速看！想知道非财务专业能不能考ACCA吗？

正确答案：
(ii) A company needs to be aware of the following issues:
Equity
(1) Costs incurred in issuing share capital are not allowed as a trading deduction.
(2) Distributions to investors are not allowed as a trading deduction.
(3) The cost of making distributions to shareholders are disallowable.
(4) Where profits are taxed at an effective rate of less than 19%, any profits used to make a distribution to noncorporate
shareholders will themselves be taxed at the full 19% rate.
Loan finance/debt
(1) The incidental costs of obtaining/raising loan finance are broadly deductible as a trading expense.
(2) Capital costs of raising loan finance (for example, loans issued at a discount) are not deductible for tax purposes.
(3) Interest incurred on a loan to finance a business is deductible from trading income.

正确答案：

3 ALBREDA CO

(a) Cessation of ‘home delivery’ service
(i) Matters
■ $0·6 million represents 1·4% of reported revenue (prior year 1·9%) and is therefore material.
Tutorial note: However, it is clearly not of such significance that it should raise any doubts whatsoever regarding
the going concern assumption. (On the contrary, as revenue from this service has declined since last year.)
■ The home delivery service is not a component of Albreda and its cessation does not classify as a discontinued
operation (IFRS 5 ‘Non-current Assets Held for Sale and Discontinued Operations’).
? It is not a cash-generating unit because home delivery revenues are not independent of other revenues
generated by the restaurant kitchens.
? 1·4% of revenue is not a ‘major line of business’.
? Home delivery does not cover a separate geographical area (but many areas around the numerous
restaurants).
■ The redundancy provision of $0·2 million represents 11·1% of profit before tax (10% before allowing for the
provision) and is therefore material. However, it represents only 0·6% of total assets and is therefore immaterial
to the balance sheet.
■ As the provision is a liability it should have been tested primarily for understatement (completeness).
■ The delivery vehicles should be classified as held for sale if their carrying amount will be recovered principally
through a sale transaction rather than through continuing use. For this to be the case the following IFRS 5 criteria
must be met:
? the vehicles must be available for immediate sale in their present condition; and
? their sale must be highly probable.
Tutorial note: Highly probable = management commitment to a plan + initiation of plan to locate buyer(s) +
active marketing + completion expected in a year.
■ However, even if the classification as held for sale is appropriate the measurement basis is incorrect.
■ Non-current assets classified as held for sale should be carried at the lower of carrying amount and fair value less
costs to sell.
■ It is incorrect that the vehicles are being measured at fair value less costs to sell which is $0·3 million in excess
of the carrying amount. This amounts to a revaluation. Wherever the credit entry is (equity or income statement)
it should be reversed. $0·3 million represents just less than 1% of assets (16·7% of profit if the credit is to the
income statement).
■ Comparison of fair value less costs to sell against carrying amount should have been made on an item by item
basis (and not on their totals).
(ii) Audit evidence
■ Copy of board minute documenting management’s decision to cease home deliveries (and any press
releases/internal memoranda to staff).
■ An analysis of revenue (e.g. extracted from management accounts) showing the amount attributed to home delivery
sales.
■ Redundancy terms for drivers as set out in their contracts of employment.
■ A ‘proof in total’ for the reasonableness/completeness of the redundancy provision (e.g. number of drivers × sum
of years employed × payment per year of service).
■ A schedule of depreciated cost of delivery vehicles extracted from the non-current asset register.
■ Checking of fair values on a sample basis to second hand market prices (as published/advertised in used vehicle
guides).
■ After-date net sale proceeds from sale of vehicles and comparison of proceeds against estimated fair values.
■ Physical inspection of condition of unsold vehicles.
■ Separate disclosure of the held for sale assets on the face of the balance sheet or in the notes.
■ Assets classified as held for sale (and other disposals) shown in the reconciliation of carrying amount at the
beginning and end of the period.
■ Additional descriptions in the notes of:
? the non-current assets; and
? the facts and circumstances leading to the sale/disposal (i.e. cessation of home delivery service).

正确答案：
(a) Of vital importance is the need for reliable information on which to base the decision regarding the potential investment within
Tomorrowland, since the lack of such information will only serve to increase the risk profile of GHG.
The strategic factors that ought to be considered prior to a decision being made to build and operate a hotel in Tomorrowland
are as follows:
The competition
The key notion here is that of the position of GHG relative to its competitors who may have a presence or intend to have a
presence in Tomorrowland. The strategic management accounting system should be capable of coping with changes that can
and will inevitably occur in a dynamic business environment. Hence it is crucial that changes such as, the emergence of a
new competitor, are detected and reflected within strategic plans at the earliest opportunity.
The government
The attitude of the government of Tomorrowland towards foreign organisations requires careful consideration as inevitably the
government will be the country’s largest supplier, employer, customer and investor. The directors need to recognise that the
political environment of Tomorrowland could change dramatically with a change in the national government.
Planning and control of operations within Tomorrowland
Planning and control of operations within Tomorrowland will inevitably be more difficult as GHG might not possess sufficient
knowledge of the business environment within Tomorrowland. Indeed their nearest hotel is at least 3,000 kilometres away.
It is vital the GHG gain such knowledge prior to commencing operations within Tomorrowland in order to avoid undue risks.
The sociological–cultural constraints
While it is generally recognised that there is a growing acceptability of international brands this might not be the case with
regard to Tomorrowland. The attitude towards work, managers (especially foreign nationals) and capitalist organisations could
severely impact on the degree of success achieved within Tomorrowland. In this respect it is vital that consideration is given
to recognition of the relationships in economic life including demand, price, wages, training, and rates of labour turnover and
absenteeism.
Resource utilisation
A primary consideration relates to whether or not to use local labour in the construction of the hotel. The perceived
‘remoteness’ of Tomorrowland might make it an unattractive proposition for current employees of GHG, thereby presenting the
directors of GHG with a significant problem.
Communication
Consideration needs to be given to the communication problems that arise between different countries and in this respect
Tomorrowland is probably no exception. Language barriers will inevitably exist and this needs to be addressed at the earliest
opportunity to minimise any risks to GHG.
The economic factors that ought to be considered prior to a decision being made to build and operate a hotel in Tomorrowland
are as follows:
Resource availability
The hotel should be designed having given due consideration to the prevailing climatic conditions within Tomorrowland which
might necessitate the use of specific types of building materials. It might well be the case that such building materials are not
available locally, or are in such scarce supply in which case local supply would prove to be uneconomic.
Another consideration relates to local labour being available and reliable in terms of its quality.
Currency stability/restrictions
The stability of the currency within Tomorrowland assumes critical significance because profit repatriation is problematic in
situations where those profits are made in an unstable currency or one that is likely to depreciate against the home currency,
thereby precipitating sizeable losses on exchange. Any currency restrictions need to be given careful consideration. For
example, it might be the case that hotel guests would be prohibited from paying accommodation bills in a foreign currency
which would be problematic if the local currency was weak.
Legislation
All local and International legislation should be given careful consideration. It might be the case that local legislation via
various licences or legal requirements favour local hotels.
Demand
The potential demand within Tomorrowland will be linked to the local economy. It is a developing economy and this may
bode well for GHG. However, again the need for reliable information about the size of the market, the extent of competition,
likely future trends etc is of fundamental importance.
Financing
An important decision lies in the availability and associated costs of financing in Tomorrowland which might not have mature
enough capital markets due to its developmental state. Hence GHG might need to finance using alternative currencies.
Note: Other relevant comments would be acceptable.