Scenario Based Questions

Scenario Based Questions

For The New GCE 0/N Level 7086/7087 Principles Of Accounts Syllabus First Examinable In 2021. “Scenario Based Questions is difficult because it’s so new!” Unchartered Waters – For Who? The problem of SBQs being ‘challenging’ has nothing to do with the students,– they are learning Principles of Accounts only in Sec 3. Everything will be…

For The New GCE 0/N Level 7086/7087 Principles Of Accounts Syllabus First Examinable In 2021.

“Scenario Based Questions is difficult because it’s so new!”

Unchartered Waters – For Who? The problem of SBQs being ‘challenging’ has nothing to do with the students,– they are learning Principles of Accounts only in Sec 3. Everything will be new in the first place. The problem with Scenario Based Question Learning is with teachers and parents who have taken POA whilst they are in school and unable to use the old, route-learning format to teach your child. What used to work for ledgers and statement formats through memorisation doesn’t work any more. Student now need to learn to actually think. With a proper approach, understanding what the examiner is looking out for, SBQ can be a source of uplifting of grades instead of a frustrating one.

There are several definitions of case studies found in the management education. In accounting education literature. Wines, Carnegie, Boyce and Gibson (1994) describe case studies as typically possessing several features, such as issues, the consideration of which require the use of judgement and analytical reasoning skills; the inclusion of real or realistic situations, requiring a consideration of the complexity and ambiguity of the business world; and the existence of more than one possible solution to the case problem.

For the GCE O/N Level Principles of Accounts case – it typically reference a story with a hidden message centred on making a decision or solving a problem. It is a story about a situation that an individual or a group has to resolve.

USE QUESTIONING, PROCESSING, CONNECTING AND REFLECTING TO HELP UNDERSTAND THE ROLES OF ACCOUNTING AND ACCOUNTANTS, AND HOW THEY NEED TO BE ETHICAL IN PREPARING AND USING ACCOUNTING INFORMATION FOR DECISION-MAKING

Caleb Ho, The Accounting Tutor

WHAT IS THE WEIGHTAGE OF SCENARIO BASED QUESTIONS FOR O/N LEVEL PRINCIPLES OF ACCOUNTS?

The scenario based question requires students to make a decision between two possible choices in the context of a fictitious business. Each scenario will include both accounting and non-accounting information that students are expected to use to support their decision. Understanding how much this chapter is worth helps your child allocate the right amount of study time and resources to excel in this segment of the examination. We include in this table the weightage and time guidance for exams

DetailsWeightageDurationMaximum Time Guidance
O LevelsA scenario-based question (7 marks) will be part of one of the three remaining questions.7 marks14 minutes
N LevelsA scenario-based question (5 marks) will be part of one of the three remaining questions.5 marks10 minutes

SAMPLE SCENARIO BASED QUESTION

Marble is a sole proprietor who sells toys. Her supplier is releasing two new toys and Marble is considering which toy she should buy.

Toy AToy B
Cost price per unit$22.60$14.30
Gross profit per unit$9$18.20
Nature of Product Made of recycled materials and certified environmental friendly by National Recycling Council.
Small in size. Easily stored in Marble’s shop.
Educational toy that promotes creativity among children
Bulky and needs additional storage space since Marble does not have enough storage space at her shop.
Best for outdoor play and suits children who love running and outdoor activities.
Improved version of a widely popular toy launched in 2017.
Customers’ preferences Meets the latest safety guidelines based on Singapore Consumer Safety Commission.
Popular among parents who want to promote creativity in their children.
Popular among young children and is promoted by a popular Japanese Anime currently showing on national TV.
Voted “Most Popular” toy in 2020 by a recent survey on Google.

Conclusion

As educators, we are preparing our kids for jobs yet to be created. The real value of education then – is to teach students to think on their feet, deal with ambiguity and make sound decisions based on available, factual evidence. How does the future of the accounting classroom look like? Gone are the decades where there is a fixed right and wrong answers. Decisions have to be viewed with understanding accounting and non-accounting information in context and considering all factors that influence one’s decisions.