2022年ACCA-CAT考试模拟考试题及答案（一）

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1、3The'personspecificationJisderivedfromthejobdescription.

Required:

(a)Explainwhatismeantbytheterms:

(i)'personspecificationJ;(4marks)

正确答案：

3Overview:

IAtraditionaIjobdescriptioncanonlylistoroutIinethetangibIeelementsofajob.Aswork

becomesmorechaiIenging,more

□informationisrequiredabouttheskillsneededtoperform,thatjob.Apersonspecification

isofgreatervaIueintheprofessional

IIsector,whereitisinappropriatetoassumerepetitionandwherethereisagreaterdegreeof

discretioninperformingthetask.

□Part(a):

II(i)Apersonspecification-alsoreferredtoasapersonnelspecification-providesthe

organisationwithaprofiIeofthekindof

□personthatwouldmatchtheneedsofthepost.ItsetsoutinwrittendetaiItheeducation,

quaIifications,training,experience,

IpersonaIattributesandcompetenciesaposthoIdermustpossesstoperform,thetasktothe

satisfactionoftheorganisation.

□ItdescribesthepersonneededtofuIfiIthetask.

□

2、(ii)Identifythepointsthatmustbeconfirmedandanyactionnecessaryinorderforcapital

treatmentto

applytothetransaction.(4marks)

正确答案：

(ii)Ensuringcapitaltreatment

□ForthecapitaItreatmenttoapply,anumberofconditionsneedtobesatisfiedsuchthatthe

followingpointsneedtobe

□confirmed.

□-ThebusinessofAcruxLtdconsistswhoIIyormainlyofthecarryingonofatradeasopposed

tothemakingof

□investments.

□-SpicaisUKresidentandordinarilyresidentdespiteIivinginboththeUKandSolaris.

□-Thetransactionisbeingcarriedoutforthepurposeofthecompany,stradeandisnotpart

ofaschemeintended

□toavoidtax.ThisislikelytobethecaseasHMRCacceptthatamanagementdisagreementover

therunningof

□thecompanyhasanadverseeffectontherunningofthebusiness.

□Inaddition,SpicamusthaveownedthesharesforatIeastfiveyearssothetransactionmust

nottakepIaceuntiI

□1October2008.

3、2ThedraftfinanciaIstatementsofRampion,aIimitedliabilitycompany,fortheyearended

31December2005

incIudedthefollowingfigures:

$

Profit684,000

Closinginventory116,800

Tradereceivables248,000

AIIowanceforreceivables10,000

Noadjustmentshaveyetbeenmadeforthefollowingmatters:

(1)Thecompany,sinventorycountwascarriedouton3January2006Ieadingtothefigure

shownabove.SaIes

betweenthecIoseofbusinesson31December2005andtheinventorycounttotalled$36,000.

Therewereno

deIiveriesfromsuppIiersinthatperiod.Thecompanyfixessellingpricestoproducea40%

grossprofitonsaIes.

The$36r000saleswereincludedinthesalesrecordsinJanuary2006.

(2)$10,000ofgoodssuppliedonsaleorreturntermsinDecember2005havebeenincIuded

assalesand

receivables.Theyhadcost$6,000.On10January2006thecustomerreturnedthegoodsingood

condition.

(3)Goodsincludedininventoryatcost$18,000weresoIdinJanuary2006for$13,500.Selling

expenseswere

$500.

(4)$8,000oftradereceivablesaretobewrittenoff.

(5)TheaIIowanceforreceivablesistobeadjustedtotheequivalentof5%ofthetrade

receivabIesafterallowingfor

theabovematters,basedonpastexperience.

Required:

(a)Prepareastatementshowingtheeffectoftheadjustmentsonthecompany,snetprofit

fortheyearended

31December2005.(5marks)

正确答案：

(a)Netprofitadjustments

Profitperdraftfinancialstatements684,000

(1)Inventorymovement

Adjustmentforsates$36,000x60%21,600

(2)Goodsonsaleocreturn

Eliminationofprofit(4,000)

(3)Reductionininventory：

$18.000-($13,500-$500)(5,000)

(4)Debtswrittenoff(8,000)

(5)Increaseinallowanceforreceivables

($11.500-$10.000)(1,500)

Revisednetprofit$687,100

4、(c)CaIcuIatethetheoreticaIexrightspricepershareandthenetfundstoberaisedbythe

rightsissue,and

determineanddiscusstheIikeIyeffectoftheproposedexpansionon:

(i)thecurrentsharepriceofMertonplc;

(ii)thegearingofthecompany.

Assumethattheprice-earningsratioofMertonpIcremainsunchangedat12times.(11marks)

正确答案：

(c)Rightsissueprice=2,45x0,8=£1,96

□TheoreticaIexrightsprice=((2x2-45)+(1x1-96))/3=6-86/3=£2-29

iNewsharesissued=20mx1/2=10million

□Fundsraised=1,96x10m=£19,6miIIion

□Afterissuecostsof£300,000fundsraisedwiIIbe£19-3million

-lAnnuaIafter-taxreturngeneratedbythesefunds=19•3x0•09=£1,737,000

□NewearningsofMertonplc=1,737,000+4,500,000=£6,237,000

□Newnumberofshares=20m+10m=30million

□Newearningspershare=100x6,237,000/30,000,000=20-79pence

□Newshareprice=20,79x12=£2,49

□Theweaknessesinthisestimatearethatthepredictedreturnoninvestmentof9%mayormay

notbeachieved:thepriceearnings

□ratiodependsonthepostinvestmentshareprice,ratherthanthepostinvestmentshareprice

dependingonthe

□price-earningsratio;thecurrentearningsseemtobedeciiningandthissharepriceestimate

assumestheyremainconstant;

□infactcurrentearningsareIikeIytodecIinebecausetheoverdraftandannuaIinterestare

increasingbutoperatingprofitis

□faIIing.

□Expectedgearing=38/(60+19,3)=47-9%comparedtocurrentgearingof63%.

□Includingtheoverdraft,expectedgearing=46/(60+19-3)=58%comparedto77%.

□ThegearingispredictabIyIower,butiftheoverdraftisincIudedinthecaIcuIationthegearing

ofthecompanyisstillhigher

□thanthesectoraverage.ThepositiveeffectonfinanciaIriskcouldhaveapositiveeffect

onthecompany1sshareprice,but

Llthisisbynomeanscertain.

5、16Whichofthefollowingstatementsaboutaccountingconceptsandconventionsarecorrect?

(1)Theentityconceptrequiresthatabusinessistreatedasbeingseparatefromitsowners.

(2)Theuseofhistoricalcostaccountingtendstounderstateassetsandprofitwhenprices

arerising.

(3)TheprudenceconceptmeansthattheIowestpossiblevaIuesshouldbeappliedtoincome

andassetsandthe

highestpossibIevaIuestoexpensesandIiabiIities.

(4)ThemoneymeasurementconceptmeansthatonIyassetscapabIeofbeingreIiabIymeasured

inmonetaryterms

canbeincIudedinthebaIancesheetofabusiness.

A1and2

B2and3

C3and4

D1and4

正确答案：D

6、(b)Calculatethetaxablebenefitin2005/06ifJanweretousetheaccommodationofferedby

hisemployer.You

mayassumethattherulesforcalculatingbenefitsarethesameasin2004/05.(3marks)

正确答案：

(b)Benefit-accommodation

OIfJanacceptstheoffer,hewiIIoccupythebuiIdingforaperiodofeightmonthsinthetax

year2005/06(from6August2005

O-5ApriI2006).ThebenefitwiIIIastforsixmonths.

□ThetaxabIebenefitisthehigherof:

□(i)Therentbornebythecompany=600x6=3,600

□(ii)TheannuaI(rateable)vaIue=6,000x6/12=3,000

□i.e.£3,600.

□Inaddition,asthepropertycostsinexcessof£75,000,anadditionalbenefitarises.The

excessissubjecttotheofficialrate

□ofinterest,andiscalculatedasfoIIows:

□(155,000-75,000)x5%=4,000x6/12=2,000

□TotaItaxabIebenefitis£3,600+£2,000=£5,600.

□Tutorialnote:strictlyspeakingtheadditionalchargedoesnotapplyiftheexpensiveproperty

isrentedratherthanowned-

□thereforetheaboveanswer,whi1stthemostcommonIygivenisnottechnicaIlycorrect.Onemark

wasawardedifthe

□additionalbenefitcaIcuIationwasperformedasshownaboveandanaIternativeonemarkwas

awardediftheadditionaI

□benefitwasnotcaIcuIatedforthecorrecttechnicaIreason.

7、(b)DistinguishbetweenstrategicandoperationaIrisks,andexplainwhythesecrecyoption

wouIdbeasource

ofstrategicrisk.(10marks)

正确答案：

(b)StrategicandoperationsIrisks

□Strategicrisks

□ThesearisefromtheoveraIIstrategicpositioningofthecompanyinitsenvironment.Some

strategicpositionsgiveriseto

□greaterriskexposuresthanothers.BecausestrategicissuestypicaIIyaffectthewholeofan

organisationandnotjustoneor

□moreofitsparts,strategicriskscanpotentiaIIyconcernveryhighstakes-theycanhave

veryhighhazardsandhighreturns.

□Becauseofthis,theyaremanagedatboardIeveIinanorganisationandform.akeypartof

strategicmanagement.

□Operationalrisks

lOperationaIrisksrefertopotentiallossesarisingfromthenormalbusinessoperations.

Accordingly,theyaffecttheday-to-day

IJrunningofoperationsandbusinesssystemsincontrasttostrategicrisksthatarisefromthe

organisation1sstrategicpositioning.

lOperationaIrisksaremanagedatriskmanagementlevel(notnecessarilyboardlevel)andcan

bemanagedandmitigatedby

□internaIcontroIsystems.

□ThesecrecyoptionwouIdbeastrategicriskforthefollowingreasons.

□ItwouIdradicaIIychangetheenvironmentthatSHCisinbyreducingcompetition.ThiswouId

radicaIIychangeSHC'sstrategic

□fitwithitscompetitiveenvironment.InparticuIar,itwouIdchangeits'fiveforces,

positioningwhichwouldchangeitsrisk

□profiIe.

□ItwouIdinvolvethelargestinvestmentprogrammeinthecompany*shistorywithnewdebt

substantiallychangingthe

□company'sfinanciaIstructureandmakingitmorevuInerabIetoshorttermIiquidityprobIems

andmonetarypressure(interest

□rates).

□11wouIdchangethewaythatstakehoIdersviewSHC,forbetterorworse.11isa4crisisissueJ,

certaintopolariseopinioneither

□way.

□11wiIIchangetheeconomicsoftheindustrytherebyradicallyaffectingfuturecost,revenue

andprofitforecasts.

□TheremayberetaIiatorybehaviourbySHC'scIosecompetitoron25%ofthemarket.

□[TutoriaInote:simiIarreasonsifrelevantandweIIarguedwiIIattractmarks]

8、(iii)ExplainthepotentiaIcorporationtax(CT)impIicationsofTayLimitedtransferringwork

toTrentLimited,

andsuggesthowthesecanbeminimisedoreIiminated.(3marks)

正确答案：

(iii)Tradinglossesmaynotbecarriedforwardwhere,withinaperiodofthreeyearsthere

isbothachangeintheownership

□ofacompanyandamajorchangeinthenatureorconductofitstrade.Thetransferofwork

fromTayLimitedtoTrent

□Limitedislikelytoconstituteamajorchangeinthenatureorconductofthelatter,strade.

Asaconsequence,anytax

□lossesatthedateofacquisitionwiIIbeforfeited.AssumingIosseswereincurreduniformIy

in2005,thetaxlossesatthe

□dateofacquisitionwere£380,000(300,000+2/3x120,000)).Thisisworth£114,000assuming

acorporationtax

□rateof30%.

□Thus,TayLimitedshouIdnotconsidertransferringanytradetoTrentLimiteduntiIafterthe

thirdanniversaryofthedate

lofthechangeofownershipi.e.notbefore1September2008.Asthetradesaresimilar,there

shouldbeIittIeproblem

Iintransferringworkfromthatdateonwards.

9、(ii)DeemaCo.(4marks)

正确答案：

(ii)DeemaCo

□TheclaimisaneventafterthebaIancesheetdate.Iftheaccidentoccurredpriortotheyear

endof30September2007,

□theclaimgivesadditionalevidenceofayearendcondition,andthusmeetsthedefinitionof

anadjustingpostbaIance

□sheetevent.InthiscasethematterappearstohavebeenproperIydisciosedinthenotesto

thefinancialstatementsper

□IAS10EventsAftertheBaIanceSheetDateandIAS37Provisions,ContingentLiabiIitiesand

ContingentAssets.A

□provisionwouldonlybenecessaryiftheclaimwasprobabletosucceedandthereissufficient

appropriateevidencethat

□thisisnotthecase.Thereisthereforenodisagreement,andnoIimitationonscope.

□ThereforethesenioriscorrecttoproposeanunquaIifiedopinion.

□However,itisnotnecessaryfortheauditreporttocontainanemphasisofmatterparagraph.

□ISA701ModificationstotheIndependentAuditor'sReportstatesthatanemphasisofmatter

paragraphshouldbeused

□tohighIightamatterwherethereissignificantuncertainty.

□UncertaintiesarenormaIlyonlyregardedassignificantiftheyinvolvealevelofconcernabout

thegoingconcernstatus

□ofthecompanyorwouIdhaveanunusuaIIygreateffectonthefinancialstatements.Thisis

notthecasehereasthere

□isenoughcashtopaythedamagesintheunIikeIyeventthattheclaimgoesagainstDeemaCo.

Thisappearstobea

□one-offsituationwithalowriskoftheestimatebeingsubjecttochangeandthusthereis

nosignificantuncertainty.

10、(b)AdviseSergioontheappropriatenessofinvestinginadomesticrentaIpropertyinview

ofhispersonaI

circumstancesandrecommendsuitableaIternativeinvestmentsgivingreasonsforyouradvice.

(4marks)

正确答案：

(b)Sergio'sinvestments

□SergioaimstoIeaveasubstantiaIassettohisfamilyonhisdeath.Accordingly,inviewof

hisage,heisrighttobeconsidering

□investinginanassetwhosevaIueisunIikeIytofaIIsuddenIy,suchasadomesticrentaIproperty.

However,itmustbe

□recognisedthatalthoughthevaIueofIandandbuiIdingscanusuaIIybereliedontoincrease

overalongperiodoftime,its

IIvaIuemayfaIIoverashorterperiod.TheonlyinvestmentsthatcannotfaIIinvaluearecash

deposits,althoughtheydo,of

□course,faIIinreaItermsduetotheeffectsofinflation.

iISergioshouldconsiderwhetherornothewishestoincreasehisannuaIincome.Thereturnon

capitalinvestedinadomestic

□rentaIpropertyisuniikeIytobeveryhighduetotherecentincreasesinpropertyvaIuesin

theUK.Also,thereareIikeIytobe

□periodswhenthehouseisunoccupiedduringwhichnoincomewillbegenerated.Ifitisimportant

toSergiotogenerate

□additionsIincomeheshouIdconsiderotherIow-riskinvestmentswithamorereIiabIeandhigher

rateofreturn,forexampIe,

□giItedgedstocks,unittrustsandcashdeposits.

□SergiomustaIsodecidewhetheritisimportanttohimtobeabletoaccesscapitaIquickly,

asitisusuaIIynotpossibIeto

□realisethecapitalinvestedinlandandbuiIdingsatshortnotice.Ifthisisimportant,Sergio

shouIdconsiderholdingsomeof

□hiscapitalincashdepositsorotherliquidinvestments,egunittrusts.

□SergiocouIdinvestupto£7,000eachyearinanindividuaIsavingsaccount(ISA).Amaximum

of£3,000canbeheIdasa

□cashdepositwiththebalanceinvestedinquotedshares.Theincomeandgainsarisingonthe

fundsinvestedwouldbe

□exemptfrombothincometaxandcapitaIgainstax.ThiswouIdbeareIativeIyIowriskinvestment

andwouldaIsobe

□accessibIequicklyifrequired.

11、(b)ThemanagementofDivisionChasidentifiedtheneedtoachievecostsavingsinorder

tobecomemore

competitive.TheyhavedecidedthatananalysisandinvestigationofquaIitycostsintofour

sub-categorieswiII

provideafocusforperformancemeasurementandimprovement.

Required:

IdentifytheFOURsub-categoriesintowhichquaIitycostscanbeanaIysedandprovideexampIes

(which

mustrelatetoDivisionC)ofeachofthefoursub-categoriesofquaIitycostthatcanbe

investigatedinorder

thatoveraIIcostsavingsmightbeachievedandhencetheperformanceimproved.(8marks)

正确答案：

(b)QuaIitycostsmaybemonitoredbymeasuringcostsofnon-conformanceandcostsof

conformance.

□Costsofnon-conformanceoccurwhentheproductfailstoreachthedesignquaIitystandards.

Suchcostsmaybesubdivided

□intointernaIfaiIurecostsandexternaIfaiIurecosts.

IIInternalfailurecostsoccurwhenthefaiIureisdetectedbeforethetransferoftheproduct

tothecustomer.

□ExternaIfaiIurecostsoccurwhenthefailuretoreachtherequiredstandardsisnotdetected

untiIaftertheproducthasbeen

□transferredtothecustomer.

ICostsofconformancearethoseincurredinreducingoreliminatingthecostsofnon-conformance.

Suchcostsmaybe

□subdividedintoappraisaIcostsandpreventioncosts.

□AppraisaIcostsarethoseassociatedwiththeevaIuationofitemssuchaspurchasedmateriaI

andservicesinordertoensure

□thattheyconform,totheagreedspecification.

□PreventioncostsarethoseassociatedwiththeimplementationofaquaIityimprovementprogramme.

Suchcostsareplanned

□inadvanceandtheirimplementationshouldleadtocontinuousimprovement.

OExampIesofquaIitycostsreIevanttoDivision0mayincIude:

□Internalfailurecosts:costofmaterialsscrappedduetopoorreceiptandstorageprocedures

orlossesofCCoutputduetopoor

□processingroutines.

□ExternaIfaiIurecosts:costofquaIityprobIemswithbatchofCCnotdetecteduntiIithas

reachedDivisionB.Thismayrequire

□freereplacementofthebatchandcompensationforlossofoutputbyDivisionB.

□Appraisalcosts:evaluationofpurchasedmaterialandservicesinrelationtothemanufacture

ofCCtoensurethatitconforms

□totheagreedspecification;e.g.inspectionandtestingbeforeuse.

□Preventioncosts:thecostofimpIementationofstafftrainingandthecostsofequipmenttesting

toensurethatitconformsto

□thespecificationstandardsrequiredfortheproductionofCC.

□(AIternativerelevantexampIeswouIdbeaccepted)

12XRoyCrawfordhasarguedforareductioninboththeproductrangeandcustomerbasetoimprove

company

performance.

(b)AssesstheoperationaladvantagesanddisadvantagestoBonarPaintofchoosingsucha

strategy.

(15marks)

正确答案：

(b)Divestmentofproductsorpartsofthebusinessisoneofthemostdifficultstrategic

decisions.AsapparentinBonarPainta

□reductionintheproductsandcustomersservedbythefirmisIikeIytocausesignificantchanges

tothefirm,svaIuechainand

□system.CurrentIyBonarPaintsuppIiesitscustomers,regardIessofsize,directIyandthis

inevitabIymeansthattheir

□distributioncostsareincreased.Thereductioninproductsandcustomersmayallowachoice

tobemadeaboutthecostsof

I[supplyingcustomersdirectIyasagainstusingdistributorstohandlethesmalIercustomers.

IIInusingthevaluechainoneisIookingtoidentifythesignificantcostactivitiesandhow

thosecostsbehave.Somecostsmay

IbeaffectedbytheoveraIIsizeofthefirme.g.advertisingwhiIeothersaffectedbythebatch

sizebeingprocessed.Thechangetofewerproductswillleadtoabiggerbatchsizeandanumber

ofpositiveconsequencesforcosts.ThevaIuechain'smajor

□benefitisinidentifyingandquantifyingtheIinksthatexistbetweenvariousactivitieswithin

thefirmandbetweenthefirm

□anditscustomersandsuppIiers.InBonarPaint'scasedoesareductioninproductrangeIead

toIessproductfaiIuresand

□consequentwarrantycIaims?DoessimpIifyingtheproductrangeIeadtoshorterIeadtimesand

betterdeliverytime

□performanceforitscustomers?Aboveall,agoodunderstandingofitsvaIuechainwiIIletit

knowifitchangesanactivitywhat

□aretheconsequencesforotherpartsofthesystem.

□Intermsofreducingtheproductrange,beforesuchadecisionistakenBonarPaintmustcarry

outathoroughanalysisofthe

□patternofcustomerdemandforeachpainttype.InaIIprobabiIityitwillfindthat80%of

itssaIescomefrom20%ofits

□productrange.HavinggiventhisquaIification,reducingtheproductrangecanhaveanumber

ofbeneficialresultsonother

□partsofthevaIuechain.TheimmediateeffectislikelytobethatBonarPaintproducesfewer

batchesoveragiventimeperiod

□butproducestheminIargerquantities.Thiswillbringcostsavingsbuttheimpactonother

partsofthevaIuechainisequaIIy

□important.Thebeneficialeffectsare:

□-WithasmalIerproductrangethecontroIofrawmateriaIsandfinishedinventorywiIIbe

simpIifiedaffectinginboundand

□outboundIogistics.ThiswiIIimprovetheinventoryturnandmakeforbetterproduct

availabiIity.

□-WithanimprovedinventoryturnthiswiIIreducethefirm'sworkingcapitaIneedsandreIease

significantamountsof

□cash.

□-AsimpleroperationsprocessshouldfaciIitatestaffsavingsandsupportmoreautomation.

□-Warrantyclaimsandsupportcostscouldbereduced.

□-BonarPaintwiIIbepurchasingfewerrawmateriaIsbutingreatervoIumeandonamorereguIar

basis.ThiswiIIleadto

□improvedpriceanddeliverytermsfromitssuppIiers.

□-BonarPaintcanofferimprovedproductreliabilityandbetterdeIiverytoitscustomersand

shouIdimproveitsmarket

□share.

Ilintermsofoperationaldisadvantages,thesethereforearelargelyintermsoftheimpacton

customerserviceIeveIsseenin

Itermsofproductrangeavailability.Onceagainitisimportanttohaveaccurateinformation

onthesalesandprofitabiIityof

ileachproductsoinformeddivestmentdecisionscouldbetaken.Caremustbetakentoidentify

anypaints,whichthough

□orderedinfrequentIy,andinsmaIIquantitiesareapre-cursorforcustomersorderingother

paints.Someimportantcustomers

□mayrequirethatthefulIrangeoftheirpaintneedsaremetinordertocontinuebuyingfrom

BonarPaint.

□Reductionoftheproductrangeandcustomerbaseisanimportantstrategicdecision.EIiminating

non-contributorsor'dog'

□productsbothintermsofpaintsandcustomersisakeypartofmanagingtheproductportfolio.

However,inertiabothinterms

□ofproductsandcustomersisareaIstrategicweakness.IntermsofthethreetestsofsuitabiIity,

acceptabiIityandfeasibiIity

□theanalysissuggeststhatonlyacceptabiIityislikelytobeanissue.TonyEdmundsneedsto

beconvineedthatitisan

□appropriatestrategytoadopt.ItistheIackofaccuratesaIesanalysisthat