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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入得分1、(b)(i)Exp lain,by reference to Cora IJ s residence,ordinary residence and domici I e position,how the rentaIi ncome arising i n respect of the property i n the country of K a I ani a will be taxed i n the UKi n the tax year2007/08.State the
2、strategy that Cora I shouI d adopt i n order to minimise the totaI i ncometax sufferedon the rentaI i ncome.(7 marks)正确答案：(b)(i)UK tax on the rentaI incomeI Cora I i s UK resident in 2007/08 because she i s present i n the UK for more than 182 days.Accordingly,she wi I I beI I subject to UK i ncome
3、tax on her K alani an rentaI i ncome.I Cora I i s ordinar i ly resident i n the UK i n 2007/08 as she i s habitually resident in the UK.I Cora I will hav e acqui red a domici I e of origin in K alani a from her father.She has not acqui reda domiciI e of choice in theUK as she has not sev ered her t
4、i es with K a I an i a and does not i ntend to make her permanent homei n the UK.Accord i ng I yf the rentaI i ncome wi I I be taxed i n the UK on the remittance bas i s.Any rentaI i ncome remitted to the UK wiI I fa I I into the basic rate band and wi I I be sub jectto i ncome tax at 22%on thegross
5、 amount(before deduction of K alani an tax).Uni lateral double tax re I ief wi I I be av ai I ablei n respect of the 8%tax suffered in K alani a such that the effect i v e rate of tax suffered by Cora I in the UK on the grossedup amount of i ncome remitted wi I I be 14%.I n order to minimise the tot
6、aI i ncome tax suffered on the rentaI i ncome Cora I shouI d ensurethat it is not brought into or used in the UK such that it wi I I not be subject to income tax in the UK.Coral should retain ev idence,for example bank statements,to show that the rentaI income hasnot been remov ed fromK a I an i a.C
7、ora I can use the money wh i I st she i s on ho I i day i n K a I an i a with no UK tax imp I i cat ions.2、(i i i)assesses TSC i n terms of f i nanc ia I performance,compel i t i v eness,serv ice qua I ity,resourceut i I i sat i on,flexibiI ity and innov ation and discusses the interrelationships be
8、tween these terms,incorporatingexamp I es from within TSC;and(10 marks)正确答案：(i i i)The terms I i sted may be seen as representat i v e of the d imens i ons of performance.Thedimensions may be ana I ysed into resuI ts and determinants.The results may be measured by focus i ng on f i nanc i a I perfor
9、mance and compet i t i v eness.Fi nanc i a Iperformance maybe measured in terms of rev enue and prof it as shown in the data in the appendix of the questioni n respect of TSC.The points system in part(a)of the answer shows which depots hav e achiev ed or exceeded the targetset.I n addition,i I iquid
10、ity is another aspect of the measurement of financial performance.The points totaI inpart(a)showed thatI iL eonardotown and MichaeI angeI otown depots appear to hav e the best current record in aspectsof credit control.15Compet i t i v eness may be measured i n terms of saI es growth but a I so i n
11、terms of market share,number of newcustomers,etc.I n the TSC statistics av ai I abI e in(a)we only hav e data for the current quarter.Th i s shows that three ofthe four depots I i sted hav e achiev ed increased rev enue compared to target.The determinants are the factors which may be seen to contr i
12、bute to the achiev ement of the resuI ts.Qua I ity,resource ut i I i sat ion,f lexibi I ity and innov ation are cited by Fitzgerald and Moon as examples of factorsthat should contr ibute tothe ach i ev ement of the results i n terms of f i nanc i a I performance and compet i t i v eness.I n TSCa mai
13、n qua I ity i ssueappears to be customer care and serv ice deliv ery.The statistics in the points table in part(a)of the answer show thatthe R aphaeI town depot appears to hav e a major prob I em i n this area.I t has on I y ach i ev ed onepoint out of the sixav aiI able i n this particular segment
14、of the statistics.R esource ut i I i sat i on for TSC may be measured by the I ev e I of effect i v e use of dr i v ers and v eh icles.To some extent,this i s h i ghI i ghted by the stat i st i cs re I at i ng to customer care and serv ice de I i v ery.For examp I e,I ate co I I ect i on of cons i g
15、nmentsfrom customers may be caused by a shortage of v ehicles and/or dr i v ers.Such shortages couldbe due to staff turnov er,L is i ckness,etc or prob I ems with v ehicle ma i ntenance.Flexibi I i ty may be an i ssue.There may,for examp I e,be a prob I em with v eh i c I e av a i I ab i I i ty.Poss
16、ibly an increased focuson sources for short-term sub-contracting of v ehicles/collections/deliv eries might helpov ercome de I ay prob I ems.The*target v actuaI points system,may be seen as an example of innov ation by the company.This giv es a detai led setof measures that shouI d prov ide an incen
17、tiv e for improv ement at al I depots.The points systemmay i I I ustrate the extentof ach i ev ement/non-ach i ev ement of company strateg i es for success.For examp I e TSC may hav e acustomer carecommitment poI icy which identifies factors that shouI d be achiev ed on a continuing basis.Forexamp I
18、 e,timely col lection lof consignments,misdi rected consignments re-del iv ered at no extra charge,prompt responsesto customer claims andcompensat i on for customers.3、(i i)the di rectors agree to disclose the note.(4 marks)正确答案：(i i)I f the di rectors agree to disclose the note,it should be rev iew
19、ed by the auditors toensure that it is sufficiently detai I ed.I n ev aI uating the adequacy of the disciosure in the note,the auditor should consider whetherthe disciosure exp I i c i11ydraws the reader s attention to the possibi I ity that the entity may not be abI e to continueas a go i ng concer
20、n i n theforeseeabI e future.The note shouI d incI ude a descr iption of conditions giv ing r ise tosignificant doubt,and the di rectors,pI ans to deaI with the conditions.I f the note prov ided contains adequate information then therei s no breach of f i nanc i a I reporting standards,and so no dis
21、agreement with the di rectors.I f the disci osure i s cons i dered adequate,then the opinion shou I d not be qua I if ied.The aud i torsshould consider amod i f i cat i on by add i ng an emphas i s of matter paragraph to h i gh I i ght the ex i stence of the mater i a Iuncerta i nt i es,and todraw a
22、ttention to the note to the financial statements.The emphasis of matter paragraph shouldfi rstly contain a br iefdescr ipt ion of the uncertainties,and also refer explicitly to the note to the financialstatements where the situation hasbeen fully descr i bed.The emphas i s of matter paragraph shou I
23、 d re-iterate that the aud i t opinioni s not qua I i f i ed.Howev er,i t cou I d be the case that a note has been giv en i n the f i nanc i a I statements,but thatthe deta iI s are i nadequateHand do not fully exp lain the significant uncerta inties affect i ng the go i ng concern status ofthe comp
24、any.I n th i s s ituat i onthe auditors should express a qua I ified opinion,disagreeing with the preparation of thef i nanc i a I statements,as thedisclosure requi rements of I AS 1 hav e not been fol lowed.4、(c)Out I ine the problems with references.(7 marks)(15 marks)正确答案：Part(c)There can be s i
25、gn i f icant prob I ems with references,these i ncI ude the fact that most refereesare we I I known to the appI i cant and hesitate to say anyth i ng critical.Howev er,the more ski I ful reference reader I earns to I ookfor what is conspicuous by omissionla I though there i s always the r i sk that
26、the wr iter merely forgot.lOften there are glowing tr ibutes designed to aid the candidate on thei r way and some can betoo ambiguous to be useful.I I I t is also important to note that references are poor predictors of future performance,aretime consuming for the referee and theI I subsequent reade
27、r.A particular problem i s that employers who want to r i d themselv es ofunsat isfactory empI oyees could wr i te anenthus i ast i c reference,or at best one wh i ch I eav es a lot unsa i d.Howev er,care shouI d be taken when prov iding references.Potent ia I ly,there can be I egaIconsequences if a
28、 reference is misI eadingor mi srepresents the person for whom the reference i s prov ided.I n add it i ont prob I ems can ar i se when references are sought too ear I y i n the recru i tment processand therefore breach confidentiality.5、(c)Assuming that J oanne registers for v aI ue added tax(VAT)w
29、ith effect from 1 Apr i I 2006:(i)Calculate her income tax(I T)and capital gains tax(CGT)payable for the year of assessment2005/06.You are not requi red to calculate any nat ionaI insurance liabilities in this sub-part.(6marks)正确答案：(c)(i)Income tax calculation for the tax year 2005/06NotesEmployment
30、 income(1)25.000Schedule D Case I income(2)5,305Sututory total income 30,305Less：personal allowance(4.745)Taxable income 25,560Income tax thereon：2.020 x 10%20223.540 x 22%5.17925.560 5,38 1Less：paid unde PAYE(4.200)1.38 1Notes(1)The payment made to Joanne for the notice period will be taxable as it
31、 dGrrves from her contract of emptoyment.(2)Joannas first accounting period is the four months to 31 March 2006.Hec basis period is 1 December 2005 to5 April 2006.Joannas Schedule D Case I income for the year includes VAT on all costs,and is calculated asfollows：Income(2.000 3.000 十 4.000+5.000)14,0
32、00Expenses(5.8 75 十(4 x 400 x 1 175)(7.755)Capital allowances：FYA(2.350 x 40%)(940)5.305The tax written down value at 31 March 2006 is 1,410.As Joanne is not paying higher rate tax for the year,the first 5.8 40 of any taxable gains will be taxed initially at 20%.The capital gains calculation is ther
33、efore：Note Proceeds 21.500Less cost(3.500)Unindexed gain 18,000Indexation：162-6-98 3/98 3(1)(2.28 9)15,711Gains after taper relief at 30%(non-txisiness asset/8 years(7 years-bonus)10.998Less,annual exemption(8.200)Taxable gain 2.798Capital gains tax at 20%5606、5 An enterpr i se has made a mater ial
34、change to an accounting pol icy in prepar ing its currentf i nanc i a I statements.Which of the fol lowing disciosures are requi red by I AS 8 Account ing polic ies,changes inaccounting estimatesand errors i n these f i nanc i a I statements?1 The reasons for the change.2 The amount of the consequen
35、t adjustment in the current period and in comparativ e informationfor prior per iods.3 An estimate of the effect of the change on future per iods,where possibI e.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
36、i nc I udes a theme park,a cas i noand a golf course,as we I I as a hote I.The theme park,cas i no,and hote I were sold in the year ended 31 May 2008to Conquest,apub I ic I imi ted company,for$200 million but the sale agreement stated that Norman wouldcont i nue to operateand manage the three bus i
37、nesses for the i r rema i n i ng usefuI I ife of 15 years.The res i duaIi nterest i n the bus i nessrev erts back to Norman after the 15 year per i od.Norman wouI d rece i v e 75%of the net profitof the bus i nessesas operator fees and Conquest wouI d receiv e the remai ni ng 25%.Norman has guarante
38、ed toConquest that thenet mini mum profit pa i d to Conquest would not be less than$15 million.(4 marks)Norman has recently started i ssu i ng v ouchers to customers when they stay in its hotels.Thev ouchers ent i 11e thecustomers to a$30 discount on a subsequent room booking within three months of
39、thei r stay.Historicalexper ience has shown that only one in fiv e v ouchers are redeemed by the customer.At thecompany,s year endof 31 May 2008,it is estimated that there are v ouchers worth$20 mi I I ion which are eI igibI efor d i scount.Theincome from room saI es for the year is$300 million and
40、Norman is unsure how to report thei ncome from roomsaI es i n the f i nanc i a I statements.(4 marks)Norman has obtained a significant amount of grant income for the dev eI opment of hoteI s inEurope.The grantshav e been receiv ed from gov ernment bodies and relate to the size of the hotel which has
41、 beenbuilt by the grantassistance.The intention of the grant income was to create jobs in areas where there wass i gn i f i cantunempI oyment.The grants recei v ed of$70 mi I I ion wi I I hav e to be repaid if the cost of bui I dingthe hoteI s i s I essthan$500 mi I I ion.(4 marks)Appropr i ateness
42、and qua I ity of discussion(2 marks)R equi red:D i scuss how the abov e i ncome wouI d be treated i n the f i nanci a I statements of Norman for theyear ended31 May 2008.正确答案：(b)Property i s sometimes so Id with a degree of cont i nu i ng i nvoIvement by the seI I er so thatthe r i sks and rewards o
43、f ownersh i pOhave not been transferred.The nature and extent of the buyer,s invoIvement wi I I determinehow the transaction is accounted fo r.The substance of the transaction is determined by looking at the transaction as a wholeand IAS18 Revenue requ i res th is by stating that where two or more t
44、ransactions are I inked,they should be treated as asingle transaction in order tounderstand the commercial effect(IAS18 paragraph 13).In the case of the sale of the hotel,theme park and cas i no,Norman shouId not recogn i se a saIe as the company cont i nues to enjoy substant i a I Iy a I I of the r
45、 i sksand rewards of the bus i nesses,and s t ill operates and manages them.Additional ly the res i dua I i nterest i n the bus i ness revertsback to Norman.Also Norman has guaranteed the i ncome I eve I for the purchaser as the mini m um payment to Conquest wi I I be$15 m illion a year.Thetransacti
46、on is in substance a financing arrangement and the proceeds should be treated as aloan and the payment of p ro fitsas interest.IThe principles of IAS18 and IFRIC13 Customer Loyalty Programmes5 requi re that revenue i nrespect of each separatecomponent of a transact ion is measured at its fa i r vaIu
47、e.Where vouchers are i ssued as partof a saIes transact ion and are redeemabIe against future purchases,revenue should be reported at the amount of thecons i derat i on rece i ved/rece i vabIe I essthe voucher,s fa ir vaIue.In substance,the customer is purchasing both goods or services anda voucher.
48、The fa i r vaIue of the voucher is determined by reference to the value to the holder and not the cost to the issuer.Factors to be taken i nto accountwhen estimating the fai r value,would be the discount the customer obtains,the percentage ofvouchers that would be redeemed,and the time value of mone
49、y.As only one in five vouchers are redeemed,then effect i ve I ythe hotel has sold goodsworth($300+$4)mi I I i on,i.e.$304 m illion for a cons i derat i on of$300 m illion.Thus a I I ocat i ngthe d i scount between thetwo elements would mean that(300-r 304 x$300m)i.e.$296,1 m illio n w ill be al loc
50、ated tothe room sales and the balance of$3,9 mi I I ion to the vouchers.The deferred portion of the proceeds is only recognised whenthe obI igations are fu lfi I led.The recognition of government grants is covered by IAS20 Accounting for government grantsand disciosure of government assistance,.The