2021年3月ACCA考试报名截止时间：2月8日

正确答案：
(ii) The implications of selling the Oxford house and garden in two separate disposals
The additional sales proceeds would result in an increase in Clifford’s capital gains and consequently his tax liability.
When computing the gain on the sale of the house together with a small part of the garden, the allowable cost would
be a proportion of the original cost. That proportion would be A/A + B where A is the value of the house and garden
that has been sold and B is the value of the part of the garden that has been retained. Principal private residence relief
and taper relief would be available in the same way as that set out in (i) above.
When computing the gain on the sale of the remainder of the garden, the cost would be the original cost of the property
less the amount used in computing the gain on the earlier disposal. Principal private residence relief would not be
available as the land sold is not a dwelling house or part of one.

正确答案：
(ii) Advantages and disadvantages of being non-executive rather than executive
The UK Combined Code, for example, allows for risk committees to be made up of either executive or non-executive
members.
Advantages of non-executive membership
Separation and detachment from the content being discussed is more likely to bring independent scrutiny.
Sensitive issues relating to one or more areas of executive oversight can be aired without vested interests being present.
Non-executive directors often bring specific expertise that will be more relevant to a risk problem than more
operationally-minded executive directors will have.
Chen’s four members, being from different backgrounds, are likely to bring a range of perspectives and suggested
strategies which may enrich the options open to the committee when considering specific risks.
Disadvantages of non-executive membership (advantages of executive membership)
Direct input and relevant information would be available from executives working directly with the products, systems
and procedures being discussed if they were on the committee. Non-executives are less likely to have specialist
knowledge of products, systems and procedures being discussed and will therefore be less likely to be able to comment
intelligently during meetings.
The membership, of four people, none of whom ‘had direct experience of Chen’s industry or products’ could produce
decisions taken without relevant information that an executive member could provide.
Non-executive directors will need to report their findings to the executive board. This reporting stage slows down the
process, thus requiring more time before actions can be implemented, and introducing the possibility of some
misunderstanding.

正确答案：
(b) The major benefits of pursuing a policy of internal development that may accrue to Taliesin Ltd are as follows:
– By confining their activities to its internal environment the company avoids the need to manage the integration of
businesses which is necessitated by an acquisition. Management teams, when considering the acquisition of another
organisation, very often underestimate the costs of integration.
– There is no need for the board of directors of Taliesin Ltd to familiarise itself with different organisational and national
cultures, values etc, thereby avoiding many potential problems.
– The board of directors of Taliesin Ltd is better able to control the activities of the business and the need for more complex
supply chains and strategic alliances with foreign organisations is rendered unnecessary.
– All investments are made at market price whereas if the board of directors was to attempt to grow the business
acquisition then significant outlays would probably be made in respect of purchased goodwill.
– As the organisation develops and expands, staff are provided with development and learning activities that may
precipitate an increase in the level of their commitment to the organisation.

正确答案：
(c) Audit procedures to determine the validity of the amortisation rate of five years being applied to development costs in relation
to the product Plummet would include the following:
– Obtain the papers documenting market research carried out on Plummet. Review and ascertain that the market research
supports a product life span of five years.
– Review actual sales patterns since the launch of Plummet and compare to the predicted sales per the market research
document.
Tutorial note: this will help to demonstrate the accuracy of the predicted sales forecast of Plummet.
– Read the assumptions underpinning the market research sales projections, and consider whether these assumptions
agree with the auditors’ understanding of the business.
– Discuss sales trends with the sales/marketing directors and ascertain whether sales are in line with management’s
expectations.
– Read correspondence with retail outlets to ensure there is continued support for selling Plummet.
– Obtain marketing/advertising budgets and ascertain enough expenditure is continuing on Plummet to support continued
sales.