河南省想要报考ACCA考试的萌新们，在报考之前你需要了解这些条件

正确答案：
4 JINACK CO
(a) Auditor’s responsibilities for subsequent events
■ Auditors must consider the effect of subsequent events on:
– the financial statements;
– the auditor’s report.
■ Subsequent events are all events occurring after a period end (i.e. reporting date) i.e.:
– events after the balance sheet date (as defined in IAS 10); and
– events after the financial statements have been authorised for issue.
Events occurring up to date of auditor’s report
■ The auditor is responsible for carrying out procedures designed to obtain sufficient appropriate audit evidence that all
events up to the date of the auditor’s report that may require adjustment of, or disclosure in, the financial statements
have been identified.
■ These procedures are in addition to those applied to specific transactions occurring after the period end that provide
audit evidence of period-end account balances (e.g. inventory cut-off and receipts from trade receivables). Such
procedures should ordinarily include:
– reviewing minutes of board/audit committee meetings;
– scrutinising latest interim financial statements/budgets/cash flows, etc;
– making/extending inquiries to legal advisors on litigation matters;
– inquiring of management whether any subsequent events have occurred that might affect the financial statements
(e.g. commitments entered into).
■ When the auditor becomes aware of events that materially affect the financial statements, the auditor must consider
whether they have been properly accounted for and adequately disclosed in the financial statements.
Facts discovered after the date of the auditor’s report but before financial statements are issued
Tutorial note: After the date of the auditor’s report it is management’s responsibility to inform. the auditor of facts which
may affect the financial statements.
■ If the auditor becomes aware of such facts which may materially affect the financial statements, the auditor:
– considers whether the financial statements need amendment;
– discusses the matter with management; and
– takes appropriate action (e.g. audit any amendments to the financial statements and issue a new auditor’s report).
■ If management does not amend the financial statements (where the auditor believes they need to be amended) and the
auditor’s report has not been released to the entity, the auditor should express a qualified opinion or an adverse opinion
(as appropriate).
■ If the auditor’s report has been released to the entity, the auditor must notify those charged with governance not to issue
the financial statements (and the auditor’s report thereon) to third parties.
Tutorial note: The auditor would seek legal advice if the financial statements and auditor’s report were subsequently issued.
Facts discovered after the financial statements have been issued
■ The auditor has no obligation to make any inquiry regarding financial statements that have been issued.
■ However, if the auditor becomes aware of a fact which existed at the date of the auditor’s report and which, if known
at that date, may have caused the auditor’s report to be modified, the auditor should:
– consider whether the financial statements need revision;
– discuss the matter with management; and
– take appropriate action (e.g. issuing a new report on revised financial statements).

正确答案：
(c) Target costing should be viewed as an integral part of a strategic profit management system. The initial consideration in target
costing is the determination of an estimate of the selling price for a new product which will enable a firm to capture its required
share of the market. In this particular example, Superstores plc, which on the face of it looks a powerful commercial
organisation, wishes to apply a 35% mark-up on the purchase price of each cake from GWCC. Since Superstores plc has
already decided on a launch price of ￡20·25 then it follows that the maximum selling price that can be charged by GWCC
is (100/135) x ￡20·25 which is ￡15·00.
This is clearly a situation which lends itself to the application of target costing/pricing techniques as in essence GWCC can
see the extent to which they fall short of the required level of return with regard to a contract with Superstores plc which ends
after twelve months. Thus it is necessary to reduce the total costs by ￡556,029 to this figure in order to achieve the desired
level of profit, having regard to the rate of return required on new capital investment. The deduction of required profit from
the proposed selling price will produce a target price that must be met in order to ensure that the desired rate of return is
obtained. Thus the main theme that underpins target costing can be seen to be ‘what should a product cost in order to achieve
the desired level of return’.
Target costing will necessitate comparison of current estimated cost levels against the target level which must be achieved if
the desired levels of profitability, and hence return on investment, are to be achieved. Thus where a gap exists between the
current estimated cost levels and the target cost, it is essential that this gap be closed.
The Directors of GWCC plc should be aware of the fact that it is far easier to ‘design out’ cost during the pre-production phase
than to ‘control out’ cost during the production phase. Thus cost reduction at this stage of a product’s life cycle is of critical
significance to business success.
A number of techniques may be employed in order to help in the achievement and maintenance of the desired level of target
cost. Attention should be focussed upon the identification of value added and non-value added activities with the aim of the
elimination of the latter. The product should be developed in an atmosphere of ‘continuous improvement’. In this regard, total
quality techniques such as the use of Quality circles may be used in attempting to find ways of achieving reductions in product
cost.
Value engineering techniques can be used to evaluate necessary product features such as the quality of materials used. It is
essential that a collaborative approach is taken by the management of GWCC and that all interested parties such as suppliers
and customers are closely involved in order to engineer product enhancements at reduced cost.
The degree of success that will be achieved by GWCC via the application of target costing principles will be very much
dependent on the extent of ‘flexibility’ in variable costs. Also the accuracy of information gathered by GWCC will assume
critical importance because the use of inaccurate information will produce calculated ‘cost gaps’ which are meaningless and
render the application of target costing principles of little value.

正确答案：
(d) (i) Mandatory and voluntary disclosures
Mandatory disclosures
These are components of the annual report mandated by law, regulation or accounting standard.
Examples include (in most jurisdictions) statement of comprehensive income (income or profit and loss statement),
statement of financial position (balance sheet), cash flow statement, statement of changes in equity, operating segmental
information, auditors’ report, corporate governance disclosure such as remuneration report and some items in the
directors’ report (e.g. summary of operating position). In the UK, the business review is compulsory.
Voluntary disclosures
These are components of the annual report not mandated in law or regulation but disclosed nevertheless. They are
typically mainly narrative rather than numerical in nature.
Examples include (in most jurisdictions) risk information, operating review, social and environmental information, and
the chief executive’s review.

正确答案：C