ACCA考试P2模拟试题(2019-01-04)
发布时间:2019-01-04
特许公认会计师公会(The
Association of Chartered Certified Accountants)简称ACCA,成立于1904年,是目前世界上领先的专业会计师团体,也是国际学员最多、学员规模发展最快的专业会计师组织。今天我们要看的就是ACCA考试中P2科目的模拟试题,希望大家能从做题过程中提升自己。
Question:T owns 19 % of the shares of K.
Which
of the following statements most accurately sums up IAS 28's assumption about
their relationship?
A. K is assumed to not be an associated company of T.
B. K is assumed to be an associated company of T.
C. K is certain to be an associated company of T.
D. K
is certainly not an associated company of T.
The
correct answer is: K is assumed not to be an associated company of T.
The
key to associate status is the ability of the investing company to be able to
exercise significant influence over the company it has invested in.
IAS
28 has a rebuttable presumption that a holding of 20% gives this.
IAS
28 also recognises however that significant influence can sometimes be achieved
with a smaller investment.
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下面小编为大家准备了 ACCA考试 的相关考题,供大家学习参考。
3 Organisations need to recruit new employees. An important step in the process is the selection interview.
Required:
(a) Explain the purpose of the selection interview. (4 marks)
3 The interview is extensively used for the selection of new employees and in many cases is the only method of selection. However,interviews have been criticised for failing to identify appropriate candidates suitable for the organisation. It is essential therefore that professional accountants recognise both the problems and opportunities that the formal selection interview presents.
(a) The purpose of the selection interview is to find the best possible person for the position who will fit into the organisation. Those conducting the interview must also ensure that the candidate clearly understands the job on offer, career prospects and that all candidates feel that fair treatment has been provided through the selection process.In addition, the interview also gives the opportunity to convey a good impression of the organisation, whether the candidate has been successful or not.
3 Clyde Williams is facing a dilemma. He has successfully built up a small family-owned company, Concrete Solutions
Ltd, manufacturing a range of concrete based products used in making roads, pavements and walkways. The
production technology is very low tech and uses simple wooden moulds into which the concrete is poured. As a
consequence he is able to use low skilled and low cost labour, which would find it difficult to find alternative
employment in a region with high unemployment levels. The company has employed many of its workforce since its
creation in 1996. The company’s products are heavy, bulky and costly to transport. This means its market is limited
to a 30-mile area around the small rural town where the manufacturing facility is located. Its customers are a mix of
private sector building firms and public sector local councils responsible for maintaining roads and pavements. By its
nature much of the demand is seasonal and very price sensitive.
A large international civil engineering company has recently approached Clyde with an opportunity to become a
supplier of concrete blocks used in a sophisticated system for preventing coast and riverbank erosion. The process
involves interlocking blocks being placed on a durable textile base. Recent trends in global warming and pressure in
many countries to build in areas liable to flooding have created a growing international market for the patented erosion
prevention system. Clyde has the opportunity to become the sole UK supplier of the blocks and to be one of a small
number of suppliers able to export the blocks to Europe. To do it he will need to invest a significant amount in CAM
(computer aided manufacturing) technology with a linked investment in the workforce skills needed to operate the
new technology. The net result will be a small increase in the size of the labour force but redundancy for a significant
number of its existing workers either unwilling or unable to adapt to the demands of the new technology. Successful
entry into this new market will reduce his reliance on the seasonal low margin concrete products he currently produces
and significantly improve profitability.
One further complication exists. Concrete Solutions is located in a quiet residential area of its home town. Clyde is
under constant pressure from the local residents and their council representatives to reduce the amount of noise and
dust created in the production process. Any move into making the new blocks will increase the pollution problems
the residents face. There is a possibility of moving the whole manufacturing process to a site on a new industrial estate
being built by the council in a rival town. However closure of the existing site would lead to a loss of jobs in the current
location. Clyde has asked for your help in resolving his dilemma.
Required:
(a) Using models where appropriate, advise Clyde on whether he should choose to take advantage of the
opportunity offered by the international company. (12 marks)
SWOT analysis, including his personal liability to manage the strategic change would be useful. There may be a significant
investment in new technology and employee training to make the new blocks. In effect he will be forming a strategic alliance
with the international company and making significant changes to both the value chain and value system. There will be no
need to invest in sales and marketing as this will be the responsibility of its larger partner. As a major strategic option there
is a need to address issues of its suitability, acceptability and feasibility. In terms of suitability the option seems to address
many of the strategic problems attached to his current product range. It is a product that can be sold all year round and into
a much wider geographical market area. It is in terms of acceptability that the dilemma reveals itself and the impact on the
different stakeholders involved – he may find stakeholder mapping and scenario building useful in coming to a decision. As
the owner of the business he needs to assess the risk involved against the likely returns. Feasibility looks reasonably sound– new resources and skills will be needed but affordable and achievable with the support of the partner.
(b) Explain the need for a first time group auditor to analyse the group structure. (5 marks)
(b) Need to analyse the group structure
A certain amount of analysis of the group structure will be undertaken before an auditor accepts the role of group auditor,
particularly if the auditor is not directly responsible for the whole group.
An analysis of the group structure is necessary to:
■ ensure that particular attention is given to the more unusual aspects of corporate structures (e.g. partnership
arrangements that may be a joint venture, components in tax havens, shell companies and horizontal groups);
■ arrange access to information relating to all ‘significant’ components (i.e. those representing 20% or more of group
assets, liabilities, cash flows, profit or revenue), on a timely basis;
■ identify the applicable financial reporting framework for each component and any local statutory reporting requirements;
■ plan work to deal with different accounting frameworks/policies applied throughout the group and differences between
International Auditing Standards (ISAs) and national standards;
■ integrate the group audit process effectively with local statutory audit requirements;
■ identify related parties and effectively audit the completeness of disclosures in the group accounts in accordance with
IAS 24 Related Party Disclosures.
Any doubts about the group structure will need to be clarified against publicly available information as soon as possible to
ensure an effective audit of the relevant components (i.e. subsidiaries, associates and joint ventures). The auditor can then
plan the level of assurance required on each component well in advance of the year end.
Having established thoroughly the group structure from the outset the auditor will then need only to update the structure for
changes year-on-year.
(c) Critically discuss the likely effectiveness of standard questionnaires sent to other auditors as a means of
obtaining information required. (5 marks)
(c) Likely effectiveness of standard questionnaires
Most group auditors obtain information from other auditors through questionnaires in the form. of yes/no requests and/or
detailed questions.
Standard yes/no questionnaires are widely used because, for example, they:
■ can be completed more quickly by someone already familiar with their form. and content;
■ facilitate summarisation of responses from other auditors by the group auditor.
However, a standard questionnaire may be less effective than a ‘bespoke’ one in that it is likely to ask unnecessary questions.
This may result in the other auditor finding the questions to be ‘not applicable’ and regarding completion of the questionnaire
as a form-filling exercise, rather than providing the group auditor with essential information.
Nevertheless, there is a danger that questionnaires that are not based on some standard form. may overlook or otherwise omit
some significant issues and therefore fail to alert the group auditor to a potential risk area.
Thus a balance needs to be struck between requesting enough information for the group auditor to form. their own view
without requesting meaningless ‘box-ticking’ questions that do not deal with the issues. Questionnaires that get longer and
longer are likely to lose their effectiveness especially if they are to be used in different locations/jurisdictions.
Questionnaires will cover a broad range of topics such as qualifications, competence/experience, compliance with ISAs (and
ISQC 1), audit findings, subsequent events, etc. Therefore there will be a tendency to length (completeness) rather than
quality (relevance).
In conclusion, questionnaires should:
■ avoid over-use of yes/no questions which may encourage laxity;
■ not ask for information that has already been provided or which is unnecessary; and
■ be adequately tailored.
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