点击查看：2020年ACCA考试练习试题分享18

发布时间：2020-09-04

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(a)Accounting for defined benefit pension schemes is a complex area of great importance. In some cases， the net pension liability even exceeds the market capitalisation of the company. The financial statements of a company must provide investors，analysts and companies with clear，reliable and comparable information on a company’s pension obligations，discount rates and expected returns on plan assets.

Required：

(i) Discuss the current requirements of IAS 19 ‘Employee Benefits’ as regards the accounting for actuarial gains and losses setting out the main criticisms of the approach taken and the advantages of immediate recognition of such gains and losses. (11 marks)

(ii) Discuss the implications of the current accounting practices in IAS 19 for dealing with the setting of discount rates for pension obligations and the expected returns on plan assets. (6 marks)

Professional marks will be awarded in part (a) for clarity and quality of discussion. (2 marks)

(b) Smith，a public limited company and Brown a public limited company utilise IAS 19 ‘Employee Benefits’ to account for their pension plans. The following information refers to the company pension plans for the year to 30 April 2009：

(i)At 1 May 2008，plan assets of both companies were fair valued at $200 million and both had net unrecognised actuarial gains of $6 million.

(ii)At 30 April 2009，the fair value of the plan assets of Smith was $219 million and that of Brown was $276 million.

(iii)The contributions received were $70 million and benefits paid were $26 million for both companies. These amounts were paid and received on 1 November 2008.

(iv)The expected return on plan assets was 7% at 1 May 2008 and 8% on 30 April 2009.

(v)The present value of the defined benefit obligation was less than the fair value of the plan assets at both 1 May 2008 and 30 April 2009.

(vi)Actuarial losses on the obligation for the year were negligible for both companies.

(vii)Both companies use the corridor approach to recognised actuarial gains and losses.

Required：

Show how the use of the expected return on assets can cause comparison issues for potential investors using the above scenario for illustration. (6 marks)

(25 marks)

ALL TEN questions are compulsory and MUST be attempted

1 In relation to the Civil Procedure Law of China:

(a)explain the term exclusive jurisdiction;(2 marks)

(b)state the major legal characteristics of exclusive jurisdiction,in terms of:

(i)the basis of exclusive jurisdiction;and (4 marks)

(ii)the effect of the rule of exclusive jurisdiction.(4 marks)

(10 marks)

2 In relation to the Property Law of China:

(a)explain the term right of lien;(4 marks)

(b)state THREE conditions to be met for a party to claim the right of lien.(6 marks)

(10 marks)

3 In relation to the Labour Contract Law of China:

(a) state the various powers of the labour administration in exercising its supervisory and examining functions;(2 marks)

(b) state any FOUR kinds of situations under which the labour administration may issue administrative orders to an employer for violations of Labour Contract Law.(8 marks)

(10 marks)

4 In relation to the Contract Law of China:

(a)explain the term termination of contract;(2 marks)

(b)explain and distinguish between termination of contract and dissolution of contract.(8 marks)

(10 marks)

5 In relation to the Company Law of China:

(a)state the basic rules regarding the shareholders of:

(i)a general limited liability company;(2 marks)

(ii)a sole-person limited liability company and a wholly state-owned company;and(2 marks)

(b)state the requirements for capital of:

(i)a general limited liability company;(2 marks)

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(ii) Calculate the corporation tax (CT) payable by Tay Limited for the year ended 31 March 2006, taking

advantage of all available reliefs. (3 marks)

正确答案：

 

(ii) Any increase or decrease in the group’s budgeted corporation tax liability for the year ending 30 June

2008 due to the restructuring on the assumption that trading losses will be used as efficiently as

possible. (8 marks)

正确答案：

(ii) The budgeted corporation tax liability for the year ending 30 June 2008
Following the proposed restructuring, Rapier Ltd will be carrying on four separate trades. The current year loss arising
in the Dirk trade can be offset against its total profits. Its three subsidiaries will be dormant and will not be associates
for the purpose of determining the rate of corporation tax.

(b) Advise Sergio on the appropriateness of investing in a domestic rental property in view of his personal

circumstances and recommend suitable alternative investments giving reasons for your advice. (4 marks)

正确答案：
(b) Sergio’s investments
Sergio aims to leave a substantial asset to his family on his death. Accordingly, in view of his age, he is right to be considering
investing in an asset whose value is unlikely to fall suddenly, such as a domestic rental property. However, it must be
recognised that although the value of land and buildings can usually be relied on to increase over a long period of time, its
value may fall over a shorter period. The only investments that cannot fall in value are cash deposits, although they do, of
course, fall in real terms due to the effects of inflation.
Sergio should consider whether or not he wishes to increase his annual income. The return on capital invested in a domestic
rental property is unlikely to be very high due to the recent increases in property values in the UK. Also, there are likely to be
periods when the house is unoccupied during which no income will be generated. If it is important to Sergio to generate
additional income he should consider other low-risk investments with a more reliable and higher rate of return, for example,
gilt edged stocks, unit trusts and cash deposits.
Sergio must also decide whether it is important to him to be able to access capital quickly, as it is usually not possible to
realise the capital invested in land and buildings at short notice. If this is important, Sergio should consider holding some of
his capital in cash deposits or other liquid investments, eg unit trusts.
Sergio could invest up to ￡7,000 each year in an individual savings account (ISA). A maximum of ￡3,000 can be held as a
cash deposit with the balance invested in quoted shares. The income and gains arising on the funds invested would be
exempt from both income tax and capital gains tax. This would be a relatively low-risk investment and would also be
accessible quickly if required.

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