Exam (elaborations)
Financial Management 214 Past Papers
- Institution
- Stellenbosch University (SUN)
Past papers for test 1, 2 and 3 from 2015; and test 1 and 2 from 2016
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UNIVERSITEIT VAN STELLENBOSCH / UNIVERSITY OF STELLENBOSCHDEPARTEMENT ONDERNEMINGSBESTUUR /
DEPARTMENT OF BUSINESS MANAGEMENT
FINANSIËLE BESTUUR 214 / FINANCIAL MANAGEMENT 214
TOETS 1 / TEST 1
27 Maart March 2015
TYD / TIME: 2 UUR / HOURS
50
Dosente / Lecturers: Me A de Vries, Mev S Brand, Prof FJ Mostert, Mnr DJ Smit
& Mnr JMM van den Berg
Interne Moderator / Internal Moderator: Prof PD Erasmus
VAN / SURNAME
VOORL / INITIALS US. NO. / NR. HANDTEKENING / SIGNATURE
Instruksies Instructions
● Maak seker u sit in die regte lokaal volgens u ● Ensure that you are in the correct room
van-indeling. Indien nie, gaan na die korrekte according to the subdivision of surnames.
lokaal. If not, go to the correct room.
● Slegs nie-programmeerbare sakrekenaars mag ● Only non-programmable calculators may
gebruik word. be used.
● U mag geen bladsye van hierdie toets losmaak ● No pages of this test may be removed.
nie. Handig die volledige toets in. Hand in the complete test.
● Beantwoord alle vrae in die ruimtes wat ● Answer all questions in the spaces
voorsien is in pen (blou of swart) en skryf provided in pen (blue or black) and write
netjies. Indien u die vraestel in potlood neatly. If this paper is answered in pencil,
beantwoord, verbeur u die reg tot appél. Waar you lose your right to appeal. Where
nodig, rond antwoorde tot 2 desimale plekke. necessary, round answers to 2 decimals.
● Hierdie toets vorm ‘n integrale deel van die US ● This test forms part of the US examination
se eksamineringstelsel. Geen boek of geskrif system. No book or writing of any type
van enige aard mag in u besit wees nie. Enige may be in your possession. Any
oneerlike gedrag sal tot gevolg hê dat dishonesty will lead to disciplinary action in
tugstappe ooreenkomstig die Studente- accordance with the Student Regulations.
reglement ingestel kan word.
● U mag eers na 30 minute die toetslokaal ● You may only leave the test venue after 30
verlaat. minutes.
1
,VRAAG 1 / QUESTION 1 (6 PUNTE / 6 MARKS)
Beantwoord die volgende vrae deur die Answer the following questions by studying
gegewe stellings te bestudeer, die regte the given statements, identify the correct
opsie te identifiseer en die letter van die option and indicate the letter of the correct
korrekte opsie [bv. A] in die toepaslike ruimte option [eg. A] in the applicable space at the
aan die einde van bladsy 3 in te vul. end of page 3.
Die opsies by vrae 1.1 tot 1.6 is almal The options for questions 1.1 to 1.6 are all
dieselfde, en verskyn hieronder: the same, and appear below:
Opsies Options
Beide stellings is korrek. A Both statements are correct.
Stelling 1 is korrek; stelling 2 is nie korrek nie. B Statement 1 is correct; statement 2 is incorrect.
Stelling 1 is nie korrek nie; stelling 2 is korrek. C Statement 1 is incorrect; statement 2 is correct.
Beide stellings is nie korrek nie. D Both statements are incorrect.
Stelling 1 Die staat van kontantvloei gee ‘n The statement of cash flow Statement 1
aanduiding van hoe die wins provides an indication of how the
(verlies) in die onderneming 1.1 profit (loss) was generated in the
gegenereer is company
Stelling 2 ‘n Finansiële hefboomfaktor A financial leverage factor Statement 2
groter as een dui aan dat greater than one indicates that
negatiewe finansiële hefboom- negative financial leverage
werking plaasvind occurs
Stelling 1 Om die netto bedryfskapitaal To calculate the net working Statement 1
(SFP) te bereken moet die capital (SFP), the difference
verskil tussen bedryfsbates en 1.2 between current assets and
bedryfslaste bereken word current liabilities needs to be
calculated
Stelling 2 Hoe groter die skuldverhouding The greater the debt ratio of an Statement 2
van ‘n onderneming, hoe kleiner enterprise, the smaller the
word die finansiële risiko financial risk
Stelling 1 Die herwaardasiereserwe wat The revaluation reserve created Statement 1
ontstaan wanneer bates teen ‘n when assets are revaluated at a
realistiese markwaarde 1.3 realistic market value is a non-
herwaardeer word, is ‘n nie- distributable reserve
verdeelbare reserwe
Stelling 2 ‘n Belegging in ‘n ander An investment in another Statement 2
maatskappy word geklassifiseer company is classified as an
as ‘n belegging in ‘n associate if the company owns
geassosieerde indien ‘n less than 20% of the shares in
maatskappy minder as 20% van the other company
die aandele in die ander
maatskappy besit
2
,Stelling 1 Die netto batewaarde per The net asset value per ordinary Statement 1
gewone aandeel is ‘n share is a profitability ratio
winsgewendheidsverhoudings-
getal 1.4
Stelling 2 ‘n Verandering in reserwes van A change in reserves from one Statement 2
een jaar tot die volgende jaar year to the next is included under
word ingesluit onder the financing activities in the
finansieringsaktiwiteite in die statement of cash flow
staat van kontantvloei
Stelling 1 Indien twee investeringsprojekte If two investment projects must Statement 1
teen mekaar opgeweeg moet be weighed against one another,
word, verwys “sunk costs” na then “sunk costs” refer to the lost
die verlore inkomste van die income from the project that was
projek wat nie aanvaar word nie 1.5 not accepted
Stelling 2 Die verskil tussen die The difference between the Statement 2
verkoopprys en die drawaarde selling price and the carrying
van ‘n verkoopte bate word as value of an asset sold, is
kapitaalwins geklassifiseer classified as capital gain
Stelling 1 ‘n Komplimentêre projek is een A complimentary project is one Statement 1
wat ‘n positiewe effek op die that has a positive effect on the
kontantvloei van ‘n onderneming 1.6 cash flows of an enterprise’s
se bestaande projekte het existing projects
Stelling 2 Wanneer kapitaalinvesterings- When considering capital Statement 2
projekte oorweeg word, word investment projects, accounting
rekeningkundige winste eerder profits, rather than cash flow are
as kontantvloei aangewend used
1.1 1.2 1.3 1.4 1.5 1.6
Antwoord /
Answer
3
, VRAAG 2 / QUESTION 2 (20 PUNTE / 20 MARKS)
'n Uittreksel uit die Staat van finansiële An extract from the Statement of financial
posisie op 28 Februarie 2014 en 2013, en position on 28 February 2014 and 2013, and
die Staat van omvattende inkomste vir 2014 the Statement of comprehensive income for
verskyn hieronder. 2014 appears below:
STAAT VAN FINANSIËLE POSISIE 2014 2013 STATEMENT OF FINANCIAL
POSITION
Uitgereikte gewone aandelekapitaal 187 500 175 000 Issued ordinary share capital
(2014: 53 500; 2013: 50 000) (2014: 53 500; 2013: 50 000)
Skuldbriewe (14%) 50 000 75 000 Debentures (14%)
Nie-beherende belang 12 500 15 000 Non-controlling interest
Handelskrediteure 30 000 23 750 Trade payables
Aflosbare Voorkeuraandele 18 750 31 250 Redeemable Preference shares
Herwaardasiereserwe 51 250 20 000 Revaluation reserve
Verband (8%) 200 000 225 000 Mortgage bond (8%)
Oortrokke bankrekening (10%) 20 000 12 500 Bank overdraft (10%)
Dividende betaalbaar 4 750 7 750 Dividends payable
Belasting betaalbaar 8 125 5 875 Tax payable
Algemene reserwe 78 750 25 000 General reserve
Uitgestelde belasting 2 125 1 375 Deferred taxation
Onuitgekeerde verdienste 36 250 7 500 Retained earnings
Korttermynlenings (6%) 15 000 10 000 Short term loans (6%)
Voorraad 43 750 75 000 Inventory
Klandisiewaarde 50 000 55 000 Goodwill
Kontant- en kontantekwivalente 21 250 43 750 Cash and cash equivalents
EAT teen drawaarde 450 000 375 000 PPE at carrying value
Opgelope depresiasie 300 000 287 500 Accumulated depreciation
Langtermynlenings toegestaan(15%) 75 000 25 000 Long-term loans granted(15%)
Aandeelbeleggings 0 30 000 Share investments
Patentregte 40 000 0 Patent Rights
Handelsdebiteure 35 000 31 250 Trade receivables
STAAT VAN OMVATTENDE INKOMSTE 2014 STATEMENT OF COMPREHENSIVE
INCOME
Bedryfsuitgawes 98 350 Operating expenses
Bedryfswins 151 650 Operating profit
Wins met verkoop van EAT 5 000 Profit on sale of PPE
Wins na belasting 105 000 Profit after tax
ADDISIONELE INLIGTING: ADDITIONAL INFORMATION:
● Doen alle rente en dividend berekeninge ● Calculate all interest and dividend
op eindsaldo’s. calculations on closing balances.
● Die winstoeslag persentasie = 25%. ● The markup percentage = 25%.
● Die belastingkoers = 30%. ● The tax rate = 30%.
● Dividendinkomste van R 5 000 is ● Dividend income to the value of R 5 000
gedurende die jaar ontvang was received during the year
● Depresiasie ingesluit by bedryfsuitgawes ● Depreciation included in operating expenses
beloop R20 000. amounts to R20 000.
● Voorkeuraandele ter waarde van R12 500 ● Preference shares to the value of R12 500
is in 2 500 gewone aandele omskep. were converted into 2 500 ordinary shares.
● ‘n Voorkeurdividend van R 4 830 was ● A preference share dividend of R 4 830
verklaar gedurende die jaar. was declared during the year.
● Skuldbriewe ter waarde van R18 750 is in ● Debentures to the value of R18 750 were
3 750 gewone aandele omskep. converted into 3 750 ordinary shares.
4
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