听说ACCA考试挺难，是真的吗？

正确答案：
(c) Activity-based management (ABM) is a method of identifying and evaluating activities that a business performs using
activity-based costing to carry out a value chain analysis or a re-engineering initiative to improve strategic and operational
decisions in an organisation. Activity-based costing establishes relationships between overhead costs and activities so that
overhead costs can be more precisely allocated to products, services, or customer segments. Activity-based management
focuses on managing activities to reduce costs and improve customer value.
Kaplan and Cooper (1998) divide ABM into operational ABM and strategic ABM:
Operational ABM is about ‘doing things right’, using ABC information to improve efficiency. Those activities which add value
to the product can be identified and improved. Activities that don’t add value are the ones that need to be reduced to cut costs
without reducing product value.
Strategic ABM is about ‘doing the right things’, using ABC information to decide which products to develop and which
activities to use. This can also be used for customer profitability analysis, identifying which customers are the most profitable
and focusing on them more.
A risk with ABM is that some activities have an implicit value, not necessarily reflected in a financial value added to any
product. For instance a particularly pleasant workplace can help attract and retain the best staff, but may not be identified as
adding value in operational ABM. A customer that represents a loss based on committed activities, but that opens up leads
in a new market, may be identified as a low value customer by a strategic ABM process.
ABM can give middle managers an understanding of costs to other teams to help them make decisions that benefit the whole
organisation, not just their activities’ bottom line.

正确答案：
(b) Continuous auditing
Continuous auditing is a methodology that enables independent auditors to give written assurance on a subject matter (e.g.
inventory levels, receivables balances, financial statements) using a series of auditor’s reports issued simultaneously with (or
a short period of time after) the occurrence of events underlying the subject matter. Thus it increases the frequency of
reporting (e.g. may be issued daily, weekly).
Technological development is making increasingly sophisticated information systems available to more entities at a decreasing
cost. This has promoted a more widespread dependence on technology to produce more timely information. This has
increased the demand for timely assurance on the information provided. Auditors have had to respond with highly automated
procedures and audit tools that are integrated with the entity’s systems and controls.
Tutorial note: XBRL (eXtensible Business Reporting Language) increases the viability of continuous auditing. It provides a
widely agreed-upon set of descriptors for elements in a business report that can be read and interpreted by computer
systems. It allows an auditor to review data at any stage and determine the origin of the information and the controls that
have been incorporated.
Results of automated audit procedures must be communicated promptly, particularly if anomalies or errors identified require
that follow-up procedures be performed by audit personnel. Secure electronic communication links are therefore essential.
As entities’ reporting has moved from annual and interim reports to the monthly/daily/weekly reporting of key performance
indicators (‘KPIs’)/critical success factors (‘CSFs’), the professional accountant’s assignment has expanded from the audit of
financial statements. For example, to review reports (e.g. on interim financial statements), special purpose reports (e.g. on
the effectiveness of [outsourced] control procedures) to continuous auditing reports.
For continuous audits, auditors’ reports need to be produced automatically and safeguarded against unauthorised changes.
Reports may be ‘evergreen’ (i.e. always available to users and dated at the time of access to the information) or ‘on demand’
(i.e. available when specifically requested and dated at the time of request).
Auditors must be technically proficient to handle any engagement undertaken. For continuous audit assurance engagements
that will require a high level of expertise in various aspects of information technology as well as a sound grasp of the subject
matter being audited.
Continuous audit work requires the frequent or continuous use of audit tools integrated with the client’s systems. For example
embedded audit modules (EAMs) are subroutines that perform. control or audit procedures concurrently with the client’s
normal application processing.

正确答案：
(a) The IASB wish their standards to be ‘principles-based’ and in order for this to be the case, the standards must be based on
fundamental concepts. These concepts need to constitute a framework which is sound, comprehensive and internally
consistent. Without agreement on a framework, standard setting is based upon the personal conceptual frameworks of the
individual standard setters which may change as the membership of the body changes and results in standards that are not
consistent with each other. Such a framework is designed not only to assist standard setters, but also preparers of financial
statements, auditors and users.
A common goal of the IASB is to converge their standards with national standard setters. The IASB will encounter difficulties
converging their standards if decisions are based on different frameworks. The IASB has been pursuing a number of projects
that are aimed at achieving short term convergence on certain issues with national standard setters as well as major projects
with them. Convergence will be difficult if there is no consistency in the underlying framework being used.
Frameworks differ in their authoritative status. The IASB’s Framework requires management to expressly consider the
Framework if no standard or interpretation specifically applies or deals with a similar and related issue. However, certain
frameworks have a lower standing. For example, entities are not required to consider the concepts embodied in certain
national frameworks in preparing financial statements. Thus the development of an agreed framework would eliminate
differences in the authoritative standing of conceptual frameworks and lead to greater consistency in financial statements
internationally.
The existing concepts within most frameworks are quite similar. However, these concepts need revising to reflect changes in
markets, business practices and the economic environment since the concepts were developed. The existing frameworks need
developing to reflect these changes and to fill gaps in the frameworks. For example, the IASB’s Framework does not contain
a definition of the reporting entity. An agreed international framework could deal with this problem, especially if priority was
given to the issues likely to give short-term standard setting benefits.
Many standard setting bodies attempted initially to resolve accounting and reporting problems by developing accounting
standards without an accepted theoretical frame. of reference. The result has been inconsistency in the development of
standards both nationally and internationally. The frameworks were developed when several of their current standards were
in existence. In the absence of an agreed conceptual framework the same theoretical issues are revisited on several occasions
by standard setters. The result is inconsistencies and incompatible concepts. Examples of this are substance over form. and
matching versus prudence. Some standard setters such as the IASB permit two methods of accounting for the same set of
circumstances. An example is the accounting for joint ventures where the equity method and proportionate consolidation are
allowed.
Additionally there have been differences in the way that standard setters have practically used the principles in the framework.
Some national standard setters have produced a large number of highly detailed accounting rules with less emphasis on
general principles. A robust framework might reduce the need for detailed rules although some companies operate in a
different legal and statutory context than other entities. It is important that a framework must result in standards that account
appropriately for actual business practice.
An agreed framework will not solve all accounting issues, nor will it obviate the need for judgement to be exercised in resolving
accounting issues. It can provide a framework within which those judgements can be made.
A framework provides standard setters with both a foundation for setting standards, and concepts to use as tools for resolving
accounting and reporting issues. A framework provides a basic reasoning on which to consider the merits of alternatives. It
does not provide all the answers, but narrows the range of alternatives to be considered by eliminating some that are
inconsistent with it. It, thereby, contributes to greater efficiency in the standard setting process by avoiding the necessity of
having to redebate fundamental issues and facilitates any debate about specific technical issues. A framework should also
reduce political pressures in making accounting judgements. The use of a framework reduces the influence of personal biases
in accounting decisions.
However, concepts statements are by their nature very general and theoretical in their wording, which leads to alternative
conclusions being drawn. Whilst individual standards should be consistent with the Framework, in the absence of a specific
standard, it does not follow that concepts will provide practical solutions. IAS8 ‘Accounting Policies, Changes in Accounting
Estimates and Errors’ sets out a hierarchy of authoritative guidance that should be considered in the absence of a standard.
In this case, management can use its judgement in developing and applying an accounting policy, albeit by considering the
IASB framework, but can also use accounting standards issued by other bodies. Thus an international framework may nottotally provide solutions to practical accounting problems.

正确答案：
2 Suggested answer content for each of the eight problems contained within the scenario is as follows:
(a) The nature of each of the problems relating to the use of budgeting is as follows:
Meeting only the lowest targets
– infers that once a budget has been negotiated, the budget holder will be satisfied with this level of performance unless
there is good reason to achieve a higher standard.
Using more resources than necessary
– Once the budget has been agreed the focus will be to ensure that the budgeted utilisation of resources has been adhered
to. Indeed the current system does not provide a specific incentive not to exceed the budget level. It may be, however,
that failure to achieve budget targets would reflect badly on factors such as future promotion prospects or job security.
Making the bonus – whatever it takes
– A bonus system is linked to the budget setting and achievement process might lead to actions by employees and
management which they regard as ‘fair game’. This is because they view the maximisation of bonuses as the main
priority in any aspect of budget setting or work output.
Competing against other divisions, business units and departments
– Competition may manifest itself through the attitudes adopted in relation to transfer pricing of goods/services between
divisions, lack of willingness to co-operate on sharing information relating to methods, sources of supply, expertise, etc.
Ensuring that what is in the budget is spent
– Management may see the budget setting process as a competition for resources. Irrespective of the budgeting method
used, there will be a tendency to feel that unless the budget allowance for one year is spent, there will be imposed
reductions in the following year. This will be particularly relevant in the case of fixed cost areas where expenditure is
viewed as discretionary to some extent.
Providing inaccurate forecasts
– This infers that some aspects of budgeting problems such as ‘Gaming’ and ‘misrepresentation’ may be employed by the
budget holder in order to gain some advantage. Gaming may be seen as a deliberate distortion of the measure in order
to secure some strategic advantage. Misrepresentation refers to creative planning in order to suggest that the measure
is acceptable.
Meeting the target but not beating it
– There may be a view held by those involved in the achievement of the budget target that there is no incentive for them
to exceed that level of effectiveness.
Avoiding risks
– There may be a prevailing view by those involved in the achievement of the budget target that wherever possible
strategies incorporated into the achievement of the budget objective should be left unchanged if they have been shown
to be acceptable in the past. Change may be viewed as increasing the level of uncertainty that the proposed budget
target will be achievable.