Junior Accountant - FCA - Test
Content
TEST FOR CANDIDATES FOR THE POST: JUNIOR ACCOUNTANT - FCS
TIME ALLOWED: 3 HOURS
Instructions
Electronic versions of all the files and documents necessary for this test are on the computer desktop in a
folder called "J ACCOUNTANT - TEST PAPERS".
For questions 1 to 4 please prepare separate Word files and name them "Q1 - your name", "Q2 - your name",
"Q3 - your name", and "Q4 - your name", respectively. (your name = your own proper family name)
For question 5, please prepare separate Excel worksbooks and name them as described in that section.
Save all your replies on the computer desktop in a new folder named "Replies - your name".
(your name = your own proper family name)
PART 1 Accounting Test
Marks
30
Q. 1
In financial accounting, what are the three basic accounting assumptions? Explain the meaning of each one.
10
Q. 2
How would you define depreciation? State whether or not, in your opinion, depreciation should be charged on fixed assets
acquired under grant by a donor agency for a development project? Give brief comments in support of your opinion.
10
Q. 3
What are the types of opinion that an auditor can issue? Give a single sentence definition for each type of opinion.
10
PART 2 Analytical and drafting skill test
Q.4 Case Study
The European Commission signed a grant contract (DCI-ASIE/2011/277-903) with the beneficiary "ABC Company". An
initial pre-financing was released based on the special conditions of the grant contract. The "ABC Company" has
submitted a payment request along with the financial report after first year of implementation.
The payment request and the financial report have errors. Using the checklist as a guide, you are required to carefully
analyse the payment request and the financial report for compliance with the special conditions, general conditions and
other annexes (see below) of the grant contract and to prepare a letter to the "ABC company" indicating to them the
shortcomings by giving the references from the special and the general conditions, and asking the company to clarify and
submit the revised report by giving them the deadline of 30 days.
50
The Following documents are provided for this case study:
Grant contract copy containing
• Special conditions
• Annex II - General conditions
• Annex III - Approved budget for action
• Annex V - Payment request template
• Annex VI - Financial Report template
• Bank account document provided for payment with the contract
Other facilitation documents including
• Checklist ( this will help you to indicate the problems)
• Info Euro rate – for facilitation and information purpose
• ABC company Payment request
• ABC company Financial report
50
For the letter please use font "Arial, font size 10". The subject text should be in bold.
Instructions on how to present the text:
• The text must be presented in the font "Arial, font size 10". Failure to use this font will result in deduction of points.
• Paragraphs must be formatted as full justification. Failure to use this formatting will result in deduction of points.
• Set the language of the entire document to "English UK". Failure to do so will result in deduction of points.
• You must use spell check, any spelling mistakes will result in deduction of points.
• Names of countries, places or persons must be in bold italics and underlined, failure to use this presentation will result
in deduction of points.
• The letter must be dated 21 September 2013. There should be a subject line, in bold text, with an appropriate text, and
there should be a reference line with an appropriate reference.
PART 3 Information Technology/ Excel skill / Data analysis
Q.5 See separate Excel document "Part 3 - IT - Excel - Data analysis
20
20
100
TIME ALLOWED: 3 HOURS
Instructions
Electronic versions of all the files and documents necessary for this test are on the computer desktop in a
folder called "J ACCOUNTANT - TEST PAPERS".
For questions 1 to 4 please prepare separate Word files and name them "Q1 - your name", "Q2 - your name",
"Q3 - your name", and "Q4 - your name", respectively. (your name = your own proper family name)
For question 5, please prepare separate Excel worksbooks and name them as described in that section.
Save all your replies on the computer desktop in a new folder named "Replies - your name".
(your name = your own proper family name)
PART 1 Accounting Test
Marks
30
Q. 1
In financial accounting, what are the three basic accounting assumptions? Explain the meaning of each one.
10
Q. 2
How would you define depreciation? State whether or not, in your opinion, depreciation should be charged on fixed assets
acquired under grant by a donor agency for a development project? Give brief comments in support of your opinion.
10
Q. 3
What are the types of opinion that an auditor can issue? Give a single sentence definition for each type of opinion.
10
PART 2 Analytical and drafting skill test
Q.4 Case Study
The European Commission signed a grant contract (DCI-ASIE/2011/277-903) with the beneficiary "ABC Company". An
initial pre-financing was released based on the special conditions of the grant contract. The "ABC Company" has
submitted a payment request along with the financial report after first year of implementation.
The payment request and the financial report have errors. Using the checklist as a guide, you are required to carefully
analyse the payment request and the financial report for compliance with the special conditions, general conditions and
other annexes (see below) of the grant contract and to prepare a letter to the "ABC company" indicating to them the
shortcomings by giving the references from the special and the general conditions, and asking the company to clarify and
submit the revised report by giving them the deadline of 30 days.
50
The Following documents are provided for this case study:
Grant contract copy containing
• Special conditions
• Annex II - General conditions
• Annex III - Approved budget for action
• Annex V - Payment request template
• Annex VI - Financial Report template
• Bank account document provided for payment with the contract
Other facilitation documents including
• Checklist ( this will help you to indicate the problems)
• Info Euro rate – for facilitation and information purpose
• ABC company Payment request
• ABC company Financial report
50
For the letter please use font "Arial, font size 10". The subject text should be in bold.
Instructions on how to present the text:
• The text must be presented in the font "Arial, font size 10". Failure to use this font will result in deduction of points.
• Paragraphs must be formatted as full justification. Failure to use this formatting will result in deduction of points.
• Set the language of the entire document to "English UK". Failure to do so will result in deduction of points.
• You must use spell check, any spelling mistakes will result in deduction of points.
• Names of countries, places or persons must be in bold italics and underlined, failure to use this presentation will result
in deduction of points.
• The letter must be dated 21 September 2013. There should be a subject line, in bold text, with an appropriate text, and
there should be a reference line with an appropriate reference.
PART 3 Information Technology/ Excel skill / Data analysis
Q.5 See separate Excel document "Part 3 - IT - Excel - Data analysis
20
20
100
