陕西省考生：ACCA国际会计师报考条件中,具有高等专科以上学校毕业学历是什么意思?

正确答案：
(c) Companies can give the impression that they are generating more cash than they are, by manipulating cash flow. The way
in which acquisitions, loans and, as in this case, the sale of assets, is shown in the statement of cash flows, can change the
nature of operating cash flow and hence the impression given by the financial statements. The classification of cash flows
can give useful information to users and operating cash flow is a key figure. The role of ethics in the training and professional
lives of accountants is extremely important. Decision-makers expect the financial statements to be true and fair and fairly
represent the underlying transactions.
There is a fine line between deliberate misrepresentation and acceptable presentation of information. Pressures on
management can result in the misrepresentation of information. Financial statements must comply with International
Financial Reporting Standards (IFRS), the Framework and local legislation. Transparency, and full and accurate disclosure is
important if the financial statements are not to be misleading. Accountants must possess a high degree of professional
integrity and the profession’s reputation depends upon it. Ethics describe a set of moral principles taken as a reference point.
These principles are outside the technical and practical application of accounting and require judgement in their application.
Professional accountancy bodies set out ethical guidelines within which their members operate covering standards of
behaviour, and acceptable practice. These regulations are supported by a number of codes, for example, on corporate
governance which assist accountants in making ethical decisions. The accountant in Warrburt has a responsibility not to mask
the true nature of the statement of cash flow. Showing the sale of assets as an operating cash flow would be misleading if
the nature of the transaction was masked. Users of financial statements would not expect its inclusion in this heading and
could be misled. The potential misrepresentation is unacceptable. The accountant should try and persuade the directors to
follow acceptable accounting principles and comply with accounting standards. There are implications for the truth and
fairness of the financial statements and the accountant should consider his position if the directors insist on the adjustments
by pointing the inaccuracies out to the auditors.

正确答案：
(a) Principal audit risks
Industry
‘Farming’ is an inherently risky business activity – being subject to conditions (e.g. disease, weather) outside management’s
control. In some jurisdictions, where the industry is highly regulated, compliance risk may be high.
The risks of mail order retailing ‘exclusive’ products are higher (than for ‘essential’ products, say) as demand fluctuations are
more dramatic (e.g. in times of recession). However, the Internet has provided GVF with a global customer base.
The planned audit approach should be risk-based combined with a systems approach to (say) controls in the revenue cycle.
Goat herd
The goat herd will consist of:
■ mature goats held for use in the production of milk and kids which are held for replacement purposes (i.e. of the nature
of non-current tangible assets); and
■ kids which are to be sold (i.e. of the nature of inventory).
Tutorial note: IAS 41 is not an examinable document at 2.5 and candidates are not expected to be familiar with its
requirements. However, those candidates showing an awareness that biological assets are excluded from the scope of
IAS 16 because they are covered by IAS 41 and answered accordingly were not penalised but awarded equivalent marks.
Therefore, the number of animals in each category must be accurately ascertained to determine:
■ the balance sheet carrying amounts analysed between current and non-current assets; and
■ the charge to the income statement (e.g. for depreciation (IAS 16) and fair value adjustments (IAS 41)).
There is a risk that the carrying amount of the production animals will be misstated if, for example:
■ useful lives/depreciation rates are unreasonable;
■ estimates of residual values are not kept under review;
■ they are impaired.
Tutorial note: Under IAS 41 animals raised during the year should be recognised initially and at each balance sheet date
at fair value less estimated point-of-sale costs. There is therefore a risk of misstatement if fair value cannot be measured
reliabiy (e.g. if market-determined prices are not available). However, this seems unlikely.
Kids will be understated in the balance sheet if they are not recorded on birth (i.e. their existence needs to be recorded in
order that a value be assigned to them).
The net realisable value of animals held for sale may fall below cost if they are not sold soon after reaching optimal size and
weight.
The cost of goats is likely to be subjective. For example, the cost of producing a mature goat from a kid might include direct
costs (e.g. vetinary bills and cost of feed) and attributable overheads (e.g. sheltering). Care must be taken not to carry the
goat herd at more than the higher of value in use and fair value less costs to sell (IAS 36 Revised).
Unrecorded revenue
Raised (bred) animals are not purchased and, in the absence of documentation supporting their origination, could be sold for
cash (and the revenue unrecorded).
Although the controls over retailing around the world are likely to be strong, there are other sources of income – the shop and
other activities at the farm. Although revenue from these sundry sources may not be material, there is a risk that it could go
unrecorded due to lack of effective controls.
‘Rabida Red’
The cost of an ingredient which is essential to the manufacturing process has increased significantly. If the cost is passed on
to the customers, demand may fall (increasing going concern risk).
Supplies of the ingredient, Innittu, may be restricted – further increasing going concern risk.
Any disclosure of GVF’s socio-environmental policies (e.g. in other information presented with the audited financial
statements), if any, should be scrutinised to ensure that it does not mislead the reader and/or undermine the credibility of the
financial statements.
‘Bachas Blue’
If ‘Bachas Blue’ has been specifically cited as a cause of a skin disorder then GVF could face contingent liabilities for pending
litigation. However, it is more likely that the fall in demand has threatened GVF’s going concern. As the fall in demand has
not been permanent, this threat has been removed for the time being.
The impairment loss previously recognised in respect of the equipment used exclusively in the manufacture of Bachas Blue
should be reversed if there has been a change in the estimates used to determine their recoverable amount (IAS 36
‘Impairment of Assets’).
The recoverable amount would have been based on value in use (since net selling price would not have been applicable).
GVF’s management will have to provide evidence to support their best estimates of future cash flows for the recalculation of
value in use at 30 September 2005.
Maturing cheese
The substance of the sale and repurchase of cheese is that of a loan secured on the inventory. Therefore revenue should not
be recognised on ‘sale’ to Abingdon Bank. The principal terms of the secured borrowings should be disclosed, including the
carrying amount of the inventory to which it applies.
Borrowing costs should all be recognised as an expense in the period unless it is GVF’s policy to capitalise them (the allowed
alternative treatment under IAS 23 ‘Borrowing Costs’). Since the cost of inventories should include all costs incurred in
bringing them to their present location and condition (of maturity), the cost of maturing cheese should include interest at 7%
per six months (as clearly the borrowings are specific). There is a risk that, if the age of maturing cheeses is not accurately
determined, the cost of cheese will be misstated.
Health and safety legislation
At 30 September 2005 the legislation will have been in effect for three months. If GVF’s management has not replaced the
shelves, a provision should be made for the penalties/fines accruing from non-compliance.
If the legislation is complied with:
■ plant and equipment may be overstated e.g:
– if the replaced shelves are not written off;
– if the value of equipment, etc is impaired because the maturing cheese business is to be downsized;
■ inventory may be overstated (e.g. if insufficient allowance is made for the deterioration in maturing cheese resulting from
handling it to replace the shelves);
■ GVF may no longer be a going concern if it does not have the produce to sell to its exclusive customers.
Grant
There is a risk that the grant received has become repayable. For example, if the terms of the grant specified a timeframe. for
the development which is now to be exceeded. In this case the grant should be presented as a payable in the balance sheet.
If the reason for deferring the implementation is related to cash flow problems, this could have implications for the going
concern of GVF.

正确答案：
(b) Supaserve, through its electronic point of sale system (EPOS), is already likely to have useful information on the overall
patterns of buying behaviour in terms of products bought frequently, peak periods, etc. It is less likely to have detailed
information on individual customer purchase patterns, though it may be monitoring where its customers are living, travel
patterns, etc. The introduction of the new online system has the potential to have a major strategic impact on the company
and its relationship with its customers. Impact can be measured by assessing the significance of the change on the company’s
operations and the likelihood of its occurrence. In Michael Porter’s words, ‘the basic tool for understanding the influence of
information technology on companies is the value chain . . . and how it affects both a company’s cost and the value delivered
to buyers’.
Clearly the investment in Internet based technology will affect both the cost and revenue sides of the business. In terms of
operations the company will need to decide the way in which to integrate the new method of customer buying with its
traditional methods. Does it create a separate ‘dedicated’ warehouse operation solely involved with the online business or does
it integrate it within its existing operations? The customer will have immediate access to information on whether goods are in
stock or not, and this may have a significant impact on the procurement systems Supaserve has with its suppliers and the
inbound logistics which get the products to where they are needed for dispatch to the customers.
Online shopping will have a major impact on outbound logistics in that a totally new distribution process will have to be
created. The extent to which this new service is provided in-house by setting up a new activity within Supaserve, or
alternatively is outsourced to specialist distributors is a key decision affecting costs and efficiency. Supaserve’s delivery
performance will be both measurable and potentially available to competitors and a real source of competitive advantage or
disadvantage.
The new online system will have an immediate impact on marketing and sales. Can customers pay over the Internet?
Opportunities for direct marketing to individual customers are opened up and customisation becomes a real possibility.
Customers can link into after-sales services and provide insights into customer satisfaction. On the support side of the value
chain the impact on human resources may be profound and technology lies at the heart of the change. Above all there is a
key need to link the new strategy to the operational systems needed to deliver it.
Clearly, the introduction of the online shopping system offers an opportunity for Supaserve to differentiate itself from its
aggressive competitors. The online service, as suggested above, is likely to appeal to a limited but growing segment of its
customers. In strategic terms it is a focus differentiation strategy enabling Supaserve to provide an improved level of service
to its customers. For this customers are willing to pay a small premium. Perhaps the more significant impact on its profit
margins will be derived from improved levels of customer retention and the attraction of customers who formerly shopped
with its competitors. The ability to sustain its competitive advantage will be measured by the impact on its competitors and
their ability to introduce a similar service.
There are a number of useful models for assessing the impact of an IT related change. These could include the five forces
model and the frameworks developed by Michael Earl assessing the strategic impact of IT. Michael Earl argues persuasively
for the correct alignment between business strategy and IT strategy. Indeed he sees a need for a ‘binary approach’ with the
alignment of IT investment activities in existing ways of doing business as having to be accommodated with the IT investments
associated with more radical change to the ways business is conducted.

正确答案：D
3,980 – 270 – 180 – 3,200 = 330 : difference 100