解答：ACCA考试有时间限制吗？多久能考完？

正确答案：
1 All organisations of whatever size need to understand and address the issues of the relationship between various levels of management, especially the nature, source and limitations of authority, responsibility and delegation. Understanding responsibility,delegation and authority is fundamental to the practice of management. Professional accountants should be able to show an understanding of the problems and challenges associated with these concepts of management. Students are not expected to
remember definitions verbatim, but they are expected to show an understanding of the inherent logic contained in these concepts,and to demonstrate a clear distinction between the two main concepts of authority and responsibility.
(a) There are many explanations of what managers do. The most widely understood approach is that of Henri Fayol, who said that managers perform. five duties, to forecast and plan, to organise, to command, co-ordinate and control. Managers are ultimately responsible for the efficient use of the organisation’s resources and are accountable to the organisation’s owners. At Flavours Fine Foods, the owners (the Jones brothers) must recognise this reality and allow the managers to manage.
It used to be said that a manager did his or her job by getting others to do theirs. In many ways this sums up the role of the supervisor. However, management must ensure that supervisors understand organisational objectives and must make clear the powers and limits of the supervisors’ authority. Supervision is an important and integral part of the task and process of management.
The role of the supervisor is critical because of direct contact with and responsibility directly for the work of others. The supervisor is unique; he or she is the interface between management and the workforce and is the direct link between the two, being in direct physical contact with non-managers on a frequent basis. Supervisors are in the front line of management and see that others fulfil their duties, resolve problems first hand and often quickly, direct the work of others and enforce discipline. In addition, they often must have direct knowledge of health, safety and employment legislation and have authority for negotiation and industrial relations within the department.

正确答案：
3 MULLIGAN CO
(a) Matters to be discussed would include the following:
The exact content of the business plan which could include:
– Description of past business performance and key products
– Discussion of the new product
– Evidence of the marketability of the new product
– Cash flow projections
– Capital expenditure forecasts
– Key business assumptions.
The form. of the assurance report that is required – in an assurance engagement the nature and wording of the expected
opinion should be discussed. Webb & Co should clarify that an opinion of ‘negative assurance’ will be required, and whether
this will meet the bank’s lending criteria.
The intended recipient of the report – Webb & Co need to clarify the name and address of the recipient at LCT Bank. For the
limitation of professional liability, it should be clarified that LCT Bank will be the only recipient, and that the assurance opinion
is being used only as part of the bank’s overall lending decision.
Limiting liability – Webb & Co may want to receive in writing a statement that the report is for information purposes only, and
does not give rise to any responsibility, liability, duty or obligation from the firm to the lender.
Deadlines – it should be discussed when the bank need the report. This in turn will be influenced by when Mulligan Co needs
the requested $3 million finance. The bank may need a considerable period of time to assess the request, review the report,
and ensure that their lending criteria have been fully met prior to advancing the finance.
Availability of evidence – Mulligan Co should be made aware that in order to express an opinion on the finance request, they
must be prepared to provide all the necessary paperwork to assist the assurance provider. Evidence is likely to include
discussions with key management, and written representations of discussions may be required.
Professional regulation – Webb & Co should discuss the kind of procedures that will be undertaken, and confirm that they
will be complying with relevant professional guidance, for example:
– ISAE 3000 Assurance Engagements other than Audits or Reviews of Historical Financial Information
– ISAE 3400 The Examination of Prospective Financial Information
Engagement administration – any points not yet discussed in detail when deciding to take the assurance engagement should
be finalised at the meeting. These points could include the following:
– Fees – the total fee and billing arrangements must be agreed before any work is carried out
– Personnel – Webb & Co should identify the key personnel who will be involved in the assignment
– Complaints procedures – should be briefly outlined (the complaints procedures in an assurance engagement may differ
from an audit assignment)
– Engagement letter – if not already signed by both Webb & Co and Mulligan Co, the engagement letter should be
discussed and signed at the meeting before any assignment work is conducted.
Tutorial note: the scenario states that Webb & Co have already decided to take the assurance assignment for their existing
client, therefore the answer to this requirement should not focus on client or engagement acceptance procedures.

正确答案：
(ii) Corporate hospitality
A partner in an audit firm is obviously in a position to influence the conduct and outcome of an audit. Therefore a
partner being on ‘too friendly’ terms with an audit client creates a familiarity threat. Other members of the audit team
may not exert as much influence on the audit.
A self-interest threat may also be perceived (e.g. if corporate hospitality is provided to keep a prestigious client).
There is no absolute prohibition against corporate hospitality provided:
■ the value attached to such hospitality is ‘insignificant’; and
■ the ‘frequency, nature and cost’ of the hospitality is reasonable.
Thus, flying the directors of an audit client for weekends away could be seen as significant. Similarly, entertaining an
audit client on a regular basis could be seen as unacceptable.
Partners and staff of Boleyn will need to be objective in their assessments of the significance or reasonableness of the
hospitality offered. (Would ‘a reasonable and informed third party’ conclude that the hospitality will or is likely to be
seen to impair your objectivity?)
If they have any doubts they should discuss the matter in the first instance with the audit engagement partner, who
should refer the matter to the ethics partner if in doubt.

正确答案：

The essential issues to be disentangled from the problem scenario relate to breach of contract and the remedies available for such breach.
There seems to be no doubt that there is a contractual agreement between Arti and Bee Ltd. Normally breach of a contract occurs where one of the parties to the agreement fails to comply, either completely or satisfactorily, with their obligations under it. However, such a definition does not appear to apply in this case as the time has not yet come when Arti has to produce the text. He has merely indicated that he has no intention of doing so. This is an example of the operation of the doctrine of anticipatory breach.
This arises precisely where one party, prior to the actual due date of performance, demonstrates an intention not to perform. their contractual obligations. The intention not to fulfil the contract can be either express or implied.
Express anticipatory breach occurs where a party actually states that they will not perform. their contractual obligations (Hochster v De La Tour (1853)). Implied anticipatory breach occurs where a party carries out some act which makes performance impossible
Omnium Enterprises v Sutherland (1919)).
When anticipatory breach takes place the innocent party can sue for damages immediately on receipt of the notification of the other party’s intention to repudiate the contract, without waiting for the actual contractual date of performance as in Hochster v De La Tour. Alternatively, they can wait until the actual time for performance before taking action. In the latter instance, they are entitled to make preparations for performance, and claim the agreed contract price (White and Carter (Councils) v McGregor (1961)).
It would appear that Arti’s action is clearly an instance of express anticipatory breach and that Bee Ltd has the right either to accept the repudiation immediately or affirm the contract and take action against Arti at the time for performance (Vitol SA v Norelf Ltd (1996)). In any event Arti is bound to complete his contractual promise or suffer the consequences of his breach of contract.
Remedies for breach of contract

(i) Specific performance It will sometimes suit a party to break their contractual obligations, even if they have to pay damages. In such circumstances the court can make an order for specific performance to require the party in breach to complete their part of the contract. However, as specific performance is not available in respect of contracts of employment or personal service Arti cannot be legally required to write the book for Bee Ltd (Ryan v Mutual Tontine Westminster Chambers Association (1893)). This means that the only remedy against Arti lies in the award of damages.
(ii) Damages A breach of contract will result in the innocent party being able to sue for damages.
Bee Ltd, therefore, can sue Bob for damages, but the important issue relates to the extent of such damages.
The estimation of what damages are to be paid by a party in breach of contract can be divided into two parts: remoteness and measure.
Remoteness of damage
The rule in Hadley v Baxendale (1845) states that damages will only be awarded in respect of losses which arise naturally, or which both parties may reasonably be supposed to have contemplated when the contract was made, as a probable result of its breach.

The effect of the first part of the rule in Hadley v Baxendale is that the party in breach is deemed to expect the normal consequences of the breach, whether they actually expected them or not. Under the second part of the rule, however, the party in breach can only be held liable for abnormal consequences where they have actual knowledge that the abnormal consequences might follow (Victoria Laundry Ltd v Newham Industries Ltd (1949)).

Measure of damages
Damages in contract are intended to compensate an injured party for any financial loss sustained as a consequence of another party’s breach. The object is not to punish the party in breach, so the amount of damages awarded can never be greater than the actual loss suffered. The aim is to put the injured party in the same position they would have been in had the contract been properly performed. In order to achieve this end the claimant is placed under a duty to mitigate losses. This means that the injured party has to take all reasonable steps to minimise their loss (Payzu v Saunders (1919)). Although such a duty did not appear to apply in relation to anticipatory breach as decided in White and Carter (Councils) v McGregor (1961)(above).
Applying these rules to the fact situation in the problem it is evident that as Arti has effected an anticipatory breach of his contract with Bee Ltd he will be liable to them for damages suffered as a consequence, if indeed they suffer damage as a result of his breach. As Bee Ltd will be under a duty to mitigate their losses, they will have to commit their best endeavours to find someone else to produce the required text on time. If they can do so at no further cost then they would suffer no loss, but any additional costs in producing the text will have to be borne by Arti.
However, if Bee Ltd is unable to produce the required text on time the situation becomes more complicated.
(i) As regards the profits from the contract to supply the accountancy body with all its text, the issue would be as to whether this was normal profit or amounted to an unexpected gain, as it was not part of Bee Ltd’s normal market when the contract was signed. If Victoria Laundry Ltd v Newham Industries Ltd were to be applied it is unlikely that Bee Ltd would be able to claim that loss of profit from Arti. However, it is equally plausible that the contract was an ordinary commercial one and that Arti would have to recompense Bee Ltd for any losses suffered from its failure to complete contractual performance.
(ii) As for the extensive preliminary expenses Arti would certainly be liable for them, as long as they were in the ordinary course of Bee Ltd’s business and were not excessive (Anglia Television v Reed (1972)).