ACCA P4-P7模拟题及解析(6)
ACCA-F7-知识点总结
ACCA考试F7知识点辅导I. The accounting problemBefore IAS37 provisions were recognized on the basis of prudence，little guidance was given on when a provision should be recognized and how it should be measured. This gave rise to inconsistencies，and also allowed profits to be manipulated.Some problems are noted below：(a) Provisions could be recognized on the basis of management intentions，rather than on any obligation to be entity;(b) Several items could be combined into one large provision. There were known as ‘big bath’ provisions;(c) A provision could be created for one purpose and then used for another;(d) Poor disclosure made it difficult to assess the effect of provisions on reported profits. In particular，provisions could be created when profits were high and released when profits were low in order to smooth profits.(1) DefinitionsIAS 37 views a provision as a liability.A provision is a liability of uncertainty timing or amount;A liability is an obligation of an enterprise to transfer economic benefits as a result of past transactions or events.Provision must be based on obligations，not management intentions.(2) Under IAS37， a provision should be recognized：a. When an enterprise has a present obligation;b. It is probable that a transfer of economic benefits will be required to settle it;c. A reliable estimate can be made of its amount; if a reasonable estimate cannot be made，then the nature of the provision and the uncertainties relating to the amount and timing of the cash flows should be disclosed.A provision is made for something which will probably happen. It should be recognizedwhen it is probable that a transfer of economic events will take place and when its amount can be estimated reliably.(3) Contingent liabilitiesDefinitionThe Standard defines a contingent liability as：(a) A possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the enterprise; or(b) A present obligation that arises from past events but is not recognized because：(i) It is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or(ii) The amount of the obligation cannot be measured with sufficient reliability.As a rule of thumb，probable means more than 50% likely. If an obligation is probable，it is not a contingent liability – instead，a provision is needed.Treatment of contingent liabilitiesContingent liabilities should not be recognized in financial statements but they should be disclosed. The required disclosures are：(a) A brief description of the nature of the contingent liability;(b) An estimate of its financial effect;(c) An indication of the uncertainties that exist;(d) The possibility of any reimbursement;(4) Contingent assetsDefinitionA possible asset that arises from the past events whose existence will be confirmed by the occurrence of one or more uncertain future events not wholly within the enterprise’s control.A contingent asset must not be recognized. Only when the realization of the relatedeconomic benefits is virtually certain should recognition take place. At that point，the asset is no longer a contingent asset.Disclosure：contingent assetsContingent assets must only be disclosed in the notes if they are probable. In that case a brief description of the contingent asset should be provided along with an estimate of its likely financial effect.II. Specific application1. Future operating lossesIn the past，provisions were recognized for future operating losses on the grounds of prudence. However these should not be provided for the following reasons.①They relate to future events;②There is no obligation to a third party. The loss-making business could be closed and the losses avoided.2. Onerous contractsAn onerous contract is a contract in which the unavoidable costs of meeting the contract exceed the economic benefits expected to be received under it.A common example of an onerous contract is a lease on a surplus factory. The leaseholder is legally obliged to carry on paying the rent on the factory，but they will not get any benefit from using the factory.The least net cost of an onerous contract should be recognized as a provision. The least net cost is the lower of the cost of fulfilling the contract or of terminating it and suffering any penalty payments.Some assets may have been bought specifically for the onerous contract. These should be reviewed for impairment before any separate provision is made for the contract itself.1DemoDroopers has recently bought all of the trade，assets and liabilities of Dolittle，an unincorporatd business. As part of the take-over all of the combined business’s activities have been relocated at Droopers main site. As a result Dolittle’s premises are now empty and surplus to requirements.However，just before the acquisition Dolittle had signed a three year lease for their premises at $6000 per calendar month. At 31 December 2003 this lease ad 32 months left to run and the landlord had refused to terminate the lease. A sub-tenant had taken over part of the premises for the rest of the lease at a rent of $2500 per calendar month.Required(a) Should Droopers recognized a provision for an onerous contract in respect of this lease?(b) Show how this information will be presented in the financial statements for 2003 and 2004. Ignore the time value of money.Solution：Droopers has a legal obligation to pay a further $192000 to the landlord，as a result of a lease signed before the year end. Therefore an onerous contract exists and must be provided for.There is also an amount recoverable form the sub-tenant of $80000(32×2500). This will be shown separately in the balance sheet as an asset.The $192000 payable and the $80000 recoverable can be netted off in the income statement.income statements20032004$$provision for onerous lease contract(net)112000 Dr.net rental payable on lease (72-30)-42000 Drrelease of provision42000 Cr112000 Dr.balance sheetsreceivalbesamounts recoverable from sub-tenants80000 Dr.50000 Drliabilitiesamounts payable on onerous contracts192000 Cr120000 Cr3. RestructuringA restructuring is a programme that is planned and controlled by management and has a material effect on：①The scope of a business undertaken by the reporting entity in terms of the products or services it provides; or②The manner in which a business undertaken by the reporting entity is conducted;Restructuring includes terminating a line of business，closure of business locations，changes in management structure，and refocusing a business’s operations.Restructuring provisions have always been quite common，and have often been misused. IAS37 restricts the recognition of restructuring provisions to situations where an entity has a constructive obligation to restructure.A constructive obligation will only arise if：①There is a detailed formal plan for restructuring. This must identify the businesses，locations and employees affected; and②Those affected have a valid expectation that the restructuring will be carried out. This can be by starting to implement the plan or by announcing it to those affected.The constructive obligation must exist at the year-end.(Any obligation arising after the year end may require disclosure under IAS10)A board decision alone will not create a constructive obligation unless：①The plan is already being implemented. For example，assets are being sold，redundancy negotiations have begun; or②The plan has been announced to those affected by it. The plan must have a strict timeframe without unreasonable delays; or③The Board itself contains representatives of employees or other groups affected by the decision.(This is common in mainland Europe.)An announcement to sell an operation will not create a constructive obligation. An obligation will only arise when a purchaser is found and there is a binding sale agreement.A restructuring provision should only include the direct costs of restructuring. These must be both：(a) Necessarily entailed by the restructuring; and(b) Not associated with the ongoing activities of the entity;The following costs must not be provided for because they relate to future events：(a) Retaining or relocating staff;(b) Marketing;(c) Investment in new systems and distribution networks;(d) Future operating losses (unless arising from an onerous contract)(e) Profits on disposal of assets.cca f7真题对于acca f7的考试的重要性我相信各位acca考生都心知肚明了，首先我们先看一下acca f7科目的考试内容ACCA F7科目介绍：F7《财务报告》是F3《财务会计》的后续课程或说是升级课程。
2018年9月ACCA考试P2公司报告真题及标准答案
2018骞?鏈圓CCA鑰冭瘯P2鍏徃鎶ュ憡鐪熼(鎬诲垎锛?00.00锛屽仛棰樻椂闂达細195鍒嗛挓)涓€銆丼ection A(鎬婚鏁帮細2锛屽垎鏁帮細50.00)BackgroundBanana is the parent of a listed group of companies which have a year end of 30 June 20X7. Banana has made a number of acquisitions and disposals of investments during the current financial year and the directors require advice as to the correct accounting treatment of these acquisitions and disposals.The acquisition of GrapeOn 1 January 20X7, Banana acquired an 80% equity interest in Grape. The following is a summary of Grape’s equity at the acquisition date.The purchase consideration comprised 10 million of Banana’s shares which had a nominal value of $1 each and a market price of $6·80 each. Additionally, cash of $18 million was due to be paid on 1 January 20X9 if the net profit after tax of Grape grew by 5% in each of the two years following acquisition. The present value of the total contingent consideration at 1 January 20X7 was $16 million. It was felt that there was a 25% chance of the profit target being met. At acquisition, the only adjustment required to the identifiable net assets of Grape was for land which had a fair value $5 million higher than its carrying amount. This is not included within the $70 million equity of Grape at 1 January 20X7.Goodwill for the consolidated financial statements has been incorrectly calculated as follows:The financial director did not take into account the contingent cash since it was not probable that it would be paid. Additionally, he measured the non-controlling interest using the proportional method of net assets despite the group having a published policy to measure non-controlling interest at fair value. The share price of Grape at acquisition was $4·25 and should be used to value the non-controlling interest.The acquisition and subsequent disposal of StrawberryBanana had purchased a 40% equity interest in Strawberry for $18 million a number of years ago when the fair value of the identifiable net assets was $44 million. Since acquisition, Banana had the right to appoint one of the five directors on the board of Strawberry. The investment has always been equity accounted for in the consolidated financial statements of Banana. Banana disposed of 75% of its 40% investment on 1 October 20X6 for $19 million whenthe fair values of the identifiable net assets of Strawberry were $50 million. At that date, Banana lost its right to appoint one director to the board. The fair value of the remaining 10% equity interest was $4·5 million a t disposal but only $4 million at 30 June 20X7. Banana has recorded a loss in reserves of $14 million calculated as the difference between the price paid of $18 million and the fair value of $4 million at the reporting date. Banana has stated that they have no intention to sell their remaining shares in Strawberry and wish to classify the remaining 10% interest as fair value through other comprehensive income in accordance with IFRS® 9 Financial Instruments.The acquisition of MelonOn 30 June 20X7, Banana acquired all of the shares of Melon, an entity which operates in the biotechnology industry. Melon was only recently formed and its only asset consists of a licence to carry out research activities. Melon has no employees as research activities were outsourced to other companies. The activities are still at a very early stage and it is not clear that any definitive product would result from the activities. A management company provides personnel for Melon to supply supervisory activities and administrative functions. Banana believes that Melon does not constitute a business in accordance with IFRS 3 Business Combinations since it does not have employees nor carries out any of its own processes. Banana intends to employ its own staff to operate Melon rather than to continue to use the services of the management company. The directors of Banana therefore believethat Melon should be treated as an asset acquisition but are uncertain as to whether the International Accounting Standards Boa rd’s exposure draft Definition of a Business and Accounting for Previously Held Interests ED 2016/1 would revise this conclusion.The acquisition of bondsOn 1 July 20X5, Banana acquired $10 million 5% bonds at par with interest being due at 30 June each year. The bonds are repayable at a substantial premium so that the effective rate of interest was 7%. Banana intended to hold the bonds to collect the contractual cash flows arising from the bonds and measured them at amortised cost.On 1 July 20X6, Banana sold the bonds to a third party for $8 million. The fair value of the bonds was $10·5 million at that date. Banana has the right to repurchase the bonds on 1 July 20X8 for $8·8 million and it is likely that this option will be exercised. The third party is obliged to return the coupon interest to Banana and to pay additional cash to Banana should bond values rise. Banana will also compensate the third party for any devaluation of the bonds.Required:锛堝垎鏁帮細30锛?/p>(1).Draft an explanatory note to the directors of Banana, discussing the following:(i) how goodwill should have been calculated on the acquisition of Grape and show the accounting entry which is required to amend the financial director’s error;(ii) why equity accounting was the appropriate treatment for Strawberry in the consolidated financial statements up to the date of its disposal showing the carrying amount of the investment in Strawberry just prior to disposal;(iii) how the gain or loss on disposal of Strawberry should have been recorded in the consolidated financial statements and how the investment in Strawberry should be accounted for after the part disposal.Note: Any workings can either be shown in the main body of the explanatory note or in an appendix to the explanatory note.锛堝垎鏁帮細16锛?/p>__________________________________________________________________________________________ 姝ｇ‘绛旀锛?Explanatory note to: Directors of BananaSubject: Consolidation of Grape and Strawberry(i) Goodwill should be calculated by comparing the fair value of the consideration with the fair value of the identifiable net assets at acquisition. The shares have been correctly valued using the market price of Banana at acquisition. Contingent consideration should be included at its fair value which should be assessed taking into account the probability of the targets being achieved as well as being discounted to present value. It would appear reasonable to measure the consideration at a value of $4 million ($16 million x 25%). A corresponding liability should be included within the consolidated financial statements with subsequent remeasurement. This would be adjusted prospectively to profit or loss rather than adjusting the consideration and goodwill.The finance director has erroneously measured non-controlling interest using theproportional method rather than at fair value. Although either method is permitted on an acquisition by acquisition basis, the accounting policy of the Banana group is to measure non-controlling interest at fair value. The fair value of the non-controlling interest at acquisition is (20% x $20 million x $4·25) = $17 million.Net assets at acquisition were incorrectly included at their carrying amount of $70 million. This should be adjusted to fair value of $75 million with a corresponding $5 million increase to land in the consolidated statement of financial position. Goodwill should have been calculated as follows:The correcting entry required to the consolidated financial statements is:Dr Goodwill $2 millionDr Land $5 millionCr Non-controlling interest $3 millionCr Liabilities $4 million (ii) If an entity holds 20% or more of the voting power of the investee, it is presumed that the entity has significant influence unless it can be clearly demonstrated that this is not the case. The existence of significant influence by an entity is usually evidenced by representation on the board of directors or participation in key policy making processes. Banana has 40% of the equity of Strawberry and can appoint one director to the board. It would appear that Banana has significant influence but not control. Strawberry should be classified as an associate and be equity accounted for within the consolidated financial statements.The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor’s share of the investee’s net assets. The investor’s profit or loss includes its share of the investee’s profit or loss and the investor’s other comprehensive income includes its share of the investee’s other comprehensive income. At 1 October 20X7, Strawberry should havebeen included in the consolidated financial statements at a value of $20·4 million ($18 million + 40% x $50 million – $44 million).(iii) On disposal of 75% of the shares, Banana no longer exercises significant influence over Strawberry and a profit on disposal of $3·1 million should have been calculated.Banana is incorrect to have recorded a loss in reserves of $14 million and this should be reversed. Instead, a gain of $3·1 million should have been included within the consolidated statement of profit or loss. The investment is initially restated to fair v alue of $4·5 million. Banana does not intend to sell their remaining interest and providing that they make an irrecoverable election, they can treat the remaining interest at fair value through other comprehensive income. The investment will be restated to $4 million at the reporting date with a corresponding loss of $0·5 million reported in other comprehensive income.)瑙ｆ瀽锛?/div>(2).Discuss whether the directors are correct to treat Melon as a financial assetacquisition and whether the International Acc ounting Standards Board’s proposed amendments to the definition of a business would revise your conclusions.锛堝垎鏁帮細7锛?/p>__________________________________________________________________________________________ 姝ｇ‘绛旀锛?Melon should only be treated as an asset acquisition where the acquisition fails the definition of a business combination. In accordance with IFRS® 3 Business Combinations, an entity should determine whether a transaction is a business combination by applying the definition of a business in IFRS 3. A business is an integrated set of activities and assets which are capable of being conducted and managed for the purpose of providing a return in the form of dividends, lower costs or other economic benefits directly to investors or other owners, members or participants. A business will typically have inputs and processes applied to the ability to create outputs. Outputs are the result of inputs and processes and are usually present within a business but are not a necessary requirement for a set of integrated activities and assets to be defined as a business at acquisition.It is clear that Melon has both inputs and processes. The licence is an input as it is an economic resource within the control of Melon which is capable of providing outputs once one or more processes are applied to it. Additionally, the seller does not have to be operating the activities as a business for the acquisition to be classified as a business. It is not relevant therefore that Melon does not have staff and outsources its activities. The definition of a business requires just that the activities could have been operated as a business. Processes are in place through the research activities, integration with the management company and supervisory and administrative functions performed. The research activities are still at an early stage, so no output is yet obtainable but, as identified, this is not a necessary prerequisite for the acquisition to be treated as a business. It can be concluded that Melon is a business and it is incorrect to treat Melon as an asset acquisition.The International Accounting Standards Board has sought to give greater clarity to the definition of a business since the definition has proven difficult to apply in practice. Consequently, an exposure draft has been issued so that no business acquisition occurs where substantially all of the fair value of the gross assets acquired is concentrated in a singleasset or group of similar assets. This is sometimes referred to as a screening test. Thefair value of the gross assets acquired includes the fair value of any acquired input, contract, process, workforce and any other intangible asset which is not identifiable. In the case of Banana, they are not intending to use the services of the management company and are not looking to take on any of the employees. It is unclear therefore as to the extent of ‘know how’ from research activities which would be obtainable. Research activities appear to be at a very early stage and, whilst in substance are very different in nature to the licence itself and would be treated as separate assets, are likely to be of relatively low value. It is perfectly plausible that substantially all of the fair value is concentrated in the licence itself and the acquisition would not be treated as a business combination. Should it be determined that the research activities obtainable are of sufficient value so that not all the fair value is concentrated in a single asset, the acquisition would be treated as a business combination since the activities and processes are substantive.)瑙ｆ瀽锛?/div>(3).Discuss how the derecognition requirements of IFRS 9 Financial Instruments should be applied to the sale of the bond including calculations to show the impact on the consolidated financial statements for the year ended 30 June 20X7.锛堝垎鏁帮細7锛?/p>__________________________________________________________________________________________ 姝ｇ‘绛旀锛?IFRS 9 Financial Instruments requires that a financial asset only qualifies for derecognition once the entity has transferred the contractual rights to receive the cash flows from the asset or where the entity has retained the contractual rights but has an unavoidable obligation to pass on the cash flows to a third party. The substance of the disposal of the bonds needs to be assessed by a consideration of the risks and rewards of ownership.Banana has not transferred the contractual rights to receive the cash flows from the bonds. The third party is obliged to return the coupon interest to Banana and to pay additional amounts should the fair values of the bonds increase. Consequently, Banana still has the rights associated with the interest and will also benefit from any appreciation in the value of the bonds. Banana still retains the risks of ownership as it has to compensate the third party should the fair value of the bonds depreciate in value.It would be expected that, if the sale were a genuine transfer of risks and rewards of ownership, then the sales price would be approximate to the fair value of the bonds. It would only be in unusual circumstances such as a forced sale of Banana’s assets arising from severe financial difficulties that this would not be the case. The sales price of $8 million is well below the current fair value of the bonds of $10·5 million. Additionally, Banana is likely to exercise their option to repurchase the bonds.It can be concluded that no transfer of rights has taken place and therefore the asset should not be derecognised. To measure the asset at amortised cost, the entity must have a business model where they intend to collect the contractual cash flows over the life of the asset. Banana maintains these rights and therefore the sale does not contradict their business model. The bonds should continue to be measured at amortised cost in the consolidated financial statements of Banana. The value of the bonds at 30 June 20X6 would have been $10·2 million ($10 million + 7% x $10 million – 5% x $10 million). Amortisedcost prohibits a restatement to fair value. The value of the bonds at 30 June 20X7 should be $10·414 million ($10·2 million + 7% x $10·2 million – 5% x $10 million). The proceeds of $8 million should be treated as a financial liability and would also be measured at amortised cost. An interest charge of $0·8 million wo uld accrue between 1 July 20X6 and 1 July 20X8, being the difference between the sale and repurchase price of the bonds.)瑙ｆ瀽锛?/div>BackgroundFarham manufactures white goods such as washing machines, tumble dryers and dishwashers. The industry is highly competitive with a large number of products on the market. Brand loyalty is consequently an important feature in the industry. Farham operates a profit related bonus scheme for its managers based upon the consolidated financial statements but recent results have been poor and bonus targets have rarely been achieved. As a consequence, the company is looking to restructure and sell its 80% owned subsidiary Newall which has been making substantial losses. The current year end is 30 June 20X8.Factory subsidenceFarham has a production facility which started to show signs of subsidence since January20X8. It is probable that Farham will have to undertake a major repair sometime during 20X9 to correct the problem. Farham does have an insurance policy but it is unlikely to cover subsidence. The chief operating officer (COO) refuses to disclose the issue at 30 June 20X8 since no repair costs have yet been undertaken although she is aware that this is contrary to international accounting standards. The COO does not think that the subsidence is an indicator of impairment. She argues that no provision for the repair to the factory should be made because there is no legal or constructive obligation to repair the factory.Farham has a revaluation policy for property, plant and equipment and there is a balance on the revaluation surplus of $10 million in the financial statements for the year ended 30 June 20X8. None of this balance relates to the production facility but the COO is of the opinion that this surplus can be used for any future loss arising from the subsidence of the production facility. (5 marks)Sale of NewallAt 30 June 20X8 Farham had a plan to sell its 80% subsidiary Newall. This plan has been approved by the board and reported in the media. It is expected that Oldcastle, an entity which currently owns the other 20% of Newall, will acquire the 80% equity interest. The sale is expected to be complete by December 20X8. Newall is expected to have substantial trading losses in the period up to the sale. The accountant of Farham wishes to show Newall as held for sale in the consolidated financial statements and to create a restructuring provision to include the expected costs of disposal and future trading losses. The COO does not wish Newall to be disclosed as held for sale nor to provide for the expected losses. The COO is concerned as to how this may affect the sales price and would almost certainly mean bonus targets would not be met. The COO has argued that they have a duty to secure a high sales price to maximise the return for shareholders of Farham. She has also implied that theaccountant may lose his job if he were to put such a provision in the financial statements. The expected costs from the sale are as follows:Future tradinglosses $30 millionVarious legal costs of sale $2 millionRedundancy costs for Newall employees $5 millionImpairment losses on owned assets $8 millionIncluded within the future trading losses is an early payment penalty of $6 million for a leased asset which is deemed surplus to requirements.(6 marks)Required:锛堝垎鏁帮細20锛?/p>(1).Discuss the accounting treatment which Farham should adopt to address each of the issues above for the consolidated financial statements.Note: The mark allocation is shown against each of the two issues above.锛堝垎鏁帮細11锛?/p>__________________________________________________________________________________________ 姝ｇ‘绛旀锛?Factory subsidenceThe subsidence is an indication of impairment in relation to the production facility. Consideration would be required to choose a suitable cash generating unit as presumably the factory would not independently generate cash flows for Farham as a standalone asset. The facility is likely to consist of both the factory and various items of plant and machinery and so it would not be possible to independently measure the cash flows from each of the assets. The recoverable amount of the unit would need to be assessed as the higher of fair value less costs to sell and value in use. Reference to IFRS 13 Fair Value Measurement would be required in estimating the fair value of the facility. For example, by considering whether similar facilities have been on the market or recently sold. Value in use would be calculated by estimating the present value of the cash flows generated from the production facility discounted at a suitable rate of interest to reflect the risks to the business. Where the carrying amount exceeds the recoverable amount, an impairment has occurred. Any impairment loss is allocated to reduce the carrying amount of the assets of the unit. This will be expensed in profit or loss and cannot be netted off the revaluation surplus as the surplus does not specifically relate to the facility impaired. No provision for the repair to the factory should be made because there is no legal or constructive obligation to repair the factory.Sale of NewallThe disposal of Newall appears to meet the held for sale criteria. Management has shown commitment to the sale by approving the plan and reporting it to the media. A probable acquirer has been found in Oldcastle, the sale is highly probable and expected to becompleted six months after the year end, well within the 12-month criteria. Newall would be treated as a disposal group since a single equity transaction is the most likely form of disposal. Should Newall be deemed to be a separate major component of business or geographical area of the group, the losses of the group should be presented separately as a discontinued operation within the consolidated financial statements of Farham.Assets held for sale are valued at the lower of carrying amount and fair value less costs to sell. The carrying amount consists of the net assets and goodwill relating to Newall less the non-controlling interest’s share. Assets within the disposal group which are not within the scope of IFRS 5 Assets Held for Sale and Discontinued Operations are adjusted for in accordance with the relevant standard first. This includes leased assets and it is highly likely that the leased asset deemed surplus to requirements should be written off with a corresponding expense to profit or loss. Any further impairment loss recognised to reduce Newall to fair value less costs to sell would be allocated first to goodwill and then on a pro rata basis across the other non-current assets of the group.The chief operating officer is wrong to exclude any form of restructuring provision from the consolidated financial statements. The disposal has been communicated to the media and a constructive obligation exists. However, only directly attributable costs of the restructuring should be included and not ongoing costs of the business. Future operating losses should be excluded as no obligating event has arisen and no provision is required for the impairments of the owned assets as they would have been accounted for on remeasurementto fair value less costs to sell. The legal fees and redundancy costs should be provided for. The early payment fee should also be provided for despite being a future operating loss. This is because the contract is onerous and the losses are consequently unavoidable. A provision is required for $13 million ($2 million + $5 million + $6 million). The $6 million will be offset against the corresponding lease liability with only a net figure being recorded in profit or loss.)瑙ｆ瀽锛?/div>(2).Discuss the ethical issues arising from the scenario, including any actions which Farham and the accountant should undertake.Professional marks will be awarded in question 2 for the quality of the discussion.锛堝垎鏁帮細9锛?/p>__________________________________________________________________________________________ 姝ｇ‘绛旀锛?EthicsAccountants have a duty to ensure that the financial statements are fair, transparent and comply with accounting standards. The accountant appears to have made a couple of mistakes which would be unexpected from a professionally qualified accountant. In particular, the accountant appears unaware of which costs should be included within a restructuring provision and has failed to recognise that there is no obligating event in relation tofuture operating losses. Accountants must carry out their work with due care and attention for the financial statements to have credibility. They must therefore ensure that their knowledge is kept up to date and that they do carry out their work in accordance with the relevant ethical and professional standards. Failure to do so would be a breach ofprofessional competence. The accountant must make sure that they address this issue through, for example, attending regular training and professional development courses.There are a number of instances which suggest that the chief operating officer is happy to manipulate the financial statements for their own benefit. She is not willing to account for an impairment loss for the subsidence despite knowing that this is contrary to International Accounting Standards. She is also unwilling to reduce the profits of the group by properly applying the assets held for sale criteria in relation to Newall nor to create a restructuring provision. All of the adjustments required to ensure the financial statements comply with International Accounting Standards will reduce profitability. It is true that the directors do have a responsibility to run the group on behalf of their shareholders and to try to maximise their return. This must not be to the detriment, though, of producing financial statements which are objective and faithfully represent the performance of the group. It is likely that the chief operating officer is motivated by bonus targets and is therefore unfairly trying to misrepresent the results of the group. The chief operating officer must make sure that she is not unduly influenced by this self-interest threat.The chief operating officer is also acting unethically by threatening to dismiss the accountant should they try to correct the financial statements. It is not clear whether the chief operating officer is a qualified accountant but the ethical principles should extend to all employees and not just qualified accountants. Threatening and intimidating behaviour is unacceptable and against all ethical principles. The accountant faces an ethical dilemma. They have a duty to produce financial statements which are objective and fair but to do so could mean that they lose their job. The accountant should approach the chief operating officer and remind them of the basic ethical principles and try to persuade them of the need to put the adjustments through the consolidated accounts so that they are fair and objective. Should the chief operating officer remain unmoved, the accountant may wish to contact the ACCA ethical helpline and take legal advice before undertaking any further action.)瑙ｆ瀽锛?/div>浜屻€丼ection B (鎬婚鏁帮細2锛屽垎鏁帮細50.00)1.(a) Skizer is a pharmaceutical company which develops new products with other pharmaceutical companies that have the appropriate production facilities.Stakes in development projectsWhen Skizer acquires a stake in a development project, it makes an initial payment to the other pharmaceutical company. It then makes a series of further stage payments until the product development is complete and it has been approved by the authorities. In thefinancial statements for the year ended 31 August 20X7, Skizer has treated the different stakes in the development projects as separate intangible assets because of the anticipated future economic benefits related to Skizer’s ownership of the product rights. However, in the year to 31 August 20X8, the directors of Skizer decided that all such intangible assets were to be expensed as research and development costs as they were unsure as to whether the payments should have been initially recognised as intangible assets. This write off was to be treated as a change in an accounting estimate.Sale of development project。
ACCA P4考官文章
ACCA P4考官文章本文由高顿ACCA整理发布，转载请注明出处The aim of this article is to consider both foreign exchange futures and options using real market data. The basics, which have been well examined in the recent past, will be quickly revisited. The article will then consider areas which, in reality, are of significant importance but which, to date, have not been examined to any great extent.FOREIGN EXCHANGE FUTURES – THE BASICSSCENARIOImagine it is 10 July 2014. A UK company has a US$6.65m invoice to pay on 26 August 2014. They are concerned that exchange rate fluctuations could increase the ? cost and, hence, seek to effectively fix the ? cost using exchange traded futures. The current spot rate is $/?1.71110.Research shows that ?/$ futures, where the contract size is denominated in ?, are available on the CME Europe exchange at the following prices:September expiry – 1.71035December expiry – 1.70865The contract size is ?100,000 and the futures are quoted in US$ per ?1.Note:CME Europe is a London based derivatives exchange. It is a wholly owned subsidiary of CME Group, which is one of the world’s leading and most diverse derivatives marketplace, handling (on average) three billion contracts worth about $1 quadrillion annually!SETTING UP THE HEDGE1. Date? – September:The first futures to mature after the expected payment date (transaction date) are chosen. As the expected transaction date is 26 August, the September futures which mature at the end of September will be chosen.2. Buy/Sell? – Sell:As the contract size is denominated in ? and the UK company will be selling ? to buy $ they should sell the futures.3. How many contracts? – 39As the amount to be hedged is in $ it needs to be converted into ? as the contact size is denominated in ?. This conversion will be done using the chosen futures price. Hence, the number of contracts required is: ($6.65m ÷1.71035)/?100,000 ≈ 39.SUMMARYThe company will sell 39 September futures at $/?1.71035.Outcome on 26 August:On 26 August the following was true:Spot rate – $/? 1.65770September futures price – $/?1.65750Actual cost:$6.65m/1.65770 = ?4,011,582Gain/loss on futures:As the exchange rate has moved adversely for the UK company a gain should be expected on the futures hedge.$/?Sell – on 10 July1.71035Buy back – on 26 August(1.65750)Gain0.05285This gain is in terms of $ per ? hedged. Hence, the total gain is:0.05285 x 39 contracts x ?100,000 = $206,115Alternatively, the contract specification for the futures states that the tick size is 0.00001$ and that the tick value is $1. Hence, the total gain could be calculated in the following way:0.05285/0.00001 = 5,285 ticks5,285 ticks x $1 x 39 contracts = $206,115This gain is converted at the spot rate to give a ? gain of:$206,115/1.65770 = ?124,338Total cost:?4,011,582 – ?124,338 = ?3,887,244This total cost is the actual cost less the gain on the futures. It is close to the receipt of ?3,886,389 that the company was originally expecting given the spot rate on 10 July when the hedge was set up. ($6.65m/1.71110). This shows how the hedge has protected the company against an adverse exchange rate move.SUMMARYAll of the above is essential basic knowledge. As the exam is set at a particular point in time you are unlikely to be given the futures price and spot rate on the future transaction date. Hence, an effective rate would need to be calculated using basis. Alternatively, the future spot rate can be assumed to equal the forward rate and then an estimate of the futures price on the transaction date can be calculated using basis. The calculations can then be completed as above.The ability to do this would have earned four marks in the June 2014 Paper P4 exam. Equally, another one or two marks could have been earned for reasonable advice such as the fact that a futures hedge effectively fixes the amount to be paid and that margins will be payable during the lifetime of the hedge. It is some of these areas that we will now explore further.FOREIGN EXCHANGE FUTURES – OTHER ISSUESINITIAL MARGINWhen a futures hedge is set up the market is concerned that the party opening a position by buying or selling futures will not be able to cover any losses that may arise. Hence, the market demands that a deposit is placed into a margin account with the broker being used – this deposit is called the ‘initial margin’.These funds still belong to the party setting up the hedge but are controlled by the broker and can be used if a loss arises. Indeed, the party setting up the hedge will earn interest on the amount held in their account with their broker. The broker in turn keeps a margin account with the exchange so that the exchange is holding sufficient deposits for all the positions held by brok ers’ clients.In the scenario above the CME contract specification for the ?/$ futures states that an initial margin of $1,375 per contract is required.Hence, when setting up the hedge on 10 July the company would have to pay an initial margin of $1,375 x 39 contracts = $53,625 into their margin account. At the current spot rate the ? cost of this would be $53,625/1.71110 = ?31,339.MARKING TO MARKETIn the scenario given above, the gain was worked out in total on the transaction date. In reality, the gain or loss is calculated on a daily basis and credited or debited to the margin account as appropriate. This process is called ‘marking to market’.Hence, having set up the hedge on 10 July a gain or loss will be calculated based on the futures settlement price of $/?1.70925 on 11 July. This can be calculated in the same way as the total gain was calculated:$/?Sell – on 10 July1.71035Settlement price – 11 July(1.70925)Gain 0.00110Gain in ticks – 0.00110/0.00001 = 110Total gain – 110 ticks x $1 x 39 contracts = $4,290This gain would be credited to the margin account taking the balance on this account to $53,625 + $4,290 = $57,915.At the end of the next trading day (Monday 14 July), a similar calculation would be performed:$/?Settlement price – 11 July1.70925Settlement price – 14July(1.70805)Gain0.00120Gain in ticks – 0.00120/0.00001 = 120Total gain – 120 ticks x $1 x 39 contracts = $4,680.This gain would also be credited to the margin account taking the balance on this account to $57,915 + $4,680 = $62,595.Similarly, at the end of the next trading day (15 July), the calculation would be performed again:$/?Settlement price – 14 July1.70805Settlement price – 15July(1.71350)Loss0.00545Loss in ticks – 0.00545/0.00001 = 545Total loss – 545 ticks x $1 x 39 contracts = $21,255.This loss would be debited to the margin account, reducing the balance on this account to $62,595 – $21,255 = $41,340.This process would continue at the end of each trading day until the company chose to close out their position by buying back 39 September futures.MAINTENANCE MARGIN, VARIATION MARGIN AND MARGIN CALLSHaving set up the hedge and paid the initial margin into their margin account with their broker, the company may be required to pay in extra amounts to maintain a suitably large deposit to protect the market from losses the company may incur. The balance on the margin account must not fall below what is called the ‘maintenance margin’. In our scenario, the CME co ntract specification for the ?/$ futures states that a maintenance margin of $1,250 per contract is required. Given that the company is using 39 contracts, this means that the balance on the margin account must not fall below 39 x $1,250 = $48,750.As you can see, this does not present a problem on 11 July or 14 July as gains have been made and the balance on the margin account has risen. However, on 15 July a significant loss is made and the balance on the margin account has been reduced to $41,340, which is below the required minimum level of $48,750.Hence, the company must pay an extra $7,410 ($48,750 – $41,340) into their margin account in order to maintain the hedge. This would have to be paid for at the spot rate prevailing at the time of payment unless the company has sufficient $ available to fund it. When these extra funds are demanded it is called a ‘margin call’. The necessary payment is called a ‘variation margin’.If the company fails to make this payment, then the company no longer has sufficient deposit to maintain the hedge and action will be taken to start closing down the hedge. In this scenario, if the company failed to pay the variation margin the balance on the margin account would remain at $41,340, and given the maintenance margin of $1,250 this is only sufficient to support a hedge of $41,340/$1,250 ≈ 33 contracts. As 39 futures contracts were initially sold, six contracts would be automatically bought back so that the markets exposure to the losses the company could make is reduced to just 33 contracts. Equally, the company will now only have a hedge based on 33 contracts and, given the underlying transaction’s need for 39 contracts, will now be underhedged.Conversely, a company can draw funds from their margin account so long as the balance on the account remains at, or above, the maintenance margin level, which, in this case, is the $48,750 calculated.FOREIGN EXCHANGE OPTIONS – THE BASICSSCENARIOImagine that today is the 30 July 2014. A UK company has a €4.4m rece ipt expected on 26 August 2014. The current spot rate is ?/€0.7915. They are concerned that adverse exchange rate fluctuations could reduce the ? receipt but are keen to benefit if favourable exchange rate fluctuations were toincrease the ? receipt. Hence, they have decided to use €/? exchange traded options to hedge their position.Research shows that €/? options are available on the CME Europe exchange.The contract size is €125,000 and the futures are quoted in ? per €1. The options are American options and, hence, can be exercised at any time up to their maturity date.SETTING UP THE HEDGE1. Date? – September:The available options mature at the end of March, June, September and December. The choice is made in the same way as relevant futures contracts are chosen.2. Calls/Puts? – Puts:As the contract size is denominated in € and the UK company will be selling € to buy ?, they should take the options to sell € for ? – put options.3. Which exercise price? –€/? 0.79250An extr act from the available exercise prices showed the following:Exercise price?/€1 Put premiums?/€10.790000.004650.792500.00585As the company is selling €, it wants the maximum net ? receipt for each € sold. The maximum net receipt is the exercise price minus the premium cost.This is calculated below:Exercise price?/€1 Put premiums?/€1Net receipt?/€10.790000.004650.7900 – 0.00465 = 0.785350.792500.005850.79250 – 0.00585 = 0.78665Hence, the company will choose the 0.79250 exercise price as it gives the maximum net receipt. Alternatively, the outcome for all available exercise prices could be calculated.In the exam, either both rates could be fully evaluated to show which is the better outcome for the organisation or one exercise price could be evaluated, but with a justification for choosing that exercise price over the other.4. How many? – 35This is calculated in a similar way to the calculation of the number of futures. Hence, the number of options required is:€4.4m/€0.125m ≈ 35SUM MARYThe company will buy 35 September put options with an exercise price of 0.79250 ?/Premium to pay –?/€0.00585 x 35 contracts x €125,000 = ?25,594Outcome on 26 August:On 26 August the following was true:Spot rate –?/€ 0.79650As there has been a favourable exchange rate move, the option will be allowed to lapse, the funds will be converted at the spot rate and the company will benefit from the favourable exchange rate move.Hence, €4.4m x 0.79650 = ?3,504,600 will be received. The net recei pt after deducting the premium paid of ?25,594 will be ?3,479,006.Note:Strictly a finance charge should be added to the premium cost as it is paid when the hedge is set up. However, the amount is rarely significant and, hence, it will be ignored in this article.If we assume an adverse exchange rate move had occurred and the spot rate had moved to ?/€ 0.78000, then the options could be exercised and the receipt arising would have been:Receipt€4,400,000Exercise option:Pay – 35 x 125,000(€4,375,000)Receive –4.375m x 0.79250?3,467,188Underhedged amount€25,000Buy ? at spot (?/€ 0.78)(€25,000)?19,5000?3,486,688Deduct premium cost(?25,594)Net receipt – see Note 1?3,461,094Notes:1. This net receipt is effectively the minimum receipt as if the spot rate on 26 August is anything less than the exercise price of ?/€ 0.79250, the options can be exercised and approximately ?3,461,094 will be received. Small changes to this net receipt may occur as the €25,000 underhedged will be converted at t he spot rate prevailing on the 26 August transaction date. Alternatively, the underhedged amount could be hedged on the forward market. This has not been considered here as the underhedged amount is relatively small.2. For simplicity it has been assumed that the options have been exercised. However, as the transaction date is prior to the maturity date of the options the company would in reality sell the options back to the market and thereby benefit from both the intrinsic and time value of the option. By exercising they only benefit from the intrinsic value. Hence, the fact that American options can be exercised at any time up to their maturity date gives them no real benefit over European options, which can only be exercised on the maturity date, so long as the options are tradable in active markets. The exception perhaps is traded equity options where exercising prior to maturity may give the rights to upcoming dividends.SUMMARYMuch of the above is also essential basic knowledge. As the exam is set at a particular point in time, you are unlikely to be given the spot rate on the transaction date. However, the future spot rate can be assumed to equal the forward rate which is likely to be given in the exam. The ability to do this would have earned six marks in the June 2014 Paper P4 exam. Equally, another one or two marks could have been earned for reasonable advice.FOREIGN EXCHANGE OPTIONS – OTHER TERMINOLOGYThis article will now focus on other terminology associated with foreign exchange options and options and risk management generally. All too often students neglect these as they focus their efforts on learning the basic computations required. However, knowledge of them would help students understand the computations better and is essential knowledge if entering into a discussion regarding options.LONG AND SHORT POSITIONSA ‘long position’ is one held if you believe the value of the underlying asset will rise. For instance, if you own shares in a company you have a long position as you presumably believe the shares will rise in value in the future. You are said to be long in that company.A ‘short position’ is one held if you believe the value of the underlying asset will fall. For instance, if you buy options to sell a company’s share s, you have a short position as you would gain if the value of the shares fell. You are said to be short in that company.UNDERLYING POSITIONIn our example above where a UK company was expecting a receipt in €, the company will gain if the € gains in v alue –hence the company is long in €. Equally the company would gain if the ? falls in value – hence, the company is short in ?. This is their ‘underlying position’.To create an effective hedge, the company must create the opposite position. This has been achieved as, within the hedge, put options were purchased. Each of these options gives the company the right to sell €125,000 at the exercise price and buying these options means that the company will gain if the € falls in value. Hence, they are short in €.Therefore, the position taken in the hedge is opposite to the underlying position and, in this way, the risk associated with the underlying position is largely eliminated. However, the premium payable can make this strategy expensive.It is easy to become confused with option terminology. For instance, you may have learnt that the buyer of an option is in a long position and the seller of an option is in a short position. This seems at variance with what has been stated above, where buying the put options makes the company short in €. However, an option buyer is said to be long because they believe that the value of the option itself will rise. The value of put options for € will rise if the € falls in value. Hence, by buying the €/? put opt ions the company is taking a short position in €, but is long the option.HEDGE RATIOThe hedge ratio is the ratio between the change in an option’s theoretical value and the change in the price of the underlying asset. The hedge ratio equals N(d1), which is known as delta. Students should be familiar with N(d1) from their studies of the Black-Scholes option pricing model. What students may not be aware of is that a variant of the Black-Scholes model (the Grabbe variant – which is no longer examinable) can be used to value currency options and, hence, N(d1) or the hedge ratio can also be calculated for currency options.Hence, if we were to assume that the hedge ratio or N(d1) for the €/? exchange traded options used in the example was 0.95 this would mean that any change in the relative values of the underlying currencies would only cause a change in the option value equivalent to 95% of the change in the value of the underlying currencies. Hence, a 0.01€ per ? change in the spot market would only cau se a 0.0095 € per ? change in the option value.This information can be used to provide a better estimate of the number of options the company should use to hedge their position, such that any loss in the spot market is more exactly matched by the gain on the options:Number of options required = amount to hedge/(contract size x hedge ratio)In our example above, the result would be:€4.4m/(€0.125m x 0.95) ≈ 37 optionsCONCLUSIONThis article has revisited some of the basic calculations required for foreign exchange futures and options questions using real market data, and has additionally considered some other key issues and terminology in order to further build knowledge and confidence in this area.William Parrott, freelance tutor and senior FM tutor, MAT Uganda更多ACCA资讯请关注高顿ACCA官网：。
ACCA考试《F8审计与认证业务》冲刺试题
ACCA考试《F8审计与认证业务》冲刺试题2016年ACCA考试《F8审计与认证业务》冲刺试题ACCA在国内称为"国际注册会计师"，实际上是特许公认会计师公会(The Association Of Chartered Certified Accountants)的缩写，它是英国具有特许头衔的'4家注册会计师协会之一，也是当今最知名的国际性会计师组织之一。
下面是店铺带来的一些试题，希望对你有所帮助!一.应收帐款及应付帐款在全年均维持在一个稳定的水平。
Fundamentals Level – Skills Module, Paper F81 (a) Audit strategy documentSection of document Purpose Example from B-StarUnderstanding the entity’s environment Provides detai ls of the industry area that Size of the theme park sector and the company is in along with specific expected growth over the next few years.information about the activities andstrategies of the individual client.Understand the accounting and internal Details of accounting policies of the Accounting policy for sales – sales are control systems client and previous assessments of stated net of sales taxes.internal control systems indicating theReliance on control systems in B-Starexpected extent of reliance on thosemay be limited due to lack ofsystems.documentation of controls.Risk and materiality The assessment of risk for the client and Materiality for sales to be 5% of turnover.the risk of fraud and error and theB-Star receives cash sales – audit workidentification of significant audit areas.required to determine the completenessThe materiality level for audit planning of sales.purposes.Timing and extent of audit procedures Details of the focus on audit work on Audit software could be used to provide specific areas. Detail on the extent of use analytical procedures on the sales ofof audit software and possible reliance B-Staron internal audit.Co-ordination, supervision and review of Details the extent of involvement of B-Star has only one location – audit staff audit work experts, client locations and staffing will be required to work there for Xrequirements for the audit. weeks.(b) (i) Risk affecting completeness–The computer system does not record sales accurately and/or information is lost or transferred incorrectly from the ticket office computer to the accounts department computer.– Cash sales are not recorded in the cash book; cash is stolen by the accounts clerks.– Tickets are issued but no payment is received – that is the sale is not recorded.–Cash is removed by the ticket office personnel, by the security guards or by the account clerks.– The account clerks miscount the amount of cash received from a ticket office.(ii) Use of tests of controls and substantive proceduresTests of controlsTests of control are designed to ensure that documented controls are operating effectively. If controls over the completeness of income were expected to operate correctly, then the auditor would test those controls.In B-Star, while controls could be in operation, e.g. the account clerks agreeing physical cash to computer summaries, there is no indication that the control is documented; that is the computer summary is not signed to show thecomparison has taken place. The auditor could use the test of inquiry – asking the clerks whether the control has been used, and observation –actually watching the clerks carry out the controls. As noted above though, lack ofdocumentation of the control does mean relying on tests of control for the assertion completeness of income has limited value.Substantive proceduresSubstantive procedures include analytical procedures and other procedures.Analytical procedures include the analysis of significant ratios and trends and subsequent investigation of any trends or relationships that appear to be abnormal. These procedures can be used effectively in B-Star as an approximation of income that can be obtained from sources other than the cash receipt records.Other procedures, or tests of detail, are normally used to verify statement of financial position assertions and include obtaining audit evidence relevant to specific assertions. However, they could be used in B-Star to trace individual transactions through the sales/cash systems to ensure allticket sales have been recorded (completeness assertion). The use of other procedures will be time consuming.下载全文。
马尔科夫链(与数列结合的概率递推问题)(解析版)
马尔科夫链（与数列结合的概率递推问题）如果要评选出 2023 年各地模拟题中最“成功”的题目，我想非“马尔科夫链”莫属了，尽管2023 年新高考I 卷出乎了很多“命题专家”的意料，但第 21 题考察了马尔科夫链，可谓为广大“专家”“名卷”“押题卷”挽回了一些颜面。
2023年新高考I 卷第21题的投篮问题是马尔可夫链；再往前的热点模考卷中，2023年杭州二模第21题的赌徒输光问题是马尔可夫链，2023年茂名二模的摸球问题是马尔可夫链；再往更前的2019年全国I 卷药物试验也是马尔可夫链，在新人教A 版选择性必修三 P91 页 拓展探索中的第10题是传球问题，是马尔科夫链的典型模型，可以看出自从新教材引入全概率公式（新人教A 版选择性必修三 P49 页），可想而知，未来会有越来越多的递推型概率难题出现模考试题中！因此，在复习备考中全概率等系列内容需要格外关注马尔科夫链作为一种命题模型出现了，马尔科夫链在题中的体现可以简单的概括为全概率公式+数列递推，对于高中生而言，马尔科夫链其实也不难理解。
本文主要介绍了马尔科夫链和一维随机游走模型在高考中的几种具体的应用情形，希望对各位接下来的复习和备考有一些帮助。
基本原理虽然贝叶斯公式不做要求，但是全概率公式已经是新高考考查内容了，利用全概率公式，我们既可以构造某些递推关系求解概率，还可以推导经典的一维随机游走模型，即：设数轴上一个点，它的位置只能位于整点处，在时刻0=t 时，位于点)(+∈=N i i x ，下一个时刻，它将以概率α或者β（1),1,0(=+∈βαα）向左或者向右平移一个单位. 若记状态i t X =表示：在时刻t 该点位于位置)(+∈=N i i x ，那么由全概率公式可得：)|()()|()()(1111111+==++=−==+−==+⋅+⋅=i t i t i t i t i t i t i t X X P X P X X P X P X P另一方面，由于αβ==+==+−==+)|(,)|(1111i t i t i t i t X X P X X P ，代入上式可得：11−+⋅+⋅=i i i P P P βα.进一步，我们假设在0=x 与),0(+∈>=N m m m x 处各有一个吸收壁，当点到达吸收壁时被吸收，不再游走.于是，1,00==m P P .随机游走模型是一个典型的马尔科夫过程.进一步，若点在某个位置后有三种情况：向左平移一个单位，其概率为a ，原地不动，其概率为b ，向右平移一个单位，其概率为c ，那么根据全概率公式可得：11+−++=i i i i cP bP aP P2023·新高考Ⅰ卷T211．乙两人投篮，每次由其中一人投篮，规则如下：若命中则此人继续投籃，若末命中则换为对方投篮．无论之前投篮情况如何，甲每次投篮的命中率均为0.6，乙每次投篮的命中率均为0.8．由抽签确定第1次投篮的人选，第1次投篮的人是甲、乙的概率各为0.5． （1）求第2次投篮的人是乙的概率； （2）求第i 次投篮的人是甲的概率； （3）已知：若随机变量i X 服从两点分布，且()()110,1,2,,i i i P X P X q i n ==−===⋅⋅⋅，则11n ni i i i E X q == = ∑∑．记前n 次（即从第1次到第n 次投篮）中甲投篮的次数为Y ，求()E Y ． 【解析】（1）记“第i 次投篮的人是甲”为事件i A ，“第i 次投篮的人是乙”为事件i B ，所以，()()()()()()()21212121121||P B P A B P B B P A P B A P B P B B =+=+()0.510.60.50.80.6×−+×.（2）设()i i P A p =，依题可知，()1i i P B p =−，则()()()()()()()11111||i i i i i i i i i i i P A P A A P B A P A P A A P B P A B +++++=+=+，即()()10.610.810.40.2i i i i p p p p +=+−×−=+， 构造等比数列{}i p λ+，设()125i i p p λλ++=+，解得13λ=−，则1121353i i p p + −=−，又11111,236p p =−=，所以13i p−是首项为16，公比为25的等比数列，即11112121,365653i i i i p p −−−=×=×+． （3）因为1121653i i p − =×+，1,2,,i n =⋅⋅⋅， 所以当*N n ∈时，()122115251263185315nnn n n E Y p p p − =+++=×+=−+ − ，故52()11853nnE Y=−+．2019·全国Ⅰ卷2．为治疗某种疾病，研制了甲、乙两种新药，希望知道哪种新药更有效，为此进行动物试验.试验方案如下：每一轮选取两只白鼠对药效进行对比试验.对于两只白鼠，随机选一只施以甲药，另一只施以乙药.一轮的治疗结果得出后，再安排下一轮试验.当其中一种药治愈的白鼠比另一种药治愈的白鼠多4只时，就停止试验，并认为治愈只数多的药更有效.为了方便描述问题，约定：对于每轮试验，若施以甲药的白鼠治愈且施以乙药的白鼠未治愈则甲药得1分，乙药得1−分；若施以乙药的白鼠治愈且施以甲药的白鼠未治愈则乙药得1分，甲药得1−分；若都治愈或都未治愈则两种药均得0分.甲、乙两种药的治愈率分别记为α和β，一轮试验中甲药的得分记为X . （1）求X 的分布列.（2）若甲药、乙药在试验开始时都赋予4分，)0,1,2,,8(i p i =⋅⋅⋅表示“甲药的累计得分为i 时，最终认为甲药比乙药更有效”的概率，则00p =，81p =，11()127i i i i p ap bp cp i ==++…－＋，，，，其中)1(a P X ==－，(0)b P X == (1)c PX ==. 假设0.5α=，0.8β=. ①证明：1)0{,1,2,,}7(i i p p i−=⋅⋅⋅＋为等比数列； ②求4p ，并根据4p 的值解释这种试验方案的合理性. 【解析】（1）X 的所有可能取值为－1，0，1.11()()P X αβ=−−=，()()()011P X αβαβ=+−−=，()1(1)P X αβ=−=， 所以X 的分布列为X －11P(1)αβ− )1((1)αβαβ+−− ()1αβ−（2）①证明 由（1）得0.4a =，0.5b =，0.1c =.因此110.40.50.1i i i i p p p p −+=++，故()()110.10.4i i i i p p p p −=−＋－，则()114i i i i p p p p −=−＋－.又因为1010p p p −≠=，所以1)0{,1,2,,}7(i i p p i−=⋅⋅⋅＋为公比为4，首项为1p 的等比数列. ② 由①得()()()88877610087761001413p p p p p p p p p p p p p p p p −=−+−+…+−+=−+−+…+−+=⋅. 由于81p =，故18341p =−， 所以()()()()444332*********3257p p p p p p p p p p p −=−+−+−+−+==. 4p 表示最终认为甲药更有效的概率.由计算结果可以看出，在甲药治愈率为0.5，乙药治愈率为0.8时，认为甲药更有效的概率为410.0039257p =≈，此时得出错误结论的概率非常小，说明这种试验方案合理.课本原题：人教A 版数学《选择性必修三》P913．甲、乙、丙三人相互做传球训练，第１次由甲将球传出，每次传球时，传球者都等可能地将球传给另外两个人中的任何一人．求n 次传球后球在甲手中的概率． 【解析】记第n 次传球后球在甲手中的概率为n P ，则第1n −次传球后球在甲手中的概率为1n P −， 开始时球在甲手中，则01P =．若第n 次传球后球在甲手中，则第1n −次传球后球不在甲手中，即第1n −次传球后球在乙或丙手中， 所以第1n −次传球后球不在甲手中的概率为11n P −−，又乙或丙在第n 次把球传到甲手上的概率为12， 于是有()1112n n P P −−=，即1111323n n P P − −=−− ，1n ≥， 于是数列13n P−是首项为0213P −=，公比为12−得等比数列， 所以121332nn P −=×−，所以()*211323nn P n =×−+∈ N .1．（2024届·武汉高三开学考）有编号为1，2，3，...，18，19，20的20个箱子，第一个箱子有2个黄球1个绿球，其余箱子均为2个黄球2个绿球，现从第一个箱子中取出一个球放入第二个箱子，再从第二个箱子中取出一个球放入第三个箱子，以此类推，最后从第19个箱子取出一个球放入第20个箱子，记i p 为从第i 个箱子中取出黄球的概率. (1)求23,p p ； (2)求20p . 【答案】(1)2815P =，33875P =；(2)201911652P =+⋅【分析】（1）分第一次取出黄球和绿球两种情况，再由互斥事件概率加法公式计算可得答案； （2）由题意可得()132155+=+−i i i P P P ，可得答案. 【详解】（1）从第二个箱子取出黄球的概率223128353515P =⋅+⋅=， 从第三个箱子取出黄球的概率3838238115515575P =⋅+−⋅= ； （2）由题意可知，()1321215555i i i i P P P P +=+−=+， 即1111252i i P P + −=− ，又123P = 1111111111,,,26265652i i i i P P P −− −=∴−=⋅∴=+ ⋅ 201911652P ∴=+⋅.重点题型·归类精讲【答案】(1)1942，1311776n n P −=−−(2)第二次，证明见解析【分析】（1）根据全概率公式即可求解2P ，利用抽奖规则，结合全概率公式即可由等比数列的定义求解， （2）根据1311776n n P −=−−，即可对n 分奇偶性求解.【详解】（1）记该顾客第()*N i i ∈次摸球抽中奖品为事件A ，依题意，127P =， ()()()()()22121121212119||1737242P P A P A P A A P A P A A ==+=×+−×= ． 因为()11|3n n P A A −=，()11|2n n P A A −=，()n n P P A =，所以()()()()()1111||n n n n n n n P A P A P A A P A P A A −−−−=+，所以()111111113262n n n n P P P P −−−=+−=−+， 所以1313767n n P P − −=−−， 又因为127P =，则131077P −=−≠， 所以数列37n P−是首项为17−，公比为16−的等比数列，故1311776n n P −=−−．（2）证明：当n 为奇数时，1131976742n n P −<<⋅，当n 为偶数时，131776n n P −=+⋅，则n P 随着n 的增大而减小， 所以，21942n P P ≤=，综上，该顾客第二次摸球抽中奖品的概率最大.3．从甲､乙､丙等5人中随机地抽取三个人去做传球训练.训练规则是确定一人第一次将球传出，每次传球时，传球者都等可能地将球传给另外两个人中的任何一人，每次必须将球传出. (1)记甲乙丙三人中被抽到的人数为随机变量X ，求X 的分布列；(2)若刚好抽到甲乙丙三个人相互做传球训练，且第1次由甲将球传出，记n 次传球后球在甲手中的概率为,1,2,3,n p n = ，①直接写出123p p p ，，的值；②求1n p +与n p 的关系式*()n N ∈，并求n p *()n N ∈. 【答案】(1)分布列见解析(2)①10p =，212p =，314p =；②111,1,2,322n n p p n +=−+=；11(1)132n n − −+ 【分析】（1）由离散型随机变量的分布列可解；（2）记n A 表示事件“经过n 次传球后，球在甲手中”，由全概率公式可求111,22n n p p +=−+再由数列知识，由递推公式求得通项公式.【详解】（1）X 可能取值为1,2,3，()1232353110C C p X C ===；()213235325C C p X C ===；()3032351310C C p X C === 所以随机变量X 的分布列为（2）若刚好抽到甲乙丙三个人相互做传球训练，且n 次传球后球在甲手中的概率为,1,2,3,n p n = ， 则有10,p =2221,22p ==3321,24p == 记n A 表示事件“经过n 次传球后，球在甲手中”，111n n n n n A A A A A +++=⋅+⋅所以()()()11111n n n n n n n n n p P A A A A P A A P A A +++++=⋅+⋅=⋅+⋅ ()()()()()()111110122n n nn n n n n n P A P A A P A P A A p p p ++=⋅+⋅=−⋅+⋅=−∣∣ 即111,1,2,322n n p p n +=−+=， 所以1111323n n p p + −=−− ，且11133p −=− 所以数列13n p− 表示以13−为首项，12−为公比的等比数列，所以1111332n n p −−=−×−所以1111111132332n n n p −−=−×−+=−−即n 次传球后球在甲手中的概率是11(1)132n n −−+.2023届惠州一模4．为了避免就餐聚集和减少排队时间，某校开学后，食堂从开学第一天起，每餐只推出即点即取的米饭套餐和面食套餐. 已知某同学每天中午会在食堂提供的两种套餐中选择，已知他第一天选择米饭套餐的概率为23，而前一天选择了米饭套餐后一天继续选择米饭套餐的概率为14，前一天选择面食套餐后一天继续选择面食套餐的概率为12，如此往复. （1）求该同学第二天中午选择米饭套餐的概率 （2）记该同学第n 天选择米饭套餐的概率为n P（Ⅰ）证明：25n P −为等比数列；（Ⅱ）证明：当2n ≥时，512n P ≤. 【解析】（1）设1A =“第1天选择米饭套餐”，2A =“第2天选择米饭套餐”，则1A =“第1天不选择米饭套餐”，于是，()123P A =，()113P A =，()2114|P A A =，()2111122|P A A =−=， 由全概率公式()()()()()21211212111134323||P A P A P A A P A P A A =+=×+×=；（2）（Ⅰ）设n A =“第n 天选择米饭套餐”，则()n n P P A =，()1n n P A P =−，()14|1n n P A A +=，()11|1122n n P A A +=−=， ()()()()()()111111111424|2|n n n n n n n n n n n P P A P A P A A P A P A P P P A ++++==+=+−=−+， 所以1212545n n P P + −=−− ，25n P − 是以124515P −=为首项，14−为公比的等比数列。
国开大《商务英语4》自检验测试题7及其规范标准答案
一、选择填空题（每题10分，共5题）题目1不正确获得10.00分中的0.00分标记题目题干—They want to make sure you're paying taxes on the money you make. —________ .选择一项：A. We're paying alrightB. At least, our records for money in are very completeC. That's something you can improve by talking to human resources反馈你的回答不正确解析：本题考核“请求确认”的交际用语。
选项A表达“纳税没问题”，选项B 表达“入账记录很完整”，选项C表达“可与人力资源部门沟通提高”。
根据前句“他们想确认你们对于赚的收入要纳税”，答语应为“确认纳税有无问题”，所以答案是A。
正确答案是：We're paying alright题目2正确获得10.00分中的10.00分标记题目题干—How much of a problem meeting the budget?—_______.选择一项：A. The product should finance itselfB. Well, it seems that we underestimated the costsC. You only need a budget increase for the first order反馈你的回答正确解析：本题考核“表达可能性”的交际用语。
选项A表达“该产品可以自筹资金”，选项B表达“看起来是低估了成本”，选项C表达“只需对首批订单增加预算”。
根据提问“应对预算的问题如何？”，确定答语是查找相关问题，所以答案是B。
正确答案是：Well, it seems that we underestimated the costs题目3不正确获得10.00分中的0.00分标记题目题干There are more and more ______ of software for accounting, this has made the different types of software more accessible in terms of costs and variety.选择一项：A. manufacturersB. manufacturingC. manufactures反馈你的回答不正确译文：有越来越多的会计软件生产商。
ACCA考试F6mock答案
Answer to Section A:1. B2. A￡ 3,000 700 Home to client travel Professional subscription Allowance deductions 3,7003. A(£30,000 – £7,956) x 12% = £2,645 4. A5. A22,000=22,500+3,700-4,2006. BProceeds100,000 (80,000) 20,000Cost of the land (200,000*100,000/ (100,000+150,000)) Chargeable capital gain 7. AB,C,D 所指的期间如果加上”proceeded and followed by the actual occupation period” 才可以确定是 deemed occupation period.8. D这是生前对个人的赠送，属于 PET ，在赠送时不会产生 IHT 。
9. COutput VAT=5,000×(1-3%)×20%+220×20%=1014 10. ACease date 是在2015年4月5日之前，所以可以合并上期利润里一同申报在2014－15 This amount can then be reduced by the unused overlap profit. (£15,000 + £6,000) – £4,000 = £17,00011. AInterest from Individual Savings Accounts within the overall investment limit of £15,000 is an exempt income. 12. D 13. D 14. C 15. DIHT liability = (800,000 – 3,000 – 3,000 – 325,000) x 20% /0.8 = £117,250 付遗产税时要在原来计算的基础上除以 0.8由捐赠者Answer to Section B1. Flick Pick (TX 06/12 Q1)Answer: all figures are in one pound, unless indicated otherwise (a)Other income (Total income)Trading profit (W2)(W3)(W4) Employment income (W1) Property income (W5) Total (net) income8,220 34,388 5,940 48,548 -10,000 38,548Less: Personal allowance (W6) Taxable incomeWorking 1 Employment income Salary 25,665 Benefit:-accommodation benefit (W1.1) -furniture benefit 9,400*0.2 Total6,843 1,880 34,388 Working 1.1 accommodation benefit basic rate: annual value4,600 2,243 6,843additional charge: (144,000-75,000)*3.25% taxable benefit:Working 2 tax -adjusted trading profitYear ended 30 April 2015=29,700- 300 (W2.1) =29,400 Working 2.1 capital allowanceprivate -used carsBusiness use %Capital allowanceTWDV B/D addition 0 18,750 18,750 -500 Balance WDA (8%*4/12) Total60%300 30018,250Working 3 Partnership profit allocationFlickArtTotalTotal29,400 (W2)-2,000less: salary to art Remaining 6,000*4/12=2,00016,44027,400 profit sharing10,960-27,400ratio(4:6) Total10,960 18,440 Working 4 sole trader basis tax year Basis periodProfit2014/15from 1/1/2015-6/4/201510,960 (W3)*3/4=8,220Working 5 property income Rental 660*12 7,920 council tax -1,320 -660 W&T allowance Total(7,920-1,320)*10%5,940Working 6 Personal allowances Adjusted net income= 49,065Born on or after 6 April 1948, so the standard PA of 10,000 should be used(b)3D Ltd will be responsible for paying class 1 NIC (both primary and secondary contributions) in respect of Flick’s salary.3D Ltd will be responsible for paying class 1A NIC in respect of Flick’s taxable benefits. Flick will be responsible for paying class 2 NIC in respect of her trading income. Flick will be responsible for paying class 4 NIC in respect of her trading income Tutorials:1.第一个税务年度所对应的 basis period 应该为公司成立日至第一个税务年度日(06/04/20XX) 2. For accommodation benefit, since the property was acquired more than 6 years before being provided to Flick, the market value at the date it was provided to her is used as the cost of providing the benefit, instead of the original cost.3. Cost of replacing furniture 和 wear & tear allowance 只能选其一抵减,本题中 flick 选择 使用 wear & tear allowance.4.对于求 trading income 的综合题，必须按照规定步骤按顺序计算：1.先求 tax -adjusted trading profit. 2. Partnership profit allocation 3. Basis period assessment.2. Neung Ltd （a ） Associates● ● Second Ltd and Fourth Ltd are not associated companies as Neung Ltd has ashareholding of less than 50% in Second Ltd, and Fourth Ltd is dormant. Third Ltd and Fifth Ltd is associated companies as Neung Ltd has ashareholding of over 50% in each case, and both are trading companies.（b ） Neung Ltd – Corporation tax computation for the year ended 31 March 2015£Trading profit(W1) 358,766(25,200 + 12,600) 37,800396,566Interest income Taxable total profitFranked investment income Augmented profits(37,800/90%) 42,000438,566Corporation tax at marginal rate £396,566 at 21% 83,279(139) Marginal relief1/400 * (500,000 – 438,566) x396,566/438,566 Corporation tax liability83,140(W1) Trading profit£622,536 11,830 Operating profit Depreciation Amortisation7,000 Less: Deduction for lease premium (w2) Capital allowances (w3) Trading profit(4,340) (278,260) 358,766(W2) Deduction for lease premium£140,000 (53,200 86,800 4,340Premium paidLess: £140,000*2%*(20-1)) Assessment on landlordAllowable deduction per year(£86,800/20)(W3) Capital allowancesMain poolSpecial rate poolAllowanceTWDV b/f4,80012,700Additional (no AIA ) Motor car (1) Motor car (2) Additional ( with AIA)15,40028,600 Ventilation system Less: AIA 270,000 (270,000) 28,100 270,000Balance 33,400 (6,012) WDA (18%) WDA (8%) 6,012 2,248 (2,248) 25,852TWDV C/F Total allowance27,388278,260 (W4) Corporation tax rateNeung Ltd has two associated companies; therefore there are three associated companies in total. £ 500,000 100,000Upper limit (£1,500,000/3) Lower limit (£ 300,000/3)3. TomOrdinary shares in Kapook plc(W1)Ordinary shares in Jooba Ltd (no gain no loss transfer between spouses) Antique table (W2)13,600- 3,500- UK Government securities (exempt) Chargeable gains 17,100 (6,100) 11,000 (11,000)Less: losses b/f (W3) Net chargeable gainsLess: annual exempt amount Taxable gainsTom therefore has a nil liability to capital gains tax in 2014/15 and capital losses carried forward of £ (15,900 – 6,100) = £9,800.(w1) The shares in Kapook plc are valued at the lower of: (a) 3.70 + ¼ × (3.90 – 3.70) = 3.75; (b) (3.60 + 3.80)/2 = 3.70The disposal is first matched against the purchase on 24 July 2014 (this is within the following 30 days) and then against the shares in the share pool. The cost of the shares disposed of is, therefore, £23,400 (5,800 + 17,600).No. of sharesCost£ £ Purchase 19 February 2004 Purchase 6 June 20098,000 6,00016,200 14,600 30,800 (17,600) 13,20014,000 (8,000) 6,000 Disposal 20 July 2014 £30,800 × 8,000/14,000 Balance c/f£ Deemed proceeds (10,000 × £3.70) Less: cost 37,000 (23,400) 13,600Chargeable gains(w2) The antique table is a non -wasting chattel. £ proceeds 8,700 (5,200) 3,500Less: cost Chargeable gainsThe maximum gain is 5/3 × £(8,700 − 6,000) = £4,500. The chargeable gain is the lower of £3,500 and £4,500, so it is £3,500.(w3)The set off of the brought forward capital losses is restricted to £6,100 (17,100 – 11,000) so that chargeable gains are reduced to the amount of the annual exempt amount.4. IHT£CLT (20/06/2007) 280,000 Less annual exemption - - 2007/08 2006/07 (3,000) (3,000) 274,000IHT liability274,000 x 0% = 0£PET (05/10/2013)255,000 Less annual exemption - - 2013/14 2012/13(3,000) (3,000) 249,000The PET is initially exemption from IHT liability.Death date: 12/03/2015CLT (20/06/2007) was made more than 7 years ago, so there is no additional IHT liability incurred.£PET (05/10/2013)249,0000 422,500 (W1) – 274,000 = 148,500 x 0% 249,000 – 148,500 = 100,500 x 40% IHT liability40,200 40,200Value of death estate£850,000 460,000 275,000 PropertyBuilding society depositsProceeds of life assurance policy Less Funeral cost(18,000) 1,567,000422,500 – 249,000 = 173,500 x 0%1,567,000 – 173,500 = 1,393,500 x 40%557,400557,400IHT liability(W1)Nil rate band for Nicola in tax year 2014/15 is 325,000 + 325,000 x (1 – 70%) = £422,500. 5.(a) (1) Wind can use both schemes because its expected taxable turnover for the next 12month does not exceed £1,350,000 exclusive of VAT; in addition, for both of the schemes the company is up to date with its VAT returns.(2) With the cash accounting scheme, output VAT will be accounted for one monthlater than at present since the scheme will result in the tax point becoming the date that payment is received from customers and the recovery of input VAT will not be affected as these are paid in cash.(3) With the annual accounting scheme, the reduced administration in only having tofile one VAT return each year should have save overtime costs.此处的考点为special scheme，注意三种不同的scheme的使用条件以及各自的优缺点，在回答优缺点时注意结合题目所给具体条件答题(b) (1) from suppliers situated outside EUWind Ltd will have to pay VAT of £8,000 (40,000×20%) to HM Revenue and Customs at the time of importation, and this will be reclaimed as input VAT on the VAT return for the period during which the equipment is imported.(2) From supplier situated within EUVAT will have to be accounted for according to the date of acquisition. This will be the Earlier of date that a VAT invoice is issued or the 15th day of the month following the Month in which the equipment transported to UK.The VAT charged of £8,000 will be declared on Wind Ltd’ VAT return as output VAT, But will then be reclaimed as input VAT on the same VAT return.6.(a) Sophie Shape – Schedule of tax paymentsDue date Tax year Payment £31 July 20152014–15Second payment on account 3,240 6,480 (5,240 + 1,240) x 50%31 January 20162014–15Balancing payment 5,98012,460 (6,100 + 1,480 + 4,880) – 6,480 (3,240 x 2)31 January 20162015–16First payment on account 3,790 7,580 (6,100 + 1,480) x 50%(b) (1) If Sophie’s payments on account for 2014–15 were reduced to nil, then she would be charged intereston the payments due of £3,240 from the relevant due date to the date of payment.(2) A penalty based on the amount of underpaid tax will be charged as the claim to reduce the payments on account to nil would appear to be made fraudulently or negligently.(c) (1) Unless the return is issued late, the latest date when Sophie can file a paperself-assessment tax return for 2014–15 is 31 October 2015.(d) (1) If HM Revenue and Customs (HMRC) intend to carry out a compliance check into Sophie’s 2014-15 tax return they will have to notify her within 12 months of the date when they receive the return.(2) HMRC has the right to carry out a compliance check as regards the completeness and accuracy of any return, and such a check may be made on a completely random basis.(3) However, compliance checks are generally carried out because of a suspicion that income has been undeclared or because deductions have been incorrectly claimed. For example, where accounting ratios are out of line with industry norms.X。
ACCA F5考前Tips：考试重点题型解析(上)
ACCA F5考前Tips：考试重点题型解析（上）读完这个东西只需要30分钟，但是做完这个东西拟定的任务需要7天。
但是，正好来得及~拿去！一包干到发燥的，点火就着的干货！Part oneGeneral causes of failure in F5 Exam做题顺序从考后的问询调查来看，相当一批学生一开始就选择攻克后面的大题: 手忙脚乱的先做完大题，发现只有20分钟来做前面的选择题了，因此闭上眼睛勾选，这基本等于自寻死路：不管难易，分值一样。
考试是现实而残酷的游戏，只会以成败论英雄。
要和我煮酒论英雄？我们考完试先！➤Tip: 请先完成SectionA, Section B的选择题, 这是性价比最高的两个部分.时间管理这个是通病，很多同学花时间在他们会做的题目上，跳过不会做的题目...另一位同学的留言: 通宵背了Advanced variance的公式，发现在选择题中用上了，兴奋得两眼放光，一个饿虎扑食，以难分难舍之势跟这个题浪了6分钟！交卷之前不放心，又花了3~4分钟重新验算的一遍！！哥！你对我是真爱，但是我只值2分！本来3.6分钟的事情你花了8分钟！你效率真高！➤Tip: 考前必须最少做10套真题，考前两天最少再做2套历史真题(严格控制时间)生僻考点本次出现了ROLLINGBUDGET的大题. 这个知识点属于常规低频考点（即：授课必讲，但出现在大题的概率不高, 最近一次是2012年12月的Designit Co). 虽然比较生僻，但是知识点覆盖极其常规，一定是Definition(What),Suitability (how), Advantage and Disadvantage (why).按照这个吃遍天下的套路，哪怕只是有模糊印象, 如果可以将这些印象和案例内容结合论述一下, 估计会有30%~40%的有效分。
但是我们一看到这种长得比较陌生的题，第一秒想到的居然不是知识，而是放弃！于是完全不下笔的童鞋很多!你不抓分，分不会从天上掉下来。
ACCA考试F7考试历年真题精选及详细解析1109-59
ACCA考试F7考试历年真题精选及详细解析1109-591. Petre owns 100% of the share capital of the following companies. The directors are unsure of whether the investments should be consolidated. In which of the following circumstances would the investment NOT be consolidated?A Petre has decided to sell its investment in Alpha as it is loss-making; the directors believe its exclusion from consolidation would assist users in predicting the group’s future profitsB Beta is a bank and its activity is so different from the engineering activities of the rest of the group that it would be meaningless to consolidate itC Delta is located in a country where local accounting standards are compulsory and these are not compatible with IFRS used by the rest of the groupD Gamma is located in a country where a military coup has taken place and Petre has lost control of the investment for the foreseeable future答案：A2. On 1 October 2013, Bertrand issued $10 million convertible loan notes which carry a nominal interest (coupon) rate of 5% per annum. The loan notes are redeemable on 30 September 2016 at par for cash or can be exchanged for equity shares. A similar loan note, without the conversion option, would have required Bertrand to pay an interest rate of 8%.The present value of $1 receivable at the end of each year, based on discount rates of 5% and 8%, can be taken as:5% 8%End of year 1 0·95 0·932 0·91 0·863 0·86 0·79How would the convertible loan appear in Bertrand’s statement of financial position on initial recognition (1 October 2013)?Equity Non-current liability$’000 $’000A 810 9,190B nil 10,000C 10,000 nilD 40 9,960答案：C3. The net assets of Fyngle, a cash generating unit (CGU), are:$Property, plant and equipment 200,000Allocated goodwill 50,000Product patent 20,000Net current assets (at net realisable value) 30,000––––––––300,000––––––––As a result of adverse publicity, Fyngle has a recoverableamount of only $200,000.What would be the value of Fyngle’s property, plant and equipment after the allocation of the impairment loss?A $154,545B $170,000C $160,000D $133,333答案：D4. When a gain on a bargain purchase (negative goodwill) arises, IFRS 3 Business Combinations requires an entity to first of all review the measurement of the assets, liabilities and consideration transferred in respect of the combination.When the negative goodwill is confirmed, how is it then recognised?A It is credited directly to retained earningsB It is credited to profit or lossC It is debited to profit or lossD It is deducted from positive goodwill答案：B5. On 1 October 20X1, Bash Co borrowed $6m for a term of one year, exclusively to finance the construction of a new piece of production equipment. The interest rate on the loan is 6% and is payable on maturity of the loan. The construction commenced on 1 November 20X1 but no construction took place between 1 December 20X1 to.31 January 20X2 due to employees taking industrial action. The asset was available for use on 30 September 20X2 having a construction cost of $6m.What is the carrying amount of the production equipment in Bash Co’s statement of financial position as at 30 September 20X2?A $5,016,000B $6,270,000C $6,330,000D $6,360,000答案：B。
2023年ACCA考试F1真题及答案
2023年ACCA考试F1真题及答案为了帮助准备ACCA考试的学生更好地备考，我们特别整理了2023年ACCA考试F1的真题及答案。
请注意，以下内容仅供参考和学习使用。
第一部分：2023年ACCA考试F1真题试卷一：ACCA F1 Financial Reporting and TaxationSection A - 选择题（共30分）1. XYZ 公司的现金流量报表中，下列项目属于现金流入的是：（A）销售商品收到的现金（B）购买固定资产支付的现金（C）取得长期贷款收到的现金（D）支付利润税款的现金2. 在现金流量报表中，投资活动的主要内容是：（A）经营性投资（B）筹资性投资（C）经济性投资（D）投机性投资3. ABC 公司在报告期内遭受亏损，亏损产生的主要原因是：（A）销售收入减少（B）成本费用增加（C）营运资金减少（D）折旧费用减少......Section B - 简答题（共70分）1. 问题：请简要解释远期汇率合同的基本原理。
答案：远期汇率合同是一种外汇交易形式，约定在未来某一特定日期以约定的汇率进行货币兑换。
它允许交易双方在未来锁定特定的汇率，以避免由于汇率波动所带来的风险。
2. 问题：简述巴鲁克公司如何应对经济衰退对其业务的影响。
答案：面对经济衰退，巴鲁克公司可以采取一些措施来应对。
首先，他们可以进行成本削减，减少不必要的开支，以保持盈利能力。
其次，他们可以寻找新的市场机会，例如拓展国际市场或开发新产品。
此外，他们还可以优化供应链，提高效率，降低生产成本。
最后，巴鲁克公司应加强财务管理，合理规划资金运作，确保资金的流动性和稳定性。
......第二部分：2023年ACCA考试F1答案Section A - 选择题1. 答案：（A）销售商品收到的现金2. 答案：（B）筹资性投资3. 答案：（B）成本费用增加......Section B - 简答题1. 答案：远期汇率合同的基本原理是约定未来某一特定日期以预先确定的汇率进行货币兑换的外汇交易方式。
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ACCA P4-P7模拟题及解析（6）
4A company’s policy as regards depreciation of its plant and machinery is to charge depreciation
at 20 per cent per year on cost, with proportional depreciation for items purchased or sold during
a year.
The company’s plant and machinery at cost account for the year ended 30 September 2003 is shown
below:
Plant and machinery – cost
2002$2003$
1 OctBalance (all plant purchased200,00030 Jun Transfer disposal account40,000 after 1999)2003
1 AprCash-purchase of plant50,00030 Sept Balance210,000
––––––––––––––––
250,000250,000
––––––––––––––––
What should be the depreciation charge for plant and machinery (excluding any profit or loss on
the disposal) for
the year ended 30 September 2003?
A$43,000 B$51,000 C$42,000 D$45,000
5A company’s trial balance failed to agree, the totals being:
Debit$815,602
Credit$808,420
Which one of the following errors could fully account for the difference?
AThe omission from the trial balance of the balance on the insurance expense account $7,182 debit
BDiscount allowed $3,591 debited in error to the discount received account
CNo entries made in the records for cash sales totalling $7,182
DThe returns outwards total of $3,591 was included in the trial balance as a debit balance
6The following control account has been prepared by a trainee accountant:
Receivables ledger control account
$$
Opening balance308,600Cash received from credit customers147,200
Credit sales154,200Discounts allowed to credit customers1,400
Cash sales88,100
Contras against credit balances in payables ledger4,600Interest charged on overdue accounts2,400
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Bad debts written off4,900
Allowance for doubtful debts2,800
Closing balance396,800
––––––––––––––––––
$555,500$555,500––––––––––––––––––
What should the closing balance be when all the errors made in preparing the receivables ledger
control account have been corrected?
A$395,200 B$304,300 C$307,100 D$309,500
Listed below are five potential causes of difference between a company’s cash book balance and
its bank statement balance as at 30 November 2003:
(1)Cheques recorded and sent to suppliers before 30 November 2003 but not yet presented for payment.
(2)An error by the bank in crediting to another customer’s account a lodgement made by the company.
(3)Bank charges.
(4)Cheques paid in before 30 November 2003 but not credited by the bank until 3 December 2003.
(5)A cheque recorded and paid in before 30 November 2003 but dishonoured by the bank.
Which of the following alternatives correctly analyses these items into those requiring an entry
in the cash book and those that would feature in the bank reconciliation?
Cash book entryBank reconciliation
A1, 2, 43, 5 B3, 5 1, 2, 4 C3, 41, 2, 5 D2, 3, 5 1, 4
试题答案：略
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