ACCA考试就业前景你都了解了吗？

正确答案：
(c) The usefulness of activity-based techniques is accentuated in situations where overheads comprise a significant proportion of
product costs. Manufacturing overheads comprise 30·9% of turnover during the year ended 31 May 2005. Traditional
methods of allocating overheads to products might result in product cost information which is misleading and detrimental to
managerial decision-making. Calculations of product costs are more prone to error in situations where higher levels of
overhead exist. The consequences can prove disastrous as, for example, in the under-pricing or over-pricing of products.
Since Taliesin Ltd is going to confine its activities to its home country it must be prepared to face increased competition and
this increases the need for greater visibility and more accurate product cost information.
At present, Taliesin Ltd offers a range of products which is increasing in number and this may lead to the need for a more
detailed costing system. Traditional absorption systems might well be inadequate as the number of product variants increases.
One would expect that each new product developed is more complex than its predecessors. The company would probably
start with simple Vanilla, then a few basic flavours but as Taliesin Ltd has expanded one would expect it to take longer to
originate and test new products until they are ready to be introduced. It will probably take longer to mix the ingredients for a
run of each product.
These two, development and mixing ingredients, are examples of activities which arise when new products are considered.
If traditional absorption costing and budgeting are used based on machine-time in production then the effect of these activities
would be ignored.
In order to gain a full appreciation of the impact of new product introduction activity-based techniques should be used to
guide Taliesin Ltd into the easiest way to maintain its policy of growth. It may be a better decision to expand abroad or into
new markets at home with the existing products than pursue growth by introducing new products to a dwindling number of
customers.
We are not told of the composition of the customer base of Taliesin Ltd. However, one thing we do know is that the scope of
activity-based techniques extends beyond products and services. For example, the application of activity-based costing can
provide vital information that enables management to undertake customer profitability analysis, thereby further improving
management decision-making and operating performance.

正确答案：
4 Overview:
References are used by most employers as a key part of their selection process, but mainly to verify facts about the candidate rather
than as an aid to decision making. The reference check is usually the last stage in the selection process and referees should be
contacted only after permission has been given by the applicant. Good referees are almost certain to know more about the
applicant than the selector and it would be foolish not to seek their advice or treat the reference check as a mere formality.
Part (a)
References provide further confidential information about the prospective employee. This may be of varying value, as the reliability
of all but the most factual information must be in question.
The purpose of a reference is to obtain straightforward factual information confirming the nature of the applicant’s previous job(s),
the period of employment, current pay and the circumstances for wishing to leave the present employment and to seek opinions
about the applicant’s personality and other attributes. However, allowance must be made for prejudice and charity.

正确答案：
(ii) Strategy of the business regarding its treasury policies
Treasury policies are reviewed regularly by the Board. It is group policy to account for all financial instruments as cash
flow hedges. As a result, changes in the fair values of financial instruments are deferred in reserves to the extent the
hedge is effective and released to profit or loss in the time periods in which the hedged item impacts profit or loss.
The Group contracts fixed rate currency swaps and issues floating to fixed rate interest rate swaps to meet the objective
of protecting borrowing costs. The cash flow effects of the interest rate swaps match the cash flows on the underlying
instruments so that there is no net cash flow effect from movements in market interest rates. If the interest rate swaps
had not been transacted there could have been an increase in the annual net interest payable to the Group. The strategy
of the group is to minimise the exposure to interest rate fluctuations.

正确答案：
(c) Market risk
Definition of market risk
Market risks are those arising from any of the markets that a company operates in. Most common examples are those risks
from resource markets (inputs), product markets (outputs) or capital markets (finance).
[Tutorial note: markers should exercise latitude in allowing definitions of market risk. IFRS 7, for example, offers a technical
definition: ‘Market risk is the risk that the fair value or cash flows of a financial instrument will fluctuate due to changes in
market prices. Market risk reflects interest rate risk, currency risk, and other price risks’.]
Why non-compliance increases market risk
The lack of a fully compliant committee structure (such as having a non-compliant audit committee) erodes investor
confidence in the general governance of a company. This will, over time, affect share price and hence company value. Low
company value will threaten existing management (possibly with good cause in the case of Gluck and Goodman) and make
the company a possible takeover target. It will also adversely affect price-earnings and hence market confidence in Gluck and
Goodman’s shares. This will make it more difficult to raise funds from the stock market.