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CIMAPRA19-E01-1 Exam - Topic 3 Question 83 Discussion

Actual exam question for CIMA's CIMAPRA19-E01-1 exam
Question #: 83
Topic #: 3
[All CIMAPRA19-E01-1 Questions]

Stephanie has just secured a job as a management accountant for a well-known banking firm. She needs to understand the organisation's financial position.

What should she do first in order to gain this understanding?

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Suggested Answer: A

by Mona at Mar 15, 2024, 04:21 AM

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Jamey
4 months ago
Submitting to IFRS? That seems way too advanced for a first step!
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Loren
5 months ago
Totaling day books is crucial too, but not first!
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Antonio
5 months ago
Wait, isn't informing tax authorities more important?
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Joanne
5 months ago
I agree, that's the best first step.
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Arthur
5 months ago
She should definitely start with the books of prime entry!
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Candida
6 months ago
I’m a bit confused; I thought informing tax authorities was crucial, but maybe that’s not the first step in understanding the financial position?
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Detra
6 months ago
Submitting accounts to IFRS seems like something that comes later, right? I don't think that's the first thing she should do.
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Ahmad
6 months ago
I remember a practice question about understanding financial positions, and I feel like totaling day books and entering them into ledgers was important too.
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Kimi
6 months ago
I think she should start by recording transactions in the books of prime entry, but I'm not entirely sure if that's the very first step.
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Louvenia
6 months ago
I feel pretty confident about this one. The question is asking what Stephanie should do first, so the obvious answer is option A - recording the organization's transactions in the books of prime entry. That's the fundamental first step for a management accountant to understand the financial position.
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Chantell
6 months ago
Okay, let me think this through. As a new management accountant, the first thing Stephanie should probably do is get a high-level understanding of the organization's financial position. So I'm leaning towards option D - submitting the company's accounts to the IFRS. That seems like it would give her a good starting point.
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Annett
6 months ago
Hmm, I'm a bit unsure about this one. The question is asking what Stephanie should do first, so I'm not sure if option C is the best choice since that involves more detailed accounting work. Maybe I should consider the other options more closely before deciding.
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Cyril
6 months ago
This seems like a straightforward question about the first steps a new management accountant should take. I think I'll go with option C - totaling the day books and entering them into the ledgers. That seems like a logical starting point to get a handle on the organization's financial records.
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Alyce
6 months ago
I'm feeling pretty confident about this one. The question is specifically asking about file-system buffering, so I'm going to go with option B, "durableQueueSize".
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Pedro
6 months ago
Ah, I've got this one! Reversing entries are the exact opposite of the previous adjustments, so the correct answer is D.
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Eura
6 months ago
Ah, I've got this! SecOps is all about the people, processes, and technology, but it also requires a deep understanding of the business, accessibility, and overall strategy. I'm feeling good about this one.
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Melissa
6 months ago
If I recall correctly, HTTP has identifiable patterns in the payload. I guess I'll lean towards that option for this question.
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Kristal
6 months ago
Hmm, I'm not sure about this one. I know we need to move the backups, but I'm not familiar with the different commands. I'll have to think this through carefully.
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Darell
7 months ago
Hmm, this is a tricky one. There are a few options that seem plausible, but I'm not entirely sure which ones are the "advantages" they're looking for. I'll have to think this through carefully.
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Vicky
2 years ago
I don't think that's the first step. Totaling all the day books and entering them into ledgers would give her a clearer financial picture.
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Fernanda
2 years ago
But shouldn't she also inform the tax authorities of the organisation's revenues?
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Reta
2 years ago
I agree, that way she can keep track of all the financial activities of the organisation.
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Tomas
2 years ago
I think Stephanie should record the organisation's transactions in the books of prime entry first.
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Staci
2 years ago
That's true. It will provide transparency and credibility to the financial statements.
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Lilli
2 years ago
I think submitting the company's accounts to the IFRS is important too in order to ensure compliance with international financial reporting standards.
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Nohemi
2 years ago
Yes, that's a good point. It will help her see the overall financial health of the organization.
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Brandon
2 years ago
But shouldn't she total all the day books and enter them into ledgers to have a clear picture of the financial position?
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Novella
2 years ago
I agree, that way she can see all the financial activities of the organisation.
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Cammy
2 years ago
I think Stephanie should record the organisation's transactions in the books of prime entry first.
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