贵州省考生：2020年ACCA国际会计师几月份考试？

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(b) IAS16 ‘Property, Plant and Equipment’ permits assets to be revalued on a class by class basis. The different characteristics
of the buildings allow them to be classified separately. Different measurement models can, therefore, be used for the office
buildings and the film studios. However, IAS8 ‘Accounting policies, changes in accounting estimates and errors’ says that
once an entity has decided on its accounting policies, it should apply them consistently from period to period and across all
relevant transactions. An entity can change its accounting policies but only in specific circumstances. These circumstances
are:
(a) where there is a new accounting standard or interpretation or changes to an accounting standard
(b) where the change results in the financial statements providing reliable and more relevant information about the effects
of transactions, other events or conditions on the entity’s financial position, financial performance, or cash flows
Voluntary changes in accounting policies are quite uncommon but may occur when an accounting policy is no longer
appropriate. Router will have to ensure that the change in accounting policy meets the criteria in IAS8. Additionally,
depreciated historical cost will have to be calculated for the film studios at the commencement of the period and the opening
balance on the revaluation reserve and any other affected component of equity adjusted. The comparative amounts for each
prior period should be presented as if the new accounting policy had always been applied. There are limits on retrospective
application on the grounds of impracticability.
It is surprising that the lease of the land is considered to be a finance lease under IAS17 ‘Leases’. Land is considered to have
an indefinite life and should, therefore normally be classified as an operating lease unless ownership passes to the lessee
during the lease term. The lease of the land should be separated out from the lease and treated individually. The value of the
land so determined would be taken off the balance sheet in terms of the liability and asset and the lease payments treated
as rentals in the income statement. A prior period adjustment should also be made. The buildings would continue to be
treated as property, plant and equipment (PPE) and the carrying amount not adjusted. However, the remaining useful life of
the building should be revised to reflect the shorter lease term. This will result in the carrying amount being depreciated over
the shorter period. This change to the depreciation policy is applied prospectively not retrospectively.
The lease liability must be assessed for derecognition under IAS39 ‘Financial Instruments: Recognition and Measurement’,
because of the revision of the lease terms, in order to determine whether the new terms are substantially different from the
old. The purpose of this is to determine whether the change in terms is a modification or an extinguishment. The change
seems to constitute a ‘modification’ because there is little change to the terms. The lease liability is, therefore, amended by
deducting the one off payment ($10 million) from the carrying amount (after adjustment for the lease of land) together with
any transaction costs. The lease liability is then remeasured to the present value of the revised future cash flows, discounted
using the original effective interest rate. Any adjustment made in remeasuring the lease liability will be taken to the income
statement.

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(b) Assertive behaviour on the other hand is based on equality and co-operation. It involves standing up for one’s own rights and needs but also respects the rights and needs of others. It is not overbearing or aggressive but can be described as clear, honest and direct communication.
Assertive individuals defend their rights in a way that does not violate another individual’s rights. They express their needs,wants, opinions, feelings and beliefs in direct and appropriate ways.
Characteristics of assertive behaviour include statements that are short, clear and to the point, distinctions made between fact and opinion, suggestions weighted with advice and evidence. Constructive criticism is the norm and offered without blame or assumptions. Questions to establish the wishes, opinions and thoughts of others are used as ways of getting around problems. There are no ‘ought’ or ‘should’ conditions, the first statement is often held, the individual’s own feelings are expressed and not those of others. Assertive behaviour can be successful if it displays a willingness to deliver a mutual compromise as an aid to achieving a clear objective.

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(c) Choo Wang’s remuneration package
Benefits of PRP
In general terms, performance-related pay serves to align directors’ and shareholders’ interests in that the performancerelated
element can be made to reflect those things held to be important to shareholders (such as financial targets). This, in
turn, serves to motivate directors, especially if they are directly responsible for a cost or revenue/profit budget or centre. The
possibility of additional income serves to motivate directors towards higher performance and this, in turn, can assist in
recruitment and retention. Finally, performance-related pay can increase the board’s control over strategic planning and
implementation by aligning rewards against strategic objectives.
Critical evaluation of Choo Wang’s package
Choo Wang’s package appears to have a number of advantages and shortcomings. It was strategically correct to include some
element of pay linked specifically to Southland success. This will increase Choo’s motivation to make it successful and indeed,
he has said as much – he appears to be highly motivated and aware that additional income rests upon its success. Against
these advantages, it appears that the performance-related component does not take account of, or discount in any way for,
the risk of the Southland investment. The bonus does not become payable on a sliding scale but only on a single payout basis
when the factory reaches an ‘ambitious’ level of output. Accordingly, Choo has more incentive to be accepting of risk with
decisions on the Southland investment than risk averse. This may be what was planned, but such a bias should be pointed
out. Clearly, the company should accept some risk but recklessness should be discouraged. In conclusion, Choo’s PRP
package could have been better designed, especially if the Southland investment is seen as strategically risky.