ACCAF1考试-会计师与企业（基础阶段）模拟试题(2020-10-11)

发布时间：2020-10-11

哈喽，各位小伙伴，最近备考状态如何啊，现在就来检验下自己近段时间的学习情况吧，今日51题库考试学习网带来ACCAF1考试-会计师与企业（基础阶段）模拟试题练习14，一起来测试一下吧。

14.1 In which of the following circumstances would an organisation be better off carrying out its own recruitment, rather than using recruitment consultants?

A The organisation has a strong, traditional culture, but is now looking to introduce greater innovation and flexibility.

B The organisation does not have a specialist recruitment function, but is looking to recruit on a large scale for the first time.

C The organisation uses outside consultants in many areas of its business, and is used to managing their services effectively.

D The organisation has complex cultural, business and technical selection criteria for its staff, but is considering using a consultancy for the first time, because it requires new people urgently in order to exploit an opportunity.

答案：D

14.2 A financial consultancy firm has a job vacancy for a junior office assistant at one of its offices. Which of the following would be the most suitable external medium for the job advertisement?

A Accountancy journal

B National newspapers

C Local newspapers

答案：C

14.3 A policy of internal promotion, as opposed to external recruitment, can have positive and negative effects. Which one of the following would be negatively effected by such a policy?

A Innovation

B Succession planning

C Induction times

答案：A

14.4 Which of the following statements about reference checking is true?

A References provide objective information about a job candidate.

B Personal references are particularly valuable in assessing the qualities of a candidate.

C At least two employer references are desirable.

答案：C

14.5 Job descriptions have advantages for use in all but one of the following areas of human resource management. Which is the exception?

A Job evaluation

B Training needs analysis

C Recruitment

D Employee flexibility

答案：D

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(c) (i) Explain the inheritance tax (IHT) implications and benefits of Alvaro Pelorus varying the terms of his

father’s will such that part of Ray Pelorus’s estate is left to Vito and Sophie. State the date by which a

deed of variation would need to be made in order for it to be valid; (3 marks)

正确答案：
(c) (i) Variation of Ray’s will
The variation by Alvaro of Ray’s will, such that assets are left to Vito and Sophie, will not be regarded as a gift by Alvaro.
Instead, provided the deed states that it is intended to be effective for IHT purposes, it will be as if Ray had left the assets
to the children in his will.
This strategy, known as skipping a generation, will have no effect on the IHT due on Ray’s death but will reduce the
assets owned by Alvaro and thus his potential UK IHT liability. A deed of variation is more tax efficient than Alvaro
making gifts to the children as such gifts would be PETs and IHT may be due if Alvaro were to die within seven years.
The deed of variation must be entered into by 31 January 2009, i.e. within two years of the date of Ray’s death.

(ii) the strategy of the business regarding its treasury policies. (3 marks)

(Marks will be awarded in part (b) for the identification and discussion of relevant points and for the style. of the

report.)

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.

(iii) The effect of the restructuring on the group’s ability to recover directly and non-directly attributable input

tax. (6 marks)

You are required to prepare calculations in respect of part (ii) only of this part of this question.

Note: – You should assume that the corporation tax rates and allowances for the financial year 2006 apply

throughout this question.

正确答案：

(iii) The effect of the restructuring on the group’s ability to recover its input tax
Prior to the restructuring
Rapier Ltd and Switch Ltd make wholly standard rated supplies and are in a position to recover all of their input tax
other than that which is specifically blocked. Dirk Ltd and Flick Ltd are unable to register for VAT as they do not make
taxable supplies. Accordingly, they cannot recover any of their input tax.
Following the restructuring
Rapier Ltd will be carrying on four separate trades, two of which involve the making of exempt supplies such that it will
be a partially exempt trader. Its recoverable input tax will be calculated as follows.
– Input tax in respect of inputs wholly attributable to taxable supplies is recoverable.
– Input tax in respect of inputs wholly attributable to exempt supplies cannot be recovered (subject to the de minimis
limits below).
– A proportion of the company’s residual input tax, i.e. input tax in respect of inputs which cannot be directly
attributed to particular supplies, is recoverable. The proportion is taxable supplies (VAT exclusive) divided by total
supplies (VAT exclusive). This proportion is rounded up to the nearest whole percentage where total residual input
tax is no more than ￡400,000 per quarter.
The balance of the residual input tax cannot be recovered (subject to the de minimis limits below).
– If the de minimis limits are satisfied, Rapier Ltd will be able to recover all of its input tax (other than that which is
specifically blocked) including that which relates to exempt supplies. The de minimis limits are satisfied where the
irrecoverable input tax:
– is less than or equal to ￡625 per month on average; and
– is less than or equal to 50% of total input tax.
The impact of the restructuring on the group’s ability to recover its input tax will depend on the level of supplies made
by the different businesses and the amounts of input tax involved. The restructuring could result in the group being able
to recover all of its input tax (if the de minimis limits are satisfied). Alternatively the amount of irrecoverable input tax
may be more or less than the amounts which cannot be recovered by Dirk Ltd and Flick Ltd under the existing group
structure.

(iii) Identify and discuss an alternative strategy that may assist in improving the performance of CTC with

effect from 1 May 2009 (where only the products in (a) and (b) above are available for manufacture).

(4 marks)

正确答案：
(iii) If no new products are available then CTC must look to boost revenues obtained from its existing product portolio whilst
seeking to reduce product specific fixed overheads and the company’s other fixed overheads. In order to do this attention
should be focused on the marketing activities currently undertaken.
CTC should consider selling all of its products in ‘multi product’ packages as it might well be the case that the increased
contribution achieved from increased sales volumes would outweigh the diminution in contribution arising from
reductions in the selling price per unit of each product.
CTC could also apply target costing principles in order to reduce costs and thereby increase the margins on each of its
products. Value analysis should be undertaken in order to evaluate the value-added features of each product. For
example, the use of non-combustible materials in manufacture would be a valued added feature of such products
whereas the use of pins and metal fastenings which are potentially harmful to children would obviously not comprise
value added features. CTC should focus on delivering ‘value’ to the customer and in attempting to do so should seek to
identify all non-value activities in order that they may be eliminated and hence margins improved.

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