CIMA P3 Exam With Confidence Using Practice Dumps

Establishing an Internal Audit department.

Purchase invoices are now approved for payment at branches and a list of approved invoices are sent to head office for payment. The invoices, supporting documentation and suppliers' statements are retained at the branches.

Excess funds are now invested, by the Finance Director, in short-term securities. The Finance Director initiates buy and sell transactions and she also receives and retains all correspondence relating to the investments.

A policy has been initiated to complete a physical inventory of all non-current assets at least annually. This is then reconciled with the non-current asset register.

N has just opened a bank account in the currency in which the newly opened branch is now operating.

It is entirely appropriate that Tom and Peter have this kind of relationship and both are acting in the best interests of the company.

Non-contentious board meetings show how well Tom and Peter are running the company and shows that the management is cohesive.

The relationship between Peter and Tom may have a detrimental effect on company decision making as the Board is not always being informed about matters in an unbiased manner.

Since the non-executive chair clearly has a significant role within this company there is little danger that any individual will become excessively dominant.

A company is considering giving poorly-paid staff a generous pay rise.

A company is deciding whether to issue debt or equity.

A company is deciding whether to make a substantial bonus payment to its directors by means of cash or shares.

A company must decide whether to settle a claim from an employee who appears to have fabricated a workplace injury. The company want to avoid the cost of defending the claim.