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1、2022年ACCA/CAT考试模拟考试题精选及答案姓名: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入得分1、(i i)the strategy of the business regarding its treasury pol icies.(3 marks)(Marks wi I I be awarded i n part(b)for the i dent i f i cat i on and d i scuss i on of re Ievant po i ntsand for the sty Ie.of thereport.)正确答案：(i i)Strategy o
2、f the business regarding its treasury policiesITreasury policies are reviewed regularly by the B oard.It i s group pol icy to account for a I Ifinancial instruments as cashflow hedges.A s a result,changes in the fair values of financial instruments are deferred inreserves to the extent theI Ihedge i
3、 s effective and released to profit or loss i n the time per iods i n which the hedged itemimpacts profit or loss.IThe G roup contracts fixed rate currency swaps and i ssues fI oat i ng to fixed rate i nterest rateswaps to meet the object i veof protecting borrowing costs.The cash flow effects of th
4、e interest rate swaps match the cashfIows on the under lying i nstruments so that there i s no net cash f Iow effect from movements i n market i nterest rates.If the i nterest rate swaps had not been transacted there could have been an increase i n the annua I net interest payableto the G roup.The s
5、trategy of the group is to minimise the exposure to interest rate fluctuations.2、(c)A ssess the Iikely cr iter ia which would need to be satisfied for software to be regardedas quality software1.(4 marks)正确答案：(c)The fol lowing are important considerations regarding the qua I i ty of the business sof
6、tware:-The software is error-free as this will improve its reliability.Whilst in practice thismight not always be achievable thed i rectors of SSH must recogn i se the dangers i nvoIved i n supplying bespoke software wh i ch mayprove damaging to thei rclients bus i nesses with the resu11 i ng Ioss o
7、f cIi ent goodwi I I.-The software should meet qua I ity control standards such as those specified by the ISO(InternationaI StandardsOrganisation).-The software must be delivered on time.Late delivery of business software wiI I proveprob I emat ic s i nee cI i ents may re Iyon updated software to me
8、et new customer needs or to fuIfiI revised business objectives.-The software must meet the initial spec i f i cat i on of the customer.I n meet i ng the spec i f icat ionSSH wiI I be demonstratingthat the software has been produced correct Iy with an appropr iate focus on the requ i rementsof end us
9、ers.-The software must be usabIe i.e.as well as being able to do what i t i s supposed to do i tis important that it is easy to use.I I -The software should be capable of being updated in the Iight of future changes that occuri n the clients requi rements.3、(e)B r ief Iy discuss FOUR init iat i ves
10、that management might consider in order to further enhanceprofitabi Iity.(4 marks)正确答案：(e)In order to enhance profitabiIity management might take the fol lowing actions:O (i)Increase the maximum capacity of the ci reus.(i i)Undertake a detai led review of operating costs which are budgeted at 239,20
11、0,000.Sucha review might identify nonvaIueadded costs which may be eIiminated thereby increasing profitabi Iity.(i i i)Enter into a strategic arrangement with large hoteIs and traveI agencies to offer traveland accommodat i on inclusiveOarrangements for v i s i tors to C i no I a IsI and.Th i s migh
12、t he Ip to i ncrease the number of v i s i torsto the zoo thereby increasingprofits.(i v)C hange the pr ice structure and entitlement of tickets so that purchasers might visit C i no I aIsI and on two separate days in order to attend the zoo and ci reus.A dd it ionaI revenues wouId ar i se as a cons
13、equence of thei ncreased number of visitors to the zoo,thereby increasing profitabi Iity.(v)Hold pr ize draws for free t ickets to the zoo for fami I ies on an all-inclusive basis,including restaurants,photographs,souven i rs etc.N.B.On I y four i n i t i at i ves were requ i red to be d i scussed.4
14、、5 You are the manager responsibIe for the audit of B Iod C o,a Iisted company,for the yearended 31 March 2008.Yourf i rm was appo i nted as aud i tors of Blod Co i n September 2007.The aud i t work has been comp I eted,and you arereviewing the working papers in order to d raft a report to those cha
15、rged with governance.The statement of financialpos i t i on(ba Iance sheet)shows totaI assets of$78 m illion(2007-$66 m ill ion).The ma i nbusiness a c tiv ity of BlodCo i s the manufacture of farm machinery.Dur i ng the aud i t of property,p I ant and equ i pment i t was d i scovered that contro I
16、s over cap i ta Iexpend i ture transact i onshad deter i orated dur i ng the year.Author i sat i on had not been ga i ned for the purchase of o fficeequipment with a costof$225,000.No mater i a I errors i n the f i nanc i a I statements were revea I ed by audit proceduresperformed on property,pI ant
17、 and equ i pment.An internally generated brand name has been included in the statement of financial position(ba Iance sheet)at a fai rvalue of$10 mi I I ion.Audit working papers show that the matter was d i scussed with the financialcontroller,whostated that the$10 m illion represents the present va
18、lue of future cash flows estimated tobe generated by the brandname.The member of the audit team who comp I eted the work programme on intangible assets hasnoted that th i streatment appears to be in breach of IAS 38 Intangible Assets,and that the management refusesto derecogn i se theasset.Prob Iems
19、 were exper i enced i n the aud i t of i nventor i es.Due to an oversight by the i nternaIauditors of Blod Co,theexterna I aud i t team d id not recei ve a copy of i nventory count i ng procedures pr ior to attend i ngthe count.This causeda delay at the beg inning of the i nventory count,when the au
20、d i t team had to quickly fam i I iar isethemseIves with theprocedures.In addition,on the fin a l audit,when the audit senior requested documentationto support the fin ali nventory vaIuat i on,i t took two weeks for the i nformat i on to be rece i ved because theaccountant who had preparedthe schedu
21、les had mislaid them.Requi red:(a)(i)Identify the main purpose of including lf indings from the audit*(management letterpo i nts)i n a reportto those charged with governance.(2 marks)正确答案：5 B Iod C o(a)(i)A report to those charged with governance i s produced to commun i cate matters re I at i ngto
22、the external audit to thosewho are ultimate Iy respons i bIe for the fi nanc i a I statements.ISA 260 C ommun i cat i on of A uditMatters With ThoseC harged W i th G overnance requ i res the aud i tor to commun i cate many matters,including i ndependenceand other ethicaI i ssues,the audit approach a
23、nd scope,the deta i I s of management representat i ons,and the findingsof the audit.Thef i nd i ngs of the audit are common Iy referred to as management letter po i nts.B y commun i cat i ngthese matters,the auditor i s conf ident that there i s wr i tten documentat ion out I i ni ng a I I signif i
24、cant matters ra i sed dur i ngthe aud i t process,and that such matters have been forma I Iy not i f i ed to the h i ghest I eve I of management of the cI i ent.Forthe management,theI (report should ensure that they fully understand the scope and results of the audit service whichhas been provided,a
25、ndI i s I ike Iy to provide constructive comments to help them to fulfil thei r duties in relation tothe financial statements andaccount ing systems and contro I s more effect i vely.The report shou I d a I so include,where re I evant,any act i ons thatmanagement has i nd i cated they wi I I take i
26、n re I at i on to recommendations made by the aud i tors.5、(b)Descr i be the skills that a counseI I or shouId possess.(14 marks)正确答案：(b)11 i s c I ear that many of the prob I ems at B ailey s that have I ed to the unhappy atmosphereI end themseIves to resolution through the neutraI and non-judgemen
27、taI approach offered by theappointment of external counsellors.The counsel lor must be in a position to help the individualempIoyee to identify problems,issues and possible solutions to the kind of problems that havemanifested themseIves at B ailey s:poor production,unrest,low morale and significant
28、ly,thelong tradition of poor pay that is leading to empIoyee fami Iy problems outside the factory.Thereis always the danger of leading the employee,so the counsel lor must adopt a passive role,showi nterest and encourage reflection wh i I st a I I ow i ng the emp I oyee to lead and talk around the i
29、 ssues.Open quest i ons must be used to he I p the emp I oyee exp I ore i deas and fee I i ngs.The counsel lor mustbe an act i ve I i stener,speak i ng on I y to clarify i ssues and e I i c i t answers when appropr i ate.A boveall,the counsel lor must be impartial and this i s why B ailey s has appo
30、inted outside counsel lors.C ounseI Iing skills requ i re the ability to estab Ii sh rapport with the empIoyee,to clarify andsummar i se as appropr i ate,to ask non-spec i f i c quest i ons,use a non-d i rect i ve approach,to I i stenand be able to discern what is meant by what the employee says.In
31、addition,the counsel lor mustallow the empIoyee to be s iI ent if he or she wishes to be,to allow any meet i ng to take pI aceat the speed of the emp I oyee and ant i c i pate the emp I oyeeJ s v i ews on the causes,wh i ch at B a i I ey,s are many,and to allow so Iut i ons to the prob Iems.6、2(a)Ex
32、p lain the term backflush account i ng5 and the c i rcumstances in which its use wouldbe appropr i ate.(6 marks)正确答案：(a)B ackflush accounting focuses upon output of an organisation and then works backwards whenal locating costs between costof goods sold and inventor ies.It can be argued that backflu
33、sh account i ng simp I ifies costingsinee it ignores both labour var iances and work-in-progress.Whi 1st in a perfect just-in-time envi ronment there would beno work-in-progress at all,therewi I I in practice be a smaI I amount of work-in-progress in the system at any point in time.Thisamount,howeve
34、r,is likely tobe neg I igible i n quant i ty and therefore not s i gn i f i cant i n terms of vaIue.Thus,a backfIushaccount i ng system s imp Ii f i es thelaccounting records by avoiding the need to fol Iow the movement of materials and work-in-progressthrough the manufactur ingprocess within the or
35、ganisation.IThe backflush accounting system i s likely to involve the ma i ntenance of a raw materials andwork-in-progress accounttogether with a finished goods account.The use of standard costs and var iances i s I ikely tobe i ncorporated i nto theaccount i ng entr i es.T ransfers from raw mater i
36、 a I s and work-i n-progress account to f i n i shed goods(or cost of saIes)wi I I probabIybe made at standard cost.The d ifference between the actuaI i nputs and the standard chargesfrom the raw mater i a Is and work-in-progress account wi I I be recorded as a residuaI var iance,which will be recor
37、ded inthe profit and loss account.Thus,it is essential that standard costs are a good surrogate for actuaI costs if large variancesare to be avoided.B ackflushaccounting is ideally suited to a just-in-time phi losophy and is empIoyed where the overaI Ieye Ie t ime i s relatively short and inventory
38、levels are low.Naturally,management will still be eager to ascertain the cause ofany var i ances that ar i se from the i neff i c i ent usage of mater i a I s,labour and overhead.However investigations are far more I ikelyto be undertaken us i ng nonf i nanc i a Iperformance indicators as opposed to
39、 detai led cost variances.7、(b)C ompute G loria,s total income tax and nationaI insurance liability for 2006/07.(7 marks)正确答案：(b)Income tax and national insurance liability for 2006/07Income tax liabilityTrading income(W l)32.434Retirement pension 4,300Bank interest(13.500 x 100/80)16,875Statutory t
40、txal income 53,609Personal age allowance(4,895)Taxable income 48.7142.090 x 10%20929.749 x 22%6,545561 x 20%11216.314x40%6.526Income tax liability 13,392Tutorial noteThe phonal age alkywance d abated to the standard pefwnal allowance due to the level of G/oras statiftory total income.Workings(1)Trad
41、ing incomePeriod ending 28 Fetxuary 2007 11,500Profit on closing stock(8.300 x 5/105)395Capital allowances(W2)(2.986)8,909Year ended 31 October 2006 39,245Less：Overlap profits(15,720)32,434 Capital allowancesPoolVanAllowanceslax written down value brought forward4.0504,130Addition820Less.Disposal pr
42、oceeds(1.400)(4.700)3.470570Balancing allowance(3.470)3.470Balancing charge x 85%(570)(484)2.986National insurance liability Gloria has no Class 2 or Class 4 national insurance contributions liability as she was more than 60 years old on 6 April 2006.8、(b)C a I cu I ate the i nterna I rate of return
43、 of the proposed i nvestment and comment on your f i nd i ngs.(5 marks)正确答案：(b)Calculation of IRR of*FingoF investment projectYear 1234000000000000Net cash flow 61318712785Discount at 20%0-8330-6940-5790-482Present values 510-6129873-5410000Present value of future benefits754-9Initial investment8000
44、Net present value(451)Internal rate of return=10+(2010)x 65-2)/(65-2+454)1=16%Since the internal rate of return is greater than the discount rate used to appraise new investments,the proposed investmentis financially acceptable.9、(c)MaxweI I C o is audited by Lead C o,a firm of C hartered C ertified
45、 A ccountants.Leo Sabathas enqu i red as towhether your fi rm would be prepared to conduct a joint audit in cooperat ion with Lead C o,on the futurefinancial statements of MaxweI I C o if the acquisition goes ahead.Leo Sabat thinks that thiswould enable yourfi rm to improve group audit efficiency,wi
46、thout losing the cumuI at i ve exper i ence that LeadC o has built up whileacting as auditor to MaxweI I C o.Requ i red:Def ine 4joint audit,and assess the advantages and disadvantages of the audit of MaxweI IC o be i ng conductedon a 1 joint basis.(7 marks)正确答案：(c)A jo i nt audit i s when two or mo
47、re aud i t f i rms are jointly respons i b I e for giving the auditop i n i on.Th i s i s very common i n agroup situation where the principal auditor is appointed jointly with the auditor of a subsidiaryto provide a joint opinion onthe subsidiary,s financial statements.There are several advantages
48、and disadvantages in ajoint audit being performed.A dvantages It can be benef i c i a I i n terms of aud i t eff i c i ency for a joint audit to be conducted,especial lyi n the case of a new subs i d i ary.In th i s case,Lead C o wi I I have built up an understanding of Maxwe I I C o s business,syst
49、emsand controls,and financial statement issues.It wi I I be time efficient for the two firms of auditors to work together inorder for C hien C o to build up knowledge of the new subsidiary.This is a key issue,as C hien C o need to acqui re a thoroughunderstanding of the subs id i ary i n order to as
50、sess any r i sks i nherent i n the company whi ch cou Id impact on the overal Iassessment of r i sk withinOthe group.Lead Co w ill be able to provide a good insight into the company,and advise ChienCo of the key r i sk areasthey have previously identified.On the practical side,it seems that Max we I