2020年青海ACCA考试准考证打印时间考前两周

正确答案：
3 Overview:
A traditional job description can only list or outline the tangible elements of a job. As work becomes more challenging, more
information is required about the skills needed to perform. that job. A person specification is of greater value in the professional
sector, where it is inappropriate to assume repetition and where there is a greater degree of discretion in performing the task.
Part (a):
(i) A person specification - also referred to as a personnel specification – provides the organisation with a profile of the kind of
person that would match the needs of the post. It sets out in written detail the education, qualifications, training, experience,
personal attributes and competencies a post holder must possess to perform. the task to the satisfaction of the organisation.
It describes the person needed to fulfil the task.

正确答案：
(b) The main disagreement over a shift to fair value measurement is the debate over relevance versus reliability. It is argued that
historical cost financial statements are not relevant because they do not provide information about current exchange values
for the entity’s assets which to some extent determine the value of the shares of the entity. However, the information provided
by fair values may be unreliable because it may not be based on arm’s-length transactions. Proponents of fair value
accounting argue that this measurement is more relevant to decision makers even if it is less reliable and would produce
balance sheets that are more representative of a company’s value. However it can be argued that relevant information that is
unreliable is of no use to an investor. One advantage of historical cost financial information is that it produces earnings
numbers that are not based on appraisals or other valuation techniques. Therefore, the income statement is less likely to be
subject to manipulation by management. In addition, historical cost balance sheet figures comprise actual purchase prices,
not estimates of current values that can be altered to improve various financial ratios. Because historical cost statements rely
less on estimates and more on ‘hard’ numbers, it can be said that historical cost financial statements are more reliable than
fair value financial statements. Furthermore, fair value measurements may be less reliable than historical costs measures
because fair value accounting provides management with the opportunity to manipulate the reported profit for the period.
Developing reliable methods of measuring fair value so that investors trust the information reported in financial statements is
critical.
Fair value measurement could be said to be more relevant than historical cost as it is based on market values and not entity
specific measurement on initial recognition, so long as fair values can be reliably measured. Generally the fair value of the
consideration given or received (effectively historical cost) also represents the fair value of the item at the date of initial
recognition. However there are many cases where significant differences between historical cost and fair value can arise on
initial recognition.
Historical cost does not purport to measure the value received. It cannot be assumed that the price paid can be recovered in
the market place. Hence the need for some additional measure of recoverable value and impairment testing of assets.
Historical cost can be an entity specific measurement. The recorded historical cost can be lower or higher than its fair value.
For example the valuation of inventory is determined by the costing method adopted by the entity and this can vary from
entity to entity. Historical cost often requires the allocation of costs to an asset or liability. These costs are attributed to assets,
liabilities and expenses, and are often allocated arbitrarily. An example of this is self constructed assets. Rules set out in
accounting standards help produce some consistency of historical cost measurements but such rules cannot improve
representational faithfulness.
Another problem with historical cost arises as regards costs incurred prior to an asset being recognised. Historical costs
recorded from development expenditure cannot be capitalised if they are incurred prior to the asset meeting the recognition
criteria in IAS38 ‘Intangible Assets’. Thus the historical cost amount does not represent the fair value of the consideration
given to create the asset.
The relevance of historical cost has traditionally been based on a cost/revenue matching principle. The objective has been to
expense the cost of the asset when the revenue to which the asset has contributed is recognised. If the historical cost of the
asset differs from its fair value on initial recognition then the matching process in future periods becomes arbitrary. The
measurement of assets at fair value will enhance the matching objective. Historical cost may have use in predicting future
net reported income but does not have any necessary implications for future cash flows. Fair value does embody the market’s
expectations for those future cash flows.
However, historical cost is grounded in actual transaction amounts and has existed for many years to the extent that it is
supported by practical experience and familiarity. Historical cost is accepted as a reliable measure especially where no other
relevant measurement basis can be applied.

正确答案：
(c) The usefulness of activity-based techniques is accentuated in situations where overheads comprise a significant proportion of
product costs. Manufacturing overheads comprise 30·9% of turnover during the year ended 31 May 2005. Traditional
methods of allocating overheads to products might result in product cost information which is misleading and detrimental to
managerial decision-making. Calculations of product costs are more prone to error in situations where higher levels of
overhead exist. The consequences can prove disastrous as, for example, in the under-pricing or over-pricing of products.
Since Taliesin Ltd is going to confine its activities to its home country it must be prepared to face increased competition and
this increases the need for greater visibility and more accurate product cost information.
At present, Taliesin Ltd offers a range of products which is increasing in number and this may lead to the need for a more
detailed costing system. Traditional absorption systems might well be inadequate as the number of product variants increases.
One would expect that each new product developed is more complex than its predecessors. The company would probably
start with simple Vanilla, then a few basic flavours but as Taliesin Ltd has expanded one would expect it to take longer to
originate and test new products until they are ready to be introduced. It will probably take longer to mix the ingredients for a
run of each product.
These two, development and mixing ingredients, are examples of activities which arise when new products are considered.
If traditional absorption costing and budgeting are used based on machine-time in production then the effect of these activities
would be ignored.
In order to gain a full appreciation of the impact of new product introduction activity-based techniques should be used to
guide Taliesin Ltd into the easiest way to maintain its policy of growth. It may be a better decision to expand abroad or into
new markets at home with the existing products than pursue growth by introducing new products to a dwindling number of
customers.
We are not told of the composition of the customer base of Taliesin Ltd. However, one thing we do know is that the scope of
activity-based techniques extends beyond products and services. For example, the application of activity-based costing can
provide vital information that enables management to undertake customer profitability analysis, thereby further improving
management decision-making and operating performance.