ACCA P2 Key to success

Key to the exercisesUnit OnePart One Reading TextⅠ. 1.Y 2. N 3.NG 4.Y 5. N 6.Y 7. N8. enjoy, relaxed educational9. creativity10. encourage students participationⅡ. BCBADⅢ. 1. D 2. I 3. J 4. O 5. G 6. N 7. C 8. L 9. M 10. EⅣ. 1. When permission was sought from senior management.2. They are skeptical that anything other than surface transformation is taking place.3. College entrance exam.4. The weight given to testing is regularly criticized.5. Memorization and rote learning.Ⅴ. 1. grow anxious2. taking the initiative3. a series of4. resulted in5. underlyingPart Two Reading Skills1. c-a-d-b2. b-a-d-c3.a-d-b-c4. a-d-e-b-c5. a-e-c-f-b-dPart Three Reading PracticePassage 1 CDBDAPassage 2 D ABBCPassage 3 A B CBDPart Four Home ReadingⅠ. 1. N 2. N 3. NG 4.Y 5.NG 6. N 7. Y8. originally expected9. attaining the same standards10. continuing professional educationⅡ. CDADCⅢ.1. has come to an end2. the knowledge and abilities of graduates applying for jobs3. bring about social reform4. learn best by rote5. our new opportunities for diversityIV. 1. 1. More than 93 percent of young people2. By adopting entrance examinations.3.The demand for education, especially the advanced professional education, is going up.4. Almost all children.5.This enables students and their parents to choose between alternative routes to learningoffered by competing schools.Unit TwoReading textⅠ. 1.Y 2. N 3. N 4. Y 5. NG 6. Y 7. N8. exhausted9. patterned after10. the experiences on the Morning NewsⅡ.DDCBBⅢ. 1.K 2. O 3. C 4. J 5. B 6. D 7. G 8. F 9. L 10. IⅣ. 1. Because she had just started a business successfully.2. He felt exhausted .3. The style of the show can’t draw the audience’s attention.4. Whoever gets Walter’s job, he will never devastated .5. Sometimes, a big promotion can’t bring happiness for family.Ⅴ. 1. was coming into my own2. occurred to me3. focusing on4.came over me5. stagger awayReading Skills1.A2.C3.C4.AReading PracticePassage 11.C2.D3.C4.A5.BPassage 21.D2.B3.C4.A5.CPassage 31.B2.D3.C4.A5.AHome ReadingⅠ. 1. N 2. Y 3. NG 4. Y 5. N 6. N 7. Y8. made my way out of9. successful10. valueⅡ. ABCDDⅢ.1.She was a school teacher.2.She decided to see her grandmother.3.In 1993.4.Because the fabric was full of memories, her grandma would turn into something new oneday.5.Because her husband could continue his education .IV.1. match my expectations of myself2. threaded its way3. faded away4. thought of5. meant toUnit ThreePart OneI. 1. N 2.N 3.N 4.Y 5.N 6.Y 7.NG8. puddling9. run out10. explanationsII. DABADIII 1.L 2.A 3.O 4.I 5.K 6.G 7.D 8.C 9.B 10.HIV. 1. She thought his father might like to play with them too.2. Because he threw away her affections towards him..3. You have things to play with, more important, you may associate them with your children4. He made them clean and tidy.5. The feelings and the fantastic world of Molly.V. 1.cram 2.unfolded 3.run out 4.hold 5.turned his attentionPart ThreeI. C B B D AII A D DA BIII A A DCDPart FourI. 1.N 2.N 3.Y 4.Y 5.NG 6.Y 7.N8. in trouble9. inner voice, mediate, pray10. actions, actions, wordsII. D A D D DIII.1.He used to lay around the tree, climb to the top of it, ate the apples, and take a nap under the shadow.2.Because he grew up and wanted to play toys.3.Because he did not have money to buy toys.4.He wanted to go sailing to relax himself. But he did not have a boat.5.(open answer)IV.1.from chopping off trees2. come and play with me3. show up4. leaned happily on5. come sit down with me and restUnit FourPart 1I. 1. Y 2. Y 3. Y 4. NG 5. N 6. N 7. Y8. full-time student; part-time worker9. critical need10. put a spot lightII. BACCAIII. 1. J; 2. D; 3. F ; 4. C ; 5. H ; 6. G; 7. A ; 8. N; 9. K ; 10. IIV．1．Social entertainment, cultural communication and positive social change.2. They share similar ethnic backgrounds.3. To dedicate the time and effort to the e-magazines.4. That there is more than one definition of success.5. Four.V 1. has been interesting to him2. Your idea will become reality.3. Even though / though / although they held different views / standpoints4. features / featured largely in her life5. aimed the camera at the picturePart 21. D;2.C;3.A;4.C5. TF6. FT7. FT8. FT9. T; 10. T; 11.T; 12. T; 13. F T T T T14. C; 15. BPart 3Passage 1 CADCDPassage 2 ADDBAPassage 3 DDDDDPart 4I. 1. N 2. Y 3. N 4. N 5. Y 6. NG 7. N8. fun and surprisingly addictive9. the latest Xbox 36010. bright and shinyII. DADBAIII.1. Two to three hours.2. Because she wanted to work through her grief.3. In websites that meld functions of the chat room, games and other services.4. By telephone.5. The Internet generation.IV.1．It was not until her third visit2. your future earnings will be considerable3. despite your achievements4. take advantage of all educational opportunities5. solving / working out the difficult questionTest OnePart I Vocabulary1-5 CDBDB 6-10 DACCD 11-15 CBBBA 16-20 DCBDC 21-25 ABCDD26-30 BAACD 31-35 CDBDA 36-40 ACCCDPart II Reading ComprehensionPassage One DCBAB Passage Two CACBAPassage Three CCCDA Passage Four DCBCAPart III Cloze1-5 C B A A D 6-10 B A A C D 11-15 A D A D C 16-20 D A B D BPart IV Translation1.master their tradition2.hold firm to his folksy habits3.divided loyalties4.their teeth to be ruined5.judge by appearances6.varies with supply and demand7.talk away in the background8.the strength of a body builder.9.sink into the chair10.a more moderate accommodation that balances economic against health concernsPart V WritingSelecting CoursesRecently, people in growing numbers show their concern about selecting courses. In some colleges, students are permitted to pick out their course’s professors freely. The reasons are listed as follows:In the first place, students can choose the teacher according to their interests, which will be helpful for their future careers. Besides, selecting courses can reduce the rate of students’ absence indirectly for students usually choose their favorite teachers.As far as I am concerned, every coin has two sides. On the one hand, students may learn the course better, because they may choose the professor they liked. On the other hand, if the professor who is very popular and a great number of students would like to attend his/her course, the classroom must be overcrowded. It will have a bad impact on the class.Unit FivePart II. 1. Y 2. NG 3. N 4. N 5. N, 6. Y, 7. Y 8. shocked 9. therapy 10. 24II. DCABDIII. 1. O; 2. I; 3. M ; 4. K ; 5. C ; 6. F; 7. E ; 8. G; 9. N ; 10. AIV．1. On the outside I was a healthy, athletic student, but on the inside I was just another statistic of aviolent crime.2. When the police arrived they immediately called the homicide division as they did not think Iwould survive and the paramedic reported that she had never seen a person so severely wounded survive.3. I am a very determined and stubborn person and he believes that someday he would return tocollege.4. Through Tom I learned: “Nothing is impossible and never, never give up or quit.”5. Living each day to the fullest, and doing the very best one can, then nothing is impossible.V. 1.fulfill their dream 2. wonder why 3. was awakened by4. for fear that5. look forward toPart Two1.Denotation: carry out a duty; act or showConnotation(s): work or operate2.Denotation: succeed in doing; run or take charge ofConnotation(s): control3.Denotation: points or facts about somethingConnotation(s): unimportant small points4.Denotation: break up by explosionsConnotation(s): rise into the air like a rocket that leaves the ground. The word give you a sense of quickness and forcefulness, for the plane is compared to a rocket leaving the ground or, as you read in the next part of the sentence, to a bullet shot out of a rifle.5.Denotation: beatingConnotation(s): violently rocking me from side to side and making me uncomfortable. It gives one sense of uneasiness and uncomfotableness.Part Three.CACCA BDBADPart FourI. 1.Y 2.N 3. N 4.NG 5.Y 6.N 7. Y 8. dismissed9. hostile 10. interferedII. ACDBBIII Answer:1.Because I was an inexperienced new comer.2.She took hostile action towards me.3.After reading the sentence, I knew that I had to take control of my life and stop blaming myprincipal. I couldn't control her behavior, but I could control my reactions to it.4.I learned that bullies are usually cowards who act upon their fears and insecurities. I alsolearned non-confrontational phrases to use in conversation,5.The author got a valuable lesson and learned that he would never again allow himself to be avictim.Unit SixPart One Reading TextI. 1. N 2. Y 3. N 4. Y 5.NY 6. N 7. Y8. different9. 30-5010. foodII. DBCCAIII. 1. C; 2. H; 3. M ; 4. F ; 5. N ; 6. L; 7. K ; 8. I; 9. E ; 10. BIV. 1. Because they lack employment opportunities.2. The level of education.3. Those are not born in Sweden.4. Marital status.5. Classical entrepreneurial incentives.V．1. share2. As mentioned/ indicated3. have an influence4. drew a conclusion5. survival ratePart Two Reading Skills1. A.Yes. The mother's reply is not very polite, even with the informal register. This is correct, because the mother is showing that she is annoyed by the child giving a request as an instruction.2. A.Yes. Here the guest might have been indirectly asking a drink, so the host offers some orange juice, but also does it rather indirectly, in case the guest was really just discussing the weather.3. B.No. Miss Wilson has given an order to a stranger, and this is not polite, even with "please" at the end. The reply should be more like "Could I have it back when you are finished, please?"4. A.Yes This is more common with children than adults. However, it is sometimes used as a joke when a person wants to beg for something unimportant (like a sweet) from a friend.5. A.Yes. Mrs Greene is not really giving an instruction, she is saying that she hopes Mr Cooper willl enjoy himself. In the same way, many people in the United States use "Have a nice day."6. A.Yes. Harry is being very polite, but he is saying that he will not do what the boss wants, because it is not possible to do it. He gives his refusal as a statement, so that it causes minimum offence. Harry should now explain why it is not possible .7. A.Yes. The mother has used the second part of a conditional sentence. The child understands that the first part (which was not spoken) is "Yes, you can play with Jenny ...."8. B.No. Joe's reply is too comprehensive, and it uses too many of Mikes words. All that is required is an a positive acknowledgement of the instruction/request; so use, "sure", or "ok", (for yes) or "hold on", "now now" (for no).9. A.Yes. The policeman does not really want to know if Jack can show him some identification,he wants to see the identification. So Jack gives him the identification, using "here you are" - an expression used when giving something.10. B.No. "Do you mind .." means "will you be upset..". Mr Bloggs' answer does not show whether he is answering Sally's question ("Will you be angry if I smoke?" - "Yes, I will") or the intention behind Sally's question. (That is: "Can I smoke?" - "Yes, of course")11. A.Yes. Karen is asking the question because she wants to read the William's paper. William uses a more informal register to show he is friendly ("Sure" is sometimes an informal way to say "yes"), and he adds "Go ahead" ("Go on and read it.")12. B.No Well, probably not. Joey's invitation is very casual (Notice the missing auxiliary "do"). Mary's answer is formal, and says "thank you" in three different ways. Joey will probably understand that Mary is being sarcastic.13. A.Yes. The instruction is really an informal invitation. "Ta" is a very informal way of saying "thank you" when you are given or offered something unimportant.14. B.No. It is not polite to refuse a formal request with a direct negative ("No".), even if you give the reason afterward. Instead, Mr Blake should say something like "Well, actually, it's very cold outside."15. A.Yes. Mr Williams is asking Tony to turn down his radio. Tony apologises for disturbing Mr Wilson, and says he (and his radio) will go away.16. B.No. The use of "Again?" shows he thinks he has heard enough. "Oh, all right then" is a way of indicating that the speaker will do as asked, but not enthusiastically.Part Three Reading PracticePassage 1DCBDAPassage 2CABCAPassage 3 DCACBPart Four Home ReadingI. 1. NG 2. N 3. N 4. Y 5. Y 6. N 7. N8. third9. social psychology10. motherhoodII.ABBBDIII. 1. Nearly 70 students.2. 2.Defining success.3. 3.After her mother lost a job.4. 4.She was stuck with terror.5. The notion of motherhood.IV. 1. double standard2. No stranger to success3. transition from one channel to anther4. Hosted by5. from cover to coverUnit SevernPart OneI. 1. NG 2. Y 3. N 4. Y 5. Y 6. N 7. Y8. turning nouns into verbs or verbs and nouns into adjectives9. the over-heated language of much of the media10. social status within societyII. ACADBIII. 1I 2 L 3 A 4C 5G 6K 7O 8E 9M 10BIV. 1. Yes, I did.2. I felt I could do better.3. They introduced new words into the American tongue.4. British speech is less general.5. American English casually uses one form of words for another.V. 1. participate in the discussion2. cope with the difficulties3. expose children to violence4. introduced into5. on both sides of the riverPart Two Reading SkillsddaefecfbcPart Three Reading PracticePassage 1 DBCDAPassage 2 BDDACPassage 3 CDBCDPart Four Home ReadingI. 1. Y 2Y 3 N 4 N 5 Y 6 Y 7 NG8. accustomed9.predicated10. encounterⅡ. DCBBAⅢ . 1. He wanted to find a public telephone to call his friend.2. The meaning of “wash up” is “to wash your hands”..3. Because people sound different in every part of the United States.4. By the end of the 14th century, about half of the English words were introduced by theFrench.5. Because they wanted to sound particularly well-educated.Unit EightPart One Reading TextI.1N 2. NG 3.N 4.N 5.Y 6.Y 7.N8. the sustainable development9 decreased noticeably in Tibet10. nature reservesⅡ. CDDABⅢ. 1. H 2.J 3. K 4. C 5. D 6. A 7. I 8. F 9. B 10. MIV. 1. The "Roof of the World”.2. The Tibet Autonomous Region is 1.22 million sq. km.3. Ecological improvement and environmental protection in Tibet.4. A project to restore farmland to forest is being undertaken.5. 70 nature reserves.V. 1. didn’t attach any importance to his statement2. taken a succession of measures3. in line with the principle of national independence.4. a weighty bearing on5. accounting for about 80% of the earth’s total number of black-necked cranes.Part Two Reading Skills1. Y2. N3. N4. Y5. N6. N7. Y8. N9. Y 10. NPart Three Reading PracticePassage 1 CABCAPassage 2 BDCBAPassage 3 DABDCPart Four Home ReadingI 1.N 2.N 3 .N 4.N 5.Y 6..NG 7.Y8. at ar m’s length distance9. exposure to10. check on its originII DADCDIII. 1. Because he had been inhaling unnecessarily high concentrations of radon.2. He ate some healthy” food for breakfast.3. He inclined his head at an unnatural angle when driving.4. He learned that both decaffeinated and ordinary coffee were harmful.5. He doubted about the origin of the fish for lunch.IV.1. occur to2. composed of3. at the risk of his own4. wanders through5. point outTest TwoPart I Vocabulary1-5 ACCDA 6-10 BCACA 11-15 ACDBB 16-20 CDABB 21-25 ADCCD26-30 AABBC 31-35 CACAA 36-40 BCBDBPart II Reading ComprehensionPassage 1 CCDAD Passage 2 CCCDA Passage 3 ABCDB Passage 4 CCDAC Part III Cloze1-5 CABBA 6-10 CDCDC 11-15 DDBBA 16-20 DCBACPart IV Translation1.in dilemma2.face up to the fact3.evolved from4.be exposed to air5.associated happiness with money6.gets accustom to7.take this opportunity to thank8.appeal to youmit suicidement on the election resultsPart V WritingSave the Wild AnimalsMany wild animals are facing the danger of extinction, because the environment that they are living in has changed greatly. For example, with the developmet of cities, the using of insecticide and serious pollution, their living areas have become narrowcr and narrower. Many of the wild animals, now are confronted with food crisis. At the same time, man is killing off species just for getting their fur, skin, horns, teeth and meat.In order to protect our resources of ecology, people should realize that the loss of any species is at least the loss of source of knowledge and a source of natural beauty. There fore, measures of the following should be taken: pollution standards are made to keepdown poisons; killing off certain rare species is prohibited; national parks should be set up as wild life, reserves.Only if we human beings take some drastic measures can wild animals be preserved.。

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。

Course Notes 2016 Exams September 15 – June 17 ACCAPaper F2 - 双语讲义Management Accounting管理会计Tutor details2 Intro ductio n ACCA F 2No part of this publication may be reproduced, stored in a retrieval systemor transmitted, in any form or by any means, electronic, mechanical,photocopying, recording or otherwise, without the prior written permissionof First Intuition Publishing Ltd.Any unauthorised reproduction or distribution in any form is strictlyprohibited as breach of copyright and may be punishable by law.© First Intuition Publishing Ltd, 2015ACCA F 2Intro ductio n 3ContentsPageIntroduction 1Contents 31Course structure 52Course materials 53Qualification structure 64The exam 65Question types 76Exam tips 77How to study F2 88Study planner 91: Nature, source and purpose of management information 131Accounting for management 132Sources of data 153Cost classification 174Presenting information 262: Cost accounting techniques 331Accounting for material, labour and overheads 332Absorption and marginal costing 533Cost accounting methods 574Alternative cost accounting 703: Budgeting 751Nature and purpose of budgeting 752Statistical techniques 773Budget preparation 904Flexible budgets 975Capital budgeting and discounted cash flows 986Budgetary control and reporting 1107Behavioural aspects of budgeting 1134: Standard costing 1171Standard costing systems 1172Variance calculations and analysis 1183Reconciliation of budgeted and actual profit 1265: Performance measurement 1291Performance measurement overview 1292Performance measurement – application 1313Cost reductions and value enhancement 1414Monitoring performance and reporting 1424 Intro ductio n ACCA F 2Solutions to lecture examples 145Chapter 1 145 Chapter 2 146 Chapter 3 156 Chapter 4 164 Chapter 5 167Formulae sheets 169ACCA F 2Intro ductio n 5 1Course structureHome Study Introduction – How to Study F2To get off to the best possible start, we recommend you contact your tutor once you have receivedyour study materials. Your tutor will explain how to tackle your studies and get you started on yourfirst Study Session.If you prefer to get started straight away you should read “How to Study F2” below.Study sessionsThis study guide breaks down the syllabus into manageable study sessions, following the syllabus, andnumbered in accordance with the chapters in the Study notes. We tell you which chapters to read, andthen which questions to attempt from the Question Bank.It is not enough just to read the study notes. You must practise questions from the Question Bank asrecommended in each study session. The questions in the Question Bank are the same style as thosein the real exam and will give you exposure to all the possible pitfalls.It is better to attempt them as you go along, when the subject matter is fresh in your mind. You shouldcheck your answers with the answers and make sure you understand the suggested answer for anyquestions you get wrong.Revision sessionsWhen you have completed all the study sessions you should spend some time revising the core topicsWhen you are getting most of these right you are ready to attempt the Mock exam. If at all possibleyou should attempt this under real exam conditions, i.e. to the correct time and with no distractions.You can always come and sit your exam at First Intuition – just call your tutor to arrange a convenienttime.When you have completed the Mock you should check your answers. Make a note of any you getwrong and look at the model solution where given. If you still have any problems call your tutor orcome and see us for some final advice. If you score at least 60% in the Mock then you should be readyto take the real exam.2Course materialsYou will receive the following:First Intuition study notesFirst Intuition Question BankPasscards*Online Study Text (in conjunction with Kaplan EN-Gage)*produced by BPP Learning Media6 Intro ductio n ACCA F 23Qualification structureThe ACCA qualification is structured as follows.Fundamentals Level Knowledge Module F1 AB The Accountant in Business F2 MA Management Accounting F3 FA Financial AccountingFundamentals Level Skills Module F4 CL Corporate LawF5 PM Performance ManagementF6 TX TaxationF7 FR Financial ReportingF8 AA Audit & AssuranceF9 FM Financial Management Professional Level Essentials Module P1 PA Professional AccountantP2 CR Corporate ReportingP3 BA Business AnalysisProfessional Level Options Module (any two of these papers) P4 AFM Advanced Financial ManagementP5 APM Advanced Performance Management P6 ATX Advanced TaxationP7 AAA Advanced Audit & AssuranceAll papers are compulsory unless you gain exemptions from a relevant qualification. The modules must be attempted in the correct order, though you can sit the papers in any order. A maximum of fourpapers can be taken in any one exam sitting. Exams are in June and December each year. TheKnowledge Module subjects are examined by computer-based assessment and can be attempted atany time.4The examF2 is a two-hour computer-based or paper based examination.The paper is in two sectionsSection A contains 35 objective test questions. Each question is worth 2 marks (70 marks intotal)Section B contains 3 multi-task questions. Each question is worth 10 marks (30 marks in t otal).Multi task questions are a new question type which is being introduced in 2014. This newquestion type is explained more fully below.All questions are compulsory.The paper has a pass mark of 50%.ACCA F 2Intro ductio n 75 Question typesThe F2 exam consists of the following types of question: Objective test (OT) –These are single, short, automatically marked questions.Multiple task questions (MTQ) – These questions contain a series of tasks which relate t o one or more scenarios.The types of question that may be included are as follows:OT MTQMultiple Choice You are required to choose one answer from a list of options by clicking on the appropriate radio buttonMultiple Response You are required to select more than one response from the options provided by clicking the appropriate tick boxes Multiple Response Matching You are required to select a response to a number of related statements by clicking on the radio button whichcorresponds to the appropriate response for each statement Number Entry You are required to key in a numerical response to the questionGapfill You are required to enter answers into blank areas Hot SpotYou are required to choose one or more answers by clicking on the appropriate hotspot area/ areas on an imageEach of the above types of question are included in the companion Question Bank. Examples of each of the question types and how they are marked can also be found on the ACCA’s website at Specimen examThe ACCA’s specimen exam reflecting the new exam formats and incorporating all question types, is included in this Question Bank.6 Exam tipsRead the requirement very carefully . With calculation questions there are many opportunities for your examiner to confuse you or try and catch you out. It will be very easy to arrive at a result that is one of the options available.Manage your time . You have an average of 2 minutes and 24 seconds per question. S ome will take longer than others, particularly those that involve calculating a numerical answer. So if you get stuck on a question, make a note of the question number and move on. If you have time at the end of the exam you can go back and tackle the tricky questionsYou may be asked to choose one or more correct statements from a given list. Read each statement carefully. If you are unsure about one or more of them, move on and deal with the statements you do agree with. You may find the correct answer by process of elimination without needing to revisit the statements you are unsure about. In any event you should certainly be able to narrow down your choices.If you think you will run out of time, stop five minutes before the end and guess any remaining answers – remember you have a one in four chance of getting those questions right which could make the difference between a pass and a fail.8 Intro ductio n ACCA F 2 7How to study F2Plan your study timeGet your diary out and decide when, where and how often you want to study. If you followed a FirstIntuition course you would receive a minimum of five full days tuition, and be expected to doadditional work at home. Studying on your own is harder and will take longer. You should expect tospend at least 3 hours studying per week. On this basis it should take approximately two months tolearn the study material, then you should allow additional time for revision and final question practice.Most students should be ready to take the exam 3 months after commencing their studies.Set a target date for the examThis is very important with computer-based exams. If you don’t set a target there is a danger that you will spread your study time over too long a period, will lose momentum or simply not get around totaking the exam. When you set your target bear in mind how you wish to progress through thesyllabus, as from paper F4 onwards you are tied to the paper-based exam sittings in June andDecember. For example, if you wish to progress to the Skills level papers for a December sitting youshould complete your computer-based exams by 31 July.Make the most out of your study sessionsTry and complete each study session in one go so that you learn each topic in turn. Some sessions are longer than others, but make sure you take a break between sessions.Read the ACCA study guide at the start of each session so you know the learning outcomes for thatparticular session. Check the tutor tips for advice on how to tackle questions or which areas focus on.Then read the relevant chapter of the course notes.It is essential that you try the questions from the Question Bank where indicated. You will not passthe exam if you don’t attempt the questions. Check your answers and make sure you understand the workings for any that you get wrong. Often you will find that you got the wrong answer because youdidn’t read the question properly – the examiner does like to try and catch you out! If you get stuckgive your tutor a call and ask for advice.RevisionYou should attempt the additional question banks for each of the revision sessions as well as re-reading the study notes. When you are getting at least half of the questions right you are ready toattempt the Mock Exam. If you achieve at least 60% in the Mocks then you should be ready to attempt the real exam.The real examWhen are ready to attempt the real exam give us a call to arrange your CBE (or contact your nearestCBE centre). We hold weekly exam sessions but will do our best to be flexible so you can sit the examat a time that suits you.ACCA F 2Intro ductio n 9 8Study planner10 Intro ductio n ACCA F 2ACCA F 2Intro ductio n 118.1 Practical Experience Requirements (PER) and Performance ObjectivesACCA requires students to have 36 months’ practical experience in order to become members. Part ofthe practical experience requirements is achieving performance objectives that demonstrate that youcan apply what you’ve learnt when studying to real-life, work activities.ACCA has set out 20 performance objectives in 9 areas. You are required to achieve 13 performanceobjectives – all 9 Essentials performance objectives and any 4 Options performance objectives. ACCAhas provided guidance on which objectives are strongly linked to which exam. The relevant objectivesfor F2, which comprise Essentials and Options objectives, are:Manage self (relevant for all exams)(5)Communicate effectively (relevant for all exams)(6)Use information and communications technology (relevant for all exams)(12)Prepare financial information for management (relevant for F2, F5 and P5)(13)Contribute to budget planning and production (relevant for F2, F5 and P5)(14)Monitor and control budgets (relevant for F2, F5 and P5)No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of First Intuition Publishing Ltd.Any unauthorised reproduction or distribution in any form is strictly prohibited as breach of copyright and may be punishable by law.© First Intuition Publishing1 Accounting for management(a)Describe the purpose and role of cost and management accounting within an organisation.(b)Compare and contrast financial accounting with cost and management a ccounting.The purpose of cost and management accounting is to assist the management in running theirbusiness to achieve its overall plans, make the correct decisions and to control the business.1 管理会计(a)描述组织内部成本会计和管理会计的目的与作用。

ACCA P1P2P3复习以及答题技巧汇总ACCA P1《公司治理，风险和道德》是ACCA专业核心模块的第一门课程，它总共分为四个部分。

1.介绍在代理关系的环境下，企业的整个治理。

这个部分主要是董事的角色和责任以及外部审计师和内部审计师的角色和责任;2.介绍内部监察、内部控制以及实施有效的治理得到的反馈，包括关于决策和决策支持部门的合规问题;3.介绍管理层如何识别、评估和控制风险;4.介绍在会计师责任的背景下个人的以及职业道德和道德框架-职业价值观以及在各种各样的情况下的职业行为。

ACCA P1学习方法首先大家注意公司治理来自于F4中的agency thoery也就是我们经常说的代理理论。

正因为公司的投资人不直接参与公司的管理，从而导致管理者与持有人之间产生一些利益上的冲突，所以上市公司通过完善公司治理来增强监督、减少冲突、降低风险，从而达到股东投资回报最大化。

其次，大家要关注NED(非执行董事)在公司治理中的重要作用，以及他们发挥监督作用具备的条件，这其中要求NED要充分独立。

虽然NED不是公司雇员，和公司之间没有雇佣关系，但是他们对完善和实施公司的发展战略有着重要的作用，另外NED要有足够的时间参与公司的日常经营。

再次，我请同学们关注TURNBULL REPORT和COMBINED CODE中对internal control和risk management的要求。

什么样的internal control system是完善而且有效的，如何进行risk assessment以及如何进行风险处理。

需要强调的五点：第一、考官的历年考题中只有两种格式：Memo 和letter。

烦请大家注意这两种格式第二、大家注意自己写出来的句子要专业，比如有效的内部控制要写sound internal control system, risk embedded等等第三、答题要有逻辑性，适当的通过分段，分层次来讲述自己的观点第四、要注意senario中引号的句子，这些句子一般是考点最后，希望大家多动笔，少用眼睛考虑问题。

/中华会计网校会计人的网上家园Critical Success Factors关键成功因素ACCA P3考试：Critical Success FactorsCritical success factors (CSFs) are strongly related to the mission and strategic goals of a company because they provide the performance requirement that is fundamental for the company's success.Whereas the mission and goals focus on what is to be achieved, critical success factors identify the most important areas required to achieve goals.Advantages of Identifying CSFsThey are simple to understand.They help focus attention on major concerns.They are easy to communicate to co-workers; they are easy to monitor.They can be used in concert with strategic planning methodologies.Identifying CSFs is extremely important because it keeps people focused. Clarifying the priority order of CSFs, measuring results and rewarding superior performance will improve the odds for long-term success.Examples of CSFsPositive cash flow, revenue growth and profit margins;New customers and/or distributors;Customer satisfaction with the company's products and services;High product or service quality;New internally developed products or services that increase business among existing customers and attract new ones;Strategic relationships that bring new products or services to increase business among existing customers and attract new ones;Increasing the company's intellectual capital; that is, what the company knows to be profitable; and,Employee attraction and retention.。

【ACCA考经分享】不要轻易玩"3P",一次性过P1P2P3的学员分享本人是江财ACCA专业的，12月考试之前每天都昏天黑地，每天都在背了忘，忘了背。

在这里希望能将自己的一些心得体会能与各位ACCAer分享，希望大家都能过过过。

关于是否一次性报考3门的问题一次报考三门一定是有很大压力的，更何况是三门P。

因为现在每个考季间隔三个月，当时也是抱着冲一冲的心态，没过再来，但是真的发现时间很不够！如果追求高分数或者是求稳一点通过的同学们不建议一次报考超过两门，很有可能精力太分散导致都没过。

尤其对于P阶来说，题目长，文字表述能力的要求大大提高，所以需要一个适应的过程。

英语不好的小伙伴们一定要加强背诵和书写，如果你不是英语好到看一遍泽稷网校ACCA网课和讲义就能自带光环五六十分的那种人，一定要踏踏实背背背，练练练！注意ACCA考试时间在这里一定要单独提醒考试时间的问题，要快要快要快！重要的事情说三遍！！！做不完基本上很难通过！每门都是很赶很赶很赶的！所以一定要加快阅读速度，在阅读时间的15分钟看第一题，先看问题再看案例，在卷子上标记出答案要包含的点，最多在开始答卷的10分钟一定要构思完开始作答。

书写速度也要快，答题册一定要写过半，语言质量要保证（毕竟P阶，从句、虚拟别吝啬），注意答案要分点，利用小标题，假想自己是考官，怎么容易阅卷怎么写。

有思路的题先写，先拿到有把握的分。

P1——传说中过它还是看气质都说P1靠扯，其实这句话很有道理，这门科目真的偏理论、空洞。

但是不要以为人人都能靠扯就通过了。

首先还是背，不背肚子里没墨怎么扯？背的时候注意一些高分词，像uncontaminated decision等，在听网课的时候要勾下来。

还有就是道德立场要高尚，不要看电视剧里的玛丽苏不讨喜，考试的时候要毫无保留地。

2021年ACCA考试模拟试题：财务管理(1)1.在有限责任公司中，所有者的责任仅限于A.公司的债务B. 已发行普通股的市场价值C. 已发行普通股的票面价值D. 注册资本的价值2. 历史成本原则A. 不适用于资产负债表上的任何资产项目B.适用于资产负债表上某些负债项目C.适用于资产负债表上某些资产项目D. 适用于资产负债表上所有资产、负债项目3. 在进行财务比率分析时，假设货币价值A. 保持不变B. 变化可以预测C. 变化不可预测D. 不相关4. 企业评价投资项目时，计算全部现金流入量、现金流出量的现值，并将其进行比较，所得到的计算结果称为A. 回收期B.内部收益率C.会计报酬率D. 净现值5. 有4种评价投资的主要方法，其中考虑了货币时间价值的方法有A. 净现值法和内部收益率法B.内部收益率法和回收期法C.回收期法和会计报酬率法D. 会计报酬率法和净现值法6. 在存在资金限额的条件下，备选方案的排序应按下列哪种标准来进行A.现在已筹集到的资金的每元净现值B.尚需筹集的资金的每元净现值C. 尚需筹集的资金的每元内部收益率D.现在已筹集到的资金的每元内部收益率7. 在投资项目评价中，税款支出应A. 包含于现金流量之中B. 不包含在现金流量之中C. 包含于利润之中D.不包含在利润之中8. 抵押贷款是【】A. 一方以资产为担保借钱给另一方B.一种法律责任，以拥有的资产作担保的一项贷款C.一方向另一方借钱，并且以财产作担保，但不一定承担法律责任D.将款项支付给贷出方，其担保物是财产9. 营运资本应该【】A. 尽可能多B. 与企业的经营规模相适应C. 尽可能少D. 与长期资本一样多10. 存货周转率反映【】A. 商品销售的速度B. 商品付款的速度C. 客户购买存货付款的速度D. 购买商品的速度11. 一项兼并受到目标公司董事的反对，这项兼并称为【】A. 善意兼并B. 敌意兼并C. 横向兼并D. 企业的分立12. 给予现有普通股东购买新增发股票的权利是【】A. 发行可转换证券B. 发放贷款C. 发放奖金D. 发行优先认股权2021年ACCA考试模拟试题：财务管理(2)The following information should be used when answering questions 1, 2 and 3.ScenarioCAET have implemented a bespoke Human Resources (HR) system. The system has gone live but it has not proved very popular or successful, with users claiming that it only partly fulfils their requirements. A consultant has been hired toexamine their claims and to suggest how their concerns might be tackled.The consultant’s report has highlighted the role played by the Requirements Specification. He suggests that theRequirements Specification’s reliance on ambiguous textual specifications has led to problems of ill-defined and poorlycommunicated requirements. He claims that the‘analyst’s failure to use diagrammatic models has meant that manyrequirements were not fully understood before they were programmed. Specifications without diagrams are very difficult toquality assure.’ His report quotes several examples of textual specifications. Two specifications are reproduced below;Specification 1(field names are shown in italics)The system should hold information about Jobs (job number, job description, grade) and about the Departments (department name, department head) that these Jobs are in. A Department may have many Jobs allocated to it, but oneJob is only in one Department. When these Jobs become vacant they should be advertised in both Internal and Externalmedia. The information that must be stored isdate advertised, size of advertisement, noticeboard location(for internaladvertisement only),newsletter reference(for internal advertisement only),newspaper edition(for external advertisementonly) and cost of advertisement(for external advertisement only). Information about Applicants (applicant name, applicantaddress) is required, specifying which Job they are applying for and where they saw the Job advertised.Specification 2When an application form is received from an Applicant, a Clerk enters the information on the form into the system. As itis entered, it is validated against Job details to ensure that the Applicant is applying for a valid Job. Once details have beenentered they are stored on an Applicant database. Overnight a batch process is run to send an acknowledgement letter toeach Applicant. The date that the letter is sent is noted on the Applicant details held in the system.Redefinition ProjectThe consultant has suggested a Redefinition Project to address the problems encountered by the users. He says that,‘I am suggesting a mini-project with agreed Terms of Reference and a project plan. These problems need to be addressedin a planned manner’.The consultant is keen to stress that he does not wish to over-engineer the software solution. ‘We have to ensure that thetrade-off between time, cost and quality is appropriate for the delivered software’, he says, ‘the delivered software must beappropriately located on the time/cost/quality triangle.’1The consultant has recognised that ambiguous textual specification has contributed to the software’s problems. Heclaims that the ‘analyst’s failure to use diagrammatic models has meant that many requirements were not fullyunderstood before they were programmed.’ The implication is that the use of such diagrammatic models in analysiswould have solved many of the ambiguities of the specification.(a)Specification 1 in the scenario describes static structures, which could be modelled with a class model, entity-relationship model or logical data structure model.(i)Briefly explain the notation of EITHER a class model OR an entity-relationship model OR a logical datastructure model;(4 marks)(ii)Using this notation, model the information given in Specification 1. Note any assumptions you havemade or issues you would need to clarify with the user. Your answer should indicate the fields in eachentity/class.(6 marks)2021年ACCA考试模拟试题：财务管理(3) An organisation is reviewing the way that Information System (IS) projects are accounted for in the organisation. Atpresent the Information Systems department (which undertakes the IS projects) is a non-recharged cost centre.However, the organisation wishes to explore the advantages and disadvantages of other charging approaches.Four approaches are being considered(1)Non-rechargeable cost centre (current situation)(2)Recharged at cost(3)Recharged at a mark up (profit centre)(4)Setting up a separate IS companyRequired:FOR EACH of the FOUR approaches listed above:(i)briefly describe the principle of the approach;(1 mark)(ii)briefly describe ONE advantage of the approach;(2 marks)(iii)briefly describe ONE disadvantage of the approach.(2 marks)The mark allocation shown is for each approach, four approaches are listed.(20 marks)5(Designing Information Systems)An organisation wishes to purchase a software package to administer its workflow requirements. It is currently drawingup an Invitation to Tender (ITT) to send out to potential suppliers.Required:(a)Identify and briefly describe the contents of FOUR possible sections of the Invitation to Tender which will be sent to the potential suppliers.(12 marks)(b)Some of the managers are sceptical about the formal drawing up of an ITT. Project manager, Mary Mendes, claims ‘our approach is to select a software package from a well-established software house, show it to the usersand convince them that it is what they want. Ours is a much quicker approach than all this formal ITT stuff’.Explain the potential problems of Mary’s approach to software package selection and explain how these are overcome by a formal approach that includes the production of an ITT.(8 marks)(20 marks)46(Evaluating Information Systems)An examination board currently has a system where the following details are held about examinations. There are currently 1,000 examinations on file, set by 100 examiners. Each examiner has set 10 examinations. There is asimple computer file (called ASSESSMENT) containing 1,000 records. Each record has the following structure: ASSESSMENT fileField nameLength of fieldType of fieldExamination number4NumericExamination name30CharacterExaminer name30CharacterExaminer address50CharacterPassmark2Numeric2021年ACCA考试模拟试题：会计师与企业（1）Section A–BOTH questions are compulsory and MUST be attempted 1 Doric Co,a listed company,has two manufacturing divisions:parts and fridges.It has been manufacturing parts for domestic refrigeration and air conditioning systems for a number of years,which it sells to producers of fridges and air conditioners worldwide.It also sells around 50% of the parts it manufactures to its fridge production division.It started producing and selling its own brand of fridges a few years ago.After limited initial success,competition in the fridge market became very tough and revenue and profits have beendeclining.Without further investment there are currently few growth prospects in either the parts or the fridge divisions.Doric Co borrowed heavily to finance the development and launch of its fridges,and has now reached its maximum overdraft limit.The markets have taken a pessimistic view of the company and its share price has declined to 50c per share from a high of $2.85 per share around three years ago.Extracts from the most recent financial statements:A survey from the refrigeration and air conditioning parts market has indicated that there is potential for Doric Co to manufacture parts for mobile refrigerationunits used in cargo planes and containers.If this venture goes ahead then the parts division before-tax profits are expected to grow by 5% per year.The proposed venture would need an initial one-off investment of $50 million.Suggested proposalsThe Board of Directors has arranged for a meeting to discuss how to proceed and is considering each of the following proposals:1.To cease trading and close down the company entirely.2.To undertake corporate restructuring in order to reduce the level of debt and obtain the additional capital investment required to continue current operations.5.To close the fridge division and continue the parts division through a leveraged management buy-out,involving some executive directors and managers from the partsdivision.The new company will then pursue its original parts business as well as the development of the parts for mobile refrigeration business,described above.All the current and long-term liabilities will be initially repaid using the proceeds from the sale of the fridge division.The finance raised from the management buy-out will pay for any remaining liabilities,the additional capital investment required to continue operations and re-purchase the shares at a premium of 20%.The following information has been provided for each proposal:Cease tradingCorporate restructuringThe existing ordinary shares will be cancelled and ordinary shareholders will be issued with 40 million new $1 ordinary shares in exchange for a cash payment at par.The existing unsecured bonds will be cancelled and replaced with 270 million of $1 ordinary shares.The bond holderswill contribute $90 million in cash.All the shares will be listed and traded.The bank overdraft will be converted intoa secured ten-year loan with a fixed annual interest rate of 7%.The other unsecured loans will be repaid.In addition to this,the directors of the restructured company will get 4 million $1 share options for an exercise price of$1.10,which will expire in four years.An additional one-off capital investment of $80 million in machinery and equipment is necessary to increase sales revenue for both divisions by 7%,with no change to the costs.After the one-off 7% growth,sales will continue at the new level for the foreseeable future.It is expected that the Doric's cost of capital rate will reduce by 550 basis points following the restructuring from the current rate.Management buy-outThe parts division is half the size of the fridge division in terms of the assets and liabilitiesattributable to it.If the management buy-out proposal is chosen,a pro rata additional capital investment will be made to machinery and equipment on a one-off basis to increase sales revenue of the parts division by 7%.Salesrevenue will then continue at the new level for the foreseeable future.All liabilities categories have equal claim for repayment against the company's assets.It is expected that Doric's cost of capital rate will decrease by 100 basis points following the management buy-out from the current rate.The following additional information has been provided:Redundancy and other costs will be approximately $54 million if the whole company is closed,and pro rata for individual divisions that are closed.These costs have priority for payment before any other liabilities in case of closure.The taxation effects relating to this may be ignored.Corporation tax on profits is 20% and losses cannot be carried forward for tax purposes.Assume that tax is payable in the year incurred.All the non-current assets,including land and buildings,are eligible for tax allowable depreciation of 15% annually on the book values.The annual reinvestmentneeded to keep operations at their current levels is roughly equivalent to the tax allowable depreciation.The $50 million investment in the mobile refrigeration business is not eligible for any tax allowable depreciation.Doric's current cost of capital is 12%.Required:Prepare a report for the Board of Directors,evaluating the financial and non-financial impact of all the three proposals to Doric Co's main stakeholder groups,that includes:(i)An estimate of the return the debt holders and shareholders would receive in the event that Doric Co ceases trading and is closed down.(5 marks)(ii)An estimate of the income position and the value of Doric Co in the event that the restructuring proposal is selected.State any assumptions made.(8 marks)(iii)An estimate of the amount of additional finance needed and the value of Doric Co if the management buy-out proposal is selected.State any assumptions made.(8 marks)(iv)A discussion of the impact of each proposal on the existing shareholders,the unsecured bond holders,and the executive directors and managers involved in the management buy-out.Suggest which proposal is likely to be selected.(12 marks)Professional marks will be awarded in question 1 for the appropriateness and format of the report.(4 marks)(55 marks)2 Fubuki Co,an unlisted company based in Megaera,has been manufacturing electrical parts used in mobility vehicles for people with disabilities and the elderly,for many years.These parts are exported to various manufacturers worldwide but at present there are no local manufacturers of mobility vehicles in Megaera.Retailers in Megaera normally import mobility vehicles and sell them at an average price of $4,000 each.Fubuki Co wants to manufacture mobility vehicles locally and believes that it can sell vehicles of equivalent quality locally at a discount of 57.5% to the current average retail price.Although this is a completely new venture for Fubuki Co,it will be in addition to the company's corebusiness.Fubuki Co's directors expect to develop theproject for a period of four years and then sell it for $16 million to a private equity firm.Megaera's government has been positive about the venture and has offered Fubuki Co a subsidised loan of up to 80% of the investment funds required,at a rate of 200 basis points below Fubuki Co's borrowing rate.Currently Fubuki Co can borrow at 500 basis points above the five-year government debt yield rate.A feasibility study commissioned by the directors,at a cost of $250,000,has produced the following information.1.Initial cost of acquiring suitable premises will be $11 million,and plant and machinery used in the manufacture will cost $5 million.Acquiring the premises and installing the machinery is a quick process and manufacturing can commence almost immediately.2.It is expected that in the first year 1,500 unitswill be manufactured and sold.Unit sales will grow by 40% in each of the next two years before falling to an annual growth rate of 5% for the final year.After the first yearthe selling price per unit is expected to increase by 5% per year.5.In the first year,it is estimated that the total direct material,labour and variable overheads costs will be $1,200 per unit produced.After the first year,the direct costs are expected to increase by an annual inflation rate of 8%.4.Annual fixed overhead costs would be $2.5 million of which 60% are centrally allocated overheads.The fixed overhead costs will increase by 5% per year after the first year.5.Fubuki Co will need to make working capital available of 15% of the anticipated sales revenue for the year,at the beginning of each year.The working capital is expected to be released at the end of the fourth year when the project is sold.Fubuki Co's tax rate is 25% per year on taxable profits.Tax is payable in the same year as when the profits are earned.Tax allowable depreciation is available on the plant and machinery on a straight-line basis.It isanticipated that the value attributable to the plant and machinery after four years is $400,000 of the price at which the project is sold.No tax allowable depreciation is available on the premises.Fubuki Co uses 8% as its discount rate for new projects but feels that this rate may not be appropriate for this new type of investment.It intends to raise the full amount of funds through debt finance and take advantage of the government's offer of a subsidised loan.Issue costs are 4% of the gross finance required.It can be assumed that the debt capacity available to the company is equivalent to the actual amount of debt finance raised for the project.Although no other companies produce mobility vehicles in Megaera,Haizum Co,a listed company,produces electrical-powered vehicles using similar technology to that required for the mobility vehicles.Haizum Co's cost of equity is estimated to be 14% and it pays tax at 28%.Haizum Co has 15 million shares in issue trading at $2.55 each and $40 million bonds trading at $94.88 per $100.The five-year government debt yield is currently estimated at 4.5% and the market risk premium at 4%.Required:(a)Evaluate,on financial grounds,whether Fubuki Co should proceed with the project.(17 marks)(b)Discuss the appropriateness of the evaluation method used and explain any assumptions made in part(a)above.(8 marks)(25 marks)2021年ACCA考试模拟试题：会计师与企业（2）1 Bravado，a public limited company，has acquired two subsidiaries and an associate. The draft statements of financial position are as follows at 51 May 2009：Bravado Message Mixted$m $m $mAssets：Non-current assetsProperty，plant and equipment 265 250 161Investments in subsidiariesMessage 500Mixted 128Investment in associate - Clarity 20 Available-for-sale financial assets 51 6 5 - - -764 256 166- - -Current assets：Inventories 155 55 75Trade receivables 91 45 52Cash and cash equivalents 102 100 8- - -528 200 115- - -Total assets 1，092 456 279- - -Equity and liabilities：Share capital 520 220 100Retained earnings 240 150 80Other components of equity 12 4 7- - -Total equity 772 574 1872021年ACCA考试模拟试题：会计师与企业（3）On 1 June 2007，Bravado acquired 6% of the ordinary shares of Mixted. Bravado had treated this investment asavailable-for-sale in the financial statements to 51 May 2008 but had restated the investment at cost on Mixted becoming a subsidiary. On 1 June 2008，Bravado acquired a further 64% of the ordinary shares of Mixted and gained control of the company. The consideration for the acquisitions was as follows：Holding Consideration$m1 June 2007 6% 101 June 2008 64% 118- -70% 128- -Under the purchase agreement of 1 June 2008，Bravado is required to pay the former shareholders 50% of the profits of Mixted on 51 May 2010 for each of the financial years to 51 May 2009 and 51 May 2010. The fair value of this arrangement was estimated at $12 million at 1 June 2008 and at 51 May 2009 this value had not changed. This amount has not been included in the financial statements.At 1 June 2008，the fair value of the equity interestin Mixted held by Bravado before the business combination was $15 million and the fair value of the non-controlling interest in Mixted was $55 million. The fair value of the identifiable net assets at 1 June 2008 of Mixted was $170 million (excluding deferred tax assets and liabilities)，and the retained earnings and other components of equity were $55 million and $7 million respectively. There had been no new issue of share capital by Mixted since the date of acquisition and the excess of the fair value of the net assets is due to an increase in the value of property，plant and equipment (PPE)。

Accountant in Business Paper F1 Course Notes ACF1CN07 l i BPP provides revision courses question days mock days and specific material to assist you in this important phase of your studies. F1 Accountant in Business Study Programme for Standard Taught Course Page Introduction to the paper and the course...............................................................................................................iii 1 Business organisation and structure...........................................................................................................1.1 2 Information technology and systems...........................................................................................................2.1 3 Influences on organisational culture............................................................................................................3.1 4 Ethical considerations........................................................................................................................ ..........4.1 5 Corporate governance and social responsibility..........................................................................................5.1 6 Home study chapter – The macro economic environment..........................................................................6.1 End of Day 1 – refer to Course Companion for Home Study 7 The business environment..........................................................................................................................7.1 8 Home study chapter – The role of accounting.............................................................................................8.1 9 Control security and audit............................................................................................................................9.1 10 Identifying and preventing fraud................................................................................................................10.1 11 Leadership and managing people.............................................................................................................11.1 12 Individuals groups teams.........................................................................................................................12.1 End of Day 2 – refer to Course Companion for Home Study Course exam 1 13 Motivating individuals and groups.............................................................................................................13.1 14 Personal effectiveness and communication..............................................................................................14.1 15 Recruitment and selection.........................................................................................................................15.1 16 Diversity and equal opportunities..............................................................................................................16.1 17 Training and development. (1)7.1 18 Performance appraisal (1)8.1 End of Day 3 – refer to Course Companion for Home Study Course exam 2 19 Answers to Lecture Examples...................................................................................................................19.1 20 Appendix: Pilot Paper questions................................................................................................................20.1 ??Revision of syllabus ?? Testing of knowledge ?? Question practice ?? Exam technique practice INTRODUCTION ii Introduction to Paper F1 Accountant in Business Overall aim of the syllabus To introduce knowledge and understanding of the business and its environment and the influence this has on how organisations are structured on the role of the accounting and other key business functions in contributing to the efficient effective and ethical management and development of an organisation and its people and systems. The syllabus The broad syllabus headings are: A Business organisation structure governance and management B Key environmental influences and constraints on business and accounting C History and role of accounting in business D Specific functions of accounting and internal financial control E Leading and managing individuals and teams F Recruiting and developing effective employees Main capabilities On successful completion of this paper candidates should be able to: ?? Explain how the organisation is structured governed and managed ?? Identify and describe the key environmental influences and constraints ?? Describe the history purpose and position of accounting ?? Identify and explain the functions of accounting systems ?? Recognise the principles of leadership and authority ?? Recruit and develop effective employees Links with other papers This diagram shows where direct solid line arrows and indirect dashed line arrows links exist between this paper and other papers that may follow it. The Accountant in Business is the first paper that students should study as it acts as an introduction to business structure and purpose and to accountancy as a core business function. BA P3 MA F2 and FA F3PA P1 AB F1 INTRODUCTION iii Assessment methods and format of the exam Examiner: Bob Souster The examination is a two hour paper-based or computer-based examination. Questions will assess all parts of the syllabus and will test knowledge and some comprehension of application of this knowledge. The examination will consist of 40 two mark and 10 one mark multiple choice questions. The pass mark is 50 ie. 45 out of 90. INTRODUCTION iv Course Aims Achieving ACCAs Study Guide Outcomes Business organisations structure governance and management A1 The business organisation and its structure Chapter 1A2 The formal and informal business organisation Chapter 3 A3 Organisational culture in business Chapter 3 A4 Stakeholders of business organisations Chapter 3 A5 Information technology and information systems in business Chapter 2 A6 Committees in the business organisation Chapter 1 A7 Business ethics and ethical behaviour Chapter 4 A8 Governance and social responsibility Chapter 5 Key environmental influences and constraints on business and accounting B1 Political and legal factors Chapter 7 B2 Macro-economic factors Chapter 6 B3 Social and demographic factors Chapter 7 B4 Technological factors Chapter 7 B5 Competitive factors Chapter 7 History and role of accounting in business C1 The history and functions of accounting in business Chapter 8 C2 Law and regulations governing accounting Chapter 8 C3 Financial systems procedures and IT applications Chapter 8 C4 The relationship between accounting and other business functions Chapter 1 Specific functions of accounting and internal financial control D1 Accounting and financial functions within business Chapter 1 D2 Internal and external auditing and their functions Chapter 9 D3 Internal financial control and security within business organisations Chapter 9 D4 Fraud and fraudulent behaviour and their prevention in business Chapter 10 INTRODUCTION v Leading and managing individuals and teams E1 Leadership management and supervision Chapter 11 E2 Individual and group behaviour in business organisations Chapter 12 E3 Team formationdevelopment and management Chapter 12 E4 Motivating individuals and groups Chapter 13 Recruiting and developing effective employees F1 Recruitment and selection managing diversity and equal opportunities Chapter 15 16 F2 Techniques for improving personal effectiveness at work and their benefits Chapter 14 F3 Features of effective communication Chapter 14 F4 Training development and learning in the maintenance and improvement of business performance Chapter 17 F5 Review and appraisal of individual performance Chapter 18 INTRODUCTION vi Classroom tuition and Home study Your studies for BPP consist of two elements classroom tuition and home study. Classroom tuition In class we aim to cover the key areas of the syllabus. To ensure examination success you will need to spend private study time reinforcing your classroom course with question practice and reviewing areas of the Course Notes and Study Text. Home study To support you with your private study BPP provides you with a Course Companion which helps you to work at home and aims to ensure your private study time is effectively used. The Course Companion includes a Home Study section which breaks down your home study by days one to be covered at the end of each day of the course. You will find clear guidance as to the time to spend on various activities and their importance. You are also provided with sample questions and either two course exams which should be submitted for marking as they become due or an I-pass CD which is full of questions. These may include questions on topics covered in class and home study. BPP Learn Online Come and visit the BPP Learn Online free at/acca/learnonline for exam tips FAQs and syllabus health check. ACCA Forum We have thriving ACCA bulletin boards at /accaforum. Register and discuss your studies with tutors and students. Helpline If you have any queries during your private study simply contact your class tutor on the telephone number or e-mail address that they will supply. Alternatively call 44 020 8740 2222 or your local training centre if outside the London area and ask for a tutor for this paper to speak to you or to call you back within 24 hours. Feedback The success of BPP’s courses has been built on what you the students tell us. At the end of the course for each subject you will be given a feedback form to complete and return. If you have any issues or ideas before you are given the form to complete please raise them with the course tutor or relevant head of centre. If this is not possible please email . INTRODUCTION vii Key to icons Question practice from the Study Text This is a question we recommend you attempt for home study. Real world examples These can be found in the Course Companion. Section reference in the Study Text Further reading is needed on this area to consolidate your knowledge. INTRODUCTION viii 1.1 Syllabus Guide Detailed Outcomes Having studied this chapter you will be able to: ?? Ascertain the appropriate organisational structure for different types and sizes of business. ?? Understand the concepts of span of control and scalar chains. ?? Appreciate the differing levels of strategy in an organisation. Exam Context This chapter lays the foundation for an understanding of what organisations are what they do and how they do it. Section 2 Organisational structure represents a higher level of knowledge. You must be able to apply knowledge to exam questions. Qualification Context An understanding of business structures is important with regard to higher level accounting papers as well as P3 Business Analysis. Business Context Appreciating why organisations are structured in different ways will help with an understanding of how they should be managed. Business organisation and structure 1: BUSINESS ORGANISATION AND STRUCTURE 1.2Overview Departments and functions Why does the organisation exist Structural forms Business hierarchy 1: BUSINESS ORGANISATION AND STRUCTURE 1.3 1 Organisations 1.1 Definition – An organisation is a social arrangement which pursues collective goals which controls its own performance and which has a boundary separating it from its environment. Boundaries can be physical or social. 1.2 Key categories: ?? Commercial ?? Not for profit ?? Public sector ?? Charities ?? Trade unions ?? Local authorities ?? Mutual associates Class exercise Required Identify a real-world example of the above categories of organisation. 1.3 Organisations owned or run by the government local or national or government agencies are described as being in the public sector. All other organisations are classified as the private sector. Limited liability 1.4 Limited companies denoted by X Ltd or X plc are set up so as to have a separate legal entity from their owners shareholders. Liability of these owners is thus limited to the amount invested. Private v public 1.5 Private companies are usually owned by a small number of people family members and these shares are not easily transferable. Shares of public companies will be traded on the Stock Exchange. Pg 52-561: BUSINESS ORGANISATION AND STRUCTURE 1.4 2 Organisational structure 2.1 Henry Mintzberg believes that all organisations can be analysed into five components according to how they relate to the work of the organisation and how they prefer to co-ordinate. a Strategic apex Drives the direction of the business through control over decision-making. b Technostructure Drives efficiency through rules and procedures. c Operating core Performs the routine activities of the organisation in a proficient and standardised manner. d Middle line Performs the management functions of control over resources processes and business areas. e Support staff Provide expertise and service to the organisation. Strategic Apex Support Staff Technostructure Middle Line Operating Core 1: BUSINESS ORGANISATION AND STRUCTURE 1.5 Exam standard question Required Match the following staff/rules to Mintzbergs technostructure: a Manager of a retail outlet supervising 40 staff. b A salesman responsible for twenty corporate accounts. c The owner of a start-up internet company employing two staff. d The HR department which provides support to business managers. e The IT department seeking to standardise internal systems. 3 Structural forms for organisations Scalar chain and span of control 3.1 As organisations grow in size and scope different organisational structures may be suitable. 3.2 The Scalar chain and Span of control determine the basic shape. The scalar chain relates to levels in the organisation and the span of control the number of employees managed. 3.3 Tall organisations have a: a Long scalar chain via layers of management b Hierarchy c Narrow span of control. 3.4 Flat organisations have a: a Short scalar chain less layers b Wide span of control. 1: BUSINESS ORGANISATION AND STRUCTURE 1.6 3.5 MD Divisional directors Department managers Section managers MD Supervisors Department managers Charge hands Supervisors Workers Workers Tall Flat Pilot paper Required Identify factors which may contribute to the length of the chain and the span of control. Organisational structures 3.6 Entrepreneurial A fluid structure with little or no formality. Suitable for small start-up companies the activities and decisions are dominated by a key central figure the owner/entrepreneur. 3.7 Functional This structure is created via separate departments or functions. Employees are grouped by specialism and departmental targets will be set. Formal communication systems will be set up to ensure information is shared. 1: BUSINESS ORGANISATION AND STRUCTURE 1.7 3.8 Matrix A matrix organisation crosses a functional with a product/customer/projectstructure. This structure was created to bring flexibility to organisations geared towards project work or customer-specific jobs. Staff may be employed within a hierarchy or within specific functions but will be slotted into different teams or tasks where their skill is most needed. The matrix structure is built upon the principles of flexibility and dual authority. Required Identify two advantages and two disadvantages of each structure. Advantages Disadvantages Entrepreneurial Functional Matrix 3.9 Organisations are rarely composed of only one type of structure especially if the organisation has been in existence for some time and as a consequence a hybrid structure may be established. Hybrid structures involve a mixture of functional divisionalisation and at least one other form of divisionalisation. Area Manager A Area Manager B Area Manager C.。

ACCAP2考试复习资料Part one Group Accounts1. Basic knowledge for group accountingMajor workingsW1 group structureSubsidiary –IAS 27 Acquisition method “control”Associate –IAS 28 Equity method “significant influence”Joint Venture –IAS 31 Proportion or Equity method “joint control”W 2 FV of net assets of the subsidiary*sometimes the question will state this figure in which case the fair value adjustment will become the balancing figure**only relevant to include this here if the asset subject to the fair value adjustment remains at the reporting date i.e. it will not be relevant if it relates to inventory.W3 goodwill calculationThere are two methods in which goodwill may be calculated following the update to IFRS 3 (1) Partial goodwill (old method)(2) Full goodwill (new method)Or, this can be presented by:IFRS 3 requires that goodwill be subject to an impairment review. The subsidiary is regarded as the cash –generating unit.Cost of investmentCashDeferred cash –PV and finance costShare for share –MVFinancial instruments –MVContingent consideration –FV at the DOA with adjustment for subsequent changes.a)If the change is due to additional information obtained after the acquisition datethat affects the facts or circumstances as they existed at DOA, this is treated as a‘measurement period adjustment’ and the cost of investment and goodwill areremeasured.b)If changes due to events after the acquisition dateContingent consideration classified as equity shall not be remeasured, and itssubsequent settlement shall be accounted for within equity.Contingent consideration classified as an asset or a liability that :Is a financial instrument and is within the scope of IAS 39 shall be measured atfair value, with any resulting gain or loss recognized either in profit or loss, or inother comprehensive income.Is not within the scope of IAS 39 shall be accounted for in accordance with IAS37, Provisions, Contingent Liabilities and Contingent Assets, or other IFRSs asappropriate.Issue cost should be deducted from proceeds of issue. (i.e. share premium) not included in the cost of the acquisition. Professional fees and similar incremental costs –expense in the I/SW 4 Non-controlling interest(1) Old methodNCI % of FV of NA at DOC NCI%×b W2(2) New methodNCI in income statementNCI% × (PAT –URP –DEPR)W 5 consolidated reserves (RE + other) calculation The group reserves comprises as follows:Brief recap on accounting for associatesSignificant influence20% -50%Board representationAssociates are equity accounted for in the group accounts.URP is eliminated to the extent of group share.IAS 31 Interest in joint venturesJoint venture: a contractual arrangement whereby two or more parties undertake an economic activity that is subject to joint control.Jointly controlled operationsEach venture uses its own assets, incurs its own expenses and liabilities, and raises its own finance.IAS 31 requires that the venture should recognise in its financial statements the assets that it controls, the liabilities that it incurs, the expenses that it incurs, and its share of the income from the sale of goods or services by the joint venture. Jointly controlled assetsJointly controlled assets involve the joint control, and often the joint ownership, of assets dedicated to the joint venture. Each venture may take a share of the output from the assets and each bears a share of the expenses incurred.IAS 31 requires that the venture should recognise in its financial statements it share of the joint assets, any liabilities incurred, income and expenses in the joint venture.Jointly controlled entitiesA jointly controlled entity is a corporation, partnership, or other entity in which two or more venturers have an interest, under a contractual arrangement that establishes joint control over the entity.Each venture usually contributes cash or other resources to the jointly controlled entity.Those contributions are included in the accounting records of the venture and recognised in the venturer’s financial statements as an investment in the jointly contr olled entity. ?IAS 31 allows two treatments of accounting for an investment in jointly controlled entities –except as noted below:Method 1: proportionate consolidationUnder proportionate consolidation, the balance sheet of the venture includes its share of the assets and its share of the liabilities. The income statement of the venture includes its share of the income and expenses of the jointly controlled entity. Method 2: equity method of accountingProcedures for applying the equity method are the same as those described in IAS 28 investments in associates. Transactions between a venture and a joint ventureBalances, transactions between the JV and the group companies are not eliminated. URP is eliminated to the extent of group share.2. Complex group structuresA vertical groupA60%B70%CIn this illustration:A controlsB and B controls C.As A controls B, it also controls B’s holdings in other companies.Hence, B and C are subsidiaries of A as they are controlled by A.Company C is often called a sub-subsidiary.In a vertical group, use the group structure to determine the status of investments.The key is to identify control relationshipsThe parent controls its subsidiaries’ holdings in other companies but does not control associate holdings.The date of acquisition by A is the date on which A gains control. If B already held C, treat B and C as being acquired on the same day.The group structure is vital –always identify this first and determine the status of investment. Also look carefully at dates to identify when the parent obtained control.Effective group interestUsing the earlier group structure:A owns 60% ifB and B owns 70% of CSo A has an effective group interest in C of 60%*70% = 42%NCI own 58% of CMixed groupThe group is structure in manner where both the ultimate parent and a subsidiary have an interest on another entity.For exampleH60% 30%S T30%T is a subsidiary of H controls 30% directly and 30% indirectly via its interest in S. thus 60% is controlled. Consolidation is performed in a single stage using the consolidation percentages. S group share 60%Minority share 40%T group shareDirect 30%Indirect 60%of 30% 18% 48%Minority share 52%Step acquisitiona. control is achieved through two or more transactionsThe principles to be applied are:A business combination occurs only in respect of the transaction that gives one entity control of antherThe identifiable net assets of the acquire are remeasured to their fair value on the date of acquisitionNon-controlling interests are measured on the date of acquisition under one of the two options permitted by IFRS 3 Goodwill is measured as:Consideration transferred to obtain controlPlusAmount of non-controlling interest (using either option)PlusFair value of previously-held equity interestLessFair value of the identifiable net assets of the acquireb. transactions between parent and non-controlling interestsOnce control has been achieved, further transactions whereby the parent entity acquires further equity interests from non-controlling interests, or disposes of equity interests but without losing control, are accounted for as equity transactions (i.e. transactions with owners in their capacity as owners) it follows that:The carrying amount of the controlling and non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiary;Any difference between the amount by which the non-controlling interests is adjusted and the fair value of the consideration paid or received is recognised directly in equity and attributed to the owners of the parent and;There is no consequential adjustment to the carrying amount of goodwill, and no gain or loss is recognised in profit or loss.3. Disposala. loss of controlIAS 27 details the adjustments made when a parent losses control of a subsidiary, based on the date when control is lost: Derecognise the carrying amount of assets (including goodwill), liabilities and non-controlling interests;Recognise the fair value of consideration received;Recognise any distribution of shares to owners;Recognise the fair value of any residual interest;Reclassify to profit or loss any amounts (i.e. the entire amount, not a proportion) relating to the subsid iary’s assets and liabilities previously recognised in other comprehensive income as if the assets and liabilities had been disposed of directly; andRecognise any resulting difference as a gain or loss in profit or loss attributable to the parentb. Transactions between parent and NCISame principle as step acquisition (equity transaction)c. Full disposalCalculate gain or loss by comparing FV of consideration received, and FV of NA at date of disposal plus unimpaired goodwill 4. Foreign currencyIndividual company stageFunctional and presentational currenciesThe functional currency is the currency of the primary economic environment where the entity operates, in many cases this will be the local currency.An entity should consider the following factors in determining its functional currency: ?The currency than mainly influences sales prices for goods and servicesThe currency of the country whose competitive forces and regulations mainly determine the sales price of goods and servicesThe currency that mainly influences labour, material and other costs of providing goods and services.The presentation currency is the currency in which the entity presents its financial statements and this can be different from the functional currency, particularly if the entity in question is a foreign owned subsidiary. It may have to present its financial statements in the currency of the parent company. Even though that is different from their every day trading currency.Individual transactions in a foreign currencyAt transaction date:At the spot exchange rate on the date the transaction occurred; orUsing an average rate over a period of time providing the exchange rate has not fluctuated significantly.At subsequent balance sheet dates:Foreign currency monetary items (debtors, creditors, cash, loans) must be translated using the closing rate.Foreign currency non-monetary items (fixed assets, investments, stock) are not retranslatedExchange differences are recognized in income.Group stageWhere there is an overseas subsidiary that has a functional currency which is a local currency, prior to consolidation it will need to be translated into using the closing rate method.Closing rate methodThe balance sheet of the overseas entity is translated using the closing rate.The income statement items are translated at the average rate for the period.Exchange differences in the group accountsWith the closing rate method the group percentage of the exchange difference is dealt with in reserves.6. Cash Flow statementDetails see bookPart two summary of IAS and IFRS1. IAS 10 events after the balance sheet datePost balance sheet events: an event which occurs after the year end but before the FS are approved. If it gives the new evidence on condition which existed at the year end, then adjusting PBSE –apply relevant accounting treatment. If it gives new evidence on condition which did not exist at the year end, but impacts going concern assumption, then adjust. If it does not impact the going concern, then disclose in nature and estimate of financial effect.2. IAS 37 provisions, contingent liabilities and contingent assetsProvisions: only provide if obligation legal or constructive; probable transfer of economic benefit resulting from a past event; can be reliably measuredContingent liability: potential liability, assess likelihood of liability, remote –ignore, possible –disclose, probable –disclose/provideContingent asset: potential asset, assess likelihood of asset, remote –ignore, possible –ignore, probable –discloseProvision: A liability of uncertain timing or amountMeasurement of provisionsBest estimate–this means:Provisions for one-off events (restructuring, environmental clean-up, settlement of a lawsuit) are measured at the most likely amountProvisions for large populations of events (warranties, customer refunds) are measured ata probability-weighted expected value.Both measurements are at discounted present value using a pre-tax discount rate that reflects the current market assessments of the time value of money and the risks specific to the liability.RemeasurementThey should be reviewed at each balance sheet date and adjusted to reflect the current best estimateIf it is no longer probable that an outflow of resources will be required to settle the obligation, the provision should be reversed.RestructuringsRestructuring provisions should be accrued as follows:Sale of operation: accrue provision only after a binding sale agreementClosure or reorganisation: accrue only after a detailed formal plan is adopted and announced publicly. A board decision is not enough.Future operating losses: provisions should not be recognised for future operating losses, even in a restructuringRestructuring provision on acquisition (merger): accrue provision for terminating employees, closing facilities, and eliminating product lines only if announced at acquisition and, then only if a detailed formal plan is adopted 3 months after acquisition.Restructuring provisions should include only direct expenditures caused by the restructuring, not costs that associated with the ongoing activities of the enterprise.Onerous contractsThe least net cost should be recognised as a provision. The least net cost is lower of the cost of fulfilling the contract or of terminating it and suffering any penalty payments.Debit entryWhen a provision (liability) is recognised, the debit entry for a provision is not always an expense. Sometimes the provision may form part of the cost of the asset. Examples: obligation for environmental cleanup when a new mine is opened or an offshore oil rig is installed.Contingent liabilitiesIt requires that enterprises should not recognise contigent liabilities –but should disclose them, unless the possibility of an outflow of economic resources is remote.Contingent assetsContingent assets should not be recognised –but should be disclosed where an inflow of economic benefits is probable.Non-current assets3. IAS 16 Property, plant and equipmentRecognitionMeet definition of assetOwner occupied asset with physical existenceMajor inspection or overhaul costsThey can be treated as a separate component of the asset, they will be depreciated over the period up until the next overhaul dateInitial measurementThey should be initially recorded at cost. Cost includes all costs necessary to bring the asset to working condition for its intended use.Measurement subsequent to initial recognitionIAS 16 permits two accounting models:Cost modelRevaluation modelThe revaluation modelUpwards –revaluation reserves unless reverses previous decreaseDownwards –income statements unless reverses previous increaseMay transfer differences between new and old depreciation from RR to REOn disposal, transfer remaining balance of RR to RE. The transfer to retained earnings should not be made through the income statement.4. IAS 36 impairment of assetsImpairment. An asset is impaired when its carrying amount exceeds its recoverable amount. Recoverable amount.The higher of an asset’s fair value less costs to sell (sometimes called net selling price) and its value in use.Value in use. The discounted present value of estimated future cash flows expected to arise from the use of the asset. Asset are tested for impairment annuallyAn intangible asset with an indefinite useful lifeAn intangible asset not yet available for useGoodwill acquired in a business combinationIndications of impairmentExternal sourcesMarket value declinesNegative changes in technology, markets, economy, or lawsIncreases in market interest ratesCompany stock price is below book valueInternal sourcesObsolescence or physical damageAsset is part of a restructuring or held for disposalWorse economic performance than expectedRecognition of an impairment lossThe impairment loss is an expense in the income statement (unless it relates to a revalued asset where the value changes are recognised directly in equity).Adjust depreciation for future periodsCash-generating unitsThe impairment loss is allocated to reduce the carrying amount of the assets of the unit (group of units) in the following order: Specifically impaired assetsGoodwillReduce the carrying amounts of the other assets of the unit (group of units) pro rata on the basisThe carrying amount of an asset should not be reduced below the highest of:Its fair value less costs to sell (if determinable);Its value in use (if determinable);ZeroReversal of an impairment lossThe increased carrying amount due to reversal should not be more than what the depreciated historical cost would have been if the impairment had never been recorded. ?Reversal of an impairment loss is recognised as income in the income statement. ?Adjust depreciation for future periodsReversal of an impairment loss for goodwill is prohibited5. IAS 40 investment propertyInvestment property is property (land or a building or part of a building or both) held (by the owner or by the lessee under a finance lease) to earn rentals or for capital appreciation or both.Initial measurementInvestment property is initially measured at cost, including transaction costs.Measurement subsequent to initial recognitionIAS 40 permits enterprises to choose between:A fair value modelA cost modelIAS 40 notes that this highly unlikely for a change from a fair value model to a cost model.Fair value modelInvestment property is remeasured at fair value at each year end with gains or losses are taken to I/S.6. IFRS 5 non-current assets held for sale and discontinued operationHeld-for-sale classification.In general, the following conditions must be net for an asset (disposal group) to be classified as held for sale:Management is committed to a plan to sellThe asset is available for immediate saleAn active program to locate a buyer is initiatedThe sale is highly probable, within 12 months of classification as held for sale (subject to limited expectations)The asset is being actively marketed for sale at a sales price reasonable in relation to its fair valueActions required to complete the plan indicate that it is unlikely that plan will be significantly changed or withdrawnA decision made after the year-end but before the accounts are approved that a non-current asset or disposal group is held for sale is a non-adjusting event.MeasurementNon-current assets or disposal groups that are classified as held for sale are measured at the lower of carrying amount and fair value less costs to sell. Assts should be presented as a current asset in the balance sheet.Non-depreciation. Non-current assets or disposal groups that are classified as held for sale shall not be depreciated.Key provisions of IFRS 5 relating to discontinued operations:Classification as discontinuing. A discontinued operation is a component of an entity that either has been disposed of or is classified as held for sale, and:Represents a separate major line of business or geographical area of operations,Is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of operations, orIs a subsidiary acquired exclusively with a view to resaleIncome statement presentationThe sum of the post-tax profit or loss of the discontinued operation andThe post-tax gain or loss on the disposal of the assets (or disposal group)Detailed disclosure of revenue, expenses, pre-tax profit or loss, and related income taxed is required either in the notes or on the face of the income statement in a section distinct from continuing operations.No retroactive classification.IFRS 5 prohibits the retroactive classification as a discontinued operation, when the discontinued criteria are met after the balance sheet date.7. IAS 38 intangible assetsRecognition –meet definitionPurchased separatelyLicenseQuotaFranchiseShould be measured at costPurchased as part of business combinationGoodwill=consolidation –fair value of net assets at date of acquisition other identifiable assets and liabilities –separately account for (see group account)Internally generated intangiblesInternally generated goodwill –no recognitionDevelopment of brands, mastheads, publishing titles and customer lists –costs incurred on these items should be written off. Research and developmentResearch –income statements as an expenseDevelopment should be recognised if, and only if, an enterprise can demonstrate all of the following:The technical feasibilityIts intention to complete and use or sell itIts ability to use or sell the intangible assetThe intangible asset will generate probable future economic benefits.The availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible assetMeasured reliablyAmortisationFinite useful life –amortise over that life. Normally the straight-line method should be used with a zero residual valueIndefinite useful life –not be amortised, but tested for impairment annually8. leasesClassification of leasesA leases is classified as a finance lease if it transfers substantially all the risks and rewards incident to ownership. All other leases are classified as operating leases. Classification is subjective and is made at the inception of the lease.Whether a lease is a finance lease or an operating lease depends on the substance of the transaction rather than the form. Indicators may be:The lease transfers ownership of the asset to the lessee by the end of the lease term The lessee has the option to purchase the asset at nominal valueThe lease term is for the major part of the economic life of the assetAt the inception of the lease, PVMLP/FV > 90%The lease assets are of a specialised nature such that only the lessee can use them without major modifications being madeThe lessee has the ability to continue to lease for a secondary period at a rent that is substantially lower than market rentIn classifying a lease of land and buildings, land and buildings elements would normally be separately. The land element is normally classified as an operating lease unless title passes to the lessee at the end of the lease term. The building element is classified as an operating or finance lease by applying the classification criteria in IAS 17.The following principles should be applied in the financial statements of lessees:Finance leaseStep 1Capitalise using lower of PVMLP and fair valueDr Non current assetsCr Finance lease obligationStep 2Depreciate over shorter of lease term and useful economic lifeStep 3Calculate interest charges and outstanding liabilityRentals in advanceFinance charge 100B/S NCA *NCL –finance lease obligation 790CL –finance lease obligation 110Operating lease, the lease payments should be recognised as an expense in the income statement over the lease term on a straight-line basis, unless another systematic basis is more representative of the time pattern of t he user’s benefit. Incentives for the agreement of a new or renewed operating lease should be recognised by the lessee as a reduction of the rental expense over the lease term, irrespective of the incentive’s nature or form, or the timing of payments.。