Written Test: Finance Coordinator-JBL/SWS Time: 1 Hour

WORLD VISION SOMALIA

5 th June 2023
Names: Hassan Ibrahim Mohamed
INSTRUCTIONS

Kindly before you start, the questions go through the following instructions
A. Write your three names on the interview paper.

B. Attempt/work on all questions

C. Observe the time indicated on the questionnaire and the 1 hour should be between
the time received and the time submitted. Late submission will not be considered.

D. Since this is an online test, you are advised to desist from referring to materials or
online sites as this will result to automatic disqualification (document is tracked)
E. Put your answers for all questions under each question on this Interview sheet
F. Use MS word to Answer Questions 1-5, Use Excel for questions 6-7
G. Send the answered sheet back to Southern Somalia WV Recruitment Skype as soon
as the 1 hour ends.

………………………………………………………………………………………………………………………………………..

Questions (Part A 15 marks)

1. a). In a nut shell, what is Enterprise Risk Management. 1mk

Ans: is affirm wide strategy to identify and prepare for hazards with company’s finances,
operations and objectives

b). State 4 types of risks you know in an organization 4mks

Ans: the are a) strategic risk b) compliance risk c) and d( Reputational risk

2. In your own words, what is Financial Management? -2mks

Ans: Financial management is the process of planning, organizing,
controlling, and monitoring the financial resources of an entity
3. Delegation. Discus in your owns words - 2mks
Ans: is the devission of labor and decision making responsibility to
an individual that reports to a leader or manager
4. What is a balance sheet? State 5 items of balance sheet? 4mks
Ans: balance sheet is a summary that reports a company’s asset, liability and equity at
a specific period of time
Some the balance sheet items are: Assets. Liability, capital and owners’ equity and it
has further items that are, a) cash or cash equivalent b) marketable securities c)
 prepaid expenses d) Accounts receivable e) inventory and allowance for doubtful
accounts

5. An organization may maintain its books under the cash basis of accounting or accrual
basis

of accounting- what is the difference between the two?? 2mks

Ans: under accrual: revenue is recognized when earned and expenses are recorded when
incurred while Cash basis: revenue is recognized only when the related cash is received or
disbursed.

Questions (Part B 25 marks)

6.Using the below information prepare a detailed budget to your project manager, in excel
presentable to all stakeholders in your organization and donor for Drought response in SOUTH
WEST STATE/JUBALAND for 5 months June - October 2023. Be as creative as possible in
designing your excel budget. Including the summary, detailed budget, Year to date Budget, Year
to date Expenditure, Variances and Cash flow. 10 Mks

Approved Budget - $1,500,000

Cash for beneficiaries 75% 3 tranches

Expenses 10%

Salaries & Benefits 15%

7. Statement of Financial position Question-(15 mks)

The following information relates to transactions that took place in WVS-SWS/J region for the
year ending September 2022.The organization operates an accrual accounting system.

1. Assets without donor restriction - 476,975

2. Cash and Cash Equivalent - 300,000
3. Payables - 180,000
4. Assets with donor restriction - 130,000
5. Property and Equipment - 500,000
6. Debts - 55,000
7. Contributions Receivable - 69,000
8. Other liabilities - 29,000
9. Prepaid Expenses - 1975

The figures are in USD

Required:
Design a Simple statement of financial position as at the end of the financial year2022, capturing
all items correctly.

Ans:

Statement of Financial Position as at September 2022.

WVS-SWS/J region

Assets

Cash 300, 000

Receivables 69000

Assets without donor restriction 476,975

Assets with donor restriction 130,000

Property and Equipment 500,000

Prepaid Expenses 1975

Total Assets 1,476,170

Liabilities

Payables 180,000

Debts 55,000

Other liabilities 29,000

Total Liabilities 264,000

END,

Thansk