2025年ACCAF阶段冲刺学习资料

2025年ACCAF阶段冲刺学习资料考试时间：______分钟总分：______分姓名：______试卷说明：本试卷共分为五个部分，总时长为三小时。请仔细阅读所有题目，并根据要求作答。所有答案必须书写清晰，字迹工整。第一部分1.Definetheterm'goingconcern'asusedinfinancialreportingandexplainwhyitisafundamentalassumption.2.Describetheprincipaldifferencesbetweenthemeasurementbasisusedforfinancialassetsclassifiedasheldfortradingandthoseclassifiedasheldtomaturity.3.Explaintheconceptof'materiality'inthecontextoffinancialstatementsanddiscussitssignificanceforauditors.4.Outlinethekeyrequirementsforthepresentationofnon-currentassetsinthestatementoffinancialposition.5.Brieflydescribethepurposeofthestatementofcashflowsandthethreemainsectionsintowhichitistypicallydivided.第二部分Assumeyouareamanagementaccountantinamanufacturingcompany.Thecompanyproducestwoproducts,XandY.Thebudgetedcostsfornextmonthareasfollows:*ProductX:1unitrequires2hoursofdirectlaboratarateof£15perhour.Directmaterialscost£10perunit.Variableoverheadsareappliedatarateof£5perdirectlaborhour.Fixedoverheadsareallocatedtoproductsbasedondirectlaborhours,atarateof£8perhour.*ProductY:1unitrequires3hoursofdirectlaboratthesamerate.Directmaterialscost£15perunit.VariableoverheadsareappliedatthesamerateasProductX.FixedoverheadsareallocatedatthesamerateasProductX.ThecompanysellsProductXfor£50perunitandProductYfor£70perunit.Budgetedsalesfornextmonthare1,000unitsofProductXand800unitsofProductY.Calculatethefollowing:a.ThebudgetedcontributionmarginperunitforProductX.b.ThebudgetedcontributionmarginperunitforProductY.c.Thetotalbudgetedcontributionmarginforthecompanynextmonth.d.Thebudgetedbreak-evenpointinunitsforthecompany,assumingatotalfixedcostof£100,000.第三部分Acompanyisconsideringinvestinginnewmachinery.Thecostofthemachineryis£500,000.Itisestimatedtohaveausefullifeof5yearsandaresidualvalueof£50,000.Themachineryisexpectedtogenerateadditionalannualsalesrevenueof£200,000.Thecompanyincursadditionalannualvariablecostsof£120,000andadditionalannualfixedcostsof£30,000specificallyrelatedtothenewmachinery.Thecompanyusesthestraight-linemethodofdepreciation.Therequiredrateofreturnforthistypeofinvestmentis10%.Calculatethefollowing:a.Theannualdepreciationexpenseforthemachinery.b.Theannualaccountingprofitgeneratedbythenewmachinery.c.Thepaybackperiodfortheinvestment.d.Thenetpresentvalue(NPV)oftheinvestment,usingtheprovidedrequiredrateofreturn.(Youmayusethefollowingpresentvaluefactors:PVIFA(10%,5)=3.791;PVIF(10%,5)=0.621).第四部分Acompanyispreparingitsannualtaxreturn.Fortheyearended31December2024,thecompany'saccountingprofitbeforetaxis£250,000.Thefollowingadjustmentsarerequiredfortaxpurposes:*Unrealizedprofitoninventoryheldforsale:£20,000(fortax,inventoryshouldbevaluedatthelowerofcostornetrealizablevalue).*Depreciationonplantandmachineryforaccountingpurposesexceedstheallowabledepreciationfortaxpurposesby£15,000.*Aprovisionforbaddebtsrecognizedforaccountingpurposesof£10,000isnotallowablefortaxpurposes.*Apaymentmadetoarelatedpartyforinterestonaloanistreatedasacapitalexpenditureforaccountingpurposesbutisallowableasataxdeduction.Thecorporatetaxrateis25%.Calculatethecompany's:a.Chargeforincometaxexpensefortheyear.b.Taxpayablefortheyear.第五部分Anauditorisperformingariskassessmentprocedureforaclient,CompanyZ,fortheupcomingfinancialyear.Theauditoridentifiesthefollowingrisks:*Risk1:Theclient'smanagementhasahistoryofaggressivefinancialreporting.*Risk2:Theclientoperatesinahighlyregulatedindustrywithcomplexaccountingstandards.*Risk3:Theclient'sinternalcontrolsystemisrelativelyweak,particularlyintheareaofcashreceipts.Foreachoftheaboverisks,theauditorassessestheriskofmaterialmisstatementas'significant'butnotpervasive.Theauditorplanstoperformfurtherauditprocedurestorespondtotheserisks.Required:a.Foreachrisk,describeonespecificauditproceduretheauditormightconsiderperformingtoobtainauditevidence.b.Explaintheconceptof'materiality'andhowitrelatestotheauditor'splanningandperformanceofauditprocedures.试卷答案第一部分1.Goingconcernisanaccountingassumptionthattheentitywillcontinueitsoperationsfortheforeseeablefuture(typicallyatleast12monthsfromthereportingdate)withouttheintentionorneedtoliquidateorceasetrading.Itisfundamentalbecauseitdictatesthatassetsarevaluedandliabilitiesareclassifiedbasedontheirongoinguseandsettlementwithinthebusiness,ratherthantheirimmediatedisposalvalue.2.Financialassetsclassifiedasheldfortradingaremeasuredatfairvaluethroughprofitorloss(FVTPL),includingtransactioncosts.Heldtomaturityassetsaremeasuredatamortisedcostusingtheeffectiveinterestmethod,unlessthereisobjectiveevidenceofimpairmentorrecoveryisnolongerprobable.Heldfortradingassetsreflectmarketfluctuationsinvalueintheincomestatement,whileheldtomaturityassetsdonot,unlessimpaired.3.Materialityreferstothemagnitudeofanerrororomission,oracombinationofsuchitems,that,inlightofsurroundingcircumstances,makesitprobablethatthejudgmentofareasonablepersonrelyingonthefinancialstatementswouldhavebeenchangedorinfluenced.Itissignificantbecauseitdeterminesthenature,timing,andextentofauditproceduresneededtoensurefinancialstatementsarefreefrommaterialmisstatement.4.Non-currentassetsmustbeclassifiedascurrentornon-current.Theyshouldbegroupedandpresentedaccordingtonature(e.g.,property,plant,andequipment;intangibleassets).Valuationshouldgenerallybebasedoncostlessaccumulateddepreciationandimpairmentlosses.Notesmustbeincludeddisclosingthebasisofvaluation,depreciationmethods,andsignificantadditions,disposals,andimpairments.5.Thestatementofcashflowsreportsthecashgeneratedandusedduringaperiod,classifiedintooperating,investing,andfinancingactivities.Itprovidesinformationaboutanentity'sliquidity,solvency,andfinancialflexibilitybyshowinghowcashinflowsandoutflowsarederivedfromoperations,investmentsinlong-termassets,andtransactionswithownersandlenders.第二部分a.ContributionMarginperunit(X)=SellingPrice(X)-VariableCosts(X)SellingPrice(X)=£50DirectMaterials(X)=£10DirectLabor(X)=2hours*£15/hour=£30VariableOverhead(X)=2hours*£5/hour=£10TotalVariableCosts(X)=£10+£30+£10=£50ContributionMarginperunit(X)=£50-£50=£0b.ContributionMarginperunit(Y)=SellingPrice(Y)-VariableCosts(Y)SellingPrice(Y)=£70DirectMaterials(Y)=£15DirectLabor(Y)=3hours*£15/hour=£45VariableOverhead(Y)=3hours*£5/hour=£15TotalVariableCosts(Y)=£15+£45+£15=£75ContributionMarginperunit(Y)=£70-£75=£-5c.TotalBudgetedContributionMargin=(CMperunitX*UnitsX)+(CMperunitY*UnitsY)TotalBudgetedContributionMargin=(£0*1,000)+(£-5*800)TotalBudgetedContributionMargin=£0-£4,000=£-4,000d.Break-evenPoint(units)=TotalFixedCosts/WeightedAverageContributionMarginperunitFirst,calculatetheweightedaverageCMperunit:TotalUnits=1,000+800=1,800unitsWeightedAvgCMperunit=((£0*1,000)+(£-5*800))/1,800WeightedAvgCMperunit=£-4,000/1,800=£-2.222...perunitSincetheweightedaveragecontributionmarginperunitisnegative(£-2.22),thecompanyisexpectedtoincuraloss.Therefore,atraditionalbreak-evenpointinunitscannotbecalculatedasapositivenumber.Thecompanywouldneedtoincreaseprices,reducecosts,orbothtoachieveprofitability.第三部分a.AnnualDepreciationExpense=(Cost-ResidualValue)/UsefulLifeAnnualDepreciationExpense=(£500,000-£50,000)/5yearsAnnualDepreciationExpense=£450,000/5=£90,000b.AnnualAccountingProfit=AdditionalRevenue-AdditionalVariableCosts-AdditionalFixedCosts-AnnualDepreciationAnnualAccountingProfit=£200,000-£120,000-£30,000-£90,000AnnualAccountingProfit=£200,000-£240,000=£-40,000c.PaybackPeriod=InitialInvestment/AnnualCashInflowSincetheaccountingprofitisnegative(£-40,000),theannualcashinflowisnegativeaswell.AnnualCashInflow=AnnualAccountingProfit+AnnualDepreciationAnnualCashInflow=£-40,000+£90,000=£50,000PaybackPeriod=£500,000/£50,000=10yearsd.NPV=Σ[AnnualCashInflow*PVIF(DiscountRate,Year)]+[ResidualValue*PVIF(DiscountRate,UsefulLife)]-InitialInvestmentNPV=(£50,000*PVIF(10%,5))+(£50,000*PVIF(10%,5))-£500,000NPV=(£50,000*0.621)+(£50,000*0.621)-£500,000NPV=£31,050+£31,050-£500,000NPV=£62,100-£500,000=£-437,900第四部分a.TaxableProfit=AccountingProfitBeforeTax+TaxableAdjustments(Decrease)-TaxableAdjustments(Increase)TaxableProfit=£250,000+(£20,000-£15,000-£10,000)+£15,000TaxableProfit=£250,000+(£5,000)+£15,000TaxableProfit=£250,000+£20,000=£270,000ChargeforIncomeTaxExpense=TaxableProfit*TaxRateChargeforIncomeTaxExpense=£270,000*25%ChargeforIncomeTaxExpense=£67,500b.TaxPayable=TaxableProfit*TaxRateTaxPayable=£270,000*25%TaxPayable=£67,500第五部分a.Risk1:Managementhistoryofaggressivereporting.Procedure:Performanalyticalproceduresonfinancialratios(e.g.,profitmargins,assetturnover)andtrendsoverseveralperiodstoidentifyanomalies.Inquirewithmanagementaboutaccountingpoliciesandjudgments,focusingonareaspronetomanipulation.Reviewmanagementdiscussionsandanalyses.Risk2:Complexaccountingstandardsinregulatedindustry.Procedure:Updatetheauditor'sknowledgeoftherelevantaccountingstanda