大连学渣求问：ACCA f3答案是80000-...

正确答案：
(iii) There are several disadvantages to incorporation relief as follows:
1. The requirement to transfer all business assets to the company means that it will not be possible to leave behind
certain assets, such as the property. This might lead to a double tax charge (sale of the property, then extraction
of sale proceeds) at a future date.
2. Taper relief is lost on the transfer of the business. This means that any disposal of chargeable business assets (the
shares) within two years of the incorporation will lead to a higher chargeable gain, as the full rate of business asset
taper relief will not be available.
3. The relief does not eliminate the tax charge, it merely defers the payment of tax until some future event. The
deferred gain will become taxable when Sharon sells her shares in the company.
Gift relief could be used instead of incorporation relief. The assets would be gifted to the company for no consideration,
with the base cost of the assets to the company being reduced by the deferred gain arising. Unlike incorporation relief,
gift relief applies to individual assets used in a trade and not to an entire business. This is particularly useful if the
transferor wishes to retain some assets, such as property outside the company, as not all assets have to be transferred.
Note: If the business was non-trading, incorporation relief would still be available, but gift relief would not. However,
this restriction should not apply to Sharon and gift relief remains an option in this case.

正确答案：D
630,000 – 4,320 – 440

正确答案：
5 (a) Objectives may be viewed as profit and market share in a profit-oriented organisation or the achievement of ‘value for money’
in a not-for-profit organisation (NFP). The overall objective of an organisation may be expressed in the wording of its mission
statement.
In order to achieve the objectives, long-term strategies will be required. In a profit-oriented organisation, this may incorporate
the evaluation of strategies that might include price reductions, product design changes, advertising campaign, product mix
change and methods changes, embracing change techniques such as BPR, JIT, TQM and ABM. In NFP situations, strategies
might address the need to achieve ‘economy’ through reduction in average cost per unit; ‘efficiency’ through maximisation of
the input:output ratio, whilst checking on ‘effectiveness’ through monitoring whether the objectives are achieved.
The annual budget will quantify the short-term results anticipated of the strategies. These results may be seen as the level of
financial performance and competitiveness achieved. This quantification may be compared with previous years and with
actual performance on an ongoing basis. Financial performance may be measured in terms of profit, liquidity, capital structure
and a range of ratios. Competitiveness may be measured by sales growth, market share and the number of new customers.
In a not-for-profit organisation, the results may be monitored by checking on the effectiveness of actions aimed at the
achievement of the objectives. For instance, the effectiveness of a University may be measured by the number of degrees
awarded and the grades achieved. The level of student ‘drop-outs’ each year may also be seen as a measure of ineffectiveness.
The determinants of results may consist of a number of measures. These may include the level of quality, customer
satisfaction, resource utilisation, innovation and flexibility that are achieved. Such determinants may focus on a range of nonfinancial
measures that may be monitored on an ongoing basis, as part of the feedback information in conjunction with
financial data.
A range of business change techniques may be used to enhance performance management.
Techniques may include:
Business process re-engineering (BPR) which involves the examination of business processes with a view to improving the
way in which each is implemented. A major focus may be on the production cycle, but it will also be applicable in areas such
as the accounting department.
Just-in-time (JIT) which requires commitment to the pursuit of ‘excellence’ in all aspects of an organisation.
Total quality management (TQM) which aims for continuous quality improvement in all aspects of the operation of an
organisation.
Activity based management systems (ABM) which focus on activities that are required in an organisation and the cost drivers
for such activities, with a view to identifying and improving activities that add value and eliminating those activities that do
not add value.
Long-term performance management is likely to embrace elements of BPR, JIT, TQM and ABM. All of these will be reflected
in the annual budget on an ongoing basis.