2019年3月陕西ACCA考试成绩查询时间为4月15日

正确答案：
(ii) Shares held in Date Inc and the related dividend income
Degrouping charge
There will be a degrouping charge in Nikau Ltd in the year ending 31 March 2008 in respect of the shares in Date Inc.
This is because Nikau Ltd has left the Facet Group within six years of the no gain, no loss transfer of the shares whilst
still owning them.
Nikau Ltd is treated as if it has sold the shares in Date Inc for their market value as at the time of the no gain, no loss
transfer. This will give rise to a gain, ignoring indexation allowance, of ￡201,000 (￡338,000 – ￡137,000).
This gain will give rise to additional corporation tax of ￡60,300 (￡201,000 x 30%).
Controlled foreign company
Date Inc is a controlled foreign company. The profits of such a company are normally attributed to its UK resident
shareholders such that they are subject to UK corporation tax.
However, none of the profits of Date Inc will be attributed to Nikau Ltd because Date Inc distributes more than 90%
(￡115,000/￡120,000 = 95·8%) of its chargeable profits to its shareholders.
Dividend income
Nikau Ltd is a UK resident company and is therefore subject to corporation tax on its worldwide income.
The dividend income will be grossed up in respect of the withholding tax giving rise to taxable income of ￡39,792
(￡38,200 x 100/96). There is no underlying tax as there are no taxes on income or capital profits in Palladia.
The corporation tax of ￡11,938 (￡39,792 x 30%) will be reduced by unilateral double tax relief equal to the withholding
tax suffered of ￡1,592 (￡39,792 x 4%) resulting in corporation tax due of ￡10,346 (￡11,938 – ￡1,592).

正确答案：
(b) Internal control statement
The United States Securities and Exchange Commission (SEC) guidelines are to disclose in the annual report as follows:
A statement of management’s responsibility for establishing and maintaining adequate internal control over financial reporting
for the company. This will always include the nature and extent of involvement by the chairman and chief executive, but may
also specify the other members of the board involved in the internal controls over financial reporting. The purpose is for
shareholders to be clear about who is accountable for the controls.
A statement identifying the framework used by management to evaluate the effectiveness of this internal control. This will
usually involve a description of the key metrics, measurement methods (e.g. rates of compliance, fair value measures, etc)
and tolerances allowed within these. Within a rules-based environment, these are likely to be underpinned by law.
Management’s assessment of the effectiveness of this internal control as at the end of the company’s most recent fiscal year.
This may involve reporting on rates of compliance, failures, costs, resources committed and outputs (if measurable) achieved.
A statement that its auditor has issued an attestation report on management’s assessment. Any qualification to the attestation
should be reported in this statement.
Tutorial note: guidance from other corporate governance codes is also acceptable.

正确答案：
(iii) Importance of confidentiality in the financing of the project and the normal duty of transparency.
I have been asked to include a statement in my remarks on the balance between our duty to be transparent whenever
possible and the need for discretion and confidentiality in some situations. In the case of our initial working capital needs
for the Giant Dam Project, the importance of confidentiality in financing is due to the potential for adverse publicity that
may arise for the lender. It is important that R&M have the project adequately financed, especially in the early stages
before the interim payments from the client become fully effective.
In general, of course, we at R&M attempt to observe the highest standards of corporate governance and this involves
adopting a default position of transparency rather than concealment wherever possible. We recognise that transparency
is important to underpin investor confidence and to provide investors with the information they need to make fund
allocation decisions.
Whilst it is normal to disclose the amount of debt we carry at any given point (on the balance sheet), it is rarely normal
practice to disclose the exact sources of those loans. In the case of the financing of initial working capital for the Giant
Dam Project, I’m sure you will realise that in this unique situation, disclosure of the lender’s identity could threaten the
progress of the project. For this reason we must resist any attempts to release this into the public domain. We are aware
of one pressure group that is actively seeking to discover this information in order to disrupt the project’s progress and
we shall be taking all internal measures necessary to ensure they do not obtain the information.
Thank you for listening.