安徽省非会计专业考生能报名参加ACCA国际会计师考试吗？

正确答案：
(b) (i) A ‘no frills’ strategy combines low price with low perceived benefits of the product or service. It is primarily associated
with commodity goods and services where customers do not discern or value differences in the products or services
offered by competing suppliers. In some circumstances the customer cannot afford the better quality product or service
of a particular supplier. ‘No frills’ strategies are particularly attractive in price-sensitive markets. Within the airline sector,
the term ‘no frills’ is associated with a low cost pricing strategy. In Europe, at the time of writing, easyJet and Ryanair
are the two dominant ‘no frills’ low-cost budget airlines. In Asia, AirAsia and Tiger Airways are examples of ‘no frills’ lowcost
budget carriers. ‘No frills’ strategies usually exist in markets where buyers have high power coupled with low
switching costs and so there is little brand loyalty. It is also prevalent in markets where there are few providers with
similar market shares. As a result of this the cost structure of each provider is similar and new product and service
initiatives are quickly copied. Finally a ‘no frills’ strategy might be pursued by a company entering the market, using thisas a strategy to gain market share before progressing to alternative strategies.

正确答案：

(b) Effective project management could have improved the conduct of the website re-design project in the following ways:
Detailed planning
During the delivery of the project the lack of a formal detailed plan means that there is no baseline for review and control.
The absence of monitoring progress against that plan is also very evident. The meetings are events where, although progress
appears to have been made, it is unclear how much progress has been made towards the delivery of the final re-designed
website. Effective project management would have mandated the production of a detailed plan. There is no mention of a
project plan, a critical path analysis, a Gantt chart or supporting project management software.
Effective monitoring and control
The board were not kept up to date about progress and were only alerted to potential issue when the finance director became
concerned about spiralling costs. This is a failure of monitoring and control, aggravated by the fact that there is no project
plan to monitor against. Effective project management would have required formal progress to the sponsor (in this case the
board). Such monitoring should lead to project control, where suggested actions are considered and implemented to deal with
project slippage. The planning, monitoring and controlling aspects of project management are completely absent from the
scenario and so none of the usual project management monitoring and reporting structures were in place to alert the board.
Mandating of substitutes
Initial progress is hampered by the absence of key personnel at meetings 3 and 4 and the inappropriate sign-off by the RP
(already discussed above) of the technical design. The requirement for the TD to produce a technical report also slows
progress. These problems could have been addressed by ensuring that substitutes were available for these meetings who
understood their role and the scope of their authority. Effective project management would have ensured that progress would
not have been delayed by the absence of key personnel from the progress meetings.
Standards for cost-benefit analysis
The cost-benefit analysis provided by the MM is flawed in two ways. Firstly, the assumptions underpinning the benefits are
not explained. There is no supporting documentation and it appears, at face value, that year four and five benefits have been
greatly inflated to justify the project. Secondly, it would be usual to discount future costs and benefits using an agreed discount
rate. This has not been done, so the time value of money has not been taken into account. Effective project management
would have defined standards for the cost-benefit analysis based on accepted practice.
Estimating, risks and quality
The reaction of the board to the cost-benefit analysis also appears unrealistic. They appear to have suggested a budget and
a timescale which does not take into account the complexity of the remaining work or the resources available to undertake
it. The estimating part of the project management framework appears to be lacking. It is clear at the final meeting that the
website will not be ready for launch. However, the MM decides to take the risk and achieve the imposed deadline and take
a chance on the quality of the software. This decision is made against the advice of his TD and without any information about
the quality of the software. Effective project management would have mandated a framework for considering the balance
between risk and quality.

The MM does not inform. the board of the TD’s advice. The MM, like many project managers (because the MM now appears
to have adopted this role) finds it politically more acceptable to deliver a poor quality product on time than a better quality
product late. Unfortunately the product quality is so poor that the decision proves to be the wrong one and the removal of the
software (and the resignation of the MM) ends the project scenario.

正确答案：
(b) Matters to be considered
Tutorial note: Candidates at this level must appreciate that the matters to be considered when planning the nature and
scope of the examination are not the same matters to be considered when deciding whether or not to accept an
engagement. The scenario clearly indicates that the assignment is being undertaken by the current auditor rendering any
‘pre-engagement’/‘professional etiquette’ considerations irrelevant to answering this question.
This PFI has been prepared to show an external user, the bank, the financial consequences of Cusiter’s plans to help the bank
in making an investment decision. If Cusiter is successful in its loan application the PFI provides a management tool against
which the results of investing in the plant and equipment can be measured.
The PFI is unpublished rather than published. That is, it is prepared at the specific request of a third party, the bank. It will
not be published to users of financial information in general.
The auditor’s report on the PFI will provide only negative assurance as to whether the assumptions provide a reasonable basis
for the PFI and an opinion whether the PFI is:
■ properly prepared on the basis of the assumptions; and
■ presented in accordance with the relevant financial reporting framework.
The nature of the engagement is an examination to obtain evidence concerning:
■ the reasonableness and consistency of assumptions made;
■ proper preparation (on the basis of stated assumptions); and
■ consistent presentation (with historical financial statements, using appropriate accounting principles).
Such an examination is likely to take the form. of inquiry, analytical procedures and corroboration.
The period of time covered by the prospective financial information is two years. The assumptions for 2008 are likely to be
more speculative than for 2007, particularly in relation to the impact on earnings, etc of the investment in new plant and
equipment.
The forecast for the year to 31 December 2007 includes an element of historical financial information (because only part of
this period is in the future) hence actual evidence should be available to verify the first three months of the forecast (possibly
more since another three-month period will expire at the end of the month).
Cusiter management’s previous experience in preparing PFI will be relevant. For example, in making accounting estimates
(e.g. for provisions, impairment losses, etc) or preparing cash flow forecasts (e.g. in support of the going concern assertion).
The basis of preparation of the forecast. For example, the extent to which it comprises:
■ proforma financial information (i.e. historical financial information adjusted for the effects of the planned loan and capital
expenditure transaction);
■ new information and assumptions about future performance (e.g. the operating capacity of the new equipment, sales
generated, etc).
The nature and scope of any standards/guidelines under which the PFI has been prepared is likely to assist the auditor in
discharging their responsibilities to report on it. Also, ISAE 3400 The Examination of Prospective Financial Information,
establishes standards and provides guidance on engagements to examine and report on PFI including examination
procedures.
The planned nature and scope of the examination is likely to take into account the time and fee budgets for the assignments
as adjusted for any ‘overlap’ with audit work. For example, the examination of the PFI is likely to draw on the auditor’s
knowledge of the business obtained in auditing the financial statements to 31 December 2006. Analytical procedures carried
out in respect of the PFI may provide evidence relevant to the 31 December 2007 audit.

正确答案：

(b) [Ben’s address]                                                                                                     [Firm’s address]
Dear Ben                                                                                                                              [Date]
A company purchase of own shares can be subject to capital gains treatment if certain conditions are satisfied. However, one
of these conditions is that the shares in question must have been held for a minimum period of five years. As at 1 May 2010,
your shares in Flower Limited have only been held for four years and ten months. As a result, the capital gains treatment will
not apply.
In the absence of capital gains treatment, the position on a company repurchase of its own shares is that the payment will
be treated as an income distribution (i.e. a dividend) in the hands of the recipient. The distribution element is calculated as
the proceeds received for the shares less the price paid for them. On the basis that the purchase price is ￡500,000, then the
element of distribution will be ￡499,500 (500,000 – 500). This would be taxed as follows: