考前冲刺阶段21年3月中讲义aaa直播

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Commonsensee.g.IAS37,Insurance -coverthe

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Claimreport-dateandamountclaimed fylossReplyfrominsurer–probability

IAS37Provision,CL,RecognitionofPresentobligation:LegalorConstructiveProbablefutureeconomicbenefitoutflowsMeasurereliablySingleevent(legalcase)BestestimateEvidence=Letterfrom

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IAS37Provision,CL,2012/12Q1b(y.e.

YouhavejustreceivedaphonecallfromMoSatriani,GrohlCo’sfinancedirector,inwhichhemadethefollowingcomments:‘ThereissomethingIforgottomentioninourmeeting.Ourbusinessinsurancecoversusforspecificoccasionswhenbusinessisinterrupted.Iputinaclaimon28November2012for$5millionwhichIhaveestimatedtocovertheperiodwhenourproductionwashaltedduetotheproblemwiththecorrodedcopper.Thisisnotyetrecognisedinthefinancialstatements,butIwanttomakeanadjustmenttorecognisethe$5millionasareceivableasat30November.’Required:Commentonthemattersthatshouldbeconsidered,andmendtheprocedurestobeperformed,inrespectoftheinsuranceclaim.(8Mattersto

Calculateandconcludeon5/12.5=40%ofR,materialto5/(0.3),turnasmalllosstoahugeprofit,materialtoSOPL5/180=1.8%ofTA,materialtoSOFPIAS37,iftheprobabilityofinsuranceclaimisvirtuallycertain,recogniseasreceivable;ifitlessthanthat,discloseacontingentassetinnotestoFSornoNotyetvirtuallycertain,recognisedasOverstateasset,overstate

MarginalQuestion:applytoAsforGrohlCo,itisveryunlikelytheclaimisvirtuallycertain,NoconfirmationfromClaimon28Nov,todayis3Dec,justProductionwashaltedforaweekindomesticRevenue=Loss=Claim=5m,thisisunreasonably

applytoAudit

ASPApproach=Action+Source+ ,toitcoverssuchproduction(其次 公司不会自己送钱来，公司要先报险)Reviewclaimreportsubmittedby,toensureamountclaimed5m,anddatesubmittedis28(报险时提交的文件，确认损失)Review s,e.g.customerreturninventoryimpairmentcalculation,tosupportthelossInordertoensureprobability,reviewletterfrominsurerifany;orsenddirectto CommonThereispresentobligation(couldbelegalorTobeincurredattheendofusefuleconomiclife,whichresultinfutureeconomicbenefitoutflow,andamountcanbereliablymeasuredAccountingestimates:Amount,UEL,DF–inherentlyDetaileddisclosureis2011/12

IhavejustreturnedfromameetingwiththemanagementofYewCo,andthereisamatterIwanttobringtoyourattention.YewCo’sstatementoffinancialpositionrecognisesanintangibleassetof$12·5millioninrespectofcapitalisedresearchanddevelopmentcostsrelatingtonewaircraftenginedesigns.However,marketresearchconductedbyYewCoinrelationtothesenewdesignsindicatedthattherewouldbelittledemandinthenearfutureforsuchdesigns.Managementhasprovidedwrittenrepresentationthattheyagreewiththeresultsofthemarketresearch.Currently,YewCohasacashbalanceofonly$125,000andmembersofthemanagementteamhaveexpressedconcernsthatthe isfindingitdifficulttoraiseadditionalfinance.YewCo’sdraftfinancialstatementsincludeprofitbeforetaxof$23million,andtotalassetsof$2102011/12Discusstheimplicationsoftheauditsenior’sfilenoteonthecompletionoftheauditandontheauditor’sreport,mendinganyfurtheractionsthatshouldbetakenbytheauditor.(8marks)Anyotherthingsto

Implicationoncompletionof=MatterstoMattersto

12.5/23=54.3%PBT,materialto12.5/210=5.9%TA,materialtoAsperIAS38,developmentcostcanonlybecapitalisedwhenallfollowingconditionsare–PIRATE,resourcetocomplete,abilitytouseorDevelopmentcost=12.5m,whereascash=0.125m.YewCoappearstobeshortoffinance,itisquestionablewhethersufficientfundswouldbeavailabletocompletethedevelopmentandtaketheproducttomarket.Furthermore,marketresearchreportindicateslittledemand,andmanagementagreewithit.Thisindicates hasnoabilitytouseorsellitandprobablyisnotabletogenerateFEB.Overstateasset,overstate

DiscusswithmanagementonfuturepossibleIAshouldbederecognised,withallresearchanddevelopmentcostsasoperatingCommentonthematterstobeconsideredandexintheauditevidenceyouwouldexpecttofindduringyourreviewoftheauditworkingpapersinrespectoftheissuesdescribedabove.(20marks)Itis1July20X5.YouareamanagerintheauditdepartmentofPeart&Co,afirmofCharteredCertifiedAccountants,responsiblefortheauditofLifesonCofortheyearended31March20X5.LifesonCoisanunlistedretail whichisanewaudit ofyourfirmthisyear. ’sdraftfinancialstatementsrecogniseprofitbeforetaxof$2·15million(20X4–$1·95million)andtotalassetsof$13·8million(20X4–$12·7million).Theauditisnearlycompleteandyouarereviewingtheauditworkingpapers.Theauditsupervisorhasbroughtthefollowingmatterstoyourattention:(ii)Investment

LifesonCoownsabuildingwhichithasusedasawarehousetostoreinventory.On1April20X4thebuilding,whichhadnotsufferedanyhistoricimpairments,hadacarryingamountbasedondepreciatedhistoriccostof$323,000andafairvalueof$348,000.Onthisdate,LifesonCovacatedthebuildingandmovedtheinventorytonewlargerpremises.Managementdecidedtokeepthebuildinginordertorentitoutasastoragefacilitytolocalbusinessesandtobenefitfromanyincreasesinpropertyvaluations.On31March20X5,thebuildinghadnotbeenletandithadafairvalue,accordingtoanexternalvaluer,of$353,000.Thedraftfinancialstatementsforthecurrentyearrecognisethebuildingasaninvestmentpropertyatacarryingamountof$353,000andincludeafairvaluegainof$30,000inprofitbeforetaxfortheyear.Sincereclassificationasaninvestmentproperty,depreciationhasnotbeenchargedinrelationtothebuilding.(6marks)Mattersto353,000/13.8m=2.6%ofTA,materialtoAccordingtoIAS40,IParelandand/orbuildingsheldtoearnrentalsorforcapitalappreciation,orboth.At1/4/20X4,LifesonwarehousequalifiesasIP,sincemgtdecidedtokeepthebuildinginordertorentitoutasastoragefacilitytolocalbusinessesandtobenefitfromanyincreasesinpropertyvaluations.Thefactthatthepropertyhasnotyetbeenletbythereportingdatedoesnotimpactonthisclassification.At31/3/20X5,thewarehouseisrecognisedatFV353,000andthefairvaluemodelisacceptableprovidedthetreatmentofanyotherIPheldbyLifesonisconsistent.Mattersto

Ontransferofanowner-occupiedpropertyrecognisedatdepreciatedhistoricalcost,whichhasnotbeenpreviouslyimpaired,toinvestmentpropertycarriedatfairvalue,IAS40requiresthatanyresultingincreaseinthecarryingamountshouldberecognisedinothercomprehensiveeasarevaluationsurpluswithinequity.Thereafter,anyfurtherincreaseinfairvalueisrecognisedinprofitorlossfortheyear.LifesonCo’srecognitionofthefull$30,000gaininitsprofitbeforetaxforthecurrentyearisincorrectandthereforeresultsinanoverstatementofprofitby$25,000.At1/4/20X4TransferatFVAnydifferencetreatedas

At31March20X5StateatFVAnydifferencegoestoDrDrCrCrCrDiscusswithmgt/ReviewBODminutesofmeeting/Obtainmgtwrittenrepresentation,toconfirmitsintentiontoholdthepropertytoearnrentalsandforcapitalappreciation.Inspecttitledeedsoftheproperty,toconfirmitsownershipbelongstoPhysicalinspectionofthebuilding,toverifyitsgeneralconditionandthatitisnolongeroccupiedbyLifeson.Agree tonotestoFSthisyearandpreviousyear,toconfirmFVadoptedisconsistentwithanyotherinvestmentpropertiesAgreeCVofthepropertyat1/4/20X4toNCAregister,toconfirmamountObtainindependentvaluationreport,toassessthereasonablenessofFVat1/4/20X431/3/20X5,aswellasresultingObtaindetailsoftheexternalexpertvaluer,toassesstheirprofessionalexperience,reputation,independenceandReviewthedisclosuresmadeinFS,suchasdetailsoftheexternalvaluation,toensuretheycomplywithIAS40.考试不用写这么多，看分答题IAS16IAS38IAS36减值迹象，减值测试，资产组IAS37预计负债， IFRS15收入确认的时间点/时间段IFRS9 IFRS2 IFRS13 Oninterim DueOninterim

on

onSpecimen–ForecastSOPL2018/9–ForecastSOPL2018/12–ForecastSOCF2019/3–Duediligence2019/6???2019/9–Forensicaudit+internalcontrol2019/12–Duediligence2020/3-Forecaston report,CSRreport,report,etc.

IdentifyandexinthemattersthatshouldbeconsideredinevaluatingtheinvitationtoperformanassuranceengagementontheSustainabilityReportofEastwoodCo.(12marks) performanceinformation;andAssuranceonKPI KPIreportonoffuture

BasedonhistoricalBasedonmanagementaction,mgthas ceofferonhence,realisticassumptionontimingandBasedonhypotheticalassumptionabouttimingoramount,feasibilitystudyofanewbusinessForecastSOCF-2013/12-2018/12ForecastSOPL-2014/6-2018/3&6ForecastSOFP-2012/6VizslaCoisaproducerofgreetingscardsandgiftware,thedemandforwhichisseasonalDesigncostsaremostlypayrollcostsofthestaffworkingin ’sdesignandthecostsrelatetothedesignanddevelopmentofnewproductVizslaCohasagreedwithitsbanktoclearitsoverdraftby1September2019,andthemanagementteamisconfidentthatafterthatpointthe willnotneedanoverdraftThetotal‘Otherexpenses’iscalculatedbasedon30%oftheprojectedrevenueforsix-month mendtheexaminationprocedureswhichshouldbeusedinthereviewoftheprofitforecast.(9marks)Useaccountingandauditingknowledgetogatherevidenceforlegalpurpose

Forensicinvestigation法务，类似于审计，通 Forensicaccounting法务会计，通常是针对特定的财务， 典型题：2013/6Q2bIdentifyandexinthematterstobeconsidered,andthestepstobetakeninnningtheforensicaccountingserviceandmendtheprocedurestobeperformedindeterminingamountoftheclaim(12典型题：2015/06mendtheprocedurestobeusedinperformingainvestigationontheallegedbriberypayments.(42013/6 Useaccountingandauditingknowledgetogatherevidenceforlegalpurpose

(i)Identifyandexinthematterstobeconsidered,andthestepstobetakeninnningtheforensicaccountingservice;and需要考虑)endtheprocedurestobeperformedindeterminingamountoftheclaim12 ty&（Cost&CarryingDueIdentifyriskofanypotentialbusinesse.g.险

FinancialduediligenceOperationalandITduediligenceIT3）Peopledue（合同终止成本，整合成本等）4）Regulatoryduediligence5）Environmentalduediligence典型题：2011/6Q4 inTHREEpotentialbenefitsofanexternallyprovidedduediligencetoJacobCo.(6 mendadditionalinformationwhichshouldbemadeavailableforyourfirm’sduediligencereview,andex intheneedfortheinformation典型题：2013/12Q2DiscussTHREEbenefits