了解一下！ACCA在中国的发展前景

正确答案：
(b) The directors of GHG should be mindful that the effectiveness of a locally employed workforce within Tomorrowland will be
influenced by a number of factors including the following:
The availability of local skills
If Tomorrowland is a lower wage economy it is quite conceivable that a sufficient number of employees possessing the
requisite skills to undertake the construction of a large hotel cannot be found. If there are insufficient local resources then this
would necessitate the training of employees in all aspects of building construction. This will incur significant costs and time
and needs to be reflected in any proposed timetable for construction of the hotel. As far as the operation of the hotel is
concerned then staff will have to be recruited and trained which will again give rise to significant start-up costs. However, this
should not present the directors of GHG with such a major problem as that of training construction staff. Indeed, it is highly
probable that GHG would use its own staff in order to train new recruits.
Attitudes to work
The prevailing culture within Tomorrowland will have a profound impact on attitudes to work of its population. Attitudes to
hours of work, timekeeping and absenteeism vary from culture to culture. For example, as regards hours of work in the
construction industry in countries which experience very hot climates, work is often suspended during the hottest part of each
day and recommenced several hours later when temperatures are much cooler. The directors of GHG need to recognise that
climatic conditions not only affect the design of a building but also its construction.
A potentially sensitive issue within regarding the use of local labour in the construction of the hotel lies in the fact that national
holidays and especially religious holidays need to be observed and taken into consideration in any proposed timetable for
construction of the hotel. As regards the operation of a hotel then consideration needs to be given to the different cultures
from which the guests come. For example, this will require a detailed consideration of menus to be offered. However, it might
well be the case that the local population might be unwilling to prepare dishes comprising ingredients which are unacceptable
to their culture due to, for example, religious beliefs.
(Note: other relevant factors would be acceptable.)

正确答案：
(ii) Principal audit procedures – recoverability of deferred tax asset
– Obtain a copy of Bluebell Co’s current tax computation and deferred tax calculations and agree figures to any
relevant tax correspondence and/or underlying accounting records.
– Develop an independent expectation of the estimate to corroborate the reasonableness of management’s estimate.
– Obtain forecasts of profitability and agree that there is sufficient forecast taxable profit available for the losses to be
offset against. Evaluate the assumptions used in the forecast against business understanding. In particular consider
assumptions regarding the growth rate of taxable profit in light of the underlying detrimental trend in profit before
tax.
– Assess the time period it will take to generate sufficient profits to utilise the tax losses. If it is going to take a number
of years to generate such profits, it may be that the recognition of the asset should be restricted.
– Using tax correspondence, verify that there is no restriction on the ability of Bluebell Co to carry the losses forward
and to use the losses against future taxable profits.
Tutorial note: in many tax jurisdictions losses can only be carried forward to be utilised against profits generated
from the same trade. Although in the scenario there is no evidence of such a change in trade, or indeed any kind
of restriction on the use of losses, it is still a valid audit procedure to verify that this is the case

正确答案：
2 IFRS3 (Revised) is a further development of the acquisition model and represents a significant change in accounting for business
combinations. The consideration is the amount paid for the business acquired and is measured at fair value. Consideration will
include cash, assets, contingent consideration, equity instruments, options and warrants. It also includes the fair value of all equity
interests that the acquirer may have held previously in the acquired business. The principles to be applied are that:
(a) a business combination occurs only in respect of the transaction that gives one entity control of another
(b) the identifiable net assets of the acquiree are re-measured to their fair value on the date of the acquisition
(c) NCI are measured on the date of acquisition under one of the two options permitted by IFRS3 (Revised).
An equity interest previously held in the acquiree which qualified as an associate under IAS28 is similarly treated as if it were
disposed of and reacquired at fair value on the acquisition date. Accordingly, it is re-measured to its acquisition date fair value, and
any resulting gain or loss compared to its carrying amount under IAS28 is recognised in profit or loss. Thus the 30% holding in
the associate which was previously held will be included in the consideration. If the carrying amount of the interest in the associate
is not held at fair value at the acquisition date, the interest should be measured to fair value and the resulting gain or loss should
be recognised in profit or loss. The business combination has effectively been achieved in stages.
The fees payable in transaction costs are not deemed to be part of the consideration paid to the seller of the shares. They are not
assets of the purchased business that are recognised on acquisition. Therefore, they should be expensed as incurred and the
services received. Transaction costs relating to the issue of debt or equity, if they are directly attributable, will not be expensed but
deducted from debt or equity on initial recognition.
It is common for part of the consideration to be contingent upon future events. Marrgrett wishes some of the existing
shareholders/employees to remain in the business and has, therefore, offered share options as an incentive to these persons. The
issue is whether these options form. part of the purchase consideration or are compensation for post-acquisition services. The
conditions attached to the award will determine the accounting treatment. In this case there are employment conditions and,
therefore, the options should be treated as compensation and valued under IFRS2 ‘Share based payment’. Thus a charge will
appear in post-acquisition earnings for employee services as the options were awarded to reward future services of employees
rather than to acquire the business.
The additional shares to a fixed value of $50,000 are contingent upon the future returns on capital employed. Marrgrett only wants
to make additional payments if the business is successful. All consideration should be fair valued at the date of acquisition,
including the above contingent consideration. The contingent consideration payable in shares where the number of shares varies
to give the recipient a fixed value ($50,000) meets the definition of a financial liability under IAS32 ‘Financial Instruments:
Presentation’. As a result the liability will have to be fair valued and any subsequent remeasurement will be recognised in the
income statement. There is no requirement under IFRS3 (Revised) for the payments to be probable.
Intangible assets should be recognised on acquisition under IFRS3 (Revised). These include trade names, domain names, and
non-competition agreements. Thus these assets will be recognised and goodwill effectively reduced. The additional clarity in
IFRS3 (Revised) could mean that more intangible assets will be recognised on acquisition. As a result of this, the post-combination
income statement may have more charges for amortisation of the intangibles than was previously the case.
The revised standard gives entities the option, on a transaction by transaction basis, to measure non-controlling interests (NCI) at
the fair value of the proportion of identifiable net assets or at full fair value. The first option results in measurement of goodwill on
consolidation which would normally be little different from the previous standard. The second approach records goodwill on the
NCI as well as on the acquired controlling interest. Goodwill is the residual but may differ from that under the previous standard
because of the nature of the valuation of the consideration as previously held interests are fair valued and also because goodwill
can be measured in the above two ways (full goodwill and partial goodwill). The standard gives entities a choice for each separate
business combination of recognising full or partial goodwill. Recognising full goodwill will increase reported net assets and may
result in any future impairment of goodwill being of greater value. Measuring NCI at fair value may have some difficulties but
goodwill impairment testing may be easier under full goodwill as there is no need to gross-up goodwill for partly-owned
subsidiaries. The type of consideration does not affect goodwill regardless of how the payment is structured. Consideration is
recognised in total at its fair value at the date of acquisition. The form. of the consideration will not affect goodwill but the structure
of the payments can affect post-acquisition profits. Contingent payments which are deemed to be debt instruments will be
remeasured at each reporting date with the change going to the income statement.
Marrgrett has a maximum period of 12 months to finalise the acquisition accounting but will not be able to recognise the
re-organisation provision at the date of the business combination. The ability of the acquirer to recognise a liability for reducing or
changing the activities of the acquiree is restricted. A restructuring provision can only be recognised in a business combination
when the acquiree has at the acquisition date, an existing liability which complies with IAS37 ‘Provisions, contingent liabilities and
contingent assets’. These conditions are unlikely to exist at the acquisition date. A restructuring plan that is conditional on the
completion of a business combination is not recognised in accounting for the acquisition but the expense will be met against
post-acquisition earnings.
IAS27 (Revised) uses the economic entity model whereas previous practice used the parent company approach. The economic
entity model treats all providers of equity capital as shareholders of the entity even where they are not shareholders in the parent.
A partial disposal of an interest in a subsidiary in which control is still retained is seen as a treasury transaction and accounted for
in equity. It does not result in a gain or loss but an increase or decrease in equity. However, where a partial disposal in a subsidiary
results in a loss of control but the retention of an interest in the form. of an associate, then a gain or loss is recognised in the whole
interest. A gain or loss is recognised on the portion that has been sold, and a holding gain or loss is recognised on the interest
retained being the difference between the book value and fair value of the interest. Both gains/losses are recognised in the income
statement.

正确答案：

(ii) [Donald’s address] [Firm’s address]
Dear Donald [Date]
I understand that you have incurred a tax loss in your first year of trading. The following options are available in respect
of this loss.
1. The first option is to use the trading loss against other forms of income in the same year. If such a claim is made,
losses are offset against income before personal allowances.
Any excess loss can still be offset against capital gains of the year. However, any offset against capital gains is
before both taper relief and annual exemptions.