速看！难以置信，在中国ACCA的人才需求竟然这么大？

正确答案：
(c) Extent of alleged fraud – Matters to be considered
■ Details reported to police: The managing director may have made some estimate of the possible extent of the fraud in
reporting the chief accountant’s disappearance to the police.
■ The minimum loss (assuming no insurance) would be sales for the three days before he left. If not known (e.g. because
the only record of them was in the cash book) a simple estimate might be 3/20 × total recorded revenue for a typical
month.
■ The pattern of cash bankings extracted from bank statements: A falling trend starting during the year might mark the
time from which the chief accountant began to misappropriate cash.
■ Whether other managers have voiced their suspicions, if any, on the chief accountant’s behaviour. For example, if there
was any marked change in his lifestyle. (what he appeared to spend his money on, the hours he worked, etc).
■ The prior year auditor’s report was unmodified. If this was appropriate the chief accountant’s alleged fraudulent activities
may have only started in the current year.
■ The amount of fidelity insurance cover (i.e. against employees handling cash) that Indigo has taken out to meet any
claim for fraud.
■ The likelihood, if any, of recovering misappropriated amounts. For example, if the chief accountant has assets (e.g. a
house) that can be used to settle Indigo’s claims against him in the event that he is caught/successfully prosecuted.

正确答案：
(c) Corporate governance provisions varying by country
There is a debate about the extent to which corporate governance provisions (in the form. of either written codes, laws or
general acceptances) should be global or whether they should vary to account for local differences. In this answer, Vincent
Viola’s view is critically evaluated.
In general terms, corporate governance provisions vary depending on such factors as local business culture, businesses’
capital structures, the extent of development of capital funding of businesses and the openness of stock markets. In Germany,
for example, companies have traditionally drawn much of their funding from banks thereby reducing their dependence on
shareholders’ equity. Stock markets in the Soviet Union are less open and less liquid than those in the West. In many
developing countries, business activity is concentrated among family-owned enterprises.
Against Vincent’s view
Although business cultures vary around the world, all business financed by private capital have private shareholders. Any
dilution of the robustness of provisions may ignore the needs of local investors to have their interests adequately represented.
This dilution, in turn, may allow bad practice, when present, to exist and proliferate.
Some countries suffer from a poor reputation in terms of endemic corruption and fraud and any reduction in the rigour with
which corporate governance provisions are implemented fail to address these shortcomings, notwithstanding the fact that they
might be culturally unexpected or difficult to implement.
In terms of the effects of macroeconomic systems, Vincent’s views ignore the need for sound governance systems to underpin
confidence in economic systems. This is especially important when inward investment needs are considered as the economic
wealth of affected countries are partly underpinned by the robustness, or not, of their corporate governance systems.
Supporting Vincent’s view
In favour of Vincent’s view are a number of arguments. Where local economies are driven more by small family businesses
and less by public companies, accountability relationships are quite different (perhaps the ‘family reasons’ referred to in the
case) and require a different type of accounting and governance.
There is a high compliance and monitoring cost to highly structured governance regimes that some developing countries may
deem unnecessary to incur.
There is, to some extent, a link between the stage of economic development and the adoption of formal governance codes.
It is generally accepted that developing countries need not necessarily observe the same levels of formality in governance as
more mature, developed economies.
Some countries’ governments may feel that they can use the laxity of their corporate governance regimes as a source of
international comparative advantage. In a ‘race to the bottom’, some international companies seeking to minimise the effects
of structured governance regimes on some parts of their operations may seek countries with less tight structures for some
operations.

正确答案：
(b) Related matters
(i) National insurance contributions in 2007/08
The profit for the period ending 31 March 2008 is expected to be ￡1,200 (￡400 x 3).
No class 2 contributions will be due as the profit is less than the small earnings exception limit of ￡4,465.
No class 4 contributions will be due as the profit is less than the lower profits limit of ￡5,035.
Tutorial note
Adam will have paid class 1 contributions in respect of his earnings from Rheims Ltd, thus preserving his entitlement
to state benefits and pension, and therefore there is no disadvantage in claiming the small earnings exemption from
class 2 contributions.
(ii) Purchase and renovation of the theatre
The theatre is a capital purchase that does not qualify for capital allowances as it is a building but not an industrial
building. Accordingly, the cost of purchasing the theatre will not give rise to a tax deduction for the purpose of computing
AS’s taxable trading income.
The tax treatment of the renovation costs may be summarised as follows:
– The costs will be disallowed if the renovations are necessary before the theatre can be used for business purposes.
This is because they will be regarded as further capital costs of acquiring appropriate premises.
– Some of the costs may be allowable if the condition of the theatre is such that it can be used in its present state
and the renovations are more in the nature of cosmetic improvements.
(iii) VAT position
The grant of a right to occupy the theatre in exchange for rent is an exempt supply. Accordingly, as all of AS’s activities
will be regarded as one for VAT purposes, AS will become partially exempt once he begins to rent out the theatre.
AS will be able to recover the input tax that is directly attributable to his standard rated supplies, i.e. those in connection
with the supply of children’s parties. He will also be able to recover a proportion of the input tax on his overheads; the
proportion being that of his total supplies that are standard rated.
The remainder of his input tax will only be recoverable if it is no more than ￡625 per month on average and no more
than 50% of his total input tax.
If AS were to opt to tax the theatre, the right to occupy the theatre in exchange for rent would then be a standard rated
supply. AS could then recover all of his input tax, regardless of the amount attributable to the rent, but would have to
charge VAT on the rent and on any future sale of the building.
The decision as to whether or not to opt to tax the theatre will depend on:
– the amount of input tax at stake; and
– whether or not those who rent the theatre are in a position to recover any VAT charged.

正确答案：
(b) Good performance should result in improved profitability and therefore other stakeholder groups may be rewarded for ‘good
performance’ as follows:
– Shareholders may receive increased returns on equity in the form. of increased dividends and /or capital growth.
– Customers may benefit from improved quality of products and services, and possibly lower prices.
– Suppliers may benefit from increased volumes of purchases.
– Government will benefit from increased amounts of taxation.