快看！ACCA证书在国内含金量高吗？就业方向有哪些？

正确答案：
(b) Principal additional information
■ Any service contracts with the directors or other members of the management team (e.g. the quantity surveyor). These
may contain ‘exit’ or other settlement terms in the event that their services are no longer required after a takeover/buyout.
■ Prior period financial statements (to 30 June 2005) disclosing significant accounting policies and the key assumptions
concerning the future (and other key sources of estimation uncertainty) that have a significant risk of causing a material
adjustment to the carrying amounts of assets and liabilities in the year to 30 June 2006.
For example, concerning:
– the outcome on the Sarwar dispute;
– estimates for guarantees/claims for rectification;
– assumptions made in estimating costs to completion (e.g. for increases in costs of materials or labour).
Tutorial note: Under IAS 1 ‘Presentation of Financial Statements’ the judgements made by management that have the
most significant effect on amounts recognised in financial statements (other than those involving estimations) should
also be disclosed.
■ The most recent management accounts and cash flow forecasts to assess the quality of management information being
used for decision-making and control. In particular, in providing Robson with the means of keeping its cash flows within
its overdraft limit.
Tutorial note: Note that Prescott has substantial cash resources. Therefore Robson’s lack of finance might be a reason
why its management are interested in selling the business.
■ A copy of the signed bank agreement for the overdraft facility (and any other agreements with finance providers). Any
breaches in debt covenants might result in penalties of contingent liabilities that Prescott would have to bear if it acquired
Robson.
■ The standard terms of contracts with customers for construction works. In particular, for:
– guarantees given (e.g. for rectification under warranty);
– penalty clauses (e.g. in the event of overruns or non-completion);
– disclaimers (including conditions for invoking force majeure).
Prescott will want to make some allowance for settlement of liabilities arising on contracts already completed/in-progress
when offering a price for Robson.
Tutorial note: A takeover might excuse Robson from fulfilling a contract.
■ Legal/correspondence files dealing with matters such as the claims of the residents of the housing development and
Robson’s claim against Sarwar Services Co. Also, fee notes rendered by Robson’s legal advisers showing the costs
incurred on matters referred to them.
■ Robson’s insurer’s ‘cover note’ to determine Robson’s exposure to claims for rectification work, damages, injuries to
employees, etc.
■ The quantity surveyor’s working papers for the last quarterly count (presumably at 31 March 2006) and the latest
available rolling budgets. Particular attention should be given to loss-making contracts and contracts that have not been
started. (Prescott might seek to settle rather than fulfil them.) The pattern of taking profits on contracts will be of
interest, for example, to determine the accuracy of the quantity surveyor’s estimates.
Tutorial note: A regular pattern of taking too much profit too soon might be due to underestimating costs to completion
or be evidence of cost overruns due to rectification.
■ Type and frequency of constructions undertaken. Prescott is interested in the building and refurbishment of hotels and
leisure facilities. Robson’s experience in this area may not be extensive.
■ Non-current asset register showing location of plant and equipment so that some test checking on physical existence
might be undertaken (if an agreed-upon-procedure).

正确答案：
(b) Jones and Cousin, a public quoted company
Annual Report 2006
Management Commentary
(i) Introduction
Jones and Cousin is a global company engaged in the medical products sector. This report provides information to assist
the assessment of strategies adopted by the company and the future potential of those strategies.
Principal risks and relationships
Trends:
Expenditure in the medical sector is often controlled by governments and is, therefore, affected by government policy.
Thus the Group is largely dependent on governments providing funds for health care. Product innovation and the
resultant increase in competition could lead to downward pressure on the price of goods and a decline in the Group’s
market share which could affect the operational results and hinder the growth of the Group.
Currency fluctuations:
The Group reports its results using the dollar as its functional currency. As there is only five per cent of the business in
the country of incorporation, fluctuations in exchange rates may have a material effect on the Group. If the exchange
rate of the dollar strengthens against the Dinar and Euro, then group turnover and operating profit would be lower on
translation into dollars. As the manufacturing base is worldwide, the finished products when sold to the Group’s selling
operations could expose the Group to fluctuations in exchange rates.
Product liability claims and loss of reputation:
Although the products are not inherently high risk, there is a possibility of malfunction which could entail risk of product
liability claims or recalls on the product. Both these events could be costly and harmful to the Group’s reputation which
is dependent upon product safety. Any product liability claims or product recalls would have a negative effect on cash
flow and profit, and are likely to adversely affect sales of the product.
Highly Competitive markets:
The principal business units compete across many diverse geographic and product markets. Technical advances and
product innovations by competitors could adversely affect the operating results. Some of the Group’s competitors could
have greater resources and may be able to sell products on more competitive terms. If the Group were to lose market
share or have lower than expected sales growth, there could be an adverse impact on the Group’s share price and future
strategies.
Patents and Products;
The Group protects its intellectual rights in its products and opposes third parties where there is a conflict with the
group’s patents. The Group may itself be subject to patent infringement claims. If the Group failed to protect its position,
its competitive position could suffer and operating results be harmed. Similarly if any claims are successful then damages
may have to be paid, or non patent infringing products developed, both of which would adversely affect results.
Product innovations will occur constantly in the sector and, therefore, the Group has to continually develop products to
satisfy consumer needs and to provide cost and other advantages. Not all products will be brought to the market for
several reasons, including failure to receive regulatory approval or infringement of patents. Thus there is a significant
cost implication in the research and development of products. However, if new products do not remain competitive with
competitors’ products, then Group sales revenue could decline.
Relationships:
The Group has developed a set of corporate social responsibility principles which is the responsibility of the Board of
Directors, and the Managing Director in particular. The Group contributes to the treatment and recovery of patients within
its product range by providing solutions to health care needs. Although having a relatively minor impact on the
environment compared to some companies, any obsolete products are disposed of in an environmentally friendly way
so as not to potentially compromise the health of its customers. Reusable materials are used in the manufacture of
products.
The Group fosters ethical relationships with its suppliers and encourages them to share the same social and
environmental standards. In this way a long term relationship is expected to be developed with suppliers.
The Group’s employment policies are based on equality of opportunity and the performance standards and goals are
communicated to the employees. Jones and Cousin is committed to the provision of continuous training and
development and open communication with its employees. Additionally the group encourages its subsidiaries to reinvestprofits in local educational projects.

正确答案：
(b) The contributions payable by Savage to the trustees will not count as an asset for the purposes of the valuation of the fund.
IAS19 (paragraph 103) states that plan assets should not include unpaid contributions due from the reporting entity to the
fund. Thus in the financial statements of Savage the contributions would be shown as an amount payable to the trustees
and there may be legal repercussions if the amount is not paid within a short period of time. Following the introduction of
changes to a defined benefit plan, a company should recognise immediately past service costs where the benefit has vested.
In the case where the benefits have not vested then the past service costs will be recognised as an expense over the averageperiod until the benefits vest. The company will therefore recognise $125 million at 1 November 2004.

正确答案：

 

However, an exemption from corporation tax exists for any gain arising when a trading company (or member of a trading
group) sells the whole or any part of a substantial shareholding in another trading company.
A substantial shareholding is one where the investing company holds 10% of the ordinary share capital and is beneficially
entitled to at least 10% of the
(i) profits available for distribution to equity holders and
(ii) assets of the company available for distribution to equity holders on a winding up.
In meeting the 10% test, shares owned by a chargeable gains group may be amalgamated. The 10% test must have been
met for a continuous 12 month period during the 2 years preceding the disposal.
The companies making the disposals must have been trading companies (or members of a trading group) throughout the
12 month period, as well as at the date of disposal. In addition, they must also be trading companies (or members of a trading
group) immediately after the disposal.
The exemption is given automatically, and acts to deny losses as well as eliminate gains.
While Alantech Ltd has owned its holding in Mobile Ltd for 33 months, its ownership of the Boron holding has only lasted
for 10 months (at 1 June 2005) since Boron was acquired on 1 July 2004. Selling the shares in June 2005 will fail the
12 month test, and the gain will become chargeable.
It would be better for the companies to wait for a further month until July 2005 before selling the amalgamated shareholding.
By doing so, they will both be able to take advantage of the substantial shareholdings relief, thereby saving tax of ￡29,625
assuming a corporation tax rate of 19%.