网友您好, 请在下方输入框内输入要搜索的题目:

题目内容 (请给出正确答案)

1 Geno Vesa Farm (GVF), a limited liability company, is a cheese manufacturer. Its principal activity is the production

of a traditional ‘Farmhouse’ cheese that is retailed around the world to exclusive shops, through mail order and web

sales. Other activities include the sale of locally produced foods through a farm shop and cheese-making

demonstrations and tours.

The farm’s herd of 700 goats is used primarily for the production of milk. Kids (i.e. goat offspring), which are a

secondary product, are selected for herd replacement or otherwise sold. Animals held for sale are not usually retained

beyond the time they reach optimal size or weight because their value usually does not increase thereafter.

There are two main variations of the traditional farmhouse cheese; ‘Rabida Red’ and ‘Bachas Blue’. The red cheese

is coloured using Innittu, which is extracted from berries found only in South American rain forests. The cost of Innittu

has risen sharply over the last year as the collection of berries by local village workers has come under the scrutiny

of an international action group. The group is lobbying the South American government to ban the export of Innittu,

claiming that the workers are being exploited and that sustaining the forest is seriously under threat.

Demand for Bachas Blue, which is made from unpasteurised milk, fell considerably in 2003 following the publication

of a research report that suggested a link between unpasteurised milk products and a skin disorder. The financial

statements for the year ended 30 September 2004 recognised a material impairment loss attributable to the

equipment used exclusively for the manufacture of Bachas Blue. However, as the adverse publicity is gradually being

forgotten, sales of Bachas Blue are now showing a steady increase and are currently expected to return to their former

level by the end of September 2005.

Cheese is matured to three strengths – mild, medium and strong – depending on the period of time it is left to ripen,

which is six, 12 and 18 months respectively. When produced, the cheese is sold to a financial institution, Abingdon

Bank, at cost. Under the terms of sale, GVF has the option to buy the cheese on its maturity at cost plus 7% for

every six months which has elapsed.

All cheese is stored to maturity on wooden boards in GVF’s cool and airy sheds. However, recently enacted health

and safety legislation requires that the wooden boards be replaced with stainless steel shelves with effect from 1 July

2005. The management of GVF has petitioned the government health department that to comply with the legislation

would interfere with the maturing process and the production of medium and strong cheeses would have to cease.

In 2003, GVF applied for and received a substantial regional development grant for the promotion of tourism in the

area. GVF’s management has deferred its plan to convert a disused barn into holiday accommodation from 2004

until at least 2006.

Required:

(a) Identify and explain the principal audit risks to be considered when planning the final audit of GVF for the

year ending 30 September 2005. (14 marks)


参考答案

更多 “ 1 Geno Vesa Farm (GVF), a limited liability company, is a cheese manufacturer. Its principal activity is the productionof a traditional ‘Farmhouse’ cheese that is retailed around the world to exclusive shops, through mail order and websales. Other activities include the sale of locally produced foods through a farm shop and cheese-makingdemonstrations and tours.The farm’s herd of 700 goats is used primarily for the production of milk. Kids (i.e. goat offspring), which are asecondary product, are selected for herd replacement or otherwise sold. Animals held for sale are not usually retainedbeyond the time they reach optimal size or weight because their value usually does not increase thereafter.There are two main variations of the traditional farmhouse cheese; ‘Rabida Red’ and ‘Bachas Blue’. The red cheeseis coloured using Innittu, which is extracted from berries found only in South American rain forests. The cost of Innittuhas risen sharply over the last year as the collection of berries by local village workers has come under the scrutinyof an international action group. The group is lobbying the South American government to ban the export of Innittu,claiming that the workers are being exploited and that sustaining the forest is seriously under threat.Demand for Bachas Blue, which is made from unpasteurised milk, fell considerably in 2003 following the publicationof a research report that suggested a link between unpasteurised milk products and a skin disorder. The financialstatements for the year ended 30 September 2004 recognised a material impairment loss attributable to theequipment used exclusively for the manufacture of Bachas Blue. However, as the adverse publicity is gradually beingforgotten, sales of Bachas Blue are now showing a steady increase and are currently expected to return to their formerlevel by the end of September 2005.Cheese is matured to three strengths – mild, medium and strong – depending on the period of time it is left to ripen,which is six, 12 and 18 months respectively. When produced, the cheese is sold to a financial institution, AbingdonBank, at cost. Under the terms of sale, GVF has the option to buy the cheese on its maturity at cost plus 7% forevery six months which has elapsed.All cheese is stored to maturity on wooden boards in GVF’s cool and airy sheds. However, recently enacted healthand safety legislation requires that the wooden boards be replaced with stainless steel shelves with effect from 1 July2005. The management of GVF has petitioned the government health department that to comply with the legislationwould interfere with the maturing process and the production of medium and strong cheeses would have to cease.In 2003, GVF applied for and received a substantial regional development grant for the promotion of tourism in thearea. GVF’s management has deferred its plan to convert a disused barn into holiday accommodation from 2004until at least 2006.Required:(a) Identify and explain the principal audit risks to be considered when planning the final audit of GVF for theyear ending 30 September 2005. (14 marks) ” 相关考题
考题 (ii) Assuming the relief in (i) is available, advise Sharon on the maximum amount of cash she could receiveon incorporation, without triggering a capital gains tax (CGT) liability. (3 marks)

考题 (iii) cheese. (4 marks)

考题 package com.company.application;public class MainClass{public static void main(String[]args){}}And Main Class exists in the/apps/com/company/application directory.Assume the CLASSPATH environment variable is set to.”(currentdirectory).Which two java commands entered at the command line will run MainClass()A.java MainClass if run from the/apps directoryB.javacom.company.application.MainClass if run from the/apps directoryC.java-classpath/appscom.company.application.MainClass if run fro many directoryD.java-classpath.MainClass if run fromt he/apps/com/company/application directoryE.java-classpath/apps/com/company/application:.MainClass if run from the/apps directoryF.javacom.company.application.MainClassifrunfromthe/apps/com/company/application directory

考题 packagecom.company.application;publicclassMainClass{publicstaticvoidmain(String[]args){}}AndMainClassexistsinthe/apps/com/company/applicationdirectory.AssumetheCLASSPATHenvironmentvariableissetto.(currentdirectory).WhichtwojavacommandsenteredatthecommandlinewillrunMainClass?()A.javaMainClassifrunfromthe/appsdirectoryB.javacom.company.application.MainClassifrunfromthe/appsdirectoryC.java-classpath/appscom.company.application.MainClassifrunfromanydirectoryD.java-classpath.MainClassifrunfromthe/apps/com/company/applicationdirectoryE.java-classpath/apps/com/company/application:.MainClassifrunfromthe/appsdirectoryF.javacom.company.application.MainClassifrunfromthe/apps/com/company/applicationdirectory

考题 Given:And MainClass exists in the /apps/com/company/application directory. Assume the CLASSPATHenvironment variable is set to . (current directory). Which two java commands entered at the command line will run MainClass?()A.java MainClass if run from the /apps directoryB.java com.company.application.MainClass if run from the /apps directoryC.java -classpath /apps com.company.application.MainClass if run from any directoryD.java -classpath . MainClass if run from the /apps/com/company/application directoryE.java -classpath /apps/com/company/application:. MainClass if run from the /apps directoryF.java com.company.application.MainClass if run from the /apps/com/company/application directory

考题 中国ITS的特点有() A、适合国情的ITS技术发展模式B、ITS与基础设施同步发展C、ITS的学习和创新特点D、不分地区和阶段的发展特点

考题 Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual framework for financial reporting.Which of the following accounting treatments correctly applies the principle of faithful representation?A.Reporting a transaction based on its legal status rather than its economic substanceB.Excluding a subsidiary from consolidation because its activities are not compatible with those of the rest of the groupC.Recording the whole of the net proceeds from the issue of a loan note which is potentially convertible to equity shares as debt (liability)D.Allocating part of the sales proceeds of a motor vehicle to interest received even though it was sold with 0% (interest free) finance

考题 真核生物ITS序列由ITS1和ITS2两部分组成。

考题 中药材DNA条形码分子鉴定方法中对药用植物鉴定效率最高的序列为A.ITS2B.ITS1C.ITSD.psbA-trnH

考题 中药材DNA条形码分子鉴定方法中对药用植物鉴定效率最高的序列为A.ITSB.ITS1C.ITS2D.psbA-trnH