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1、2022年ACCA/CAT历模拟考试题姓名: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1 x (b) (i) Exp la i n, by reference to Coral1 s residence, ordinary residence and domici Ie position, how the rentaI1 ncome arising i n respect of the property i n the country of Ka I ani a will be taxed i n the UK i n the tax year2007/08. St
2、ate the strategy that Cora I shouId adopt i n order to minimise the totaI i ncome tax sufferedon the rentaI i ncome. (7 marks)正确答案:(b) (i) UK tax on the rentaI incomeI Cora I i s UK res i dent i n 2007/08 because she i s present i n the UK for more than 182 days. Accordingly, she wiI I beI Isub ject
3、 to UK i ncome tax on her Kalani an rentaI i ncome.ICoral is ordinarily resident in the UK in 2007/08 as she is habitually resident in the UK.I Cora I wi I I have acqu i red a domici Ie of origin in Kalani a from her father. She has not acqu i red a domiciIe of choice in theIUK as she has not severe
4、d her t i es with Ka I an i a and does not i ntend to make her permanent home in the UK.Accordingly, the rentaI income wi I I be taxed in the UK on the remittance basis.Any rentaI i ncome remitted to the UK wiI I fa I I i nto the bas ic rate band and wi I I be subject to i ncome tax at 22% on thegro
5、ss amount (before deduct i on of Kalani an tax). Un i I atera I doub I e tax re I i ef wi I I be ava i table i n respect of the 8% tax suffered i n Ka I an i a such that the effect i ve rate of tax suffered by Cora I i n the UK on the grossed up amount of i ncome remitted wi I I be 14%. In order to
6、minimise the totaI i ncome tax suffered on the rentaI i ncome Cora I shouId ensure that it is not brought into or used in the UK such that it wiI I not be subject to income tax in the UK.Coral shouId reta i n ev i dence, for examp Ie bank statements, to show that the rentaI i ncome has not been remo
7、ved fromiKa I an i a. Cora I can use the money wh i 1st she i s on ho I i day i n Ka I an i a with no UK tax imp I i cat ions. 2、(i i i) assesses TSC in terms of f inancia I performance, compet i t i veness, service qua I i ty, resource ut iIi sat i on,fI ex i b iIi ty and i nnovat i on and d i scus
8、ses the i nterre I at i onsh i ps between these terms, i ncorporat i ngexamp Ies from within TSC; and (10 marks)正确答案:(i i i) The terms Iisted may be seen as representative of the dimensions of performance. The d i mens i ons may be ana Iysed i nto results and determinants.The resu I ts may be measur
9、ed by focus i ng on f i nanc i a I performance and compet i t i veness. F i nanc i a I performance maybe measured in terms of revenue and profit as shown in the data in the appendix of the question i n respect of TSC. Thepoints system in part (a) of the answer shows which depots have achieved or exc
10、eeded the target set. In addition,II iquidity i s another aspect of the measurement of f i nanci a I performance. The poi nts totaI in part (a) showed thatI iLeonardotown and MichaeIangeIotown depots appear to have the best current record in aspects of credit control. 15I Compet it i veness may be m
11、easured i n terms of saIes growth but a I so i n terms of market share, number of newcustomers, etc. In the TSC statistics avai IabIe in (a) we only have data for the current quarter. Th i s shows that three ofthe four depots Ii sted have achieved increased revenue compared to target.iThe determinan
12、ts are the factors which may be seen to contr ibute to the achievement of the results. Qua Iity, resource uti I isation, f lexibi I ity and innovation are cited by Fitzgerald and Moon as examples of factors that should contr ibute tothe ach i evement of the resuIts i n terms of f i nanc i a I perfor
13、mance and compet i t i veness. In TSC a main qua Iity i ssueappears to be customer care and service delivery. The statistics in the points table in part (a) of the answer show thatthe RaphaeI town depot appears to have a major prob Iem i n this area. It has on Iy ach i eved one point out of the sixa
14、vai I able i n th i s part i cu I ar segment of the stat i sties._iResource ut i I i sat i on for TSC may be measured by the I eve I of effect i ve use of dr i vers and veh i c I es. To some extent, th i s i s h i ghIi ghted by the stat i st ics re I at i ng to customer care and service de Ii very.
15、For examp Iet I ate co I Iect i on of cons i gnmentsOfrom customers may be caused by a shortage of vehicles and/or dr i vers. Such shortages could be due to staff turnover,Os ickness, etc or prob I ems with veh ic I e ma i ntenance.OF I ex i b i I i ty may be an i ssue. There may, for examp I et be
16、a prob I em with veh i c I e ava i I ab i I i ty. Poss i bIy an i ncreased focusOon sources for short-term sub_contract ing of vehicles/collections/deliveries mi ght he Ip overcome de I ay prob Iems.The target v actua I po i nts system may be seen as an examp I e of i nnovat i on by the company. Thi
17、s gives a detaiIed setof measures that shouId prov i de an i ncent i ve for improvement at a I I depots. The points system may iI Iustrate the extentof ach i evement/non-ach i evement of company strateg i es for success. For examp Ie TSC may have a customer carecommitment policy which identifies fac
18、tors that should be achieved on a continuing basis. For example, timely col lectionI of cons i gnments, mi sd i rected cons i gnments re-deIi vered at no extra charge, prompt responses to customer claims andIcompensat i on for customers.3、(i i) the d i rectors agree to d i sc lose the note. (4 marks
19、)正确答案:(i i) If the d i rectors agree to d i sc lose the note, it shouId be rev i ewed by the aud i tors to ensure that it is sufficiently detai led.ln evaIuating the adequacy of the disciosure in the note, the auditor should consider whether the d i sc Iosure exp Iic i11yIdraws the reader s attentio
20、n to the possibi I ity that the entity may not be able to continue as a go i ng concern i n the foreseeabIe future. The note should i ncIude a descr i pt i on of cond it i ons giving r i se to s ignificant doubt, and the di rectorsplans to dea I wi th the cond i t i ons. If the note prov i ded conta
21、 i ns adequate i nformat i on then there i s no breach of f i nanc i a I report ing standards, and so no di sagreement with the di rectors. If the disci osure i s cons i dered adequate, then the opinion shou Id not be qua I if ied. The aud i tors should consider amod i f i cat i on by add i ng an em
22、phas i s of matter paragraph to h i gh I i ght the ex i stence of the mater i a I uncerta i nt i es, and to_Id raw attent i on to the note to the f i nanc i a I statements. The emphas i s of matter paragraph shou I d firstly conta i n a br i efZUdescr i pt i on of the uncerta i nt i es, and a I so r
23、efer exp Ii c i 11y to the note to the f i nanc i a I statements where the s ituat i on hasbeen fully descr i bed. The emphas i s of matter paragraph shou I d re-i terate that the audit opinion i s not qua Ii fied.I However, it could be the case that a note has been given in the f i nanc i a I state
24、ments, but that the deta iIs are i nadequateland do not fully explain the significant uncertainties affecting the going concern status of the company. In th i s s i tuat i onthe auditors should express a qua I if ied opinion, di sagreeing with the preparat ion of the financial statements, as the d i
25、 sc Iosure requ i rements of IAS 1 have not been fol lowed.4、(c) Out Ii ne the prob Iems with references. (7 marks)(15 marks)正确答案:Part (c)There can be s i gn i f icant prob Iems with references, these incIude the fact that most referees are we I I known to the appIi cant and hesitate to say anything
26、 critical. However, the more skiIful reference reader I earns to look for what is conspicuous by omissionla I though there i s always the r i sk that the wr i ter mere Iy forgot.I Often there are glowing tr i butes des i gned to aid the cand i date on the i r way and some can be too amb i guous to b
27、e usefuI.I I It i s a I so important to note that references are poor predictors of future performance, are time consuming for the referee and theI subsequent reader. A part i cuI ar prob Iem i s that empIoyers who want to r i d themseIves of unsat isfactory empIoyees could wr i te anlenthusiastic r
28、eference, or at best one which leaves a lot unsaid.I However, care should be taken when providing references. Potentially, there can be IegaI consequences if a reference is misleadingor misrepresents the person for whom the reference is provided.ln add it i on, prob I ems can ar i se when references
29、 are sought too ear I y i n the recru i tment process and therefore breach conf i dent i a Ii ty.5、(c) Assuming that Joanne regi sters for vaIue added tax (VAT) with effect from 1 Apr i I 2006:(i) Ca I cu I ate her i ncome tax (IT) and cap i ta I ga i ns tax (CGT) payable for the year of assessment
30、2005/06.You are not requ i red to caIcuI ate any nat i onaI i nsurance Ii ab i Ii t i es in this sub_part. (6 marks)正确答案:(c) (i) Income tax calculation for the tax year 2005/06NotesEmployment income(1)25.000Schedule 0 Case I income(2)5.305Statutory total income30.305Less personal allowance(4.745)Tax
31、able income25.560Income tax thereon：2.020 x 10%20223.540 x22%5,17925.5605.381Less, paid unde PAYE(4.200)1.381Notes(1) The payment made Joanne for the notice period will be taxable as it derrves from her contract of employment.(2) Joanrs first accounting period is the four months to 31 March 2006. He
32、r basis period is I December 2005 to 5 April 2006 Joannes Schedule D Case I income for the year includes VAT on all costs, and is calculated as follows：Income (2.000 十 3.000 , 4.000 + 5.000) 14.000Expenses (5.875 十(4 x 400 x 1 175)(7.755)Capital allowances： FYA (2.350 x 40%)(940)5,305The tax written
33、 ckwn value at 31 March 2006 is 1,410.As Joanne is not paying higher rate tax for the year, the first 5,840 of any taxable gains will be taxed initially at 20%.The capital gains calculation is therefore：ProceedsLess costNote 21.500 (3.500)Unindexed gdinIndexation： 162 6 - 98 3/98 3(D18.000(2.289)15.
34、711Gains after taper relief at 30% (non-business assei/8 years (7 years less, annual exemption, bonus)10.998(8.200)Taxable gain2.798Capital gains tax at 20%560o6 5 An enterpr i se has made a mater i a I change to an account ing poI icy i n prepar i ng i ts current f i nanc i a I statements.Which of
35、the fol lowing disciosures are requi red by IAS 8 Accounting policies, changes in accounting estimatesand errors i n these f i nanc i a I statements?1 The reasons for the change.2 The amount of the consequent adjustment in the current period and in comparative information for pr ior per iods.3 An es
36、timate of the effect of the change on future per iods, where poss i bIe.A 1 and 2 onlyB 1 and 3 onlyC 2 and 3 onlyD Al I three items正确答案:A7、(b) One of the hote I s owned by Norman i s a hote I comp I ex wh i ch i nc I udes a theme park, a cas i no and a go If course,as well as a hote I. The theme pa
37、rk, cas i no, and hote I were so I d i n the year ended 31 May 2008 to Conquest, apub Ii c Iimi ted company, for $200 million but the sa I e agreement stated that Norman would cont i nue to operateand manage the three bus i nesses for thei r remai ning useful Iife of 15 years. The res iduaI interest
38、 in the businessreverts back to Norman after the 15 year per i od. Norman wou I d rece i ve 75% of the net profit of the bus i nessesas operator fees and Conquest would receive the remaining 25%. Norman has guaranteed to Conquest that thenet mini mum prof i t pa i d to Conquest wouId not be less tha
39、n $15 mi I Ii on. (4 marks)Norman has recent Iy started i ssu i ng vouchers to customers when they stay i n i ts hoteIs. The vouchers ent i 11e thecustomers to a $30 d i scount on a subsequent room book i ng within three months of the i r stay.H i stor i caIexper i ence has shown that on Iy one i n
40、five vouchers are redeemed by the customer. At the company, s year endof 31 May 2008, it is estimated that there are vouchers worth $20 million which are el igibIe for d i scount. Theincome from room saIes for the year is $300 million and Norman is unsure how to report the i ncome from roomsaIes i n
41、 the fi nanci a I statements. (4 marks)Norman has obta i ned a s i gn i f i cant amount of grant i ncome for the deveIopment of hoteIs i n Europe. The grantshave been rece i ved from government bod i es and re I ate to the s i ze of the hoteI wh i ch has been built by the grantass i stance. The i nt
42、ent i on of the grant income was to create jobs i n areas where there was significantunemployment. The grants received of $70 mi I I ion wi I I have to be repaid if the cost of bui Iding the hoteIs i s I essthan $500 mi I I ion. (4 marks)Appropr i ateness and qua Iity of d i scuss i on (2 marks)Requ
43、 i red:D i scuss how the above i ncome wouId be treated i n the f i nanc i a I statements of Norman for the year ended31 May 2008.正确答案:(b) Property is sometimes sold with a degree of continuing involvement by the seiler so that the r i sks and rewards of ownersh i phave not been transferred. The nat
44、ure and extent of the buyer s invoIvement wiI I determine how the transact i on i s accountedOfor. The substance of the transact i on i s determi ned by Iook i ng at the transact i on as a who Ie and IAS18 Revenue requ i resthis by stat i ng that where two or more transact i ons are Ii nked, they sh
45、ouId be treated as a single transact i on i n order to understand the commerc i a I effect (IAS18 paragraph 13). In the case of the saIe of the hoteI, theme park and cas i no, Norman should not recogni se a sale as the company cont i nues to enjoy substant ia I Iy a I I of the r i sks and rewards of
46、 the bus inessestand still operates and manages them. Additional ly the residuaI interest in the business reverts back to Norman. Also Norman has guaranteed the i ncome I eve I for the purchaser as the minimum payment to Conquest wiI I be $15 million a year. TheItransaction is in substance a financi
47、ng arrangement and the proceeds shouId be treated as a loan and the payment of profitslas i nterest.! IThe principles of IAS18 and IFRIC13 Customer Loyalty Programmes requi re that revenue in respect of each separateI component of a transact i on i s measured at its fa i r vaIue. Where vouchers are
48、i ssued as part of a saIes transact i on and are redeemable against future purchases, revenue should be reported at the amount of the consideration received/receivabIe lessthe voucher s fair vaIue. In substance, the customer is purchasing both goods or services and a voucher. The fai r value of the voucher is determined by refe