Mid Sem Paper

4114 Words Apr 30th, 2013 17 Pages
SURNAME OF CANDIDATE: FIRST NAME OF CANDIDATE: STUDENT ID: SIGNATURE:

Official Use Only Q 1 2
SCHOOL OF ACCOUNTING

Mark

3 4 5 6 Total (/75)

ACCT 1511:
Accounting and Financial Management 1B

FINAL EXAMINATION November 2007
Time Allowed: Reading Time: Total Number of Questions: Answer ALL questions. The questions are NOT of equal value. • Answers to Questions 1 to 6 must be written in ink on the lines or in spaces provided in this Booklet. • Question 7 must be answered on the separate Generalised Answer Sheet provided using a 2B pencil. This paper is NOT to be retained by the candidate. DO NOT OPEN THIS PAPER UNTIL INSTRUCTED BY THE EXAM SUPERVISOR 3 Hours 10 minutes 7

QUESTION 1 (10 MARKS): CASH FLOW STATEMENTS
The
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Support your answer by referring to the relevant financial information. (3 Marks)

DO NOT WRITE BEYOND THIS LINE (b) Compare the gross profit growth and gross margin for Coles Ltd in 2005 and 2006 to Woolworths’ over the same period. Support your answer by referring to the relevant financial information. (3 Marks)

DO NOT WRITE BEYOND THIS LINE

QUESTION 2 IS CONTINUED ON PAGE 6. 4

Note: Use the following formulae for ratio calculations if required. Key Ratio Formulae: Performance Ratios Return on Equity (ROE) = Net Profit After Tax / Shareholders’ Equity Return on Assets (ROA) = Earnings before Interest & Tax (EBIT) / Total Assets Profit Margin = Net Profit After Tax / Sales Revenue Gross Margin = Gross Profit / Sales Revenue Activity Ratios Asset Turnover = Sales Revenue / Total Assets Inventory Turnover = COGS / Average Inventory Days Inventory on Hand = 365 / Inventory Turnover Debtors (receivables) Turnover = Credit Sales / Average Trade Debtors Days in Debtors = 365 / Debtors turnover Creditors Turnover = Purchases (or COGS) / Average Accounts

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