我在国内报考的ACCA，能在国外考试吗？

正确答案：
2 For the complex, modern business, the view that the single objective of business is to make a profit is regarded by many writers as simplistic. Peter Drucker has argued that for a business to be successful, it must address a number of objectives.
Drucker was one of the first writers to identify the dangers of the single objective of profit maximisation. Concentrating on a single objective (invariably profit) is not only unproductive but potentially harmful to the organisation and can endanger the survival of the business and seriously undermine its future. He argues that business organisations have in fact eight objectives, all of which must be addressed concurrently. These eight objectives are particularly relevant to management, bringing together as they do the need to address all the issues with which the organisation is concerned.
Market standing is the need to identify and maintain market share and to ensure the development of new products to maintain share. Without market standing, no organisation can succeed.
Innovation is the need to develop and find new products and processes; no business can survive on providing the same product or service over the long term. Innovation is fundamental to understanding growth; organisations grow by developing innovative differences to their competitors.
Productivity and ‘contributed value’ recognises the need for efficiency and the efficient use of business resources.
Physical and financial resources is a recognition of the need to use the correct and appropriate financial resources.
Profitability. The word ‘profit’ does not appear, but ‘profitability’. Here there are three important determinants, profitability as a measure of effectiveness (many businesses make a profit which in fact is a poor return on the effort produced), the need for profit so that the business can be self-financing and the need to attract new capital.
Manager performance and development is the explicit recognition that the business requires objectives and that management activity can be linked directly to those objectives.
Worker performance and attitude is recognition that it is vital to measure the performance of the workforce by such means as labour turnover. However, worker attitude is more difficult to measure, but should be attempted.
Public responsibility has become an issue in the twenty-first century. Any business needs to be aware that it is a part of the community within which it operates and is therefore part of a wider social system.

正确答案：
(c) Forensic accounting is where an assurance provider investigates a specific issue, often with a legal consequence, such as a
suspected fraud. Specifically it is the process of gathering, analysing and reporting on data for the purpose of finding facts
and/or evidence in the context of financial/legal disputes and/or irregularities. The forensic accountant will also give
preventative advice based on evidence gathered. This advice is based usually on recommendations to improve the internal
control systems to prevent and detect fraud.
The relevance here is that Webb & Co are likely to be asked to provide a forensic accounting service to Mulligan Co.
The investigation will consider two issues – firstly whether the fraud actually happened, and secondly, if a fraud has taken
place, the financial value of the fraud. The investigation should determine who has perpetrated the fraud, and collect evidence
to help prosecute those involved in the deception.
In this case the suspicion that inventory is being stolen should be investigated, as there could be other reasons for the
discrepancy found in the inventory records. For example, the discrepancy could be caused by:
– Obsolete or damaged inventory thrown away but not eliminated from the inventory records
– Despatches from the warehouse not recorded in the inventory management system
– Incoming inventory being recorded incorrectly (e.g. recorded twice in the inventory management system)
– Inventory being held at a separate location and therefore not included in the count.
If it is found that thefts have taken place, then the forensic accountant should gather evidence to:
– Prove the identity of the persons involved
– Quantify the value of inventory taken.
The evidence gathered could be used to start criminal proceedings against those found to have been involved in the fraud.

正确答案：
(ii) Principles-based approach
Advantages of a principles-based approach
The rigour with which governance systems are applied can be varied according to size, situation, stage of development
of business, etc. Organisations (in legal terms) have a choice to the extent to which they wish to comply, although they
will usually have to ‘comply or explain’. Explanations are more accepted by shareholders and stock markets for smaller
companies.
Obeying the spirit of the law is better than ‘box ticking’ (‘sort of business you are’ rather than ‘obeying rules’). Being
aware of overall responsibilities is more important than going through a compliance exercise merely to demonstrate
conformance.
Avoids the ‘regulation overload’ of rules based (and associated increased business costs). The costs of compliance have
been a cause of considerable concern in the United States.
Self-regulation (e.g. by Financial Services Authority in the UK) rather than legal control has proven itself to underpin
investor confidence in several jurisdictions and the mechanisms are self-tightening (quicker and cheaper than legislation)
if initial public offering (IPO) volumes fall or capital flows elsewhere.
Context of developing countries
Developing countries’ economies tend to be dominated by small and medium sized organisations (SMEs). It would be
very costly and probably futile, to attempt to burden small businesses with regulatory requirements comparable to larger
concerns.
Having the flexibility to ‘comply or explain’ allows for those seeking foreign equity to increase compliance whilst those
with different priorities can delay full compliance. In low-liquidity stock markets (such as those in some developing
countries) where share prices are not seen as strategically important for businesses, adopting a more flexible approach
might be a better use of management talent rather than ‘jumping through hoops’ to comply with legally-binding
constraints.
The state needs to have an enforcement mechanism in place to deal with non-compliance and this itself represents a
cost to taxpayers and the corporate sector. Developing countries may not have the full infrastructure in place to enable
compliance (auditors, pool of NEDs, professional accountants, internal auditors, etc) and a principles-based approach
goes some way to recognise this.

正确答案：
(a) A highly-geared company has an obligation to pay interest on its loans regardless of its profit level. It will show high profits if
its overall rate of return on capital is greater than the rate of interest being paid on its borrowings, but a low profit or a loss if
there is a down-turn in its profit such that the rate of interest to be paid exceeds the return on its assets.