重磅消息：听说甘肃省ACCA考试有免考？你得有这些条件哦

正确答案：
(b) An illustration of the features detailed above, framed in the context of a University as an organisation in the not-for-profit sector
might be as follows:
The Overall objective might well be stated in the mission statement of a University. An example of such a mission statement
might be as follows:
‘To provide a quality educational environment in a range of undergraduate and post-graduate disciplines and a quality
educational focus for students and the business community.’
More specifically, objectives may be seen as the achievement of ‘value for money’ thereby ensuring effectiveness in areas such
as:
– The provision of high added value to students;
– The establishment of a reputation for recognised expertise in specific areas of research work within the wider community;
and
– The provision of a high quality service to industry and commerce.
Strategies may focus on aspects such as:
– The recruitment and retention of high quality academic staff;
– The development of IT equipment and skills within the institution;
– The mentoring of students in order to ensure high added value and low drop-out rates in intermediate years of study;
and
– The close liaison with employers as to qualities in graduate/post-graduate employees that they will value highly.
The determinants used to measure the results of strategies might include:
– Competitiveness – cost per graduate compared to other institutions; growth in student numbers; number of staff holding
a PhD qualification;
– Financial performance – average cost per graduate; income generation from consultancy work;
– Quality – range of awards (percentages of 1st class degrees); employer responses; measures of quality of delivery of
education, advice to students, etc;
– Flexibility – variable entry and exit points to courses; modular structure; the variety of full-time, part-time and distance
learning modes;
– Resource Utilisation – staff:student ratios; quotas met by each course; accommodation filled;
– Innovation – latest IT provision in linking lecture theatres to information databases; increased provision of flexilearning/
mixed mode course provision.
The application of business change techniques might include the following:
BPR with a focus on IT developments, flexible-learning or mixed mode course provision.
JIT with a focus on moves towards student-centred uptake of educational opportunities e.g. via intranet availability of lecture
and tutorial material linked to more flexible access to staff rather than a ‘push’ system of pre-structured times of
lectures/tutorials.
TQM with a focus on moves to improve quality in all aspects of the learning environment including delivery of lectures, access
to staff and pastoral care issues.
ABM with a focus on activities on a per student basis (both planned and actual) with a view to eliminating activities that do
not add value e.g. cost per lecture per student.

正确答案：
(a) Under IAS18 ‘Revenue’, revenue on a service contract is recognised when the outcome of the transaction can be measured
reliably. For revenue arising from the rendering of services, provided that all of the following criteria are met, revenue should
be recognised by reference to the stage of completion of the transaction at the balance sheet date (the percentage-ofcompletion
method) (IAS18 para 20):
(a) the amount of revenue can be measured reliably;
(b) it is probable that the economic benefits will flow to the seller;
(c) the stage of completion at the balance sheet date can be measured reliably; and
(d) the costs incurred, or to be incurred, in respect of the transaction can be measured reliably.
When the above criteria are not met, revenue arising from the rendering of services should be recognised only to the extent
of the expenses recognised that are recoverable. Because the only revenue which can be measured reliably is the fee for
making the film ($5 million), this should therefore be recognised as revenue in the year to 31 May 2007 and matched against
the cost of the film of $4 million. Only when the television company shows the film should any further amounts of $100,000
be recognised as there is an outstanding ‘performance’ condition in the form. of the editing that needs to take place before the
television company will broadcast the film. The costs of the film should not be carried forward and matched against
anticipated future income unless they can be deemed to be an intangible asset under IAS 38 ‘Intangible Assets’. Additionally,
when assessing revenue to be recognised in future years, the costs of the editing and Router’s liability for these costs should
be assessed.

正确答案：

You will be aware of the importance of accurate resource valuation to Worldwide Minerals (WM). Unfortunately, I have to
inform. you that the reserve of mallerite, one of our key minerals in a new area of exploration, was found to have been
overestimated after the purchase of a mine. It has been suggested that this information may have an effect on shareholder
value and so I thought it appropriate to write to inform. you of how the board intends to respond to the situation.
In particular, I would like to address two issues. It has been suggested that the overestimation arose because of issues with
the internal control systems at WM. I would firstly like to reassure you of the importance that your board places on sound
internal control systems and then I would like to highlight improvements to internal controls that we shall be implementing
to ensure that the problem should not recur.
(i) Importance of internal control
Internal control systems are essential in all public companies and Worldwide Minerals (WM) is no exception. If anything,
WM’s strategic position makes internal control even more important, operating as it does in many international situations
and dealing with minerals that must be guaranteed in terms of volume, grade and quality. Accordingly, your board
recognises that internal control underpins investor confidence. Investors have traditionally trusted WM’s management
because they have assumed it capable of managing its internal operations. This has, specifically, meant becoming aware
of and controlling known risks. Risks would not be known about and managed without adequate internal control
systems. Internal control, furthermore, helps to manage quality throughout the organisation and it provides
management with information on internal operations and compliance. These features are important in ensuring quality
at all stages in the WM value chain from the extraction of minerals to the delivery of product to our customers. Linked
to this is the importance of internal control in helping to expose and improve underperforming internal operations.
Finally, internal control systems are essential in providing information for internal and external reporting upon which, in
turn, investor confidence rests.
(ii) Proposals to improve internal systems at WM
As you may be aware, mineral estimation and measurement can be problematic, particularly in some regions. Indeed,
there are several factors that can lead to under or overestimation of reserves valuations as a result of geological survey
techniques and regional cultural/social factors. In the case of mallerite, however, the issues that have been brought to
the board’s attention are matters of internal control and it is to these that I would now like to turn.
In first instance, it is clear from the fact that the overestimate was made that we will need to audit geological reports at
an appropriate (and probably lower) level in the organisation in future.
Once a claim has been made about a given mineral resource level, especially one upon which investor returns might
depend, appropriate systems will be instituted to ask for and obtain evidence that such reserves have been correctly and
accurately quantified.
We will recognise that single and verbal source reports of reserve quantities may not necessarily be accurate. This was
one of the apparent causes of the overestimation of mallerite. A system of auditing actual reserves rather than relying
on verbal evidence will rectify this.
The purchase of any going concern business, such as the mallerite mine, is subject to due diligence. WM will be
examining its procedures in this area to ensure that they are fit for purpose in the way that they may not have been in
respect of the purchase of the mallerite mine. I will be taking all appropriate steps to ensure that all of these internal
control issues can be addressed in future.
Thank you for your continued support of Worldwide Minerals and I hope the foregoing goes some way to reassure you
that the company places the highest value on its investors and their loyalty.
Yours faithfully,
Tim Blake
Chairman