FA3_Sample_Exam_2011
财务会计FA3_习题答案ch22
*This material is dealt with in an Appendix to the chapter.
22-1
School of Management,HUST
ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE)
Learning Objectives 1. Identify the types of accounting changes. 2. Describe the accounting for changes in accounting principles. 3. Understand how to account for retrospective accounting changes. 4. Understand how to account for impracticable changes. 5. Describe the accounting for changes of estimates. 6. Identify changes in a reporting entity. 7. Describe the accounting for correction of errors. 6, 7, 8, 9, 10 7, 8, 9, 10, 15, 16, 17, 18, 19, 20, 21 1, 2, 3, 6, 7, 8, 9, 10 4, 5, 9, 10 1, 2, 3, 9, 10 1, 2, 3, 4, 5, 8, 13, 14 2 6, 7, 8, 9, 10, 11, 12 1, 2, 3, 4, 6 1 2, 3, 5 Brief Exercises Exercises Problems
School of Management,HUST
cfa三级考试怎么阅卷
cfa三级考试怎么阅卷
CFA考试的阅卷过程的首先是以机器扫描的方式批改单选题的答案。
为确保批改的公正，CFA协会采用了多重的品质监控程序，包括检查受损的答题纸，以及随机抽取约百分之五的样本作独立审核之用,IPS写作由700位CFA特许资格认证持有人进行批阅。
CFA三级考试的评阅工作，每年CFA协会在美国弗吉尼亚州夏律第镇的总部聚集700位CFA特许资格认证持有人参与阅卷工作。
在阅卷的过程中，每位考生的身份会绝对保密，阅卷员只知道考生号码，名字和国籍等资料一律屏蔽。
经过一周的工作，阅卷工作初步完成，并将进入资深阅卷的程序。
此时，考生的成绩会被从高到低排列，均分为上段、中上段、中下段和下段四个分数段，资深阅卷员将重新批改成绩位于中上和中下两个分数段的考卷，且不能参与已批改过的考卷的重改工作。
除此之外，所有考卷会被仔细翻阅，以确保所有答案都被批阅，以及考卷上的总分被正确的记录在系统里。
财务会计FA3_习题答案ch14
CHAPTER 14Long-Term Liabilities ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)Topics QuestionsBriefExercises Exercises ProblemsConceptsfor Analysis1.Long-term liability;classification; definitions.1, 10, 14,201, 210, 111, 2, 32.Issuance of bonds; typesof bonds.2, 3, 4, 9,10, 111, 2, 3, 4,5, 6, 73, 4, 5, 6,7, 8, 9, 10,111, 2, 3, 4,5, 6, 7, 101, 3, 63.Premium and discount;amortization schedules.5, 6, 7,8, 113, 4, 6, 7,8, 104, 5, 6, 7,8, 9, 10,11, 13,14, 151, 2, 3, 4,5, 6, 7, 10,111, 2, 3, 44.Retirement and refundingof debt.12, 131112, 13,14, 152, 4, 5, 6,7, 103, 4, 55.Imputation of interest onnotes.14, 15, 16,17, 1812, 13, 14,1516, 17, 188, 96.Disclosures of long-termobligations.19, 20,21, 22919101, 3, 5*7.Troubled debtrestructuring.23, 24, 25,26, 27, 28,291620, 21, 22,23, 24, 25,2613, 14, 15*8.Impairments.24, 2627, 2812 *This material is discussed in the Appendix to the Chapter.ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE)Learning Objectives BriefExercises Exercises Problems1.Describe the formal proceduresassociated with issuing long-term debt.2.Identify various types of bond issues.1, 23.Describe the accounting valuationfor bonds at date of issuance.1, 2, 3, 4, 5,6, 7, 83, 4, 5, 6, 7, 8,9, 10, 11, 12,13, 14, 151, 2, 3, 4, 5,6, 7, 104.Apply the methods of bond discountand amortization.2, 3, 4, 5,6, 7, 8, 103, 4, 5, 6, 7, 8,9, 10, 12, 13,14, 151, 2, 3, 4, 5,6, 7, 10, 115.Describe the accounting for theextinguishment of debt.1112, 13, 14, 152, 4, 5, 6,7, 106.Explain the accounting for long-termnotes payable.12, 13, 14, 1516, 17, 188, 97.Explain the reporting of off-balance sheetfinancing arrangements.8.Indicate how to present and analyzelong-term debt.9194, 10*9.Describe the accounting for a loanimpairment.1627, 2812*10.Describe the accounting for debt restructuring.20, 21, 22,23, 24, 25,2613, 14, 15ASSIGNMENT CHARACTERISTICS TABLEItem Description Level ofDifficultyTime(minutes)E14-1Classification of liabilities.Simple15–20 E14-2Classification.Simple15–20 E14-3Entries for bond transactions.Simple15–20 E14-4Entries for bond transactions—straight-line.Simple15–20 E14-5Entries for bond transactions—effective-interest.Simple15–20 E14-6Amortization schedule—straight-line.Simple15–20 E14-7Amortization schedule—effective-interest.Simple15–20 E14-8Determine proper amounts in account balances.Moderate15–20 E14-9Entries and questions for bond transactions.Moderate20–30 E14-10Entries for bond transactions.Moderate15–20 E14-11Information related to various bond issues.Simple20–30 E14-12Entry for retirement of bond; bond issue costs.Simple15–20 E14-13Entries for retirement and issuance of bonds.Simple15–20 E14-14Entries for retirement and issuance of bonds.Simple12–16 E14-15Entries for retirement and issuance of bonds.Simple10–15 E14-16Entries for zero-interest-bearing debt.Simple15–20 E14-17Imputation of interest.Simple15–20 E14-18Imputation of interest with right.Moderate15–20 E14-19Long-term debt disclosure.Simple10–15 *E14-20Settlement of debt.Moderate15–20 *E14-21Term modification without gain—debtor’s entries.Moderate20–30 *E14-22Term modification without gain—creditor’s entries.Moderate25–30 *E14-23Term modification with gain—debtor’s entries.Moderate25–30 *E14-24Term modification with gain—creditor’s entries.Moderate20–30 *E14-25Debtor/creditor entries for settlement of troubled debt.Simple15–20 *E14-26Debtor/creditor entries for modification of troubled debt.Moderate20–25 *E14-27Impairments.Moderate15–25 *E14-28Impairments.Moderate15–25P14-1Analysis of amortization schedule and interest entries.Simple15–20 P14-2Issuance and retirement of bonds.Moderate25–30 P14-3Negative amortization.Moderate20–30 P14-4Issuance and retirement of bonds; income statementpresentation.Simple15–20 P14-5Comprehensive bond problem.Moderate50–65 P14-6Issuance of bonds between interest dates, straight-line,retirement.Moderate20–25P14-7Entries for life cycle of bonds.Moderate20–25 P14-8Entries for zero-interest-bearing note.Simple15–25 P14-9Entries for zero-interest-bearing note; payablein installments.Moderate20–25P14-10Comprehensive problem; issuance, classification,reporting.Moderate20–25P14-11Effective-interest method.Moderate40–50 *P14-12Loan impairment entries.Moderate30–40ASSIGNMENT CHARACTERISTICS TABLE (Continued)Item Description Level ofDifficultyTime(minutes)*P14-13Debtor/creditor entries for continuation of troubled debt.Moderate15–25 *P14-14Restructure of note under different circumstances.Moderate30–45 *P14-15Debtor/creditor entries for continuation of troubled debtwith new effective-interest.Complex40–50CA14-1Bond theory: balance sheet presentations, interest rate,premium.Moderate25–30CA14-2Various long-term liability conceptual issues.Moderate10–15 CA14-3Bond theory: price, presentation, and retirement.Moderate15–25 CA14-4Bond theory: amortization and gain or loss recognition.Simple20–25 CA14-5Off-balance-sheet financing.Moderate20–30 CA14-6Bond issue, ethics Moderate23–30ANSWERS TO QUESTIONS1.(a)Funds might be obtained through long-term debt from the issuance of bonds, and from thesigning of long-term notes and mortgages.(b)A bond indenture is a contractual agreement (signed by the issuer of bonds) between the bondissuer and the bondholders. The bond indenture contains covenants or restrictions for the protection of the bondholders.(c)A mortgage is a document which describes the security for a loan, indicates the conditionsunder which the mortgage becomes effective (that is, conditions of default), and describes the rights of the mortgagee under default relative to the security. The mortgage accompaniesa formal promissory note and becomes effective only upon default of the note.2.If the entire bond matures on a single date, the bonds are referred to as term bonds. Mortgagebonds are secured by real estate. Collateral trust bonds are secured by the securities of other corporations. Debenture bonds are unsecured. The interest payments for income bonds depend on the existence of operating income in the issuing company. Callable bonds may be called and retired by the issuer prior to maturity. Registered bonds are issued in the name of the owner and require surrender of the certificate and issuance of a new certificate to complete the sale. A bearer or coupon bond is not recorded in the name of the owner and may be transferred from one investor to another by mere delivery. Convertible bonds can be converted into other securities of the issuing corporation for a specified time after issuance. Commodity-backed bonds (also called asset-linked bonds) are redeemable in measures of a commodity. Deep-discount bonds (also called zero-interest bonds) are sold at a discount which provides the buyer’s total interest payoff at maturity.3.(a)Yield rate—the rate of interest actually earned by the bondholders; it is synonymous with theeffective and market rates.(b)Nominal rate—the rate set by the party issuing the bonds and expressed as a percentage ofthe par value; it is synonymous with the stated rate.(c)Stated rate—synonymous with nominal rate.(d)Market rate—synonymous with yield rate and effective rate.(e)Effective rate—synonymous with market rate and yield rate.4.(a)Maturity value—the face value of the bonds; the amount which is payable upon maturity.(b)Face value—synonymous with par value and maturity value.(c)Market value—the amount realizable upon sale.(d)Par value—synonymous with maturity and face value.5. A discount on bonds payable results when investors demand a rate of interest higher than the ratestated on the bonds. The investors are not satisfied with the nominal interest rate because they can earn a greater rate on alternative investments of equal risk. They refuse to pay par for the bonds and cannot change the nominal rate. However, by lowering the amount paid for the bonds, investors can alter the effective rate of interest.A premium on bonds payable results from the opposite conditions. That is, when investors aresatisfied with a rate of interest lower than the rate stated on the bonds, they are willing to pay more than the face value of the bonds in order to acquire them, thus reducing their effective rate of interest below the stated rate.6.Discount (premium) on bonds payable should be reported in the balance sheet as a directdeduction from (addition to) the face amount of the bond. Both are liability valuation accounts.Questions Chapter 14 (Continued)7.Bond discount and bond premium may be amortized on a straight-line basis or on an effective-interest basis. The profession recommends the effective-interest method but permits the straight-line method when the results obtained are not materially different from the effective-interest method. The straight-line method results in an even or average allocation of the total interest over the life of the notes or bonds. The effective-interest method results in an increasing or decreasing amount of interest each period. This is because interest is based on the carrying amount of the bond issuance at the beginning of each period. The straight-line method results in a constant dollar amount of interest and an increasing or decreasing rate of interest over the life of the bonds.The effective-interest method results in an increasing or decreasing dollar amount of interest anda constant rate of interest over the life of the bonds.8.The annual interest expense will decrease each period throughout the life of the bonds. Under theeffective-interest method the interest expense each period is equal to the effective or yield interest rate times the book value of the bonds at the beginning of each interest period. When bonds are sold at a premium, their book value declines to face value over their life; therefore, the interest expense declines also.9.Bond issuance costs according to APB Opinion No. 21 should be debited to a deferred chargeaccount for Unamortized Bond Issue Costs and amortized over the life of the issue, separately from but in a manner similar to that used for discount on bonds. The FASB in SFAC No. 3 takes the position that debt issue costs can be treated as either an expense of the period in which the bonds are issued or a reduction of the related debt liability.10.Treasury bonds should be shown on the balance sheet as a deduction from the bonds payable.11.The call feature of a bond issue grants the issuer the privilege of purchasing, after a certain date ata stated price, outstanding bonds for the purpose of reducing indebtedness or taking advantage oflower interest rates. The call feature does not affect the amortization of bond discount or premium;because early redemption is not a certainty, life to maturity date should be used for amortization purposes.12.It is sometimes desirable to reduce bond indebtedness in order to take advantage of lower pre-vailing interest rates. Also the company may not want to make a very large cash outlay all at once when the bonds mature.Bond indebtedness may be reduced by either issuing bonds callable after a certain date and then calling some or all of them, or by purchasing bonds on the open market and then retiring them.When a portion of bonds outstanding is going to be retired, it is necessary for the accountant to make sure any corresponding discount or premium is properly amortized.13.Gains or losses from extinguishment of debt should be aggregated and reported in income.For extinguishment of debt transactions disclosure is required of the following items:1. A description of the transactions, including the sources of any funds used to extinguish debt ifit is practicable to identify the sources.2.The income tax effect in the period of extinguishment.3.The per share amount of the aggregate gain or loss net of related tax effect.14.The entire arrangement must be evaluated and an appropriate interest rate imputed. This is doneby (1) determining the fair value of the property, goods, or services exchanged or (2) determining the market value of the note, whichever is more clearly determinable.Questions Chapter 14 (Continued)15.If a note is issued for cash, the present value is assumed to be the cash proceeds. If a note isissued for noncash consideration, the present value of the note should be measured by the fair value of the property, goods, or services or by an amount that reasonably approximates the market value of the note (whichever is more clearly determinable).16.When a debt instrument is exchanged in a bargained transaction entered into at arm’s-length, thestated interest rate is presumed to be fair unless: (1) no interest rate is stated, or (2) the stated interest rate is unreasonable, or (3) the stated face amount of the debt instrument is materially different from the current sales price for the same or similar items or from the current market value of the debt instrument.17.Imputed interest is the interest factor (a rate or amount) assumed or assigned which is differentfrom the stated interest factor. It is necessary to impute an interest rate when the stated interest rate is presumed to be unfair. The imputed interest rate is used to establish the present value of the debt instrument by discounting, at that imputed rate, all future payments on the debt instrument. In imputing interest, the objective is to approximate the rate which would have resulted if an independent borrower and an independent lender had negotiated a similar transaction under comparable terms and conditions with the option to pay the cash price upon purchase or to givea note for the amount of the purchase which bears the prevailing rate of interest to maturity. In orderto accomplish that objective, consideration must be given to (1) the credit standing of the issuer,(2) restrictive covenants, (3) collateral, (4) payment and other items pertaining to the debt, (5) theexisting prime interest rate, and (6) the prevailing rates for similar instruments of issuers with similar credit ratings.18. A fixed-rate mortgage is a note that requires payment of interest by the mortgagor at a rate thatdoes not change during the life of the note. A variable-rate mortgage is a note that features an interest rate that fluctuates with the market rate; the variable rate generally is adjusted periodically as specified in the terms of the note and is usually limited in the amount of each change in the rate up or down and in the total change that can be made in the rate.19.FASB Statement No. 47 requires disclosure at the balance sheet date of future payments forsinking fund requirements and the maturity amounts of long-term debt during each of the next five years.20.Off-balance-sheet-financing is an attempt to borrow monies in such a way that the obligations arenot recorded. Reasons for off-balance sheet financing are:1.Many believe removing debt enhances the quality of the balance sheet and permits credit to beobtained more readily and at less cost.2.Loan covenants are less likely to be violated.3.The asset side of the balance sheet is understated because fair value is not used for manyassets. As a result, not reporting certain debt transactions offsets the nonrecognition of fair values on certain assets.21.Forms of off-balance-sheet financing include (1) investments in non-consolidated subsidiaries forwhich the parent is liable for the subsidiary debt; (2) use of special purpose entities (SPEs), which are used to borrow money for special projects (resulting in take-or-pay contracts; (3) operating leases, which when structured carefully give the company the benefits of ownership without reporting the liability for the lease payments.22.In take-or-pay contracts, the outside party agrees to make specified minimum payments even if itdoes not take possession of the contracted goods or services. In through-put contracts, the outside party agrees to pay specified amounts in return for processing or transportation services rendered by the debtor, which is usually the owner of a manufacturing or transportation facility.Questions Chapter 14 (Continued)*23.Two different types of situations result with troubled debt: (1) Impairments, and (2) Restructurings.Restructurings can be further classified into:a.Settlements.b.Modification of terms.When a debtor company runs into financial difficulty, creditors may recognize an impairment ona loan extended to that company. Subsequently, the creditor may modify the terms of the loan, orsettles it on terms unfavorable to the creditor. In unusual cases, the creditor forces the debtor into bankruptcy in order to ensure the highest possible collection on the loan.*24.A loan is considered impaired when it is probable that the creditor will be unable to collect all amounts due (both principal and interest) according to the contractual terms of the loan. If a loan is considered impaired, the loss due to impairment should be measured as the difference between the investment in the loan and the expected future cash flows discounted at the loan’s historical effective-interest rate. The loss is recorded on the books of the creditor. The debtor would not be aware of the entry made by the creditor and would not make an entry until settlement or ifa modification of items resulted.*25.A transfer of noncash assets (real estate, receivables, or other assets) or the issuance of the debtor’s stock can be used to settle a debt obligation in a troubled debt restructuring. In these situations, the noncash assets or equity interest given should be accounted for at their fair market value. The debtor is required to determine the excess of the carrying amount of the payable over the fair value of the assets or equity transferred (gain). Likewise, the creditor is required to determine the excess of the receivable over the fair value of those same assets or equity interests transferred (loss). The debtor recognizes a gain equal to the amount of the excess and the creditor normally would charge the excess (loss) against Allowance for Doubtful Accounts. In addition, the debtor recognizes a gain or loss on disposition of assets to the extent that the fair value of those assets differs from their carrying amount (book value).*26.(a)The creditor will grant concessions in a troubled debt situation because it appears to be the more likely way to maximize recovery of the investment.(b)The creditor might grant any one or a combination of the following concessions:1.Reduce the face amount of the debt.2.Accept noncash assets or equity interests in lieu of cash in settlement.3.Reduce the stated interest rate.4.Extend the maturity date of the face amount of the debt.5.Reduce or defer any accrued interest.(c)A loan is impaired when there is a reduction in the likelihood of collecting the interest andprincipal payments as originally scheduled. An impairment should be recorded by a creditor when it is “probable” that the payment will not be collected as scheduled. Debtors do not record impairments.*27.When a loan is restructured, the creditor should calculate the loss due to restructuring by sub-tracting the present value of the restructured cash flows from the carrying value of the loan.Interest revenue is calculated at the original effective rate applied towards the new carrying value.The debtor will record a gain only if the undiscounted restructured cash flows are less than the carrying value of the loan. If a gain is recognized, subsequent payments will be all principal. There is no interest component. If the undiscounted cash flows exceed the carrying amount, no gain is recognized, and a new imputed interest rate must be calculated in order to recognize interest expense in subsequent periods.Questions Chapter 14 (Continued)*28.“Accounting symmetry” between the entries recorded by the debtor and the creditor in a troubled debt restructuring means that there is a correspondence or agreement between the entries recorded by each party. Impairments are nonsymmetrical because, while the creditor recordsa loss, the debtor makes no entry at all. Troubled debt restructurings are nonsymmetrical becausecreditors calculate their loss using the discounted present value of future cash flows, while debtors calculate their gain using the undiscounted cash flows. The FASB chose to accept this nonsymmetric treatment rather than address debtor accounting because it feared that expansion of the scope of FASB Statement No. 114 would further delay its issuance.*29.A transaction would be recorded as a troubled debt restructuring by only the debtor if the amount for which the liability is settled is less than its carrying amount on the debtor’s books, but equal to or greater than the carrying amount on the creditor’s books. In addition to the situation created by the use of discounted versus undiscounted cash flows by creditors and debtors, this situation can occur when a debtor or creditor has been substituted for one of the parties to the original transaction.SOLUTIONS TO BRIEF EXERCISESBRIEF EXERCISE 14-1Present value of the principal$300,000 X .37689$113,067Present value of the interest payments$13,500 X 12.46221 168,240 Issue price$281,307BRIEF EXERCISE 14-2(a)Cash...................................................................................200,000Bonds Payable.....................................................200,000 (b)Interest Expense............................................................10,000Cash ($200,000 X 10% X 6/12).........................10,000 (c)Interest Expense............................................................10,000Interest Payable...................................................10,000 BRIEF EXERCISE 14-3(a)Cash ($200,000 X 98%).................................................196,000Discount on Bonds Payable......................................4,000Bonds Payable.....................................................200,000 (b)Interest Expense............................................................10,000Cash ($200,000 X 10% X 6/12).........................10,000 (c)Interest Expense............................................................10,000Interest Payable...................................................10,000 Interest Expense (800)Discount on Bonds Payable (800)($4,000 X 1/5 = $800)BRIEF EXERCISE 14-4(a)Cash ($200,000 X 103%)...............................................206,000Bonds Payable.....................................................200,000Premium on Bonds Payable............................6,000 (b)Interest Expense.............................................................10,000Cash ($200,000 X 10% X 6/12).........................10,000 (c)Interest Expense.............................................................10,000Interest Payable...................................................10,000 Premium on Bonds Payable.......................................1,200Interest Expense ($6,000 X 1/5 = $1,200).....1,200 BRIEF EXERCISE 14-5(a)Cash....................................................................................510,000Bonds Payable.....................................................500,000Interest Expense..................................................10,000($500,000 X 6% X 4/12 = $10,000)(b)Interest Expense.............................................................15,000Cash ($500,000 X 6% X 6/12 = $15,000)........15,000 (c)Interest Expense.............................................................15,000Interest Payable...................................................15,000 BRIEF EXERCISE 14-6(a)Cash....................................................................................372,816Discount on Bonds Payable.......................................27,184Bonds Payable.....................................................400,000 (b)Interest Expense.............................................................14,913Cash.........................................................................14,000Discount on Bonds Payable (913)($372,816 X 8% X 6/12 = $14,913)($400,000 X 7% X 6/12 = $14,000)BRIEF EXERCISE 14-6 (Continued)(c)Interest Expense............................................................14,949Interest Payable...................................................14,000Discount on Bonds Payable (949)($373,729 X 8% X 6/12 = $14,949)BRIEF EXERCISE 14-7(a)Cash...................................................................................429,757Bonds Payable.....................................................400,000Premium on Bonds Payable............................29,757(b)Interest Expense............................................................12,893Premium on Bonds Payable......................................1,107Cash........................................................................14,000($429,757 X 6% X 6/12 = $12,893)($400,000 X 7% X 6/12 = $14,000)(c)Interest Expense............................................................12,860Premium on Bonds Payable......................................1,140Interest Payable...................................................14,000($428,650 X 6% X 6/12 = $12,860)BRIEF EXERCISE 14-8Interest Expense........................................................................4,298Premium on Bonds Payable (369)Interest Payable...............................................................4,667 ($429,757 X 6% X 2/12 = $4,298)($400,000 X 7% X 2/12 = $4,667)BRIEF EXERCISE 14-9Current liabilities$80,000 Bond Interest PayableLong-term liabilities$2,000,000 Bonds Payable, due January 1, 2016 98,000 Less: Discount on Bonds Payable$1,902,000 BRIEF EXERCISE 14-10Bond Issue Expense..................................................................18,000 Unamortized Bond Issue Costs..................................18,000 ($180,000 X 1/10)BRIEF EXERCISE 14-11Bonds Payable............................................................................600,000Premium on Bonds Payable...................................................15,000 Unamortized Bond Issue Costs..................................5,250 Cash.....................................................................................594,000 Gain on Redemption of Bonds....................................15,750 BRIEF EXERCISE 14-12(a)Cash....................................................................................100,000Notes Payable.......................................................100,000 (b)Interest Expense.............................................................11,000Cash ($100,000 X 11% = $11,000)...................11,000 BRIEF EXERCISE 14-13(a)Cash....................................................................................31,776Discount on Notes Payable........................................18,224Notes Payable.......................................................50,000BRIEF EXERCISE 14-13 (Continued)(b)Interest Expense............................................................3,813Discount on Notes Payable.............................3,813($31,776 X 12%)BRIEF EXERCISE 14-14(a)Computer..........................................................................39,369Discount on Notes Payable........................................10,631Notes Payable......................................................50,000 (b)Interest Expense............................................................4,724Cash........................................................................2,500Discount on Notes Payable.............................2,224($39,369 X 12% = $4,724)($50,000 X 5% = $2,500)BRIEF EXERCISE 14-15 Cash...............................................................................................50,000Discount on Notes Payable....................................................18,224 Notes Payable...................................................................50,000 Unearned Revenue.........................................................18,224 [$50,000 – ($50,000 X .63552) = $18,224]*BRIEF EXERCISE 14-16Toni Braxton (Debtor): No EntryNational American Bank (Creditor):Bad Debt Expense..........................................................225,000Allowance for Doubtful Accounts....................225,000。
Cfa三级考试攻略
Cfa三级考试攻略我毕业于上海交通大学，学的是国际经济与贸易专业。
现在在一家国有银行的公司业务部，从事客户经理的工作，主要是为客户提供各类投融资方案。
选择备考CFA，跟我目前的工作有很大关系，目前，我已经高分通过了CFA三级的考试。
作为一名金融从业人员，我认为CFA是一个在行业中认可度很高的一张证书。
CFA的金融知识体系非常全面，通过CFA的学习大大地拓宽了我的知识面，让我对投资的基础知识有了更深层次的理解，二是备考CFA也可以帮助我掌握一些金融方面的知识，这些知识在平时的学习中也能够学以致用，提升职场竞争力。
制定备考时间表，坚定备考信心“CFA的考点非常多，临时突击效果不大，最好能提前制定一个有效的学习计划。
”我建议考生在备考时，根据自己的学习节奏，制定一个详细可行的时间表，在规定的时间里要把Notes或原版书看一遍，过一遍。
争取在考试前的一个月把书看完。
制定好备考计划时间表以后，我表示报考后一定要坚定自己的信心，要坚信一定能够通过自己的努力完成CFA 的三级考试，并且告诉自己，不管有多难，都要坚持到底!系统复习，早起的鸟儿有虫吃在报考的时候，我是二级和三级连报。
因为平时上班比较忙，在考试之前，提前三个月进行比较全面系统的复习。
在考试之前的前三个月，不管平时有多忙，我都早早的起来看书，做到每天早上提前一个小时起来复习。
早上一般头脑比较清晰，复习的时候效率比较高。
早起复习已经成为一种习惯，就连周末也不例外，每天早上固定的时间复习，头脑就会很兴奋。
考前一个月要尽量多做习题我认为至少要留一个月左右的时间来做习题和加强自己的薄弱点，尤其是mock和sample，需要把所有题都做一遍。
三级上午是Essay，官方会对外公布真题，这个是非常宝贵的资料，一定不能浪费，尽量在考前一个月把3-5年的Essay做一遍。
因为考试之前比较忙，所以三级Essay没有动笔写，看一遍觉得自己会了，再跟答案对一下觉得没问题了。
2011年全国公共英语三级模拟试题及答案
Section I Listening Comprehension (25 minutes) Directions: This section is designed to test your ability to understand spoken English. You will hear a selection of recorded materials and you must answer the questions that accompany them. There are two parts in this section, Part A and Part B. Remember, while you are doing the test, you should first put down your answers in your test booklet. At the end of the listening comprehension section, you will have 3 minutes to transfer your answers from your test booklet onto your ANSWER SHEET I. If you have any questions, you may raise your hand NOW as you will not be allowed to speak once the test has started. Now look at Part A in your test booklet. Part A You will hear 10 short dialogues. For each dialogue, there is one question and four possible answers. Choose the correct answer-A, B, C or D, and mark it in your test booklet. You will have 15seconds to answer the question and you will hear each dialogue ONLY ONCE. Example: You will hear: W: Could you please tell me if the Beijing flight will be arriving on time? M:Yes, Madam. It should be arriving in about ten minutes. You will read: Who do you think the woman is talking to? [A] A bus conductor. [B]A clerk at the airport. [ C] A taxi driver. [D]A clerk at the station. From the dialogue, we know that only a clerk at the airport is most likely to know the arrival time of a flight, so you should choose answer [ B ] and mark it in your test booklet. Sample Answer: [A] [B] [C] [D] Now look at question 1. 1. What does the woman mean? [A] She invites the man to a pot luck next weekend. [ B ] She asks the man to help her with the gardening. [ C ] She is not free today. [D] She agrees to meet the man next Saturday. 2. What will the man do? [A] Join his friends. [B] Play a card game. [C] Catch up with others. [D] Do more studying. 3. Where did this conversation most probably take place? [A] At the bookstore. [B] At a department store. [C] At a club. [D] At a school. 4. How much will the man pay for two tickets? [A] $8. [B] $24. [C] $18. [D] $36. 5. What do they decide to do? [ A ] The man will bring some food back for dinner. [ B ] They will go to their friend ' s home for supper. [ C ] The woman will fill the refrigerator before supper. [ D ] They will eat out for dinner. 6. How does the woman feel at the end of the conversation? [A] Angry. [B] Relieved. [C] Upset. [D] Sarcastic. 7. What is the man going to do this morning? [A] Paint the bookshelf. [B] Fix the table. [C] Wash the car. [D] Go to the beach.8. How many students were absent from the test? [A] 15. [B] 20. [C] 25. [D] 30. 9. What do we learn from the conversation? [A] The man needs three weeks to do something before leaving for Europe. [B] Something prevents the man from going to Europe. [ C] The woman is leaving for Europe in just three weeks. [D] The man is excited about his trip to Europe. 10. What do we learn from this conversation? [A] The man is giving a party. [B] The woman is staying at home. [ C] The man is going to lower the music volume. . [ D] The woman is invited to join the man. Part B You are going to hear four conversations. Before listening to each conversation, you will have 5 seconds to read each of the questions which accompany it. After listening, you will have time to answer each question by choosing A, B, C or D. You will hear each passage or conversation ONLY ONCE. Mark your answers in your test booklet. Questions 11-13 are based on the following conversation. You now have 15 seconds to read the Questions11 -13. 11. What is an active holiday according to the man? [A] Sitting around. [ B] With joys of social activities. [ C ] Doing nothing. [ D ] Holiday with a lot of exercise. 12. Which of the following belongs to the man's preferences? [ A ] Water skiing. [ B ] Shark fishing. [C] Rowing. [D] Camping. 13. Which of the following doesn' t belong to the woman' s suggestions? [ A ] Skin diving. [ B ] Golfing. [G] Rowing. [D] Canoeing. You now have 30 seconds to check your answers to questions 11 -13. Questions 14-17 are based on the following conversation. You now have 20 seconds to read the questions 14 -17. 14. Why does the woman want to go to the movie? [Aj Because she is tired of staying at home all day. [ B ] Because there is a good film in the neighborhood theater. [C] Because she enjoys going to the movies. [ D] Because she is tired of watching TV. 15. What does "I'd rather not spend a lot of money" imply? [A] She prefers to spend money on something else. [B] Tickets in downtown theaters are very expensive. [C] People cannot help buying things if they go downtown. [D] It would take a long drive to get there. 16. Why does the woman say she doesn't want to see the movie Gone with the Wind ? [A] Because the movie theater is too far away. [B] Because the film is too old. [C] Because she doesn't want to see it a second time. [D] Because it's a popular film so the tickets would be quite expensive. 17. What may you infer from the dialogue? [A] People are tired of watching TV nowadays. [B] Baseball games attract more people than films do. [ C ] There aren ' t any films worth seeing in local theaters. [D] The woman is rather hard to please. You now have 40 seconds to check your answers to questions 14 -17. Questions 18-21 are based on the following passage. You now have 20 seconds to read the questions 18 -21. 18. Which floor is the most dangerous if a cat falls from it? [A] The 7th floor. [ B] The 32nd floor. [C] The 4th floor. [D] The 20th floor. 19. How many cats can survive a fall from two or three storeys? [A] 100%. [B] 50%. [C] 90%. [D] 10%. 20. What do cats probably do after they have reached the terminal speed? [A] They feel extremely terror-stricken. [B] They become relieved from strain. [C] They fly like flying squirrels. [D] They try to hold on to something. 21. What makes cats land on their feet? [A] Fear of death. [B] The terminal speed. [C] The light weight of cats. [D]A sense of balance. You now have 40 seconds to check your answers to questions 18 -21. Questions 22 - 25 are based on the following conversation. You now have 20 seconds to read the questions 22 -25. 22. What does the International Center send out to students? [A]A diagram of their facilities. [ B] A timetable of events. [ C] Maps of the city. [ D ] Samples of coffee from other countries.23. How does the man feel about the local customs? [A] Fearful. [B] Angry. [C] Disinterested. [D] Confused. 24. What does the woman say about her family? [A] They live far away. [B] They frequently invite students to their home. [C] They come from another country. [D] They visit her every weekend. 25. When does the International Center close on week nights? [A] 11:30. [B] 10:30. [C] 8:00. [D] 8:30. You now have 40 seconds to check your answers to questions 22 - 25. Now you have 3 minutes to transfer your answers from your test booklet to the ANSWER SHEET 1. That is the end of the listening comprehension section. Section Ⅱ Use of English (15 minutes) Directions: Read the following text. Choose the best word or phrase for each numbered blank and mark A, B, C, or Don your ANSWER SHEET 1. Text What do we mean by a perfect English pronunciation? In one 26 there are as many different kinds of English as there are speakers of it. 27 two speakers speak in exactly the same 28 We can always hear differences 29 them, and the pronunciation of English 30 a great deal in different geographical 31 . How do we decide what sort of English to use as a 32 This is not a question that can be 33 in the same way for all foreign learners of English. 34 you live in a part of the world 35 India or West Africa, where there is a long 36 of speaking English for general communication purposes, you should 37 to acquire a good variety of the pronunciation of this area. It would be a 38 in these circumstances to use as a model BBC English or 39 of the sort. On the other hand, if you live in a country 40 there is no traditional use of English, you must take 41 your model some form of 42 English pronunciation. It does not 43 very much which form you choose. The most 44 way is to take as your model the sort of English you can 45 most often. 26. [A] meaning [B] sense [C] case [D] situation 27. [A] Not [B] No [C] None [D] Nor 28. [A] type [B] form [C] sort [DJ way 29.[A} between [B] among [C] of [D] from 30. [A] changes [B] varies [C] shifts [D] alters 31. [A] areas [ B ] parts [ C ] countries [ D ] spaces= " 2 1 4 " > 0 0 3 2 . [ A ] d i r e c t i o n [ B ] g u i d e [ C ] s y m b o l [ D ] m o d e l b r b d s f i d = " 2 1 5 " > 0 0 3 3 . [ A ] g i v e n [ B ] r e s p o n d e d [ C ] s a t i s f i e d [ D ] a n s w e r e d b r b d s f i d = " 2 1 6 " > 0 0 3 4 . [ A ] B e c a u s e [ B ] W h e n [ C ] l f [ D ] W h e t h e r b r b d s f i d = " 2 1 7 " > 0 0 3 5 . [ A ] a s [ B ] i n [ C ] l i k e [ D ] n e a r b r b d s f i d = " 2 1 8 " > 0 0 3 6 . [ A ] c u s t o m [ B ] u s e [ C ] t r a d i t i o n [ D ] h a b i t b r b d s f i d = " 2 1 9 " > 0 0 3 7 . [ A ] a i m [ B ) p r o p o s e [ C ] s e l e c t [ D ] t e n d b r b d s f i d = " 2 2 0 " > 0 0 3 8 . [ A ] f a s h i o n [ B ] m i s t a k e [ C ] n o n s e n s e [ D ] p o s s i b i l i t y b rb d s f i d = " 2 2 1 " > 0 0 3 9 . [ A ] e v e r y t h i n g [ B ] n o t h i n g [ C ] a n y t h i n g [ D ] t h i n g s b r b d s f i d = " 2 2 2 " > 00 4 0 . [ A ] w h e r e [ B ] t h a t [ C ] w h i c h [ D ] w h e r e v e r b r b d s f i d = " 2 2 3 " > 0 0 4 1 . [ A ] t o [ B ] w i t h [ C ] o n [ D ] a s b r b d s f i d = " 2 2 4 " > 0 0 4 2 . [ A ] p r a c t i c a l [ B ] d o m e s t i c [ C ] n a t i v e [ D ] n e w b r b d s f i d = " 2 2 5 " > 00 4 3 . [ A ] c a r e [ B ] a f f e c t [ C ] t r o u b l e [ D ] m a t t e r b r b d s f i d = " 2 2 6 " > 0 0 4 4 . [ A ] e f f e c t i v e [ B ] s e n s i ti v e [ C ] o r d i n a r y [ D ] c a r e f u l b r b d s f i d = " 2 2 7 " > 0 0 4 5 . [ A ] l i s t e n [ B ] h e a r [ C ] n o t i c e [ D ] f i n d b r b d s f i d = " 2 2 8 " > 0 0 S e c t i o n 1 1 R e a d i n g C o m p r e h e n s i o n b r b d s f i d = " 2 2 9 " > 0 0 ( 4 0 m i n u t e s ) b r b d s f i d = " 2 3 0 " > 0 0 P a r t A b r b d s f i d = " 2 3 1 " > 0 0 D i r e c t i o n s : b r b d s f i d = " 2 3 2 " > 0 0 R e a d t h e f o l l o w i n g t h r e e t e x t s . A n s w e r t h e q u e s t i o n s o n e a c h t e x t b y c h o o s i n g A , B , C o r D . M a r k y o u r a n s w e r s o n t h e A N S W E R S H E E T b y d r a w i n g a t h i c k l i n e a c r o s s t h e c o r r e s p o n d i n g l e t t e r i n t h e b r a c k e t s . b r b d s f i d = " 2 3 3 " > 0 0 T e x t I b r b d s f i d = " 2 3 4 " > 0 0 I f y o u w a n t t o s t a y y o u n g , s i t d o w n a n d h a v e a g o o d t h i n k . T h i s i s t h e r e s e a r c h f i n d i n g o f a t e a m o f J a p a n e s e d o c t o r s , w h o s a y t h a t m o s t o f o u r b r a i n s a r e n o t g e t t i n g e n o u g h e x e r c i s e - a n d a s a r e s u l t , w e a r e a g e i n g u n n e c e s s a r i l y s o o n . b r b d s f i d = " 2 3 5 " > 0 0 P r o f e s s o r T a i j u M a t s u z a w a w a n t e d t o f i n d o u t w h y o t h e r w i s e h e a l t h y f a r m e r s i n n o r t h e r n J a p a n a p p e a r e d t o b e l o s i n g t h e i r a b i l i t y t o t h i n k a n d r e a s o n a t a r e l a t i v e l y e a r l y a g e , a n d h o w t h e p r o c e s s o f a g e i n g c o u l d b e s l o w e d d o w n . b r b d s f i d = " 2 3 6 " > 0 0 W i t h a t e a m o f c o l l e a g u e s a t T o k y o N a t i o n a l U n i v e r s i t y , h e s e t a b o u t m e a s u r i n gb r a i n v o l u m e s o f a t h o u s a n d p e o p l e o f d i f f e r e n t a g e s a n d v a r y i n g oc c u p a t i o n s .。
全国英语等级考试第三级2011年3月笔试真卷
全国英语等级考试第三级2011年3月笔试真卷SECTION Ⅰ Listening Comprehension1～25 略SECTION Ⅱ Use of EnglishDirections:Read the following text. Choose the best word or phrase for each numbered blank and mark A, B, C, or D on ANSWER SHEET 1.What might the house of the future be like? Grace "can tell. More formally known as the Microsoft Home, her high-tech devices, along with (26) in design and construction, will change the (27) we think about our homes.You enter the house, and Grace's (28) , coming from hidden speakers, passes on your messages. In the kitchen, you set a bag of flour on the intelligently (29) stone counter. Grace sees what you're (30) , and projects a list of flour-based food on the counter. (31) you choose one, Grace repeats instructions for cooking. She (32) knows what's in the cupboard.The day when your house will be like a family member is not that far off. This (33) of seamless computing, in which technology is everywhere yet nowhere ( (34) when we want it), is emphasized in most future-home thinking.Microsoft, (35) , isn't the only one exploring (36) technology can make our homes more (37) and comfortable. At the GeorgiaInstitute of Technology, scientists are (38) systems that will allow older people to continue living (39) . So Grandma's home can be intelligently wired to (40) her patterns of wake, sleep and movement; family members would be (41) of any changes via computer.Does spying on Grandma sound (42) ? Director Beth Mynatt says "A good bit of our (43) has been working on how to convey information without (44) privacy. We also don't want to create (45) anxiety. Maybe she just took a quiet day to read, and the system would have to recognize that. "26. [A] promotions [B] applications [C] practices [D] advances27. [A] way [B] manner [C] style [D] scope28. [A] image [B] figure [C] voice [D] sound29. [A] disposed [B] shaped [C] engineered [D] conditioned30. [A] saying [B] feeling [C] searching [D] doing31. [A] Before [B] Once [C] Since [D] Unless32. [A] even [B] thus [C] yet [D] only33. [A] hope [B] passion [C] faith [D] notion34. [A] perhaps [B] except [C] provided [D] especially35. [A] therefore [B] likewise [C] however [D] moreover36. [A] how [B] whether [C] what [D] why37. [A] fashionable [B] complicated [C] efficient [D] attractive38. [A] decorating [B] designing [C] delivering [D] debating39. [A] independently [B] enthusiastically [C] colorfully [D] satisfactorily40. [A] receive [B] recognize [C] represent [D] review41. [A] warned [B] relieved [C] advised [D] informed42. [A] interesting [B] boring [C] disturbing [D] appealing43. [A] analysis [B] research [C] concern [D] focus44. [A] sacrificing [B] affecting [C] preventing [D] losing45. [A] unusual [B] unfortunate [C] uncertain [D] unnecessarySECTION Ⅲ Reading ComprehensionPart ADirections:Read the following three texts. Answer the questions on each text by choosing A, B, C or D. Mark your answers on ANSWER SHEET 1.Text 1Whenever Catherine Brown, a 37-year-old journalist, and her friends, professionals in their 30s and early 40s, meet at a London café, their favorite topic of conversation is relationships: men's reluctance to commit, women's independence, and when to have children—or, increasingly, whether to have them at all. "With the years passing my chances of having a child go down, but I won't marry anyone just to have a child," says Brown. To people like Brown, babies are great—if the timing is right. But they're certainly not essential.In much of the world, having kids is no longer a given. "Never before has childlessness been an understandable decision for women and men in so many societies," says Frank Hakim at the London School of Economics. Young people are extending their child-free adulthood by postponing children until they are well into their 30s, or even40s and beyond.A growing share are ending up with no children at all. Lifetime childlessness in western Germany has hit 30 percent among university-educated women, and is rapidly rising among lower-class men. In Britain, the number of women remaining childless has doubled in 20 years.The latest trend of childlessness does not follow historic patterns. For centuries it was not unusual for a quarter of European women to remain childless. But in the past, childlessness was usually the product of poverty or disaster, of missing men in times of war. Today the decision to have—or not have—a child is the result of a complex combination of factors, including relationships, career opportunities, lifestyle and economics.In some cases childlessness among women can be seen as a quiet form of protest. In Japan, support for working mothers hardly exists. Child care is expensive, men don't help out, and some companies strongly discourage mothers from returning to work. "In Japan, it's career or child," says writer Kaori Haishi. It's not just women who are deciding against children; according to a recent study, Japanese men are even less inclined to marry or want a child. Their motivations, though, may have more to do with economic factors.46. Catherine Brown and her friends feel that having children is not______.[A] totally wise[B] a huge problem[C] a rational choice[D] absolutely necessary47. It can be inferred that, for many women, having babies nowadays is______.[A] a hard commitment[B] helpful to their career[C] essential for happiness[D] an understandable decision48. In the old days, many women remained childless ______.[A] as a quiet form of protest[B] because of lack of support[C] because of unfortunate circumstances[D] because they lacked social responsibility49. We learn that childlessness at present ______.[A] affects Europe more than it does Asia[B] produces more benefits than in the past[C] is more a woman's decision than a man's[D] is more complex in its cause than that in the past50. According to the text, when a Japanese man decides not tohave children, he probably feels unable to ______.[A] help with housework[B] afford to have a child[C] be a responsible father[D] balance work and familyText 2Faced with a mission-critical decision, who would you turn to for advice? Someone you had great confidence in, surely. But severallines of research show that our instincts about where to turn to for counsel are often not completely correct.My research looks at prejudices that affect how people use advice, including why they often blindly follow recommendations from peoplewho—as far as they know—are as knowledgeable as they are. In studies I conducted with Don Moore of Camegie Mellon University, for example, I found that people tend to overvalue advice when the problem they're addressing is hard and to undervalue it when the problem is easy.In our experiments, subjects were asked to guess the weight of people in various pictures, some of which were in focus and some of which were unclear. For each picture, subjects guessed twice: thefirst time without advice and the second time with input from another participant. When the pictures were in focus, we found, subjects tended to discount the advice; apparently, they were confident in their ability to guess correctly. When the pictures were unclear, subjects leaned heavily on the advice of others and seemed less secure about their initial opinion. Because they misjudged the value of the advice they received—consistently overvaluing or undervaluing it depending on the difficulty of the problem—our subjects did not make the best guesses overall. They would have done better if they'd considered the advice equally, and to a moderate degree, on both hard and easy tasks.Another advice-related prejudice I've found compels people to overvalue advice that they pay for. In one study I conducted, subjects answered different sets of questions about American history. Before answering some of the questions, they could get advice on the correct answer from another subject whom they knew was no more expert than they were. In one version of the experiment, people could get advice for free, while in another version, they paid for it. When they paid for advice, people tended to have firm belief in it, I suspect, by a combination of sunk-cost preju-dice and the nearly instinctual belief that cost and quality are linked.51. In the face of a mission-critical decision, people tend to______.[A] trust their own efforts[B] rely on research findings[C] get affected by other's opinion[D] seek help from the more knowledgable52. Research shows that when faced with difficult problems people often ______.[A] discount others' advice[B] overlook others' advice[C] disagree with others' advice[D] over-rely on others' advice53. The first experiment tries to prove how objective conditions ______.[A] strengthen people's initial opinion[B] strengthen people's self-confidence[C] influence people's response to advice[D] influence people's guess of weight loss54. It can be inferred that people are likely to ______.[A] undervalue free advice[B] overvalue peer's advice[C] misinterpret specialist advice[D] misjudge their instinctual belief55. The two experiments mentioned in the text reveal ______.[A] how to follow others' advice[B] how to understand others' advice[C] what causes people to seek adviceI D] what affects people's attitude to adviceText 3Top National Health Service (NHS) nurses will be able to earn $ 40,000 a year without leaving frontline patient care in a modification to salary structures. New "super nurse" grades will be created to enable the best staff to increase their salaries without having to move into management desk jobs. Currently the most senior NHS nurses can earn a maximum $ 28,000 a year unless they are willing to withdraw from the frontline and become administrators. Hundreds of experienced and highly-qualified nurses are lost to patient care every year because of this oddity.While only a few thousand of Britain's 332,000 NHS nurses will qualify for the $ 40,000-plus salary, fast-track promotion schemes and a simpler grading system will increase the pay of many more. The government announced that a new simplified career structure would see just four grades replacing the existing six. Nurses will begin their careers as healthcare assistants before moving up to registered practitioner grade, followed by senior registered practitioner and ultimately, consultant practitioner and a $ 40,000 salary."Nurses are rising to the challenge of modernisation," said a government official. "These proposals will help them improve their professional role further and provide a better service to patients. We do not think that in order to be paid more, nurses should have to move into management. Nur-ses working at the sharp end of patient care should have a career structure which no longer penalises themfor wanting to stay there. "The Nursing Strategy will include proposals to allow moreflexible training courses and improve oppommities for qualified nurses who have left the profession to return in parttime roles. The Royal College of Nursing welcomed the reforms. The top salary level falls into line with figures it had presented to ministers.56. Hundreds of experienced nurses are lost to patient care every year because they ______.[A] dislike the nursing job[B] are dissatisfied with their pay[C] are replaced by "super nurses"[D] lack further training for the profession57. The new system will mostly benefit those who ______.[A] move into management[B] work on a part time basis[C] have retired from the nursing job[D] have reached the top of the system58. The new career structure is different from the existing onein its ______.[A] quality of nurses' services[B] possibility of a job transfer[C] opportunities for promotion[D] simplicity of nurses' grades59. The Nursing Strategy will be adopted in order to ______.[A] provide more consultation to practitioners[B] encourage experienced nurses to work part time[C] enable the most experienced nurses to be paid more[D] promote the most experienced nurses to management60. The Royal College of Nursing ______.[A] proposed similar top salary for nurses[B] raised the management issue to ministers[C] suggested a four-grade system for nurses[D] put forward the Nursing Strategy to ministersPart BDirections:Read the texts taken from five people's comments on an article on the issue of global poverty. For questions 61 to 65, match the name of each person (61 to 65) to one of the statements (A to G) given below. Mark your answers on your ANSWER SHEET 1.Ankita Agarwal:Your article made me ashamed. I've always thought of myself as not the typical self-absorbed teenager, but I guess I was wrong. While I sit in my large, warm and cozy house, wishing for the shoes and clothes I see in teen magazines, there are people in the world wishing for something as simple as clean water. Thank you for reminding me about people who would be more than happy with what I have.Janet Tejada:What about the relationship between population, consumption and resources? After all, poverty, most simply defined, is not havingenough resources. The steady growth of the global population, overconsumption of resources by developed nations such as the U. S. , and increasing levels of consumption among the growing middle classin many developing nations ensure that there is ever less of the planet's already dwindling resources to go around.Tadaship Kawabe:Extreme poverty is so tragic. Sudden natural disasters like an earthquake mobilize a large number of people and money for a short period of time, while the slow but massive wave of poverty and death in Africa doesn't attract the world's attention in the same way. When we try to help those affected by disasters and extreme poverty, however, we shouldn't focus on the overwhelming number of the dead but simply try to do something good for others.Jane Thomas:The poor should be trained to organize, set priorities and develop skills and resources to put their own community plans into action. What your article proposes is the conventional top-down way for doing things: outsiders determine the priorities and solutions, then throw money at them. To actually help, we must first develop our own skills and understanding. We need to find out what the poor want and" what the root causes of the problems are. We have to listen to poor people.Sanjay Kathe:Concerned and sensible people's endeavors to reduce poverty in underdeveloped countries are deserving of high praise. It is sad, however, that only a small part of the funds raised for the pool actually reach them. The generous people who donate money to reduce poverty would be more successful if they spent time in the poor nations to check first-hand the use of their funds.Now match the name of each person (61 to 65) to the appropriate statement.Note: there are two extra statements.Statements[A] What we should do is to help the poor help themselves.[B] I have always been deeply grieved by the tragic disasters.[C] The root of poverty lies in the unfair distribution of resources.[D] The situation in Africa has been overlooked by the world.[E] The use of donated funds should be put under strict control.[F] People living in prosperity should cherish what they have.[G] It's our duty to end global poverty.61. Ankita Agarwal62. Janet Tejada63. Tadaship Kawabe64. Jane Thomas65. Sanjay KatheSECTION Ⅳ WritingDirections:You should write your responses to both Part A and Part B of this section on ANSWER SHEET 2.Part A66. You've just moved into a neighborhood where you find the current public transport is inadequate, and so you want a new busline opened to solve the problem.Write a letter to the bus company,1) making a request for a new bus line;2) stating the reasons for your request;3) expressing your eagerness for solution.You should write about 100 words. Do not sign your own name at the end of your email.Use "Wang Lin" instead. You do not need to write the address.Part B67. Look at the picture below and write an essay of about 120 words making reference to the following two points:1) a description of the picture;2) your suggestions on how to protect consumers' rights.参考答案及精析第一部分听力1～25略第二部分英语知识运用26.D[精析] 本题考查名词词义辨析。
2011年CFA Level 3考试准备计划
2010年6月CFA Level 3考试准备计划相信各位能走到今天，至少都经历了一年半的时间和大笔白花花的银子。
CFA三级，也是CFA考试的收官之战，在题型和难度上都上了一个档次。
CFA三级考试更加注重于对CFA 一级和CFA二级知识的综合运用以及对考生主观能动性的调动。
单纯的记忆已经不能应付CFA三级的考试，更重要的是理解和应用。
但是既然各位能顺利通过CFA一级和CFA二级，也都是身经百战，各怀绝技，所以CFA 三级虽难，却不应成为各位向金融专业分析师迈进的阻碍。
从现在开始距离今年6月的CFA 考试还有16周的时间，不长不短，相信正在准备CFA三级的考生可能也不像之前那样有大把的时间去复习。
因此整个过程，备考者要注重的就是计划和效率。
《保罗时报》为了帮助大家顺利完成三级考试，特地制订了一个16周攻克考试的计划。
虽然相信各位早已有了自己的学习计划和方案，但《保罗时报》仍希望可以在各位前进的道路中起到一些微小的推动作用。
《保罗时报》CFA三级考试复习计划从2010年2月15日正式开始，至2010年6月5日考试，一共16个星期。
《保罗时报》CFA三级考试复习计划将以短平快的作战方针，打乱顺序，以最有效的方法来攻克CFA三级考试。
首先，《保罗时报》CFA三级考试复习计划将跨过道德部分的学习，将其留到最后。
所以CFA三级考试复习计划学习将从Study Session 3—Reading 7 开始。
一、前3个星期，即2月15日至3月7日，完成对notes的第一遍阅读。
这个过程中不需要做课后题，只要把知识读完，对三级知识有一个整体的了解就可以。
而且在这个过程中，大家也可以发现哪一部分比较难或不熟悉，这样就可以在复习的第二个阶段有意识地进行重点攻克。
对于那些比较简单的，则可以在第二个阶段中简略跳过。
二、中间9个星期，即3月8日至5月9日，进行对notes的第二遍阅读，并同时完成notes 后的题目。
在有了第一遍阅读对notes的了解之后，第二遍notes阅读以应用和个人发挥为主。
《FA3》期末闭卷考试题
《 FA3 》期末闭卷考试题（下述1—5题全作计100分，两小时完卷）考试日期：试题全文：遵守考场纪律，防止一念之差贻误终生。
Question 11 2 3 4 5 6 7 8 9 1011 12 13 14 15 16 17 18 19 20 Question 1 multiple Choices 2’×20＝40’1．On January 1, 2007, Didde Co. leased a building to Ellis Corp. for a ten-year term at an annual rental of $80,000. At inception of the lease, Didde received $320,000covering the first two years' rent of $160,000 and a security deposit of $160,000.This deposit will not be returned to Ellis upon expiration of the lease but will beapplied to payment of rent for the last two years of the lease. What portion of the$320,000 should be shown as a current and long-term liability, respectively, inDidde's December 31, 2007 balance sheet?Current Liability Long-term Liabilitya. $0 $320,000b. $80,000 $160,000c. $160,000 $160,000d. $160,000 $80,0002．Utley Trading Stamp Co. records stamp service revenue and provides for the cost of redemptions in the year stamps are sold to licensees. Utley's past experien ceindicates that only 80% of the stamps sold to licensees will be redeemed. Utley'sliability for stamp redemptions was $7,500,000 at December 31, 2005. Additionalinformation for 2006 is as follows:Stamp service revenue from stamps sold to licensees $5,000,000Cost of redemptions 3,400,000 If all the stamps sold in 2006 were presented for redemption in 2007, theredemption cost would be $2,500,000. What amount should Utley report as aliability for stamp redemptions at December 31, 2006?a. $9,100,000.b. $6,600,000.c. $6,100,000.d. $4,100,000.3．In March 2007, an explosion occurred at Howe Co.'s plant, causing damage to area properties. By May 2007, no claims had yet been asserted against Howe.However, Howe's management and legal counsel concluded that it wasreasonably possible that Howe would be held responsible for negligence, and that$4,000,000 would be a reasonable estimate of the damages. Howe's $5,000,000comprehensive public liability policy contains a $400,000 deductible clause. InHowe's December 31, 2006 financial statements, for which the auditor's fieldworkwas completed in April 2007, how should this casualty be reported?a. As a note disclosing a possible liability of $4,000,000.b. As an accrued liability of $400,000.c. As a note disclosing a possible liability of $400,000.d. No note disclosure of accrual is required for 2006 because the event occurredin 2007.4．Limeway Company issues $5,000,000, 6%, 5-year bonds dated January 1, 2007 on January 1, 2007. The bonds pay interest semiannually on June 30 and December31. The bonds are issued to yield 5%. What are the proceeds from the bondissue?2.5%3.0% 5.0% 6.0% Present value of a single sum for 5 periods .88385 .86261 .78353 .74726 Present value of a single sum for 10 periods .78120 .74409 .61391 .55839 Present value of an annuity for 5 periods4.64583 4.57971 4.32948 4.21236 Present value of an annuity for 10 periods 8.75206 8.53020 7.72173 7.36009a. $5,000,000b. $5,216,494c. $5,218,809d. $5,217,3085.On January 1, 2007, Foley Co. sold 12% bonds with a face value of $600,000. Thebonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $646,200 to yield 10%. Using the effective-interest method of amortization, interest expense for 2007 isa. $60,000.b. $64,436.c. $64,620.d. $72,0006.A ten-year bond was issued in 2005 at a discount with a call provision to retire the bonds.When the bond issuer exercised the call provision on an interest date in 2007, the carrying amount of the bond was less than the call price. The amount of bond liability removed from the accounts in 2007 should have equaled thea. call price.b. call price less unamortized discount.c. face amount less unamortized discount.d. face amount plus unamortized discount.7.Bleeker Company issued 10,000 shares of its $5 par value common stock having amarket value of $25 per share and 15,000 shares of its $15 par value preferred stock having a market value of $20 per share for a lump sum of $480,000. How much of the proceeds would be allocated to the common stock?a. $50,000b. $218,182c. $250,000d. $255,0008．On June 30, 2007, when Vietti Co.'s stock was selling at $65 per share, its capital accounts were as follows:Capital stock (par value $50; 60,000 shares issued) $3,000,000Premium on capital stock 600,000Retained earnings 4,200,000 If a 100% stock dividend were declared and distributed, capital stock would bea. $3,000,000.b. $3,600,000.c. $6,000,000.d. $7,800,000.9．On January 2, 2006, Carr Co. issued 10-year convertible bonds at 105. During 2008, these bonds were converted into common stock having an aggregate par value equal to the total face amount of the bonds. At conversion, the market price of Carr’s common stock was 50 percent abo ve its par value. On January 2, 2006, cash proceeds from the issuance of the convertible bonds should be reported asa. paid-in capital for the entire proceeds.b. paid-in capital for the portion of the proceeds attributable to the conversionfeature and as a liability for the balance.c. a liability for the face amount of the bonds and paid-in capital for the premiumover the face amount.d. a liability for the entire proceeds.10．On January 1, 2007, Doane Corp. granted an employee an option to purchase 6,000 shares of Doane's $5 par value common stock at $20 per share. The Black-Scholes option pricing model determines total compensation expense to be $140,000. The option became exercisable on December 31, 2008, after the employee completed two years of service. The market prices of Doane's stock were as follows:January 1, 2007 $30December 31, 2008 50For 2008, Doane should recognize compensation expense under the fair value method ofa. $90,000.b. $30,000.c. $70,000.d. $0.11.The accounting for fair value hedges records the derivative at itsa. amortized cost.b. carrying value.c. fair value.d. historical cost.12．Gains or losses on cash flow hedges area. ignored completely.b. recorded in equity, as part of other comprehensive income.c. reported directly in net income.d. reported directly in retained earnings.Use the following information for questions 13 through 15.Hefner Co. at the end of 2007, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows:Pretax financial income $ 500,000Estimated litigation expense 1,250,000Installment sales (1,000,000)Taxable income $ 750,000The estimated litigation expense of $1,250,000 will be deductible in 2009 when it is expected to be paid. The gross profit from the installment sales will be realized in the amount of $500,000 in each of the next two years. The estimated liability for litigation is classified as noncurrent and the installment accounts receivable are classified a s $500,000 current and $500,000 noncurrent. The income tax rate is 30% for all years.13.The income tax expense isa. $150,000.b. $225,000.c. $250,000.d. $500,000.14．The deferred tax asset to be recognized isa. $0.b. $75,000 current.c. $375,000 current.d. $375,000 noncurrent.15．The deferred tax liability—current to be recognized isa. $75,000.b. $225,000.c. $150,000.d. $300,000.16．Presented below is pension information related to Tyler, Inc. for the year 2008: Service cost $72,000Interest on projected benefit obligation 54,000Interest on vested benefits 24,000Amortization of prior service cost due to increase in benefits 12,000Expected return on plan assets 18,000 The amount of pension expense to be reported for 2008 isa. $108,000.b. $144,000.c. $162,000.d. $120,000.Use the following information for questions 17 and 18.On January 1, 2008, Carley Corporation signed a five-year noncancelable lease for equipment. The terms of the lease called for Carley to make annual payments of $60,000 at the end of each year for five years with title to pass to Carley at the end of this period. The equipment has an estimated useful life of 7 years and no salvage value. Carley uses the straight-line method of depreciation for all of its fixed assets. Carley accordingly accounts for this lease transaction as a capital lease. The minimum lease payments were determined to have a present value of $227,448 at an effective interest rate of 10%.17. With respect to this capitalized lease, for 2008 Carley should recorda. rent expense of $60,000.b. interest expense of $22,745 and depreciation expense of $45,489.c. interest expense of $22,745 and depreciation expense of $32,493.d. interest expense of $30,000 and depreciation expense of $45,489.18．With respect to this capitalized lease, for 2009 Carley should recorda. interest expense of $22,745 and depreciation expense of $32,493.b. interest expense of $20,469 and depreciation expense of $32,493.c. interest expense of $19,019 and depreciation expense of $32,493.d. interest expense of $14,469 and depreciation expense of $32,493. 19．Which of the following should be reported as a prior period adjustment?Change in Change fromEstimated Lives Unaccepted Principleof Depreciable Assets to Accepted Principlea. Yes Yesb. No Yesc. Yes Nod. No No20．On December 31, 2008, Ellworth, Inc. appropriately changed its inventory valuation method to FIFO cost from weighted-average cost for financial statement and income tax purposes. The change will result in a $1,500,000 increase in the beginning inventory at January 1, 2008. Assume a 30% income tax rate. The cumulative effect of this accounting change on beginning retained earnings isa. $0.b. $450,000.c. $1,050,000.d. $1,500,000.Question 2 3’×3＝9’Below are three independent situations.1. In August, 2007 a worker was injured in the factory in an accident partially the result ofhis own negligence. The worker has sued Rooney Co. for $800,000. Counsel believes it is reasonably possible that the outcome of the suit will be unfavorable and that the settlement would cost the company from $250,000 to $500,000.2. A suit for breach of contract seeking damages of $2,400,000 was filed by an authoragainst Early Co. on October 4, 2007. Early's legal counsel believes that an unfavorable outcome is probable. A reasonable estimate of the award to the plaintiff is between$600,000 and $1,800,000. No amount within this range is a better estimate of potential damages than any other amount.3. Peete is involved in a pendi ng court case. Peete’s lawyers believe it is probable thatPeete will be awarded damages of $1,000,000.InstructionsDiscuss the proper accounting treatment, including any required disclosures, for each situation. Give the rationale for your answers.Question 3.2’×9＝18’Indicate the effect of each of the following transactions on total stockholders' equity by placing an "X" in the appropriate column.Increase Decrease No effect1. Treasury stock is resold at more than cost. _________ _________ _________2. Operating loss for the period. _________ _________ _________3. Retirement of bonds payable at more thanbook value. _________ _________ _________4. Declaration of a stock dividend. _________ _________ _________5. Acquisition of machinery for common stock. _________ _________ _________6. Conversion of bonds payable into commonstock. _________ _________ _________ 7. Not declaring a dividend on cumulativepreferred stock. _________ _________ _________8. Declaration of cash dividend. _________ _________ _________9. Payment of cash dividend. _________ _________ _________Question 4 13’Presented below is information related to Berry Company.1. Net Income [including an extraordinary gain (net of tax) of $70,000] $230,0002. Capital Structurea. Cumulative 8% preferred stock, $100 par,6,000 shares issued and outstanding $600,000b. $10 par common stock, 74,000 shares outstanding on January 1.On April 1, 40,000 shares were issued for cash. On October 1,16,000 shares were purchased and retired. $1,000,000c. On January 2 of the current year, Berry purchased Raye Corporation.One of the terms of the purchase was that if Berry 's net income for thefollowing year is $2400,000 or more, 50,000 additional shares wouldbe issued to Raye stockholders next year.3. Other Informationa. Average market price per share of common stock during entire year $30b. Income tax rate 30%InstructionsCompute earnings per share for the current year.Question 5 20’Presented below is information related to the pension plan of Vector Inc. for the year 2008.1. The service cost of pension expense is $240,000 using the projected benefitsapproach.2. The projected benefit obligation and the accumulated benefit obligation at thebeginning of the year are $300,000 and $280,000, respectively. The expected return on plan assets is 9% and the settlement rate is 10%3. The unrecognized prior service cost at the beginning of the year is $140,000. Thecompany has a workforce of 200 employees, all who are expected to receive benefits under the plan. The total number of service-years is 1,000 and the service-years attributable to 2008 is 200. The company has decided to use the years-of-service method of amortization for these costs.4. At the beginning of the period, the market-related asset value was $280,000 and thefair value of pension plan assets, $284,000. The company had an unrecognized net loss at the beginning of the period of $90,000. Any amortization of unrecognized net loss is recognized on a straight-line basis over the average remaining service-life of the employees.5. The contribution made to the pension fund in 2008 was $231,000.Instructions(a) Determine the pension expense to be reported on the income statement for 2008.(Round all computations to nearest dollar.)(b) Prepare the journal entry(ies) to record pension expense for 2008.亲爱的朋友，上文已完，为感谢你的阅读，特加送另一篇范文，如果下文你不需要，可以下载后编辑删除，谢谢！矿井水灾事故专项应急演练方案1 应急演练目的、意义和目标1.1应急演练目的①评估我矿水灾事故的应急准备状态，发现并修改我矿水灾事故专项应急预案和执行程序中存在的缺陷和不足；②评估我矿在发生水灾事故时的应急能力，识别处理水灾事故的资源需求，澄清相关单位和人员的应急职责，改善水灾事故应急救援中的组织协调问题；③检验应急响应人员对水灾事故应急预案及执行程序的了解程度和实际操作技能；同时，通过调整演练难度，进一步培训和提高应急响应人员的业务素质和能力；④提高全员安全意识。
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The exam includes discussion questions, calculations and journal entries. As per the front cover of the exam, all journal entries must include narrations. From 2011 you will have to complete a consolidation worksheet in the exam so make sure you go back through examples in the tutorial questions From 2011 the exam has been shortened slightly compared to this sample version but the choice was made to leave the sample the same so that students had more questions with which to practice. Refer to the Revision Lecture for more details on the format of the final exam.
ACCT3007 Financial Accounting 3, Sample Examination
Page 3 of 21
PART ONE – COMPLETE THESE QUESTIONS IN A SEPARATE EXAMINATION BOOKLET
QUESTION 1: REVENUE DATES FOR RECOGNITION Rubicon Ltd sells plastic bottles. Wholesale customers that purchase more than 10 000 bottles per month are entitled to a discount of 6% on their purchases. On 1 March 2011, Macquarie Ltd ordered 10 crates of bottles from Rubicon Ltd. Each create contains 2000 bottles. The normal selling price per crate is $400. Rubicon delivered the 10 crates on 15 March 2011. Macquarie Ltd paid for the goods on 15 April 2011. The end of Rubicon Ltd’s reporting period is 30 June. Required: Prepare the journal entries to record this transaction by Rubicon Ltd for the year ended 30 June 2011. (Adapted from Picker et al. 2009) 5 Marks QUESTION 2: PERCENTAGE OF COMPLETION Small Construction Company signs a contract on 1 July 2009, agreeing to build a Grain Storage Silo for the Wheat Board at a contract price of $12 million. Small Construction Company estimates that construction costs will be as follows: 2009 $3 million 2010 $4.8 million 2011 $1.8 million The contract provides that the Wheat Board will make payments on 31 December as follows: 2009 $2.4 million 2010 $6 million 2011 $3.6 million The contract is completed and accepted on 31 December 2011. Assume that the actual costs and cash collections coincide with expectations and that the percentage of completion can be reliably measured. Small Construction Company has a financial year ending 31 December. Required: Show your calculations of the percentage complete for all three years and the journal entries for the year ended 31 December 2009. 5 Marks
If you are required to use a calculator, please note the make and model here Length of Exam:
Official Reading Time: Additional Reading Time (included in length of exam): Total Recommended Reading Time: Instructions to Candidates:
Show all calculations for all questions in the exam answer books (i.e. not on the scribble paper or the exam questions). Include narrations for all journal entries in the exam. Candidates have been provided with three exam script book. Answers should be provided in these as follows: Examination Booklet 1 Examination Booklet 2 Examination Booklet 3 Questions 1, 2, 3, 4 & 5 Questions 6, 7, 8 & 9 Questions 10 & 11
SAMPLE EXAM
School
CMR
Subject Area & Catalogue number
ACCT3007
Paper
1
Course Name
Financial Accounting 3
Student ID Given Name/s
Surname Brand Model 3 hours 10 Minutes NIL 10let begin each question on a new page. Both within the books and on their covers clearly number each question and part thereof. In accordance with the Examination Procedures 6.1.7 Unless otherwise specified, either in the course information booklet or as an agreed provision under Section 3 of this Manual, a student must not take into the examination room any item with the potential to provide them or any other student with an advantage. This includes, but is not limited to: a. text books or any other book, including dictionaries b. calculators
ACCT3007 Financial Accounting 3, Sample Examination
Page 1 of 21
c. mobile telephones, personal digital assistants, messaging devices or any other electronic device d. notes, or other written documents e. personal items or devices f. examination answer booklets, attendance slips or any paper. 6.1.8 Any items which have been specified in the course information booklet as being allowed in the examination room must not be enhanced or tampered with in any way that provides an additional advantage to the student or any other student. In this course the following exceptions are authorised by the examiner: An unmarked paper based bilingual dictionary that is not of a technical nature a non-programmable calculator a copy of the Accounting Handbook (2009) or (2010). Only original material is allowed – photocopies are not permitted. This material must have no tabs and be unmarked except for highlighting or underlining. Nothing else is allowed to be taken into the exam. The following is a breakdown of the marks to be awarded and a SUGGESTED breakdown of the 3 hour examination time. Marks Part 1 Questions 1 & 2 Questions 3 & 4 Question 5 Part 2 Questions 6 & 7 Questions 8 & 9 Part 3 Questions 10 & 11 Revenue Employee Benefits Associates Financial Instruments Consolidations – pre-acq. Consol. – intragroup & NCI 10 10 10 20 20 30 Suggested Time 18 minutes 18 minutes 18 minutes 36 minutes 36 minutes 54 minutes