve this problem. With consultation with students and other Professionals in the professional examination field, we came to a conclusion that if an Examination Analysis document is prepared and published to highlight the various areas that the Examiner has tested on and the topical areas that candidates can focus on, then that can enhance their passing rate. It is for this purpose that the Examination Committee of Premium Education Hub has prepared this analysis to be sent to all candidates who may be interested for free. We therefore expect that, this document can solve the problem and help all candidates to excel in their examination. ACKNOWLEDGEMENT We want to express our deepest gratitude to God for bringing this idea and to the Committee for the sacrifices and sleepless nights working on this analysis. We thank everyone who helped anyway in this publication. To all our students and prospective students, we wish you all the best in your examinations as well as your career life. For any enquiry or assistance, please call Mr. Nhyira on +233 (0) or or send as an through premiumonlinehub@gmail.com. PREMIUM EDUCATION HUB (0) / +233 (0)

3 TABLE OF CONTENTS Subject Page 2.1 Financial Reporting Management Accounting Audit and Assurance Financial Management Public Sector Accounting and Finance Corporate Strategy, Ethics and Governance 18 Disclaimer 22 PREMIUM EDUCATION HUB (0) / +233 (0)

4 2.1: FINANCIAL REPORTING The Financial Reporting syllabus is divided into six sections. As such, per the information available to the Examination Committee based on the November 2015, May 2016, November 2016, May 2017 and November 2017 examination diet, the Committee has prepared the following sectional analysis of how the examiner has been setting the questions. AIM To develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements. The Examination Committee based on the above past questions, recommend candidates to focus on the following: A. Conceptual and regulatory framework of financial reporting The Examiner has been consistent of setting a question from this section on each examination diet. As such, candidates are expected to answer some five (5) marks question from this section. To be specific, the Examiner may set questions on Qualitative Characteristics of Timeliness, Verification, and the legal versus the commercial views of accounting and Recognition and measurement, among others. As such, we advise candidates to thoroughly study everything in this section. B. Financial reporting standards This section of the paper is quite elaborated. The Examiner from the analysis has set questions on a lot of the accounting standards. However, the Examiner has not ask questions on accounting for inventory, Construction contract, Intangible assets, impairment of assets as well as taxation or Lease Accounting. We expect all candidates to understand each of the above and other IASs & IFRSs and be ready to answer questions in these areas and Regulatory requirements relating to the preparation of financial statements (e.g. Companies Act requirements, Stock Exchange Requirements) NOTE: This section of the syllabus is fundamental to the subject of Financial Reporting, as such we advise candidates to understand the recognition, measurement and disclosure requirements of all the IFRSs & IASs. PREMIUM EDUCATION HUB (0) / +233 (0)

5 C. Preparation of financial statements The Examiner again has been consistent and candidates are expected to solve a twenty (20) marks question from this section. Apart from the Statement of Valued Added which the Examiner has not asked any questions on, we expect the Examiner to ask questions on either cash flow statement or preparation of statement of profit or loss and balance sheet. As such, we advise all candidates to solve more questions on these topical areas and be strong in the ability to answer and treat all accounting transactions leading to the preparation of Financial Statements. NOTE: This is another key area of the Financial Reporting syllabus and students must understand the IASs & IFRSs better to be able to prepare the Single Entity final accounts. D. Specialised Transactions The Examiner has been consistent in asking questions in the last three sittings from this section. As per our analysis, the Examiner may wish to repeat either branch accounting or partnership or bring in a new question from hire purchase accounting. We advise all candidates to understand the various concepts under this section. NOTE: To be specific, we expect the Examiner to set questions on branch accounting or hire purchase accounting for this Examination Diet. E. Consolidated financial statement This section of the syllabus has also been consistent. As such, we expect the Examiner to set a twenty (20) marks question from this section especially on the Preparation of Consolidated Financial Statements. Nonetheless, the other Consolidated Financial Statements such as Consolidated Financial Position, Consolidated Statement of changes in equity and Consolidated Statement of profit or loss involving one subsidiary may be examined. We advise all candidates to solve much questions on these areas to successfully pass the exams. NOTE: The Examiner in this sitting may want to test candidates understanding on how to prepare the Consolidated Statement of Financial Position taking into consideration associates and/or joint venture. PREMIUM EDUCATION HUB (0) / +233 (0)

6 F. Financial statement interpretation The Examiner has been consistent over the last five examination diets in setting questions in this section of the syllabus. With the exception of the preparation of common-size Financial Statements which has not yet been examined (which we expect the Examiner to set a question on), it is expected that candidates are prepared strongly by knowing the formulae and the interpretations of each of the ratios. NOTE: It is not enough to calculate financial ratios, the key aspect of ratio analysis is the interpretation. We strongly advice students to study how to interpret ratios and write memorandum to management. General advice for this paper: The Financial Reporting paper is not a mysterious paper as some candidates have expressed in the past due to the lack of understanding of the basic concepts (Accounting Standards IASs & IFRSs) in the paper. We recommend that all candidates sitting for this paper take this analysis seriously and solve more questions as much as possible to be comfortable with the various concepts. PREMIUM EDUCATION HUB (0) / +233 (0)

7 2.2 MANAGEMENT ACCOUNTING The Management Accounting syllabus is divided into eight sections. As such, per the information available to the Examination Committee based on the November 2015, May 2016, November 2016, May 2017 and November 2017 examination diet, the Committee has prepared the following sectional analysis of how the examiner has been setting the questions. AIM To develop knowledge and skills in the application of management accounting techniques to quantitative and qualitative information for planning, decision-making, performance evaluation, and control. The Examination Committee based on the above past questions, recommend candidates to focus on the following: A. The nature, purpose and sources of management information The Examiner has not really done justice to this section of the syllabus as per our analysis. However, candidates are expected to answer some questions on cost classification and other introductory discussions of the syllabus. It must however be noted that the Examiner has been consistent in the last three sittings as per our analysis in asking questions from this section of the syllabus. B. Cost accounting techniques The Examiner has been consistent in asking a question in each examination sitting from this section. As per our analysis, we saw the Examiner setting question in the last two Examination Diet (May 2017 and November 2017) on Absorption costing and Marginal costing. For this Examination Diet, the Examiner is likely to ask some questions either on Service costing, Batch costing or Accounting for Overheads or repeat Absorption and Marginal costing As such, candidates are expected to prepare thoroughly in these areas and solve some past questions. C. Specialised cost and management accounting techniques The Examiner has not really asked questions from this section based on our analysis. Apart from November 2016 where he asked candidates on the benefits of Life-cycle costing and May 2017 where questions were asked on Target costing and life cycle costing and also November 2017 where question were ask question on Activity based costing, the Examiner has been on and off. Due to this, we expect the Examiner to set say a 10 marks question on Activity Based costing or Throughput accounting or some calculations on Life cycle or Target costing. PREMIUM EDUCATION HUB (0) / +233 (0)

8 Candidates are therefore encouraged to thoroughly understand these topics. D. Decision making techniques The Examiner has exhausted almost every topic in this section of the syllabus over the last three sittings. However, he has been consistent in asking questions from the section. As such candidates are encouraged to thoroughly solve the past questions and understand the concepts behind each of these short-term decision-making techniques. NOTE: For this examination sitting, we expect the Examiner to ask questions on Make-orbuy/ Outsourcing; Split of further process, special order acceptance decisions, Limiting factors or relevant costing. E. Budgeting It must be noted that this section of the syllabus is fundamental to the work of the Management Accountant and as such, the Examiner will not stopped asking questions in this area of the syllabus. To be specific, we expect the Examiner to set some questions on the stages in Budget process, Types of Budgets, preparation of Functional and Master Budget and Behavioral aspect of budgeting as well as some theory questions. Candidates are expected to build a thorough understanding on these. F. Standard costing and variance analysis This section is also one of the fundamental areas of the job of the Management Accountant, as such the Examiner has been asking questions with the exception of May 2015 examination diet. Nonetheless, candidates may be expected to answer theoretical questions on Standard setting processes, causes and variance analysis, Behavioral aspects of standard costing as well as some calculations if possible. We advise candidates to solve more questions on the various variances analysis in this section. NOTE: To be specific, the Examiner may decide not to set any variance analysis questions at all from this section in this examination sitting or he may test students on Operating Statements: Reconciliation of Budgeted Results with Actual Results using variances] or some variance. PREMIUM EDUCATION HUB (0) / +233 (0)

9 G. Investment Appraisal The Examiner has been consistent in the last three sittings in asking candidates questions from this section of the syllabus. The Examiner can ignore setting any question from this section but he can pull a surprise. Candidates are therefore required to thoroughly understand everything in this section. For those candidates who have studied Financial Management, you must understand that the principles are still the same here. NOTE: You will definitely get some questions from this section. We expect the Examiner to test candidates on Profitability Index, Applying Capital Rationing in Investment Appraisal or calculation of the basic investment appraisal techniques. H. Performance management systems, measurements and control This section is expected to have the same features as explained under section G in this analysis. However, in May 2017, the Examiner asked twelve marks questions on transfer pricing. Candidates are to be on the lookout for some questions in this section. As such candidates can focus on Performance analysis in not-for-profit organisations and the public sector or Divisional performance appraisal NOTE: You will definitely get some questions from this section. General advice for this paper: The Management Accounting paper is not a difficult paper but very technical. As such, we expect candidates to follow this analysis and focus on the key suggested areas to increase your chances of passing the paper. PREMIUM EDUCATION HUB (0) / +233 (0)

10 2.3 AUDIT AND ASSURANCE The Audit and Assurance syllabus is divided into eight sections. As such, per the information available to the Examination Committee based on the November 2015, May 2016, November 2016, May 2017 and November 2017 examination diet, the Committee has prepared the following sectional analysis of how the examiner has been setting the questions. AIM To develop knowledge and understanding of the process of carrying out the assurance engagement and its application in the context of the professional regulatory framework. The Examination Committee based on the above past questions, recommend candidates to focus on the following: A. Nature and Scope of Auditing The Examiner has not really tested candidates understanding in this section of the syllabus. As such, we expect the Examiner to ask some introductory to Auditing questions between five to eight marks. Candidates are advice to meticulously understand the introductory concepts of the subject. Candidates can focus on Types of Auditing [External Vrs Internal; Statutory Vrs Internal; Financial Vrs Performance/Operational Auditing] B. Regulatory Framework of Auditing The Examiner has been consistent of asking candidates questions from this section of the syllabus in the last two examination diets. As such we expect the Examiner to set about a 10 marks question from this section. The specific areas may include; Qualification of an Auditor, Removal/Resignation/Retirement of an Auditor. Candidates are advice to study and focus on these key areas. PREMIUM EDUCATION HUB (0) / +233 (0)

11 C. Internal audit The last three examination sittings have observed the Examiner testing candidates understanding from this section. From our analysis, we expect the Examiner to ask a ten marks question from this section. Specifically, candidates are encouraged to focus on internal audit assignments and the scope of the internal audit functions, risk based internal audit or Outsourcing the internal audit function We advise students to understand this section of the syllabus very well. D. Planning and risk assessment It must be noted that, this section of the syllabus is critical to the job of the Auditor. As such, the Examiner has always asked candidate twenty or more marks questions in each of the four examination sittings under discussion. For this reason, we encourage candidates to thoroughly understand everything in this section especially; Analytical procedures at the planning stage, Planning an Audit, Audit documentation and risk assessment. NOTE: Since this section is crucial to the job of the Auditor and the Examiner s level of consistence, we advise students to study everything E. Internal control This section is also critical to the career of the Auditor and the success or failure of the Auditor s ability to understand Internal Controls directly affects the audit evidence gathering process. As such the Examiner has always asked candidates questions in this area. We expect the Examiner to continue with the trend and candidates are encouraged to expect some questions from this section. To be specific, we expect the Examiner to ask questions relating to Internal Control components, Communication on internal control deficiency, tests of control and transaction cycles. PREMIUM EDUCATION HUB (0) / +233 (0)

12 F. Audit evidence This section brings home the main purpose of an audit work; the expression of audit opinion on the Financial Statements audited which is dependent on sufficient and appropriate audit evidence. For this reason, the Examiner will always ask candidates some twenty or more questions from this section. Because of this, candidates are expected to thoroughly cover every detail in this section and focus on the substantive procedures to verify assertions ACCA COVER in relation to liabilities, equity items, other non-current assets apart from inventory and the audit procedures (AEIOU) used in gathering evidence. G. Review The Examiner has been consistent over the last examination sittings, asking questions especially on the Going concern status of a company being audited. Candidates are therefore encouraged to meticulously understand every topic in this section of the syllabus. Specifically, candidates can focus on written representation and Analytical procedures at the concluding stage of an audit. NOTE: Apart from Going concern which the Examiner will definitely set question on, we advise candidates to go through Subsequent events as well. H. Reporting We have observed that the Examiner has been consistent in the last three sittings in relation to this section. As such, we expect the Examiner to test candidates understanding of the topic in this section. Candidates are therefore encouraged to thoroughly go through every topic in this section focusing on the following: Modifications to the Opinion in the Independent Auditor's Report and Forming an Opinion and Reporting on Financial Statements General advice for this paper: We expect the Examiner to set questions across the entire sections of the syllabus and we expect very simple, clear and direct questions to be asked. As such, we advise all candidates to focus on the recommendations made in this analysis as well the entire syllabus and you can be assured of excelling in the paper PREMIUM EDUCATION HUB (0) / +233 (0)

13 2.4. FINANCIAL MANAGEMENT The Financial management syllabus is divided into eight sections. As such, per the information available to the Examination Committee based on the November 2015, May 2016, November 2016, May 2017 and November 2017 examination diet, the Committee has prepared the following sectional analysis of how the examiner has been setting the questions. AIM To develop the knowledge and skills expected of a finance manager, in relation to investment, financing, and dividend policy decisions. The Examination Committee based on the above past questions, recommend candidates to focus on the following: A. Financial Management function The Examiner has been on-and-off with this section, in that per our analysis, the Examiner has asked questions in the last four sittings from this section. However, we cannot assume that the Examiner will not set questions from this section in this examination sitting. We therefore advice all candidates to read and understand the key aspects of the section such as, Financial and other objectives in not-for-profit organisations and The nature and purpose of financial management B. Financial management environment This section has not also been really tested by the Examiner with only sub-questions in the last four sittings. We expect the Examiner to test candidates understanding on treasury functions, the financial markets and the economic environment of businesses. Candidates are therefore encouraged to read thoroughly on these areas. C. Working capital management The Examiner has been consistent with asking questions from this section according to our analysis. As such, we expect the Examiner to continue this trend and specifically examine candidates, cash management models, funding strategies of working capital, importance of working capital, overtrading and under trading, among others or Management of accounts receivable. PREMIUM EDUCATION HUB (0) / +233 (0)

14 D. Investment appraisals According to our analysis, the Examiner has been consistent with this section. As such candidates must expect the Examiner to ask questions in this area such as; the investment decision making process, allowing for inflation and taxation in investment appraisal, sensitivity analysis and specific investment decisions (lease or buy, asset replacement and capital rationing) or NPV schedule. We therefore advice candidates to spend enough to solve more questions and understand these investment appraisal decisions. E. Business finance The Examiner has over the past examination sittings asked questions from this section of the syllabus, with the exception of last sitting. As such, we expect the Examiner to set some subquestions from this section specifically on; sources and raising short-term and long-term finance, dividend policy, gearing and finance for SMEs. F. COST OF CAPITAL This is one of the key aspects of the functions of the financial manager (to find the sources of finance and their relative costs) and the Examiner has always been good at setting questions from this section. As such, candidates are expected to perform some calculations of cost of capital (Equity, Debt or WACC) and also some theoretical questions from this section. G. Business valuation The Examiner did not ask any question from this section during the last two examination sitting (November 2016). However we expect him to ask candidates to perform some business valuation analysis for valuating shares (Dividend model), valuation of debt finance and other valuation models (net asset/price Earnings ratio). Candidates can also be expected to answer some theoretical questions from this section. H. Risk management This is also one of the key functions of the financial manager (Management of Risks) as such the Examiner will always ask candidates questions from this section. For this examination sitting, we expect the Examiner to test candidates understanding on Hedging techniques for foreign currency risk, among others. We also expect him to test candidates understanding on some theoretical topics in this section. PREMIUM EDUCATION HUB (0) / +233 (0)

15 2.5 PUBLIC SECTOR ACCOUNTING AND FINANCE The Public Sector Accounting and Finance syllabus is divided into ten sections. As such, per the information available to the Examination Committee based on the November 2015, May 2016, November 2016, MAY 2017 and November 2017 examination diet, the Committee has prepared the following sectional analysis of how the examiner has been setting the questions. AIM The aim of this paper is to introduce students to the regulatory framework of public sector financial reporting and to equip them with knowledge that would enable them function effectively in the public sector after graduation. It also aims at introducing students to the basic principles and functions of taxation. The Examination Committee based on the above past questions, recommend candidates to focus on the following: A. The Context of Public Financial Management & Accounting The Examiner has not really tested candidates understanding in this section of the syllabus. However, we expect the examiner to test candidates understanding from this section specifically on users of Public sector accounting information, the concept of the new Public financial management in the public sector and other introductory discussion. Candidates are therefore encouraged to read this section thoroughly. B. Public Sector Accounting Concepts and Bases The Examiner has not really tested from this section per our analysis. As such, we expect the examiner to test candidates understanding from this section. We saw the Examiner testing candidates during last two sitting on Basis of accounting. We expect students to study other sub-topic in this section in relation to Public sector accounting concepts and accounting bases. (The advantages & disadvantages) and some public sector accounting concepts: fund accounting, commitment accounting, and appropriation/vote accounting Candidates are expected to understand these topics and be ready to answer questions. C. Legal & Regulatory Framework for Public Financial Management The Examiner has been consistent in asking questions from this section for the past four examination sittings apart from last sitting (November 2017) As such we expect the Examiner to continue with this trend and test candidates understanding from this section specifically in areas such as duties of the MoFEP, Departmental heads, Public Funds and its constituents and other topical areas in relation to the consolidated Fund and government stores. PREMIUM EDUCATION HUB (0) / +233 (0)

16 All candidates are therefore advice to thoroughly read and understand everything in this section. D. Public Procurement As other sections, the Examiner has been consistent in asking questions from this section. As such, we expect him to continue and test candidates understanding in this examination sitting. Areas of consideration can include the following; methods of procurement in the Public Procurement Act, tendering procedures, procedures for disposal of stores, plant and equipment, among others. NOTE: It must be noted that the Examiner will definitely ask questions on procurement because it is central to Public Financial Management of Ghana. E. Budgets and Budgeting in the Public Sector This section being one of the key aspects of the syllabus, we expect the Examiner to test candidates understanding in this examination sitting. As such candidates must focus on the following key areas; processes in the budget cycle, Concept of virement and the circumstances under which it is allowed, merits and limitations of budgeting, among others. F. Revenue Management and Expenditure Control This is also a key aspect of the Public Sector Accounting and Finance syllabus which the Examiner cannot escape from asking questions in any examination sitting. Some of the areas of focus may include; sources of revenue to central government, MMDAs & state owned enterprises, GIFMIS modules, among others. G. Overview of International Public Sector Accounting Standards (IPSAS) The Examiner has been consistent over the period in relation to testing candidates understanding from this section. As such, we expect candidates to be prepared to answer questions from this section in relation to recognition, measurement and derecognition of current assets, liabilities or equity, basis of understanding IPSASs, among others. PREMIUM EDUCATION HUB (0) / +233 (0)

17 H. Financial Reporting for Central and Local Government and NGOs This is another key area of the syllabus and candidates must be on the lookout and be ready to answer questions from this section. This section is preparation of public sector accounts. The Examiner has tested on Revenue and Expenditure Account, Consolidated Fund Financial Statements of Government, Departmental Accounts, Statement of Financial Performance and Statement of Financial Position & cash budget. As such, we expect candidates to expect any of these or double entry accounting for MMDAs and some theoretical questions from this section. You can be assured of at least a twenty marks question from this section and we advise all candidates to take everything serious here. We expect the Examiner to test candidates understanding on Consolidated Financial Statements of Central Government and some theories from this sections. I. Accountability and Value for Money in the Public Sector This section is also an important area to the career of the accountant in Public Sector due to the objective of Government achieving value for money in all projects as well as citizens and NGOs calling government to be accountable; for this reason, as the Examiner has been doing in the past, he will test candidates understanding in this section of the syllabus. Candidates can focus on the concepts of public accountability, mechanism for ensuring value for money in the public sector, roles of internal audit agency, Auditor General, CAG in ensuring public accountability or Corporate governance principles for governing public sector entities. We therefore expect candidates to prepare thoroughly and answer some ten to fifteen marks questions from this section. J. Accounting for Public Private Partnerships The Examiner may test your understanding for an eight or ten marks question from this section. As such, we encourage you to focus on all the topics in this section especially the Uses of Public Private Partnerships, IPSAS 13 and 32 and accounting for PPPs. NOTE: We advise students to download the National Policy on Public Private Partnerships (PPP) to study some of the issues in relation to PPP. PREMIUM EDUCATION HUB (0) / +233 (0)

18 2.6 CORPORATE STRATEGY, ETHICS AND GOVERNANCE The Corporate Strategy, Ethics and Governance syllabus is divided into fourteen sections. As such, per the information available to the Examination Committee based on the November 2015, May 2016, November 2016, May 2017 and November 2017 examination diet, the Committee has prepared the following sectional analysis of how the examiner has been setting the questions. AIM This paper is designed to equip candidates with the skills in the formulation, selection and implementation of corporate strategy. It acquaints candidates with the concepts and principles of strategic management and builds on their knowledge acquired from previous studies in the functional area of management to solve business problems/cases. Emphasis is on the ability of candidates to diagnose organisational problems and provide options for dealing with them. The Examination Committee based on the above past questions, recommend candidates to focus on the following: A. Overview of strategic management The Examiner has not really tested candidates understanding on this section since it s a minor portion of the syllabus. However, we expect the Examiner to test your understanding on these areas; stages of corporate development, the phases of strategic management and the role of strategy in management decision making. B. Developing organizational mission and objectives The Examiner has been consistent with this section of the syllabus in the last three examination sittings. As such, we expect him to ask questions from this section especially on mission statement, organizational objectives. Candidates are expected to understand everything in this section. The Examiner is likely to set question on the Balance Scorecard in this examination sitting. C. Analyzing the External and Internal Organizational Environments The Examiner has been consistent in asking candidates questions from this section especially with the case study (Question 1) of this paper. We expect candidates to meticulously understand everything from this section and focus on value chain analysis, Total Quality Management, PESTEL, SWOT, Weirich Tow s Matrix. D. Strategic Management and International Operations The Examiner has also been consistent with this section in the past three examination sittings. As such, we expect candidates to exhaust the entire topics from this section especially the concept of Globalisation, why companies want to go global and Strategy Formulation and International Operations. PREMIUM EDUCATION HUB (0) / +233 (0)

19 E. Strategic Alternatives, Analysis and Selection The Examiner has been on-and-off with this section. However, we expect him to test candidates understanding from this section especially on Porter s Generic Strategies, International Strategy choices and diversification strategies or life cycle approach. We expect all candidates to completely study every topic in this section. F. Strategy Implementation Management issues Apart November 2015 and May 2016 where the Examiner didn t test candidates understanding from this section, the Examiner has been silent from this sections. However, we expect him to test candidates from this section of the syllabus this sitting. For this exams sitting, we expect him to test candidates understanding on organizational leadership (the various leadership theories must be learned), organizational structure and communication as well as motivation theories and motivation. G. Strategy Implementation: Marketing and Operations Issues According to this analysis, the Examiner tested candidates understanding from this section only in November 2016 examination sitting from this section. As such, this is a minor section and we advise candidates to scan read and focus on areas such as Operational and Research and Development Perspective of management and other marketing principles. H. Strategy Implementation Financial and Human Resource Management Issues The Examiner has been consistent as well with this section. For this reason we expect him to ask questions from the following topical areas; working capital management, investment appraisal techniques, dividend policy and Human Resources functions. NOTE: We advise all students to remember that this section of the syllabus is mostly from other subjects such as Financial Management and Management Accounting. As such, we advise that whatever you learn from these subjects are applicable to Corporate Strategy, Ethics and Governance. I. Strategy Evaluation and Control The Examiner has not really being consistent with this section of the syllabus. However, candidates can expect some minor sub-questions from this section on players in the strategic control process, management control in the strategic context, among others. PREMIUM EDUCATION HUB (0) / +233 (0)

20 J. Business Ethics This section of the syllabus is one of the key areas as Ethics is an important quality of the Professional Accountant. For this reason, the Examiner has been consistent with this section and we expect this to continue in this examination sitting. We therefore advice all candidates to study thoroughly the section and focus on; Ethics, law and illegal corporate behavior, ethics in a global economy, the accountant and ethics, and other ethical issues. K. Corporate Social Responsibility The Examiner has been consistent in the last four sittings with this section due to the fact that it is one of the key areas that are affecting a lot of companies across the world today and a key to the success of every organization. We expect the Examiner to set questions from this section and we encourage all candidates to study everything in this section and understand the various concepts. Students can focus on Implementing Social Responsibility Programmes and Key Elements of Managing the Social Responsibility L. Corporate Governance: Framework and Mechanism This section is also one of the key areas of the syllabus. Even though the Examiner has being on-and-off from our analysis, we can still expect him to test candidates understanding from this section specifically of ; Agency Theory, stakeholders theory, codes of Best Practice, among other governance issues. M. The Role of Boards in Corporate Governance According to our analysis, the Examiner begun testing from this section last two sittings and we expect him to ask a question from this section on; Directors and Board structure, function of directors, role of institutional investors in Corporate Governance, among others. N. The Role of Transparency in Corporate Governance The Examiner has been on-and-off with this section. We advise candidates to study the section and be ready to answer between five to ten marks question(s) from the section. The Examiner may not also ask any question from this section, nonetheless, we advise you to focus on internal controls, Corporate Governance, audit and other topics apart from what has been asked based on our analysis. PREMIUM EDUCATION HUB (0) / +233 (0)

21 Our General recommendations: Please note that this analysis was prepared solely by our lecturers and industrial experts who have gone through the syllabus and read the Chief Examiner s reports on the entire subjects at the level two of the syllabus. We therefore recommend that you take everything discussed and suggested here serious to narrow down your focus and help you to be well prepared for the examination. We advise all students to keep in touch by: Liking our page on Facebook@ Premium Education Hub Joining our Facebook Premium Professional Hub Visiting our website for study materials on all subjects; This will enable you to get updates on the examination and our key information to enhance your passing rate. PREMIUM EDUCATION HUB (0) / +233 (0)

22 DISCLAIMER: It must be noted that, this analysis is purely based on the information available to the Examination Committee as at the time of the preparation of the analysis. As such, this analysis is by no means connected or related in any way to the Examination Committee of the Institute of Chartered Accountants Ghana. Our Examination Committee is made of expert Lecturers and Authors with vast experience in professional examinations. We hereby declare that, anyone who relies on this analysis is a personal choice and will be responsible for the outcome of the reliance on this work. We expect the Chief Examiner of the ICA-GH to set questions around the suggested areas due to the questions set in the past and also based on the idea that, the objective of the examiner is to set questions on the entire syllabus at the end of the period of the life of the current syllabus. We wish you all the best in your exams!!! Signed Nhyira Premium Head of Examination Committee Premium Education Hub PREMIUM EDUCATION HUB (0) / +233 (0)