University of Leeds - Accounting and Finance - Access to Leeds 2015 Watch

ANON-student
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Hi,
I haven't seen any forums directed at this specific area therefore decided to create this one.

Just wanted a chance to gather any students who have applied to the University of Leeds to study Accounting and Finance through the Access to Leeds scheme. I, myself have done this and i am struggling with the subject specific assessment essay so would really appreciate any help/support in this area from students also completing this. Likewise any student with issues with this can also gain a chance to voice their concerns.

Thank you!
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jbennett121
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(Original post by ANON-student)
Hi,
I haven't seen any forums directed at this specific area therefore decided to create this one.

Just wanted a chance to gather any students who have applied to the University of Leeds to study Accounting and Finance through the Access to Leeds scheme. I, myself have done this and i am struggling with the subject specific assessment essay so would really appreciate any help/support in this area from students also completing this. Likewise any student with issues with this can also gain a chance to voice their concerns.

Thank you!
I'm also doing the ATL program for Accounting and Finance. I'm looking through the questions now and they seem rather vague. Im presuming the 10 mark question is relating to the idea of a Divorce of ownership. There are ideas behind this in most economic text books if that of any help
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BilalAltaf
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Hi,

Seems pretty tough.
With the management and control question, is it just about briefly stating the benefits and drawbacks of Divorce of Ownership, or linking it back to the business in the scenario?
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ANON-student
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I'm not quite sure what they're asking if i'm being quite frank. The initial 35 marker section seems quite vague and narrow, also i don't really know much about the ethics of accounting and business practices.

Has anyone got any ideas/suggestions about how they were planning to lay this out? - or does anyone know a past ATL student who has done a similar assessment to this?
Also i'll post the case study and questions below this post just to refresh everyone's mind and ensure were thinking along the same lines.
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ANON-student
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Business scenario:
You are a partner in a firm of accountants, providing services to clients across a range of industry sectors. Five years ago, your firm became the external accountants, preparing the year end financial statements (accounts) and tax returns, for a relatively young, successful and fast-growing company, Zogg Ltd.Zogg started trading a few years before your appointment with a handful of employees, but now employs 200 people. The company is still small enough that it does not require an audit of its financial statements by law.You have worked closely with the directors of Zogg Ltd, who are also its owners, and its senior staff, and you have become aware that staff are permitted to purchase the goods produced by Zogg Ltd at discounted rates, compared with the price list. The sales to staff are authorised by the production manager, and then processed outside the accounting system for cash. The cash proceeds from these sales to staff are used to fund Zogg Ltd’s staff Christmas party.Assume that sales to staff are £50 per employee on average and that each sale generates a profit of 25 percent of the sales proceeds.

You should address ALL three questions in your answer. Relative mark allocations are shown below.
 Identify the ethical issues arising in this scenario and state which ICAEW ethical principles are relevant in this context. (35 marks)
 In Zogg Ltd’s case, the directors are also the owners of the business. However, as outlined above, this is not always the case. Outline the advantages and disadvantages which may arise from the separation of ownership and management. (10 marks)
 Explain the potential consequences of the cash sales to employees and state which government-related group might be interested in this arrangement and why. (5 marks)
(50 marks total)
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ANON-student
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With the ICAEW principles which are effected by this case study. which of the 5 fundamental principles do people think this is?

Also am i correct in assuming that the staff sales are not included in the official documents for the business, and that this is against the law?

Another quick point to address with "which government related group migh be interested in this arrangement" - would this be HM Revenue and Customs?
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jbennett121
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(Original post by ANON-student)
With the ICAEW principles which are effected by this case study. which of the 5 fundamental principles do people think this is?

Also am i correct in assuming that the staff sales are not included in the official documents for the business, and that this is against the law?

Another quick point to address with "which government related group migh be interested in this arrangement" - would this be HM Revenue and Customs?
Thats all i could think of tbh ahahah! I was also thinking that maybe this would mean that official documents were unreliable.
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BilalAltaf
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How are you guys getting on with the ethics question? The other 2 seem pretty straight forward but I seem to be struggling on Q1
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ANON-student
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(Original post by BilalAltaf)
How are you guys getting on with the ethics question? The other 2 seem pretty straight forward but I seem to be struggling on Q1
I haven't actually started my essay yet. At the moment i'm just gathering ideas and thoughts to it before committing myself to completing the actual thing.

With the ethics part however, which of the ICAEW principles do you think effects this case study the most?

ALSO is anyone planning on doing an introduction to the essay, or simply just getting right in there. I don't think the word limit is very generous so personally i feel like an introduction may just be a waste of potential words. I'd rather get stuck in straight away!
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ANON-student
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Which advantages and disadvantages are people using for the second part? I've never heard of a separation of ownership and management, therefore am oblivious to the pros and cons of it within the case study.
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BilalAltaf
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For q2 I just researched the pros and cons of separation of ownership and management in general and linked it back to Zogg LTD but im unsure about q1 and what principles link with the sceaneio, any ideas?
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ANON-student
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(Original post by BilalAltaf)
For q2 I just researched the pros and cons of separation of ownership and management in general and linked it back to Zogg LTD but im unsure about q1 and what principles link with the sceaneio, any ideas?
Could you put some of the pros and cons on this forum, just to give me a chance to ensure i have used the correct ones and i am not going off-topic.
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ANON-student
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Question for anyone:

With the referencing in the accounting and finance assessment, what are we meant to reference?

Don't also understand what we should use with the references they gave... i.e. are we meant to re-reference them back into our assessment or...?

Are references included in the word limit?

Another point: how many advantages and disadvantages are people using per side? baring in mind the word limit is fairly narrow, of only 1,250 words
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ANON-student
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Also how far are people already in completing the assessment, i.e. how much have you already done?

AND when are people planning to send there assessment? are they going to send a draft initially?
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Jessdxxxx
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I also want to ATL within accountancy and finance, but i havent picked any alevels related to it, only maths. Do i need to know the basics for applying in September?
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BilalAltaf
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Benefits

1. The current owners at Zogg Ltd may not have the relevant skills and experiences for the management roles. Therefore separation of ownership and management will enable the Ltd to be run by professionals with diverse skills and experiences in specific roles such as Marketing, Finance and HR.

2. Will empower the existing staff/new managers in the Ltd due to the newer job roles that will be given due to the separation of ownership and management. This will be beneficial because the greater levels of empowerment and delegation can lead to more motivation thus improving the productivity and overall performance of the company.

Drawbacks

1.Delegation to staff within the organisation as well as to new potential managers may take time, trust as well as expertise which may require certain training which can be costly for Zogg Ltd.

2.Leads to a loss of control for the Owners of Zogg Ltd because the staff as well as the management team would have different interests and objectives in relation to the owners.

They are the brief benefits and drawbacks I have come up with, but not too sure if they are correct/ if I'm on the right line. How are you finding the Ethics question,I'm not too sure about it.
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ANON-student
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(Original post by BilalAltaf)
Benefits

1. The current owners at Zogg Ltd may not have the relevant skills and experiences for the management roles. Therefore separation of ownership and management will enable the Ltd to be run by professionals with diverse skills and experiences in specific roles such as Marketing, Finance and HR.

2. Will empower the existing staff/new managers in the Ltd due to the newer job roles that will be given due to the separation of ownership and management. This will be beneficial because the greater levels of empowerment and delegation can lead to more motivation thus improving the productivity and overall performance of the company.

Drawbacks

1.Delegation to staff within the organisation as well as to new potential managers may take time, trust as well as expertise which may require certain training which can be costly for Zogg Ltd.

2.Leads to a loss of control for the Owners of Zogg Ltd because the staff as well as the management team would have different interests and objectives in relation to the owners.

They are the brief benefits and drawbacks I have come up with, but not too sure if they are correct/ if I'm on the right line. How are you finding the Ethics question,I'm not too sure about it.
That's pretty much the same as to what I've come up with, i have also stuck to only doing 2 points per pro/con.
I am struggling with the ethics questions as i haven't started it yet, i don't know what to write about apart from the ICAEW principles that it effects.
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ANON-student
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quick question:

the ethical question says to 'identify the ethical issues'- issue(s) as in plural? so is there more than one ethical issue going on here? my assumption was that the main and only ethical issue that the staff sales. So whats the other(s)?
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BilalAltaf
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Hows it going? Got my feedback need to slightly improve q1, how are you guys tackli g this question/what sources are you using?
Do we have to state ways in which the ethical issues can be resolved?
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ANON-student
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#20
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did anyone pass the a2l course and get into leeds?
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