2020年ACCA考试会计师与企业财经词汇汇编(16)

正确答案：
(b) Growth may be measured in a number of ways which are as follows:
Cash flow
This is a very important measure of growth as it ultimately determines the amount of funds available for re-investment by any
business.
Sales revenue
Growth in sales revenues generated is only of real value to investors if it precipitates growth in profits.
Profitability
There are many measures relating to profit which include sales margin, earnings before interest, taxation, depreciation and
amortisation (EBITDA) and earnings per share. More sophisticated measures such as return on capital employed and residual
income consider the size of the investment relative to the level of profits earned. In general terms, measures of profitability
are only meaningful if they are used as a basis for comparisons over time or in conjunction with other measures of
performance. Growth rate in profitability are useful when compared with other companies and also with other industries.
Return on investment
A growing return upon invested capital suggests that capital is being used more and more productively. Indicators of a growing
return would be measured by reference to dividend payment and capital growth.
Market share
Growth in market share is generally seen as positive as it can generate economies of scale.
Number of products/service offerings
Growth is only regarded as useful if products and services are profitable.
Number of employees
Measures of productivity such as value added per employee and profit per employee are often used by shareholders in
assessing growth. Very often an increased headcount is a measure of success in circumstances where more people are
needed in order to deliver a service to a required standard. However it is incumbent on management to ensure that all
employees are utilised in an effective manner.
It is a widely held belief that growth requires profits and that growth produces profits. Profits are essential in order to prevent
a company which has achieved growth from becoming a target for a take-over or in a worse case scenario goes into
liquidation. Hence it is fundamental that a business is profitable throughout its existence. Growth accompanied by growth in
profits is also likely to aid the long-term survival of an organisation. CSG operates in Swingland which experiences fluctuations
in its economic climate and in this respect the exploitation of profitable growth opportunities will help CSG to survive at the
expense of its competitors who do not exploit such opportunities.
Note: Alternative relevant discussion and examples would be accepted.

正确答案：

 

正确答案：B
430,000 x 5% = 21,500 – 18,000 + 28,000

正确答案：
(ii) Corporate hospitality
A partner in an audit firm is obviously in a position to influence the conduct and outcome of an audit. Therefore a
partner being on ‘too friendly’ terms with an audit client creates a familiarity threat. Other members of the audit team
may not exert as much influence on the audit.
A self-interest threat may also be perceived (e.g. if corporate hospitality is provided to keep a prestigious client).
There is no absolute prohibition against corporate hospitality provided:
■ the value attached to such hospitality is ‘insignificant’; and
■ the ‘frequency, nature and cost’ of the hospitality is reasonable.
Thus, flying the directors of an audit client for weekends away could be seen as significant. Similarly, entertaining an
audit client on a regular basis could be seen as unacceptable.
Partners and staff of Boleyn will need to be objective in their assessments of the significance or reasonableness of the
hospitality offered. (Would ‘a reasonable and informed third party’ conclude that the hospitality will or is likely to be
seen to impair your objectivity?)
If they have any doubts they should discuss the matter in the first instance with the audit engagement partner, who
should refer the matter to the ethics partner if in doubt.