你知道ACCA在加拿大有用吗？

正确答案：
(ii) Upwards communication is generally non-directive in nature and often takes two forms: personal problems or suggestions and/or technical feedback as part of the organisation’s control system.

正确答案：
(b) Risk management strategies and Chen Products
Risk transference strategy
This would involve the company accepting a portion of the risk and seeking to transfer a part to a third party. Although an
unlikely possibility given the state of existing claims, insurance against future claims would serve to limit Chen’s potential
losses and place a limit on its losses. Outsourcing manufacture may be a way of transferring risk if the ourtsourcee can be
persuaded to accept some of the product liability.
Risk avoidance strategy
An avoidance strategy involves discontinuing the activity that is exposing the company to risk. In the case of Chen this would
involve ceasing production of Product 2. This would be pursued if the impact (hazard) and probability of incurring an
acceptable level of liability were both considered to be unacceptably high and there were no options for transference or
reduction.
Risk reduction strategy
A risk reduction strategy involves seeking to retain a component of the risk (in order to enjoy the return assumed to be
associated with that risk) but to reduce it and thereby limit its ability to create liability. Chen produces four products and it
could reconfigure its production capacity to produce proportionately more of Products 1, 3 and 4 and proportionately less of
Product 2. This would reduce Product 2 in the overall portfolio and therefore Chen’s exposure to its risks. This would need
to be associated with instructions to other departments (e.g. sales and marketing) to similarly reconfigure activities to sell
more of the other products and less of Product 2.
Risk acceptance strategy
A risk acceptance strategy involves taking limited or no action to reduce the exposure to risk and would be taken if the returns
expected from bearing the risk were expected to be greater than the potential liabilities. The case mentions that Product 2 is
highly profitable and it may be that the returns attainable by maintaining and even increasing Product 2’s sales are worth the
liabilities incurred by compensation claims. This is a risk acceptance strategy.

正确答案：
(b) Late filing of VAT returns
The late filing of two or more VAT returns within the period of one year will give rise to a default surcharge. This occurs when
either
– The return is late and/or
– The payment is late.
Customs & Excise will serve a surcharge liability notice on the taxpayer when a single return is filed late and/or the VAT due
is paid late. The surcharge period will run from the date of notice to the anniversary of the quarter end of the period in which
the trader is in default.
Any further defaults within the surcharge period will extend the surcharge period.
If there is a late payment of VAT in the surcharge period, a surcharge will be levied at the rate of 2% on the first occasion,
rising progressively to a maximum of 15% if there are several defaults. One complete year of correct compliance is necessary
to escape the default surcharge regime.
For Flop Ltd, the surcharge period originally ran to 31 December 2005 but was extended to 31 March 2006 as the second
return is late. This could be extended again if the June return is late. The second default (31 March return) will give rise to
a 2% surcharge, based on the tax paid late of ￡24,000. This gives a surcharge of ￡480. This exceeds the de minimus level
of ￡400, so will be collected.
To avoid a further surcharge, the VAT return to 30 June 2005 should be submitted by 31 July at the latest. This would save
5% x ￡8,250 = ￡412.
In addition, Flop Ltd should obtain a refund of the VAT on the bad debt. Relief is available where;
(i) the debt is more than six months old, and
(ii) the debt has been written off in the creditor’s accounts.
The claim must be made within three years. The amount of VAT repayable is 17·5% of ￡50,000 = ￡8,750. If this is claimed
though the VAT return to 30 June 2005, there should be a net VAT repayment of (￡8,250 - ￡8,750) = ￡500. Even if this
return is submitted late, the fact that no VAT is outstanding means that there will be no surcharge actually payable (as
calculated above), but the surcharge period will nevertheless be extended.