ACCA考试常用公式汇总，值得浙江省考生收藏！

正确答案：
(a)Roleofinternalandexternalauditors–differencesObjectivesThemainobjectiveofinternalauditistoimproveacompany’soperations,primarilyintermsofvalidatingtheefficiencyandeffectivenessoftheinternalcontrolsystemsofacompany.Themainobjectiveoftheexternalauditoristoexpressanopiniononthetruthandfairnessofthefinancialstatements,andotherjurisdictionspecificrequirementssuchasconfirmingthatthefinancialstatementscomplywiththereportingrequirementsincludedinlegislation.ReportingInternalauditreportsarenormallyaddressedtotheboardofdirectors,orotherpeoplechargedwithgovernancesuchastheauditcommittee.Thosereportsarenotpubliclyavailable,beingconfidentialbetweentheinternalauditorandtherecipient.Externalauditreportsareprovidedtotheshareholdersofacompany.Thereportisattachedtotheannualfinancialstatementsofthecompanyandisthereforepubliclyavailabletotheshareholdersandanyreaderofthefinancialstatements.ScopeofworkTheworkoftheinternalauditornormallyrelatestotheoperationsoftheorganisation,includingthetransactionprocessingsystemsandthesystemstoproducetheannualfinancialstatements.Theinternalauditormayalsoprovideotherreportstomanagement,suchasvalueformoneyauditswhichexternalauditorsrarelybecomeinvolvedwith.Theworkoftheexternalauditorrelatesonlytothefinancialstatementsoftheorganisation.However,theinternalcontrolsystemsoftheorganisationwillbetestedastheseprovideevidenceonthecompletenessandaccuracyofthefinancialstatements.RelationshipwithcompanyInmostorganisations,theinternalauditorisanemployeeoftheorganisation,whichmayhaveanimpactontheauditor’sindependence.However,insomeorganisationstheinternalauditfunctionisoutsourced.Theexternalauditorisappointedbytheshareholdersofanorganisation,providingsomedegreeofindependencefromthecompanyandmanagement.(b)BenefitsofauditcommitteeinConoyCoAssistancewithfinancialreporting(nofinanceexpertise)TheexecutivedirectorsofConoyCodonotappeartohaveanyspecificfinancialskills–asthefinancialdirectorhasrecentlyleftthecompanyandhasnotyetbeenreplaced.ThismaymeanthatfinancialreportinginConoyCoislimitedorthattheothernon-financialdirectorsspendasignificantamountoftimekeepinguptodateonfinancialreportingissues.AnauditcommitteewillassistConoyCobyprovidingspecialistknowledgeoffinancialreportingonatemporarybasis–atleastoneofthenewappointeesshouldhaverelevantandrecentfinancialreportingexperienceundercodesofcorporategovernance.ThiswillallowtheexecutivedirectorstofocusonrunningConoyCo.EnhanceinternalcontrolsystemsTheboardofConoyCodonotnecessarilyunderstandtheworkoftheinternalauditor,ortheneedforcontrolsystems.ThismeansthatinternalcontrolwithinConoyComaybeinadequateorthatemployeesmaynotrecognisetheimportanceofinternalcontrolsystemswithinanorganisation.TheauditcommitteecanraiseawarenessoftheneedforgoodinternalcontrolsystemssimplybybeingpresentinConoyCoandbyeducatingtheboardontheneedforsoundcontrols.Improvingtheinternalcontrol‘climate’willensuretheneedforinternalcontrolsisunderstoodandreducecontrolerrors.RelianceonexternalauditorsConoyCo’sinternalauditorscurrentlyreporttotheboardofConoyCo.Aspreviouslynoted,thelackoffinancialandcontrolexpertiseontheboardwillmeanthatexternalauditorreportsandadvicewillnotnecessarilybeunderstood–andtheboardmayrelytoomuchonexternalauditorsIfConoyCoreporttoanauditcommitteethiswilldecreasethedependenceoftheboardontheexternalauditors.Theauditcommitteecantaketimetounderstandtheexternalauditor’scomments,andthenviathenon-executivedirector,ensurethattheboardtakeactiononthosecomments.AppointmentofexternalauditorsAtpresent,theboardofConoyCoappointtheexternalauditors.Thisraisesissuesofindependenceastheboardmaybecometoofamiliarwiththeexternalauditorsandsoappointonthisfriendshipratherthanmerit.Ifanauditcommitteeisestablished,thenthiscommitteecanrecommendtheappointmentoftheexternalauditors.Thecommitteewillhavethetimeandexpertisetoreviewthequalityofserviceprovidedbytheexternalauditors,removingtheindependenceissue.Corporategovernancerequirements–bestpracticeConoyCodonotneedtofollowcorporategovernancerequirements(thecompanyisnotlisted).However,notfollowingthoserequirementsmaystarttohaveadverseeffectsonConoy.Forexample,ConoyCo’sbankisalreadyconcernedaboutthelackoftransparencyinreporting.EstablishinganauditcommitteewillshowthattheboardofConoyCoarecommittedtomaintainingappropriateinternalsystemsinthecompanyandprovidingthestandardofreportingexpectedbylargecompanies.Obtainingthenewbankloanshouldalsobeeasierasthebankwillbesatisfiedwithfinancialreportingstandards.Givennonon-executives–independentadvicetoboardCurrentlyConoyCodoesnothaveanynon-executivedirectors.Thismeansthatthedecisionsoftheexecutivedirectorsarenotbeingchallengedbyotherdirectorsindependentofthecompanyandwithlittleornofinancialinterestinthecompany.Theappointmentofanauditcommitteewithonenon-executivedirectorontheboardofConoyCowillstarttoprovidesomenon-executiveinputtoboardmeetings.Whilenotsufficientintermsofcorporategovernancerequirements(aboutequalnumbersofexecutiveandnon-executivedirectorsareexpected)itdoesshowtheboardofConoyCoareattemptingtoestablishappropriategovernancesystems.AdviceonriskmanagementFinally,thereareothergeneralareaswhereConoyCowouldbenefitfromanauditcommittee.Forexample,lackofcorporategovernancestructuresprobablymeansConoyCodoesnothaveariskmanagementcommittee.Theauditcommitteecanalsoprovideadviceonriskmanagement,helpingtodecreasetheriskexposureofthecompany.

正确答案：
(b) (i) Currently there are many rules on how gains and losses on tangible non current assets should be reported and these
have traditionally varied from country to country. The main issues revolve around the reporting of depreciation,
disposal/revaluation gains and losses, and impairment losses. The reporting of such elements should take into account
whether the tangible non current assets have been revalued or held at historical cost. The problem facing standard
setters is where to report such gains and losses.The question is whether they should be reported as part of operating
activities or as ‘other gains and losses’.
Holding gains arising on the sale of tangible non current assets could be reported separately from operating results so
that the latter is not obscured by an asset realisation that reflects more a change in market prices than any increase in
the operating activity of the entity. Other changes in the carrying amounts of tangible non current assets will be reported
as part of the operating results. For example, the depreciation charge tries to reflect the consumption of the asset by the
entity and as such is not a holding loss. There may be cases where the depreciation charge does not reflect the
consumption of economic benefits. For example, the pattern and rate of depreciation could have been misjudged
because the asset’s useful life has been assessed incorrectly. In this case, when an asset is sold any excess or shortfall
of depreciation may need to be dealt with in the operating result.
Impairment is another factor to consider in reporting gains and losses on tangible non current assets. Impairment is
effectively accelerated depreciation. Impairment arises when the carrying amount of the asset is above its recoverable
amount. It follows therefore that any impairment loss should be reported as part of the operating result. Any losses on
disposal, to the extent that they represent impairment, could therefore be reported as part of the operating results. Any
losses which represent holding losses could be reported in ‘other gains and losses’. The difficulty will be differentiating
between holding losses and impairment losses. There will have to be clear and concise definitions of these terms or it
could lead to abuse by companies in their quest to maximise operating profits.
A distinction should be made between gains and losses arising on tangible non current assets as a result of revaluations
and those arising on disposal. The nature of the gain or loss is essentially the same although the timing and certainty
of the gain/loss is different. Therefore revaluation gains/losses may be reported in the ‘other gains and losses’ section.
Where an asset has been revalued, any loss on disposal that represents an impairment would be charged to operating
results and any remaining loss reported in ‘other gains and losses’.
Essentially, gains and losses should be reported on the basis of the characteristics of the gains and losses themselves.
Gains and losses with similar characteristics should be reported together thus helping the comparability of financial
performance nationally and internationally.

正确答案：
(b) Increased information disclosure benefits users by reducing the likelihood that they will misallocate their capital. This is
obviously a direct benefit to individual users of corporate reports. The disclosure reduces the risk of misallocation of capital
by enabling users to improve their assessments of a company’s prospects. This creates three important results.
(i) Users use information disclosed to increase their investment returns and by definition support the most profitable
companies which are likely to be those that contribute most to economic growth. Thus, an important benefit of
information disclosure is that it improves the effectiveness of the investment process.
(ii) The second result lies in the effect on the liquidity of the capital markets. A more liquid market assists the effective
allocation of capital by allowing users to reallocate their capital quickly. The degree of information asymmetry between
the buyer and seller and the degree of uncertainty of the buyer and the seller will affect the liquidity of the market as
lower asymmetry and less uncertainty will increase the number of transactions and make the market more liquid.
Disclosure will affect uncertainty and information asymmetry.
(iii) Information disclosure helps users understand the risk of a prospective investment. Without any information, the user
has no way of assessing a company’s prospects. Information disclosure helps investors predict a company’s prospects.
Getting a better understanding of the true risk could lower the price of capital for the company. It is difficult to prove
however that the average cost of capital is lowered by information disclosure, even though it is logically and practically
impossible to assess a company’s risk without relevant information. Lower capital costs promote investment, which can
stimulate productivity and economic growth.
However although increased information can benefit users, there are problems of understandability and information overload.
Information disclosure provides a degree of protection to users. The benefit is fairness to users and is part of corporate
accountability to society as a whole.
The main costs to the preparer of financial statements are as follows:
(i) the cost of developing and disseminating information,
(ii) the cost of possible litigation attributable to information disclosure,
(iii) the cost of competitive disadvantage attributable to disclosure.
The costs of developing and disseminating the information include those of gathering, creating and auditing the information.
Additional costs to the preparers include training costs, changes to systems (for example on moving to IFRS), and the more
complex and the greater the information provided, the more it will cost the company.
Although litigation costs are known to arise from information disclosure, it does not follow that all information disclosure leads
to litigation costs. Cases can arise from insufficient disclosure and misleading disclosure. Only the latter is normally prompted
by the presentation of information disclosure. Fuller disclosure could lead to lower costs of litigation as the stock market would
have more realistic expectations of the company’s prospects and the discrepancy between the valuation implicit in the market
price and the valuation based on a company’s financial statements would be lower. However, litigation costs do not
necessarily increase with the extent of the disclosure. Increased disclosure could reduce litigation costs.
Disclosure could weaken a company’s ability to generate future cash flows by aiding its competitors. The effect of disclosure
on competitiveness involves benefits as well as costs. Competitive disadvantage could be created if disclosure is made relating
to strategies, plans, (for example, planned product development, new market targeting) or information about operations (for
example, production-cost figures). There is a significant difference between the purpose of disclosure to users and
competitors. The purpose of disclosure to users is to help them to estimate the amount, timing, and certainty of future cash
flows. Competitors are not trying to predict a company’s future cash flows, and information of use in that context is not
necessarily of use in obtaining competitive advantage. Overlap between information designed to meet users’ needs and
information designed to further the purposes of a competitor is often coincidental. Every company that could suffer competitive
disadvantage from disclosure could gain competitive advantage from comparable disclosure by competitors. Published figures
are often aggregated with little use to competitors.
Companies bargain with suppliers and with customers, and information disclosure could give those parties an advantage in
negotiations. In such cases, the advantage would be a cost for the disclosing entity. However, the cost would be offset
whenever information disclosure was presented by both parties, each would receive an advantage and a disadvantage.
There are other criteria to consider such as whether the information to be disclosed is about the company. This is both a
benefit and a cost criterion. Users of corporate reports need company-specific data, and it is typically more costly to obtain
and present information about matters external to the company. Additionally, consideration must be given as to whether the
company is the best source for the information. It could be inefficient for a company to obtain or develop data that other, more
expert parties could develop and present or do develop at present.
There are many benefits to information disclosure and users have unmet information needs. It cannot be known with any
certainty what the optimal disclosure level is for companies. Some companies through voluntary disclosure may have
achieved their optimal level. There are no quantitative measures of how levels of disclosure stand with respect to optimal
levels. Standard setters have to make such estimates as best they can, guided by prudence, and by what evidence of benefits
and costs they can obtain.