2022年ACCA-CAT考试历模拟考试题（一）.pdf

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1、2022年ACCA/CAT考试历模拟考试题精选姓名:年级:学号:题型选择题填空题解答题判断题计算题附加题总分得分评卷人得分1x (ii)D escr ibe the procedu res to ver i fy the nu mber of ser iou s accidents i n the year ended 30N ovember 2007.(4 marks)正确答案：(i i)Procedu res to ver ify the nu mber of ser iou s accidents du r i ng 2007 cou Id i ncIu de thefoI low in

2、g:ITu tor ia I note:procedu res shou Id focu s on the completeness of the di sclosu re as it i s in theinterest of Sci-Tech C o to u nderstate the nu mber of ser i ou s acc i dents.-Rev i ew the acc i dent I og book and cou nt the tota I nu mber of acc i dents du r i ng the year-D i scu ss the defin

3、ition of seriou s accident w ith the d i rectors and clarify exact Iy w hatcr i ter i a need to be met to sat i sfy the definition-For ser i ou s acc i dents identified:O?review HR records to determine the amou nt of time taken off w ork?review payrolI records to determine the f i nancia I amou nt o

4、f s ick pay aw arded to the employee?review correspondence w ith the empIoyee regarding the accident.Tu tor ia I note:the above w i I I help to clarify that the accident w as indeed ser iou s.-Review board minu tes w here the i ncrease in the nu mber of ser iou s accidents has been d i scu ssed-Revi

5、ew correspondence w ith Sci-Tech C o s IegaI advisors to ascertain any IegaI claims madeaga i nst the companydu e to accidents at w orkI I -Enqu i re as to w hether any health and safety visits have been condu cted du r ing the year byregu Iatory bod i es,and review any docu mentation or corresponde

6、nce issu ed to Sci-Tech C o after su ch visits.ITu tor iaI note:it is highly I ikely that in a regu lated indu stry su ch as pharmaceu tical research,any ser iou s accidentIw ou ld tr igger a health and safety inspect ion from the appropr iate regu latory body.I I -D iscu ss the level of accidents w

7、 ith representatives of Sci-Tech C o s employees to reachan u nderstand i ng as tow hether accidents sometimes go u nreported in the accident log book.2、(i i)C ompu te the annu a I i ncome tax sav i ng from you r recommendat i on i n(i)above as comparedw ith thesitu ation w here C i ndy reta i ns bo

8、th the property and the shares.I dent i fy any other taximp Ii cat i onsarising from you r recommendation.You r answ er shou Id cons i der a I I re Ievant taxes.(3 marks)正确答案：()Annual income tax saving and other issuesAnnual income tax savingIf Cindy owns all of the inherited assets the additional i

9、ncome tax is as follows.Tax on property income(see(i)5.640Tax on dividend income(see(i)2,7678,407The tax saved following the gift of the quoted shares to Arthur is 2.541(8,407-5.866).Other issuesTransfers between spouses take place at no gain,no toss for the purposes of capital gains tax.Arthurs bas

10、e cost in thequoted shares will equal Cindys base cost of 305,000.There are no inheritance tax implications due to the exemption for transfers between spouses.There are no sump duties on gifts.3、(i i i)Exp lain the potent i a I corporat i on tax(C T)impl ications of Tay Limited transferring w orkto

11、Trent Limited,and su ggest how these can be minimised or e Iiminated.(3 marks)正确答案：(i i i)Trading Iosses may not be carr ied forw ard w here,w ithin a per iod of three years therei s both a change i n the ow nersh i pZlof a company and a major change i n the natu re or condu ct of its trade.The tran

12、sfer of w orkfrom Tay Limited to TrentLimited is I ikeIy to constitu te a major change in the natu re or condu ct of the latter s trade.A s a consequ ence,any tax losses at the date of acqu isition w i I I be forfeited.A ssu ming Iosses w ere incu rred u niformlyin 2005,the tax losses at thedate of

13、acqu isition w ere 380,000(300,000+2/3 x 120,000).Th i s i s w orth 114,000 assu minga corporat i on tax Irate of 30%.IThu s,Tay Limited shou ld not consider transferr ing any trade to Trent Limited u nt i I after thethi rd anniversary of the date:lof the change of ow nership i.e.not before 1 Septem

14、ber 2008.A s the trades are simi lar,thereshou ld be IittIe problem i n transferr i ng w ork from that date onw ards.4、3 You are the manager respons i b I e for the au d i t of Vo I can,a I ong-estab I i shed I imi ted I i ab i I i tycompany.Vo I can operatesa nationaI su permarket chain of 23 store

15、s,five of w hich are in the capitaI city,Urvina.A l I the stores are managed inthe same w ay w ith pu rchases be i ng made throu gh Volcan,s centra I bu y i ng department and produ ctpr i c i ng,market i ng,advert i s i ng and hu man resou rces poIicies being dec ided centrally.The draft f inancia I

16、statements for the year ended31 March 2005 show revenu e of$303 million(2004-$282 mi I Ii on),prof i t before taxationof$9 0 5 million(2004-$7 -3 milli on)and totaI assets of$178 million(2004-$173 mi I Ii on).The fol low ing issu es arising du r ing the final au dit have been noted on a schedu le of

17、 pointsfor you r attention:(a)On 1 May 2005,Vo I can annou nced its intention to dow nsize one of the stores in Urv i nafrom a su permarket toa C ity Metro i n response to a significant deciine i n the demand for su permarket-sty Ie.shopping in the capital.The store w i I I be closed throu ghou t Ju

18、 ne,re-opening on 1 Ju ly 2005.Goodw i I I of$5,5 mi I I ionw as recognisedthree years ago w hen th i s store,together w i th tw o others,w as bou ght from a nat i ona I compet i tor.It is Volcan spol icy to w r ite off goodw i I I over five years.(7 marks)Requ i red:For each of the above i ssu es:(

19、i)comment on the matters that you shou Id consider;and(i i)state the au dit evidence that you shou Id expect to f ind,i n u ndertak i ng you r rev i ew of the au dit w ork i ng papers and fi nanc i a I statements of Vo I canfor the year ended31 March 2005.N OTE:The mark a I Iocat i on i s show n aga

20、 i nst each of the three i ssu es.正确答案：3 VOLC A N(a)Store impa i rment(i)Matters Mater i a I i ty?The cost of goodw i I I represents 3,1%of totaI assets and i s therefore mater i a I.!I?How ever,after three years the carrying amou nt of goodw iI I ($2,2m)represents only 1 ,2%of total assets-land is

21、therefore immater iaI in the context of the balance sheet.I I?The annu a I amortisation charge($1 1m)represents 11-6%profit before tax(PB T)and i stherefore a I somater i a I (to the i ncome statement).?The impact of w riting off the w hole of the carry i ng amou nt w ou Id be mater i a I to PB T(23

22、%).Tu tor i a 1 note:The temporary closu re of the su permarket does not constitu te a d i scont i nu edoperat i on u nder IFRS 5 N on-C u rrent A ssets He Id for Sa Ie and D i scont i nu ed Operations.Under I FRS 3 B u siness C ombinations*Vo I can shou I d no I onger be w riting goodw i I I off ov

23、erf ive years bu t su bject i ng it to an annu a I impa i rment test.The annou ncement i s after the ba I ance sheet date and i s therefore a non-adju st i ng event(IA S10 Events A fter theIB alance Sheet D ate*)insofar as no provision for restru ctu r ing(for example)can be made.How ever,the event

24、provides evidence of a possibIe impai rment of the cash-generat ing u nitw h i ch i s th i s store andr in particu lar,the valu e of goodw i I I assigned to it.!If the carrying amou nt of goodw i I I ($2,2m)can be a I located on a reasonable and cons i stentbas i s to th i s and the:lother tw o stor

25、es(pu rchased at the same time)Volcan,s management shou ld have appl ied animpa i rment test toI Ithe goodw iI I of the dow nsized store(this is likely to show impai rment).IB If more than 22%of goodw i I I i s attr ibu tabIe to the C ity Metro store-then its w r ite-offw ou Id be mater i a I to PB

26、T(22%X$2 2m$9-5m=5%).!If the carry i ng amou nt of goodw i I I cannot be so a I Iocated;the impa i rment test shou Id beappI i ed to theLlcash-generat ing u nit that is the three stores(thi s may not necessar iIy show impai rment).Management shou Id have cons idered w hether the other fou r stores i

27、 n Urv i na(and eIsew here)are s imi I ar Iy impai red.Go i ng concern i s u ni i keIy to be an i ssu e u nI ess al I the su permarkets are Iocated i n citiesfac i ng a dow nw ard trend i n demand.Tu tor i a I note:Marks w i I I be aw arded for stat i ng the ru Ies for recognition of an impa i rment

28、Ioss for a cash-generat i ngu nit.How ever,as it i s expected that the major ity of candidates w i I I not dea I w ith thi s matter,the ru Ies of IA S 36 arenot reprodu ced here.(i i)A u dit evidenceIB B oard minu tes approving the store,s facelift and docu menting the need to address thefa I I in d

29、emand for it as a su permarket.1!Recompu tation of the carrying amou nt of goodw i I I (2/5 X$5 5m=$2 2m).IB A schedu le identifying a I I the assets that relate to the store u nder review and the carryingamou nts thereof agreedO t o the u nder lying accou nt ing records(e.g.non-cu rrent asset regis

30、ter).Reca I cu I at ion of va I u e i n u se and/or fa i r va I u e I ess costs to se I I of the cash-generat i ngu nit(i.e.the store that i s tobecome the C ity Metro,or the three stores bou ght together)as at 31 March 2005.Tu tor i a I note:I f ju st one of these amou nts exceeds carry i ng amou n

31、t there w i I I be no impa i rmentIoss.A lso,asthere i s a p I an N OT to sei I the store it i s most I i ke I y that va I u e i n u se shou I d be u sed.A greement of cash flow projections(e.g.to approved bu dget s/f or ecast revenu es and costsfor a maximu m of five:lyears,u nless a longer per iod

32、 can be ju stified).Wr i tten management representat i on re I at i ng to the assu mpt i ons u sed i n the preparat i on off i nanc i a I bu dgets.IB A greement that the pre-tax discou nt rate u sed reflects cu rrent market assessments of thetime vaIu e of money(andI Ithe r i sks specific to the sto

33、re)and i s reasonabIe.For example,by compar i son w ith Volcan,s w eighted average costlof capital.IB Inspection of the store(if this month it shou ld be closed for refu rb i shment).IB Revenu e bu dgets and cash fIow projections for:-the tw o stores pu rchased at the same time;-the other stores i n

34、 Urv i na;and-the stores eIsew here.JA I so actu aI after-date saIes by store compared w ith bu dget.5、B ig C heese C hai rs(B C G)manu factu res and sells execu t i ve leather chai rs.They are consider inga new design of massaging chai r to Iau nch into the compet it i ve market in w hich they oper

35、ate.They have carr i ed ou t an i nvest i gat i on i n the market and u s i ng a target cost i ng system havetargeted a compet itive selling pr ice of$120 for the chai r.B C G w ants a margin on selling pr iceof 20%(i gnor ing any overheads).The frame,and massage mechan i sm w i I I be bou ght i n f

36、or$51 per cha i r and B C C w i I I u pho I steri t i n Ieather and assembIe i t ready for despatch.Leather costs$10 per metre and tw o metres are needed for a comp Iete cha i r althou gh 20%ofa I I Ieather i s w asted i n the u phoIstery process.The u phoIstery and assembIy process w i I I be su bj

37、ect to a I earn i ng effect as the w orkers getu sed to the new design.B C C estimates that the f i rst cha i r w i I I take tw o hou rs to prepare bu t this w ill be su bjectto a learning rate(LR)of 95%.The learning improvement w ill stop once 128 chai rs have been made and the time for the 128thch

38、a i r w i I I be the time for a I I su bsequ ent chai rs.The cost of labou r i s$15 per hou r.The I earn i ng formu I a i s show n on the formu I a sheet and at the 95%I earn i ng rate the vaIu eof b is-0-074000581.Requ i red:(a)C alcu late the average cost for the f i rst 128 cha i rs made and iden

39、tify any cost gap thatmay be present atthat stage.(8 marks)(b)A ssu mi ng that a cost gap for the cha i r ex i sts su ggest fou r w ays i n w h ich it cou Id be c I osed.(6 marks)The produ ct i on manager den i es any claims that a cost gap ex i sts and has stated that the costof the 128th chai r w

40、i I I be Iow enou gh to yield the requ i red margin.(c)C aleu I ate the cost of the 128th cha i r made and state w hether the target cost i s be i ngach i eved on the 128th cha i r.(6 marks)正确答案：(a)The average cost of the first 128 chairs is as follows：$Frame and massage mechanism 51 00Leather 2 met

41、res x$10/mtr x 100/80 25 00Labour(W l)20-95Total96-95Target selling price is$120.Target cost of the chair is therefore$120 x 80%=$96The cost gap is$96-95-$96-00=$0-95 per chair(W1)The cost of the Iabou r can be caIcu Iated u s i ng I earn i ng cu rve pr i nc i p Ies.The formu I a canbe u sed or a ta

42、bu I ar approach w ou Ida I so give the average cost of 128 cha i rs.B oth methods are acceptabIe and show n here.Y=axbY=2 X 12 80 074000581Y=1-396674592labulation：Cumulative outputAverage time perTotal time(hrs)Average cost per(units)unit(hrs)chair at$15 per hour1221-941-80581-71475161-6290125321-5

43、4756188641-470183781281-396674591787720-95Formula：The average cost per chair is 1-396674592 x$15=$20-95(b)To redu ce the cost gap var i ou s methods are poss i b I e(on I y fou r are needed for fu I I marks)-Re-des i gn the cha i r to remove u nnecessary featu res and hence cost-N egotiate w ith the

44、 frame.su ppl ier for a better cost.This may be easier as the voIu meof saIes improve as su ppIiers oftenare w i I I ing to give discou nts for bu Ik bu ying.A lternativeIy a different frame.su ppI ier cou Idbe fou nd that offers a betterpr i ce.C are w ou Id be needed here to ma i nta i n the requ

45、i red qu a Iity-Leather can be bou ght from d i fferent su ppIi ers or at a better pr i ce a I so.Redu cing thelevel of w aste w ou ld save on cost.Even a smalI redu ct i on i n w aste rates w ou Id remove mu ch of the cost gap that ex i sts-Improve the rate of I earn i ng by better tra i ni ng and

46、su perv i s i on-Emp I oy cheaper I abou r by redu cing the skill level expected.C are w ou ld a I so be needed herenot to sacr if ice qu a Iity orpu sh u p w aste rates.(c)The cost of the 128th chai r w i I I be:$Frame and massage mechanism 51-00Leather 2 metres x$10/mtr x 100/80 25-00Labour 1-29 h

47、ours x$15 per hour(W2)19-35Total95-35Against a target cost of$96 the production manager is correct in his assertion that the required return is now being achieved.(W2)Using the formula,we need to calculate the cost of the first 127 chairs and deduct that cost from the cost of the first 128chairs.Y=a

48、xbY=2 X 270O74000581Y=1-39748546Ibtal time is 127 x 1-39748546=177-48 hoursTime for the 128th chair is 178-77-177-48=1-29 hours6、5 The d i rectors of B I a i na Packag i ng C o(B PC),a w e I I-estab Ii shed manu factu rer of cardboardboxes,are cu rrent Iycons i der i ng w hether to enter the cardboa

49、rd tu be market.C ardboard tu bes are pu rchased bycu stomers w hoseprodu cts are w ou nd arou nd tu bes of var iou s s izes ranging from Iarge tu bes on w hich carpetsare w ou nd,to smaI Itu bes arou nd w hich films and paper produ cts are w ou nd.The cardboard tu bes are u su allypu rchased in ver

50、y largequ antities by cu stomers.On average,the cardboard tu bes compr i se betw een 1%and 2%of thetotaI cost of thecu stomers finished produ ct.The di rectors have gathered the fol low ing information:(1)The cardboard tu bes are manu factu red on mach i nes w h ich vary i n s ize and speed.The I ow