CIMA Operational Case Study – Mock Exams – November 2022 & February 2023
No matter how well you know the theory and the pre-seen, unless you can use your knowledge in an exam situation, all of your revision is worthless!
To make sure you pass first time, you need to prepare yourself for even the most challenging of questions under exam conditions. That’s why we create 5 brand new mock exams for each case study, each tailored to the latest pre-seen and based on topics we think you are most likely to see in your exam.
Our case study mocks will:
- Test your overall knowledge of the syllabus and the latest pre-seen
- Highlight your weaknesses to focus on in your remaining revision
- Improve your time management skills in an exam environment
Why use Astranti mock exams?
Are you ready for the CIMA exam?
- Exam standard mock exams, replicating the real thing
- Use the interactive version to test yourself in an online environment that mimics the real exam
- Updated for each case study sitting to relate to the latest pre-seen and industry
Learn from your mistakes
- Comprehensive solutions provided online with every mock exam
- Solutions include model answers so that you can see how high-quality answers are structured and written
- Compare your answers the solutions to assess your own performance
- Marking is available as an add-on to get detailed personalised feedback on how to improve
Focus your revision
- Identify areas of weakness so you can focus your revision on the key areas for you
- Format replicates the final exam so there are no surprises when you enter the real thing
- Attempt the mocks as many times as you like within the sitting, so that you can keep testing yourself as you progress through your studies
Mock exam synopses
OCS mock exam 1 - synopsis
It’s an exciting time at FireWorks, as the company is considering offering physical retail stores. This is a huge undertaking, so the costs and benefits of the decision, as well as how big data can be utilised, need to be analysed. Further, an analysis of the working capital and liquidity position of a potential supplier for the new retail store, and suggestions of KPIs that can be used to monitor said supplier’s performance, are needed.
FireWorks is also looking into alternative approaches to costing, so a review of the company’s absorption costing system needs to be undertaken. From a financial reporting point of view, there is some work to be done in relation to IFRS 16: Leases, and IAS 36: Impairment. There is also some budgeting-related work to do around a participative approach to budgeting and the human and behavioural aspects of budgeting.
Looking ahead to the future, an explanation of different approaches to standard setting and the implications of this for a potential acquisition of a competitor is needed.
OCS mock exam 2 - synopsis
FireWorks as an organisation is passionate about all aspects of outdoor dining. In order to stay competitive and keep up with consumer demands, senior management recognise that developing new products is key to sustained growth. There are several possible product development ideas in contention, and the first step is to appraise each of these from a financial perspective, whilst also taking into account how the company’s appetite for risk will impact upon the resulting choice. Additionally, changing the company’s product mix leads to questions surrounding the adequacy of the current absorption costing system and the potential benefits of implementing an activity-based costing system instead.
With new product development comes questions around factors such as demand and pricing. Specifically, how can the historic demand for a similar line of products manufactured by a competitor, be used to forecast the likely demand for a comparable range of FireWorks products? Also, what price should the company set for the new pizza oven range, and how will specific retail discounts impact upon costs and profits?
Once production has begun, there are a new range of issues to review. Initial insights show that there has been an adverse performance versus budget with a number of unfavourable material variances arising and there is a need to identify what may have driven these. Additionally, there are questions surrounding the company’s current inventory management practices and whether implementing the EOQ could prove beneficial. Looking at how these issues could have been prevented is also key and increased managerial involvement in the budget setting process is one solution under contention.
Finally, in line with the company’s environmental goals and continuing with the theme of making improvements and seeking efficiencies throughout the organisation, the business is procuring a new fleet of hybrid vehicles. Therefore consideration must be given to how to account for these assets and also the accounting treatment required in respect of the existing vehicles set for disposal.
OCS mock exam 3 - synopsis
It’s a busy time at FireWorks as the company plans to launch a new product; the smart grill. The investment into this new product means it’s time to think about the company’s wider support infrastructure, including whether activity-based budgeting and a Just-in-Time inventory management system might be suitable.
When it comes to marketing the new smart grill, a decision needs to be made about whether to choose television or radio advertising. KPIs to monitor the performance of the smart grill’s digital marketing campaign also need to be suggested.
The costs involved with the digital app that accompany the smart grill must be explained, as well as the ways in which FireWorks can effectively govern and utilise the customer data garnered from this.
Finally, after the smart grill has been launched, the sales variances need to be analysed. The effect of introducing a digital costing system and the benefits of ZBB for the marketing department also need to be considered.
OCS mock exam 4 - synopsis
The overall theme of this mock is that a corporate customer, ‘Rent A Tent’ has approached the business for a customised order. It is hoped successful fulfilment of this order would open up a new revenue channel.
The relevant costs to be considered before deciding whether to accept the order are to be identified and discussed. Then an explanation of the benefits of ABC costing over the current absorption costing system is made in the context of costing and pricing for the corporate order. Lastly, a discussion is made on the importance of budgeting for this corporate order.
The financial implications of extending a longer credit period to the corporate customer – ‘Rent A Tent’ is considered. Accounting treatment of non-current assets is explained.
The concept of responsibility accounting is discussed and the possible concerns of heads of sub-departments over responsibility for quality KPIs are discussed. A discussion is made on the calculation of fixed overhead variances and possible reasons for the same. Planning and operational variances and the benefits of reporting them separately are discussed.
Explanation of the linear programming graph with demand and capacity constraints made to determine optimum production. Also, a discussion of how to overcome capacity constraints and how to determine the maximum price for additional resources was discussed. Three areas of the CGMA Cost Transformation Model were discussed. Sustainability KPIs were identified, and appropriateness and method of calculation were discussed.
OCS mock exam 5 - synopsis
Fireworks’ frit supplier, Fritzer has declared bankruptcy and is shutting down. Since this was the sole frit supplier, Fireworks must find an alternative supplier to fill in the vacant position. Fireworks applies various tools and techniques to find the best supplier in the market. The impacts of frit price changes are evaluated using the multi-product break-even chart, what-if analysis and pay-off tables. Meanwhile, Fireworks must make the best use of the available frit and throughput accounting is used to allocate this now a scarce resource.
As Fireworks concludes the 2022 financial statements, some events emerge after the reporting period, and these must be incorporated in the financial statements for the year ending 30 June 2022. As the company grows, some of its assets are no longer able to sustain the growth and this pushes Fireworks to dispose of some of its assets to purchase bigger and better ones. The disposals must be accounted for in the books of accounts.
The introduction of a new frit supplier, coupled with other factors, led to a conflict between the enamelling department and the finance department after variances for the enamelling department were calculated and indicated poor performance. The two departments work together to establish whether the enamelling department is to blame for the variances. Meanwhile, the team is exploring some changes in their operation, such as the shift from the current budgeting approach to a flexible approach and the shift from conservative to aggressive inventory management. It’s an exciting year for Fireworks, with many lessons along the way.
OCS mock exam 6 - synopsis
Meals@Home is getting ready to start development on some new weather monitoring software that it hopes to use to improve its overall service. To that end, your Financial Manager needs assistance explaining different issues that will arise over the year as the project unfolds.
You will be expected to explain how to make decisions based on uncertain information and how to cost this digital product.
Alongside these duties, you will also be expected to understand the accounting rules for adjusting events and taxation and the impact these treatments have on the company’s financial statements.
Mock exam debrief videos
We have produced video debriefs for every one of our OCS mock exams that give you all the information you need to construct a high-quality answer. Our experienced OCS tutor analyses every question and takes you through a step-by-step guide on the best way to approach them!
By watching the debrief videos you will understand how to…
- Pick out all the key information
- Use that information to build an effective plan – many students fail due to poor answer planning!
- Formulate an excellent answer
The hour-long videos are designed to be watched after completing each mock. This allows you to assess your performance and identify how you can improve going into your remaining mocks and the final exam.
In our sample video, our OCS tutor takes you through question 1 of the mini mock. The full mini mock debrief can be accessed for free in the studyHUB.
By purchasing marking and feedback for your case study mock exams, you will be assigned your own OCS exam marker who will mark your mock exam, highlight your strengths and weaknesses and give you detailed feedback as to how you can improve on your exam performance.
Our marking & feedback will:
- Offer a helping hand, from an experienced, CIMA qualified tutor
- Provide you with a 9-page document highlighting what you did well, what needs improvement and how to go forward with your studies
- Maximise your marks by giving you specific areas to focus on in the remainder of your revision
- Improve your exam technique – our markers know exactly what it takes to write great answers and score high marks
“I enjoyed the OCS course offered and felt it prepared me really well for the exam. The study material was well presented and engaging and the masterclasses were very informative and covered a good range of potential topics. Having a number of mocks available covering all the key areas and the feedback received from these really helped me to feel confident and prepared ahead of the exam.”
“The case study mocks were really helpful and gave me sufficient practice for the exams”
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OCS mock exams:
OCS mock exams 1-3
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OCS mock exams 4+5 top up
Mock exams with debrief videos:
OCS mock exams 1-3 + debrief videos
OCS mock exams 1-5 + debrief videos
OCS mock exam 4+5 top up + debrief videos
OCS marking & feedback:
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Mock exam questions will be printable however the solution documents will be available online only.