解答！AICPA/ACCA互免吗，申请ACCA免考时需要注意什么

正确答案：
(a) To: Board of directors
From: Management Accountant
Date: 8 June 2007
The potential benefits of the adoption of a balanced scorecard approach to performance measurement within GER are as
follows:
A broader business perspective
Financial measures invariably have an inward-looking perspective. The balanced scorecard is wider in its scope and
application. It has an external focus and looks at comparisons with competitors in order to establish what constitutes best
practice and ensures that required changes are made in order to achieve it. The use of the balanced scorecard requires a
balance of both financial and non-financial measures and goals.
A greater strategic focus
The use of the balanced scorecard focuses to a much greater extent on the longer term. There is a far greater emphasis on
strategic considerations. It attempts to identify the needs and wants of customers and the new products and markets. Hence
it requires a balance between short term and long term performance measures.
A greater focus on qualitative aspects
The use of the balanced scorecard attempts to overcome the over-emphasis of traditional measures on the quantifiable aspects
of the internal operations of an organisation expressed in purely financial terms. Its use requires a balance between
quantitative and qualitative performance measures. For example, customer satisfaction is a qualitative performance measure
which is given prominence under the balanced scorecard approach.
A greater focus on longer term performance
The use of traditional financial measures is often dominated by financial accounting requirements, for example, the need to
show fixed assets at their historic cost. Also, they are primarily focused on short-term profitability and return on capital
employed in order to gain stakeholder approval of short term financial reports, the longer term or whole life cycle often being
ignored.
The limitations of a balanced scorecard approach to performance measurement may be viewed as follows:
The balanced scorecard attempts to identify the chain of cause and effect relationships which will provide the stimulus for
the future success of an organisation.
Advocates of a balanced scorecard approach to performance measurement suggest that it can constitute a vital component
of the strategic management process.
However, Robert Kaplan and David Norton, the authors of the balanced scorecard concept concede that it may not be suitable
for all firms. Norton suggests that it is most suitable for firms which have a long lead time between management action and
financial benefit and that it will be less suitable for firms with a short-term focus. However, other flaws can be detected in
the balanced scorecard.
The balanced scorecard promises to outline the theory of the firm by clearly linking the driver/outcome measures in a cause
and effect chain, but this will be difficult if not impossible to achieve.
The precise cause and effect relationships between measures for each of the perspectives on the balanced scorecard will be
complex because the driver and outcome measures for the various perspectives are interlinked. For example, customer
satisfaction may be seen to be a function of several drivers, such as employee satisfaction, manufacturing cycle time and
quality. However, employee satisfaction may in turn be partially driven by customer satisfaction and employee satisfaction
may partially drive manufacturing cycle time. A consequence of this non-linearity of the cause and effect chain (i.e., there is
non-linear relationship between an individual driver and a single outcome measure), is that there must be a question mark
as to the accuracy of any calculated correlations between driver and outcome measures. Allied to this point, any calculated
correlations will be historic. This implies that it will only be possible to determine the accuracy of cause and effect linkages
after the event, which could make the use of the balanced scorecard in dynamic industries questionable. If the market is
undergoing rapid evolution, for example, how meaningful are current measures of customer satisfaction or market share?
These criticisms do not necessarily undermine the usefulness of the balanced scorecard in presenting a more comprehensive
picture of organisational performance but they do raise doubts concerning claims that a balanced scorecard can be
constructed which will outline a clear cause and effect chain between driver and outcome measures and the firm’s financial
objectives.

正确答案：
(c) Management letter effectiveness criteria
Tutorial note: Candidates at this level must know that a management letter is a letter of weakness (also called post-audit
letter). NO marks will be awarded for consideration of any other letters (e.g. management representation letters, engagement
letters).
■ Timeliness – a management letter should be issued as soon as possible after completion of the audit procedures giving
rise to comment. This is particularly important when audit work is carried out on more than one audit visit and where
it is a matter of urgency that management make improvements to their procedures (e.g. where there is evidence of
serious weakness).
■ Clarity – wording must be clear so that recipients understand the significance of weaknesses that are being drawn to
their attention. It is particularly important that implications are explained clearly in terms that will prompt management
to respond positively (e.g. drawing attention to the risks of financial loss arising).
■ Illustrative – specific illustrative examples (e.g. of where controls have not been evidenced) should aid management in
understanding the nature of the problem(s).
■ Constructive comments/advice – recommendations for improvements must be practicable (i.e. appropriate and costeffective
in the light of the client’s resources) if the client is to take corrective action.
■ Conciseness – unnecessary volume will distract management from new/additional matters that require their attention.
For example, matters adequately dealt with in the internal auditor’s report should not be repeated.
■ Factual accuracy is essential. Inaccuracies will not only aggravate the client and appear unprofessional but could, in rare
circumstances, result in liability. Similarly, the letter should not criticise (or ‘cast aspersions’) on individual staff members
if it is the system that is inadequate.
■ A suitable structure – for example ‘tiered’, where the report contains matters of varying levels of significance. By directing
different classes of matters to the appropriate level or area of responsibility action by management can be taken more
speedily and constructively.
Tutorial note: An alternative structure might be one that sequences those recommendations that improve
profitability/cash flows before those that deal with information systems.
■ Inclusion of staff responses – both to advise senior management of action proposed/being taken by their staff and to give
credit to recommendations for improvements where it is due (e.g. where client’s staff have proposed recommendations).
■ Inclusion of management’s response – an indication of the actions that management intends to take is more likely to
result in action being taken. Discussing findings with management first should also ensure their factual accuracy.
■ Client’s perspective – implications from the client’s viewpoint (e.g. in terms of cost savings) are more likely to be acted
on than those expressed from an audit perspective (e.g. in terms of lowered audit risk).
■ Professional tone – should not be offensive. Comments that fault management’s knowledge, competence, motives or
integrity are likely to provoke defensive reactions. Comments should be positive/constructive by emphasising
solutions/benefits.
Tutorial notes: Other points that candidates may include:
■ Inclusion of matters of future relevance
■ Cost effectiveness – minutes of discussions with management instead of a formal weakness letter
■ Not raising ‘people problems’ in such a formal communication (a confidential discussion is preferable).

正确答案：
(b) Perfect Shopper currently has a relatively short upstream supply chain. They are bulk purchasers from established suppliers
of branded goods. Their main strength at the moment is to offer these branded goods at discounted prices to neighbourhood
shops that would normally have to pay premium prices for these goods.
In the upstream supply chain, the issue of branding is a significant one. At present, Perfect Shopper only provides branded
goods from established names to its customers. As far as the suppliers are concerned, Perfect Shopper is the customer and
the company’s regional warehouses are supplied as if they were the warehouses of conventional supermarkets. Perfect
Shopper might look at the following restructuring opportunities within this context:
– Examining the arrangements for the delivery of products from suppliers to the regional warehouses. At present this is in
the hands of the suppliers or contractors appointed by suppliers. It appears that when Perfect Shopper was established
it decided not to contract its own distribution. This must now be open to review. It is likely that competitors have
established contractual arrangements with logistics companies to collect products from suppliers. Perfect Shopper must
examine this, accompanied by an investigation into downstream distribution. A significant distribution contract would
probably include the branding of lorries and vans and this would provide an opportunity to increase brand visibility and
so tackle this issue at the same time.
– Contracting the supply and distribution of goods also offers other opportunities. Many integrated logistics contractors also
supply storage and warehousing solutions and it would be useful for Perfect Shopper to evaluate the costs of these.
Essentially, distribution, warehousing and packaging could be outsourced to an integrated logistics company and Perfect
Shopper could re-position itself as a primarily sales and marketing operation.
– Finally, Perfect Shopper must review how it communicates orders and ordering requirements with its suppliers. Their
reliance on supplier deliveries suggests that the relationship is a relatively straightforward one. There may be
opportunities for sharing information and allowing suppliers access to forecasted demand. There are many examples
where organisations have allowed suppliers access to their information to reduce costs and to improve the efficiency of
the supply chain as a whole.
The suggestions listed above assume that Perfect Shopper continues to only supply branded goods. Moving further upstream
in the supply chain potentially moves the company into the manufacture and supply of goods. This will raise a number of
significant issues about the franchise itself.
At present Perfect Shopper has, by necessity, concentrated on branded goods. It has not really had to understand how these
goods sell in specific locations because it has not been able to offer alternatives. The content of the standing order reflects
how the neighbourhood shop wishes to compete in its locality. However, if Perfect Shopper decides to commission its own
brand then the breadth of products is increased. Neighbourhood shops would be able to offer ‘own brand’ products to compete
with supermarkets who also focus on own brand products. It would also increase the visibility of the brand. However, Perfect
Shopper must be sure that this approach is appropriate as a whole. It could easily produce an own brand that reduces the
overall image of the company and hence devalues the franchise. Much more research is needed to assess the viability ofproducing ‘own brand’ goods.