ACCA考试F3模拟试题(2019-01-04)

发布时间：2019-01-04

Question：Which of the following statements relating to parent companies and subsidiaries are correct?

A. A parent company could consolidate a company in which it holds less than 50% of the ordinary share capital in certain circumstances.

B. Goodwill on consolidation will appear as an item in the parent company's individual statement of financial position.

C. Consolidated financial statements ignore the legal form of the relationship between parents and subsidiaries and present the results and position of the group as if it was a single entity.

The correct answers are:

A parent company could consolidate a company in which it holds less than 50% of the ordinary share capital in certain circumstances.

Consolidated financial statements ignore the legal form of the relationship between parents and subsidiaries and present the results and position of the group as if it was a single entity.

A parent may hold less than 50% of the share capital but more than 50% of the voting rights. Goodwill only appears in the consolidated statement of financial position. It is not amortised. Consolidated financial statements present the substance of the relationship between parent and subsidiaries, rather than the legal form.

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(ii) The recoverability of the deferred tax asset. (4 marks)

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.
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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

relevant percentage and ratio statistics under the following headings:

(i) Competitiveness; (5 marks)

正确答案：