ACCA INFORMATION

Fundamentals Level – Knowledge Module Management AccountingTime allowed: 2 hoursThis paper is divided into two sections:Section A – ALL 35 questions are compulsory and MUSTbe attemptedSection B – ALL THREE questions are compulsory and MUSTbe attemptedFormulae Sheet, Present Value and Annuity Tables are onpages 16, 17 and 18.Do NOT open this paper until instructed by the supervisor.This question paper must not be removed from the examination hall. The Association of Chartered Certified AccountantsSection A – ALL 35 questions are compulsory and MUST be attemptedPlease use the space provided on the inside cover of the Candidate Answer Booklet to indicate your chosen answer to each multiple choice question.Each question is worth 2 marks.1 A manufacturing company benchmarks the performance of its accounts receivable department with that of a leadingcredit card company.What type of benchmarking is the company using?A B C D Internal benchmarking Competitive benchmarking Functional benchmarking Strategic benchmarking2 3 Which of the following BEST describes target costing?ABCDSetting a cost by subtracting a desired profit margin from a competitive market price Setting a price by adding a desired profit margin to a production costSetting a cost for the use in the calculation of variancesSetting a selling price for the company to aim for in the long runInformation relating to two processes (F and G) was as follows:Process Normal loss as% of inputInput(litres)Output(litres)FG8565,00037,50058,90035,700For each process, was there an abnormal loss or an abnormal gain?Process F Process GABCDAbnormal gainAbnormal gainAbnormal lossAbnormal lossAbnormal gainAbnormal lossAbnormal gainAbnormal loss4 The following budgeted information relates to a manufacturing company for next period:Units $Production Sales 14,00012,000Fixed production costsFixed selling costs63,00012,000The normal level of activity is 14,000 units per period.Using absorption costing the profit for next period has been calculated as $36,000. What would be the profit for next period using marginal costing?A B C D $25,000$27,000$45,000$47,00025 The Eastland Postal Service is government owned. The government requires it to provide a parcel delivery service toevery home and business in Eastland at a low price which is set by the government. Express Couriers Co is a privately owned parcel delivery company that also operates in Eastland. It is not subject to government regulation and most of its deliveries are to large businesses located in Eastland’s capital city. You have been asked to assess the relative efficiency of the management of the two organisations.Which of the following factors should NOT be allowed for when comparing the ROCE of the two organisations to assess the efficiency of their management?A B C D Differences in prices charged Differences in objectives pursued Differences in workforce motivation Differences in geographic areas served6 Under which sampling method does every member of the target population has an equal chance of being in thesample?A B C D Stratified sampling Random sampling Systematic sampling Cluster sampling7 A Company manufactures and sells one product which requires 8 kg of raw material in its manufacture. The budgeteddata relating to the next period are as follows:UnitsSalesOpening inventory of finished goods Closing inventory of finished goods 19,000 4,000 3,000KgOpening inventory of raw materials Closing inventory of raw materials 50,000 53,000What is the budgeted raw material purchases for next period (in kg)?A B C D 141,000147,000157,000163,0003 [P.T.O.8 Up to a given level of activity in each period the purchase price per unit of a raw material is constant. After that pointa lower price per unit applies both to further units purchased and also retrospectively to all units already purchased.Which of the following graphs depicts the total cost of the raw materials for a period?$ $A B0 0$ $C D0 0A B C D Graph A Graph B Graph C Graph D9 Which of the following are benefits of budgeting?1 2 3 4 It helps coordinate the activities of different departments It fulfils legal reporting obligationsIt establishes a system of controlIt is a starting point for strategic planningA B C D 1 and 4 only1 and 3 only2 and3 only 2 and4 only10 The following statements relate to the participation of junior management in setting budgets:1.2.3. It speeds up the setting of budgetsIt increases the motivation of junior managers It reduces the level of budget paddingWhich statements are true?A B C D 1 only2 only2 and3 only1, 2 and 3411 A company has a capital employed of $200,000. It has a cost of capital of 12% per year. Its residual income is$36,000.What is the company’s return on investment?A B C D 30% 12% 18% 22%12 A company has calculated a $10,000 adverse direct material variance by subtracting its flexed budget direct materialcost from its actual direct material cost for the period.Which of the following could have caused the variance?(1) An increase in direct material prices(2) An increase in raw material usage per unit(3) Units produced being greater than budgeted(4) Units sold being greater than budgetedA B C D 2 and 3 only3 and4 only 1 and 2 only 1 and 4 only13 A company has recorded the following variances for a period:Sales volume variance Sales price variance Total cost variance $10,000 adverse $5,000 favourable $12,000 adverseStandard profit on actual sales for the period was $120,000. What was the fixed budget profit for the period?A B C D $137,000 $103,000 $110,000 $130,00014 Which of the following are suitable measures of performance at the strategic level?(1) Return on investment(2) Market share(3) Number of customer complaintsA B C D 1 and 22 only2 and 31 and 35 [P.T.O.15 Which of the following are feasible values for the correlation coefficient?1 2 3 4 +1·40 +1·04 0–0·94A B C D 1 and 2 only3 and4 only 1, 2 and 4 only 1, 2, 3 and 416 A company’s operating costs are 60% variable and 40% fixed.Which of the following variances’ values would change if the company switched from standard marginal costing to standard absorption costing?A B C D Direct material efficiency variance Variable overhead efficiency variance Sales volume varianceFixed overhead expenditure variance17 ABC Co has a manufacturing capacity of 10,000 units. The flexed production cost budget of the company is asfollows:Capacity 60% 100%Total production costs $11,280 $15,120What is the budgeted total production cost if it operates at 85% capacity?A B C D $13,680 $12,852 $14,025 $12,34018 Using an interest rate of 10% per year the net present value (NPV) of a project has been correctly calculated as $50.If the interest rate is increased by 1% the NPV of the project falls by $20.What is the internal rate of return (IRR) of the project?A B C D 7·5%11·7%12·5%20·0%619 A factory consists of two production cost centres (P and Q) and two service cost centres (X and Y). The total allocatedand apportioned overhead for each is as follows:P Q X Y $95,000$82,000$46,000$30,000It has been estimated that each service cost centre does work for other cost centres in the following proportions: P 50 30Q 50 60X – 10Y – –Percentage of service cost centre X to Percentage of service cost centre Y toThe reapportionment of service cost centre costs to other cost centres fully reflects the above proportions. After the reapportionment of service cost centre costs has been carried out, what is the total overhead for production cost centre P? A B C D$124,500 $126,100 $127,000 $128,50020 A company always determines its order quantity for a raw material by using the Economic Order Quantity (EOQ)model.What would be the effects on the EOQ and the total annual holding cost of a decrease in the cost of ordering a batch of raw material? EOQ Annual holding cost Lower Higher Higher LowerA B C D Higher Higher Lower Lower21 A company which operates a process costing system had work-in-progress at the start of last month of 300 units(valued at $1,710) which were 60% complete in respect of all costs. Last month a total of 2,000 units werecompleted and transferred to the finished goods warehouse. The cost per equivalent unit for costs arising last month was $10. The company uses the FIFO method of cost allocation.What was the total value of the 2,000 units transferred to the finished goods warehouse last month? A B C D$19,910 $20,000 $20,510 $21,71022 A manufacturing company operates a standard absorption costing system. Last month 25,000 production hours werebudgeted and the budgeted fixed production cost was $125,000. Last month the actual hours worked were 24,000 and standard hours for actual production were 27,000.What was the fixed production overhead capacity variance for last month? A B C D$5,000 Adverse $5,000 Favourable $10,000 Adverse $10,000 Favourable7 [P .T.O.23 The following statements have been made about value analysis.(1) It seeks the lowest cost method of achieving a desired function(2) It always results in inferior products(3) It ignores esteem valueWhich is/are true ?A B C D 1 only2 only3 only1 and 3 only24 Under which of the following labour remuneration methods will direct labour cost always be a variable cost?A B C D Day ratePiece rate Differential piece rate Group bonus scheme25 A company manufactures and sells a single product. In two consecutive months the following levels of production andsales (in units) occurred:Month 1 3,800 Month 2 4,400SalesProduction 3,900 4,200The opening inventory for Month 1 was 400 units. Profits or losses have been calculated for each month using both absorption and marginal costing principles.Which of the following combination of profits and losses for the two months is consistent with the above data?Absorption costing profit/(loss) Marginal costing profit/(loss)Month 1$ Month 2$Month 1$Month 2$A B C D200(400)2004,4004,4003,2003,200(400)200(400)2003,2003,2004,4004,400 (400)26 The following statements relate to the advantages that linear regression analysis has over the high low method in theanalysis of cost behaviour:1.2.3. the reliability of the analysis can be statistically tested it takes into account all of the datait assumes linear cost behaviourWhich statements are true?A B C D 1 only1 and2 only2 and3 only1, 2 and 3827 A company operates a process in which no losses are incurred. The process account for last month, when there wasno opening work-in-progress, was as follows:Process Account$ $ Costs arising 624,000 Finished output (10,000 units) 480,000Closing work-in-progress (4,000 units) 144,000––––––––––––––––624,000 624,000––––––––––––––––The closing work in progress was complete to the same degree for all elements of cost.What was the percentage degree of completion of the closing work-in-progress?A B C D 12% 30% 40% 75%28 Which of the following would not be expected to appear in an organisation’s mission statement?A B C D The organisation’s values and beliefsThe products or services offered by the organisation Quantified short term targets the organisation seeks to achieve The organisation’s major stakeholders29 An organisation operates a piecework system of remuneration, but also guarantees its employees 80% of a time-basedrate of pay which is based on $20 per hour for an eight hour working day. Three minutes is the standard time allowed per unit of output. Piecework is paid at the rate of $18 per standard hour.If an employee produces 200 units in eight hours on a particular day, what is the employee’s gross pay for thatday?A B C D $128 $144 $160 $18030 A company uses an overhead absorption rate of $3·50 per machine hour, based on 32,000 budgeted machine hoursfor the period. During the same period the actual total overhead expenditure amounted to $108,875 and 30,000 machine hours were recorded on actual production.By how much was the total overhead under or over absorbed for the period?A B C D Under absorbed by $3,875Under absorbed by $7,000Over absorbed by $3,875Over absorbed by $7,0009 [P.T.O.31 Which of the following statements relating to management information are true?1.2.3.4. It is produced for parties external to the organisationThere is usually a legal requirement for the information to be produced No strict rules govern the way in which the information is presentedIt may be presented in monetary or non monetary termsA B C D 1 and 2 3 and 41 and 32 and 432 A company’s sales in the last year in its three different markets were as follows$Market 1 Market 2 Market 3 100,000 150,000 50,000 ––––––––Total 300,000––––––––In a pie chart representing the proportion of sales made by each region what would be the angle of the section representing Market 3 (to the nearest whole degree)?A B C D 17 degrees 50 degrees 61 degrees 120 degrees33 Which of the following BEST describes a flexible budget?A B C D A budget which shows variable production costs onlyA monthly budget which is changed to reflect the number of days in the monthA budget which shows sales revenue and costs at different levels of activityA budget that is updated halfway through the year to incorporate the actual results for the first half of the year34 The purchase price of an item of inventory is $25 per unit. In each three month period the usage of the item is20,000 units. The annual holding costs associated with one unit equate to 6% of its purchase price. The cost of placing an order for the item is $20.What is the Economic Order Quantity (EOQ) for the inventory item to the nearest whole unit?A B C D 7308941,4611,633.1035 Two products G and H are created from a joint process. G can be sold immediately after split-off. H requires furtherprocessing into product HH before it is in a saleable condition. There are no opening inventories and no work in progress of products G, H or HH. The following data are available for last period:$Total joint production costsFurther processing costs of product H 350,000 66,000Product Productionunits420,000330,000Closing inventory 20,000 30,000GHHUsing the physical unit method for apportioning joint production costs, what was the cost value of the closing inventory of product HH for last period?A B C D $16,640$18,625$20,000$21,600(70 marks)Section B – ALL THREE questions are compulsory and MUST be attempted1 Cab Co owns and runs 350 taxis and had sales of $10 million in the last year. Cab Co is considering introducing anew computerised taxi tracking system.The expected costs and benefits of the new computerised tracking system are as follows:(i) The system would cost $2,100,000 to implement.(ii) (iii) Depreciation would be provided at $420,000 per annum.$75,000 has already been spent on staff training in order to evaluate the potential of the new system. Further training costs of $425,000 would be required in the first year if the new system is implemented.(iv) Sales are expected to rise to $11 million in Year 1 if the new system is implemented, thereafter increasing by 5% per annum. If the new system is not implemented, sales would be expected to increase by $200,000 per annum.(v) Despite increased sales, savings in vehicle running costs are expected as a result of the new system. These are estimated at 1% of total sales.(vi) Six new members of staff would be recruited to manage the new system at a total cost of $120,000 per annum. (vii) Cab Co would have to take out a maintenance contract for the new system at a cost of $75,000 per annum for five years.(viii) Interest on money borrowed to finance the project would cost $150,000 per annum.(ix) Cab Co’s cost of capital is 10% per annum.Required:(a) State whether each of the following items are relevant or irrelevant cashflows for a net present value (NPV)evaluation of whether to introduce the computerised tracking system.(i) Computerised tracking system investment of $2,100,000;(ii) Depreciation of $420,000 in each of the five years;(iii) Staff training costs of $425,000;(iv) New staff total salary of $120,000 per annum;(v) Staff training costs of $75,000;(vi) Interest cost of $150,000 per annum.Note: The following mark allocation is provided as guidance for this requirement:(i) 0·5 marks(ii) 1 mark(iii) 0·5 marks(iv) 1 mark(v) 1 mark(vi) 1 mark(5 marks)(b) Calculate the following values if the computerised tracking system is implemented.(i) Incremental sales in Year 1;(ii) Savings in vehicle running costs in Year 1;(iii) Present value of the maintenance costs over the life of the contract.Note: The following mark allocation is provided as guidance for this requirement:(i) 1 mark(ii) 0·5 marks(iii) 1·5 marks(3 marks)(c) Cab Co wishes to maximise the wealth of its shareholders. It has correctly calculated the following measures forthe proposed computerised tracking system project:–––The internal rate of return (IRR) is 14%,The return on average capital employed (ROCE) is 20% and The payback period is four years.Required:Which of the following is true?A B C D The project is worthwhile because the IRR is a positive valueThe project is worthwhile because the IRR is greater than the cost of capitalThe project is not worthwhile because the IRR is less than the ROCEThe project is not worthwhile because the payback is less than five years (2 marks)(10 marks)2 Castilda Co manufactures toy robots. The company operates a standard marginal costing system and values inventoryat standard cost.The following is an extract of a partly completed spreadsheet for calculating variances in month 1.Required:(a) Which formula will correctly calculate the direct labour efficiency variance in cell B18?A B C D = (C9*C4)- B13=B13-(C9*C4)= (C9*C4)- (150,000*8)=(150,000-(C9*6))*8 (2 marks)(5 marks)(b) Calculate the following for month 1:Sales volume variance and state whether it is favourable or adverse;(i)(ii) Sales price variance and state whether it is favourable or adverse.Note: The total marks will be split equally between each part.(c) Castilda’s management accountant thinks that the direct labour rate and efficiency variances for Month 1 couldbe interrelated.Required:Briefly explain how the two direct labour variances could be interrelated. (3 marks)(10 marks)3 Nicholson Co sells mobile telephones. It supplies its customers with telephones and wireless telephone connections.Customers pay an annual fee plus a monthly charge based on calls made.The company has recently employed a consultant to install a balanced scorecard system of performance measurement and to benchmark the results against those of Nicholson Co’s competitors. Unfortunately the consultant was called away before the work was finished. You have been asked to complete the work. The following data is available.Nicholson CoOperating data for the year ended 30 November 2013Sales revenueSales attributable to new products Average capital employed $480 million $8 million $192 million $48 million 1,960,00010,000Profit before interest and taxAverage numbers of customersAverage number of telephones returned for repair each dayNumber of bill queries 12,000Number of customer complaintsNumber of customers lostAverage number of telephones unrepaired at the end of each day21,600 117,600804Required:(a) Calculate the following ratios and other statistics for Nicholson Co for the year ended 30 November 2013.Return on capital employed;(i)(ii) Return on sales (net profit percentage);(iii) Asset turnover;(iv) Average wait for telephone repair (in days);(v) Percentage of customers lost per annum;(vi) Percentage of sales attributable to new products.Note: The following mark allocation is provided as guidance for this requirement:(i) 1·5 marks(ii) 1·5 marks(iii) 1·5 marks(iv) 1·5 marks(v) 1 mark(vi) 1 mark(8 marks)(c) A balanced scorecard measures performance from four perspectives: customer satisfaction, growth, financialsuccess and process efficiency.Required:Briefly explain any ONE of the four perspectives above. (2 mark)(10 marks)Formulae Sheet Regression analysisy = a + bxEconomic order quantity2C 0D C hEconomic batch quantity2C 0D C h (1–DR)Present Value TablePresent value of 1 i.e. (1 +r)–nWhere r = discount raten = number of periods until paymentDiscount rate (r)Periods(n) 1% 2% 3% 4% 5% 6% 7% 8% 9% 10%12345 0·9900·9800·9710·9610·9510·9800·9610·9420·9240·9060·9710·9430·9150·8880·8630·9620·9250·8890·8550·8220·9520·9070·8640·8230·7840·9430·8900·8400·7920·7470·9350·8730·8160·7630·7130·9260·8570·7940·7350·6810·9170·8420·7720·7080·6500·9090·8260·7510·6830·62112345678910 0·9420·9330·9230·9410·9050·8880·8710·8530·8370·8200·8370·8130·7890·7660·7440·7900·7600·7310·7030·6760·7460·7110·6770·6450·6140·7050·6650·6270·5920·5580·6660·6230·5820·5440·5080·6300·5830·5400·5000·4630·5960·5470·5020·4600·4220·5640·5130·4670·4240·3866789101112131415 0·8960·8870·8790·8700·8610·8040·7880·7730·7580·7430·7220·7010·6810·6610·6420·6500·6250·6010·5770·5550·5850·5570·5300·5050·4810·5270·4970·4690·4420·4170·4750·4440·4150·3880·3620·4290·3970·3680·3400·3150·3880·3560·3260·2990·2750·3050·3190·2900·2630·2391112131415(n) 11% 12% 13% 14% 15% 16% 17% 18% 19% 20%12345 0·9010·8120·7310·6590·5930·8930·7970·7120·6360·5670·8850·7830·6930·6130·5430·8770·7690·6750·5920·5190·8700·7560·6580·5720·4970·8620·7430·6410·5520·4760·8550·7310·6240·5340·4560·8470·7180·6090·5160·4370·8400·7060·5930·4990·4190·8330·6940·5790·4820·40212345678910 0·5350·4820·4340·3910·3520·5070·4520·4040·3610·3220·4800·4250·3760·3330·2950·4560·4000·3510·3080·2700·4320·3760·3270·2840·2470·4100·3540·3050·2630·2270·3900·3330·2850·2430·2080·3700·3140·2660·2250·1910·3520·2960·2490·2090·1760·3350·2790·2330·1940·1626789101112131415 0·3170·2860·2580·2320·2090·2870·2570·2290·2050·1830·2610·2310·2040·1810·1600·2370·2080·1820·1600·1400·2150·1870·1630·1410·1230·1950·1680·1450·1250·1080·1780·1520·1300·1110·0950·1620·1370·1160·0990·0840·1480·1240·1040·0880·0740·1350·1120·0930·0780·0651112131415Annuity Table1 – (1 + r)–nPresent value of an annuity of 1 i.e. ————––rWhere r = discount raten = number of periodsDiscount rate (r)Periods(n) 1% 2% 3% 4% 5% 6% 7% 8% 9% 10%12345 0·9901·9702·9413·9024·8530·9801·9422·8843·8084·7130·9711·9132·8293·7174·5800·9621·8862·7753·6304·4520·9521·8592·7233·5464·3290·9431·8332·6733·4654·2120·9351·8082·6243·3874·1000·9261·7832·5773·3123·9930·9171·7592·5313·2403·8900·9091·7362·4873·1703·79112345678910 5·7956·7287·6528·5669·4715·6016·4727·3258·1628·9835·4176·2307·0207·7868·5305·2426·0026·7337·4358·1115·0765·7866·4637·1087·7224·9175·5826·2106·8027·3604·7675·3895·9716·5157·0244·6235·2065·7476·2476·7104·4865·0335·5355·9956·4184·3554·8685·3355·7596·1456789101112131415 10·3711·2612·1313·0013·879·78710·5811·3512·1112·859·2539·95410·6311·3011·948·7609·3859·98610·5611·128·3068·8639·3949·89910·387·8878·3848·8539·2959·7127·4997·9438·3588·7459·1087·1397·5367·9048·2448·5596·8057·1617·4877·7868·0616·4956·8147·1037·3677·6061112131415(n) 11% 12% 13% 14% 15% 16% 17% 18% 19% 20%12345 0·9011·7132·4443·1023·6960·8931·6902·4023·0373·6050·8851·6682·3612·9743·5170·8771·6472·3222·9143·4330·8701·6262·2832·8553·3520·8621·6052·2462·7983·2740·8551·5852·2102·7433·1990·8471·5662·1742·6903·1270·8401·5472·1402·6393·0580·8331·5282·1062·5892·99112345678910 4·2314·7125·1465·5375·8894·1114·5644·9685·3285·6503·9984·4234·7995·1325·4263·8894·2884·6394·9465·2163·7844·1604·4874·7725·0193·6854·0394·3444·6074·8333·5893·9224·2074·4514·6593·4983·8124·0784·3034·4943·4103·7063·9544·1634·3393·3263·6053·8374·0314·1926789101112131415 6·2076·4926·7506·9827·1915·9386·1946·4246·6286·8115·6875·9186·1226·3026·4625·4535·6605·8426·0026·1425·2345·4215·5835·7245·8475·0295·1975·3425·4685·5754·8364·9885·1185·2295·3244·6564·7934·9105·0085·0924·4864·6114·7154·8024·8764·3274·4394·5334·6114·6751112131415End of Question Paper。

ACCA P5知识点：波特五力模型波特五力模型是迈克尔·波特（Michael Porter）于20世纪80年代初提出，它认为行业中存在着决定竞争规模和程度的五种力量，这五种力量综合起来影响着产业的吸引力以及现有企业的竞争战略决策。

五种力量分别为同行业内现有竞争者的竞争能力、潜在竞争者进入的能力、替代品的替代能力、供应商的讨价还价能力、购买者的讨价还价能力。

使用波特五力模型（见图1）将有助于确定一个行业或部门竞争的来源。

那么今天浦江.财经就来解析一下ACCA P5中波特五力模型这个知识点。

The model has similarities with other tools for environmental audit, such as political, economic, social, and technological (PEST) analysis, but should be used at the level of the strategic business unit, rather than the organisation as a whole. A strategic business unit (SBU) is a part of an organisation for which there is a distinct external market for goods or services. SBUs are diverse in their operations and markets so the impact of competitive forces may be different for each one.Five forces analysis focuses on five key areas: the threat of entry, the power of buyers, the power of suppliers, the threat of substitutes, and competitive rivalry.THE THREAT OF ENTRYThis depends on the extent to which there are barriers to entry. These barriers must be overcome by new entrants if they are to compete successfully. Johnson et al (2005), suggest that the existence of such barriers should be viewed as delaying entry and not permanently stopping potential entrants. Typical barriers are detailed below.Economies of scaleFor example, the benefits associated with volume manufacturing by organisations operating in the automobile and chemical industries. Lower unit costs result from increased output, thereby placing potential entrants at a considerable cost disadvantage unless they can immediately establish operations on a scale that will enable them to derive similar economies.The capital requirement of entryThese vary according to technology and scale. Certain industries, especially those which are capital intensive and/or require very large amounts of research and development expenditure, will deter all but the largest of new companies from entering the market.Access to supply or distribution channelsIn many industries, manufacturers enjoy control over supply and/or distribution channels via direct ownership (vertical integration) or, quite simply, supplier or customer loyalty. Potential market entrants may be frustrated by not being able to get their products accepted by those individuals who decide which products gain shelf or floor space in retailing outlets. Retail space is always at a premium and untried products from a new supplier constitute an additional risk for the retailer.Supplier and customer loyaltyA potential entrant will find it difficult to gain entry to an industry where there are one or more established operators with a comprehensive knowledge of the industry, and with close links with key suppliers and customers.Cost disadvantages independent of scaleWell-established companies may possess cost advantages which are not available to potential entrants irrespective of their size and cost structure. Critical factors include proprietary product technology, personal contacts, favourable business locations, learning curve effects, favourable access to sources of raw materials, and government subsidies.Expected retaliationIn some circumstances, a potential entrant may expect a high level of retaliation from an existing firm, designed to prevent entry –or make the costs of entry prohibitive.Government regulationThis may prevent companies from entering into direct competition with nationalised industries. In other scenarios, the existence of patents and copyrights afford some degree of protection against new entrants.DifferentiationDifferentiated products and services have a higher perceived value than those offered by competitors. Products may be differentiated in terms of price, quality, brand image, functionality, exclusivity, and so on. However, differentiation may be eroded if competitors can imitate the product or service being offered and/or reduce customer loyalty.THE POWER OF BUYERSThe power of the buyer will be high where:there are a few, large players in a market. For example, large supermarket chains can apply a great deal of price pressure on their potential suppliers. This is especially the case where there are a large number of undifferentiated, small suppliers, such as small farming businesses supplying fresh produce to large supermarket chainsthe cost of switching between suppliers is low, for example from one haulage contractor to anotherthe buyer's product is not significantly affected by the quality of the supplier's product. For example, a manufacturer of foil and cling film will not be affected too greatly by the quality of the spiral-wound paper tubes on which their products are wrappedbuyers earn low profitsbuyers have the potential for backward integration, for example where the buyer might purchase the supplier and/or set up in business and compete with the supplier. This is a strategic option which might be selected by a buyer in circumstances where favourable prices and quality levels cannot be obtainedbuyers are well informed. For example, having full information regarding availability of supplies.THE POWER OF SUPPLIERSThe power of the seller will be high where (and this tends to be a reversal of the power of buyers):there are a large number of customers, reducing their reliance upon any single customerthe switching costs are high. For example, switching from one software supplier to another could prove extremely costlythe brand is powerful (BMW, McDonalds, Microsoft). Where the supplier's brand is powerful then a retailer might not be able to operate a particular brand in its range of productsthere is a possibility of the supplier integrating forward, such as a brewery buying restaurantscustomers are fragmented so that they have little bargaining power, such as the customers of a petrol station situated in a remote location.THE THREAT OF SUBSTITUTESThe threat of substitutes is higher where:there is product-for-product substitution, eg for fax and postal servicesthere is substitution of need. For example, better quality domestic appliances reduce the need for maintenance and repair services. The information technology revolution has made a significant impact in this particular area as it has greatly diminished the need for providers of printing and secretarial servicesthere is generic substitution competing for disposable income, such as the competition between carpet and flooring manufacturers.COMPETITIVE RIVALRYCompetitive rivalry is likely to be high where:there are a number of equally balanced competitors of a similar size. Competition is likely to intensify as one competitor strives to attain dominance over anotherthe rate of market growth is slow. The concept of the life cycle suggests that in mature markets, market share has to be achieved at the expense of competitorsthere is a lack of differentiation between competitor offerings because, in such situations, there is little disincentive to switch from one supplier to anotherthe industry has high fixed costs, perhaps as a result of capital intensity, which may precipitate price wars and hence low margins. Where capacity can only be increased in large increments, requiring substantial investment, then the competitor who takes up this option is likely to create short-term excess capacity and increased competitionthere are high exit barriers. This can lead to excess capacity and, consequently, increased competition from those firms effectively 'locked in' to a particular marketplace.In summary, the application of Porter's five forces model will increase management understanding of an industrial environment which they may want to enter.。

ACCA F4-F9模拟题及解析（5）1. (a) In order for auditors to operate effectively and to provide an opinion on an entity’s financial statements, they are given certain rights.Required:State THREE rights of an auditor, excluding those related to resignation and removal. (3 marks) (b) HKSA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment requires auditors to obtain an understanding of control activities relevant to the audit.Control activities are the policies and procedures that help ensure that management directives are carried out;and which are designed to prevent and detect fraud and error occurring. An example of a control activity is themaintenance of a control account.Required:Apart from maintenance of a control account, explain FOUR control activities a company may undertake to prevent and detect fraud and error. (4 marks)(c) Describe THREE limitations of external audits. (3 marks)(10 marks)2. Sunflower Stores Co (Sunflower) operates 25 food supermarkets. The company’s year end is 31 December 2012.The audit manager and partner recently attended a planning meeting with the finance director and have provided you with the planning notes below.You are the audit senior, and this is your first year on this audit. In order to familiarise yourself with Sunflower, the audit manager has asked you to undertake some research in order to gain an understanding of Sunflower, so that you are able to assist in the planning process. He has then asked that you identify relevant audit risks from the notes below and also consider how the team should respond to these risks.Sunflower has spent $1·6 million in refurbishing all of its supermarkets; as part of this refurbishment programme their central warehouse has been extended and a smaller warehouse, which was only occasionally used, has been disposed of at a profit. In order to finance this refurbishment, a sum of $1·5 million was borrowed from the bank.This is due to be repaid over five years.The company will be performing a year-end inventory count at the central warehouse as well as at all 25 supermarkets on 31 December. Inventory is valued at selling price less an average profit margin as the finance director believes that this is a close approximation to cost.Prior to 2012, each of the supermarkets maintained their own financial records and submitted returns monthly to head office. During 2012 all accounting records have been centralised within head office. Therefore at the beginning of the year, each supermarket’s opening balances were transferred into head office’s accounting records. The increased workload at head office has led to some changes in the finance department and in November 2012 the financial controller left. His replacement will start in late December.Required:(a) List FIVE sources of information that would be of use in gaining an understanding of Sunflower Stores Co,and for each source describe what you would expect to obtain. (5 marks)(b) Using the information provided, describe FIVE audit risks and explain the auditor’s response to each risk in planning the audit of Sunflower Stores Co. (10 marks)(c) The finance director of Sunflower Stores Co is considering establishing an internal audit department.Required:Describe the factors the finance director should consider before establishing an internal audit department.(5 marks)(20 marks)3.(a) Identify and explain each of the FIVE fundamental principles contained within ACCA’s Code of Ethics and Conduct. (5 marks)(b) Rose Leisure Club Co (Rose) operates a chain of health and fitness clubs. Its year end was31 October 2012.You are the audit manager and the year-end audit is due to commence shortly. The following three matters have been brought to your attention.(i) Trade payables and accruals Rose’s finance director has notified you that an error occurred in the closing of the purchase ledger at the year end. Rather than it closing on 1 November, it accidentally closed one week earlier on 25 October. All purchase invoices received between 25 October and the year end have been posted to the 2013 year-end purchase ledger. (6 marks) (ii) Receivables Rose’s trade receivables have historically been low as most members pay monthly in advance. However, during the year a number of companies have taken up group memberships at Rose and hence the receivables balance is now material. The audit senior has undertaken a receivables circularisation for the balances at the year end; however, there are a number who have not responded and a number of responses with differences. (5 marks)(iii) Reorganisation The company recently announced its plans to reorganise its health and fitness clubs. This will involve closing some clubs for refurbishment, retraining some existing staffand disposing of some surplus assets. These plans were agreed at a board meeting in October and announced to their shareholders on 29 October. Rose is proposing to make a reorganisation provision in the financial statements. (4 marks)Required:Describe substantive procedures you would perform to obtain sufficient and appropriate audit evidence in relation to the above three matters.Note: The mark allocation is shown against each of the three matters above.(20 marks)4.(a) Explain the purpose of, and procedures for, obtaining written representations. (5 marks)(b) The directors of a company have provided the external audit firm with an oral representation confirming that the bank overdraft balances included within current liabilities are complete. Required:Describe the relevance and reliability of this oral representation as a source of evidence to confirm the completeness of the bank overdraft balances. (3 marks)(c) You are the audit manager of Violet & Co and you are currently reviewing the audit files for several of your clients for which the audit fieldwork is complete. The audit seniors have raised the following issues:Daisy Designs Co (Daisy)Daisy’s year end is 30 September, however, subsequent to the year end the company’s sales ledger has been corrupted by a computer virus. Daisy’s finance director was able to produce the financial statements prior to this occurring; however, the audit team has been unable to access the sales ledger to undertake detailed testing of revenue or year-end receivables. All other accounting records are unaffected and there are no backups available for the sales ledger. Daisy’s revenue is $15·6m, its receivables are $3·4m and profit before tax is $2m.Fuchsia Enterprises Co (Fuchsia)Fuchsia has experienced difficult trading conditions and as a result it has lost significant market share. The cash flow forecast has been reviewed during the audit fieldwork and it shows a significant net cash outflow.Management are confident that further funding can be obtained and so have prepared the financial statements on a going concern basis with no additional disclosures; the audit senior is highly sceptical about this. The prior year financial statements showed a profit before tax of $1·2m; however, the current year loss before tax is $4·4m and the forecast net cash outflow for the next 12 months is $3·2m.Required:For each of the two issues:(i) Discuss the issue, including an assessment of whether it is material;(ii) Recommend procedures the audit team should undertake at the completion stage to try to resolve the issue; and(iii) Describe the impact on the audit report if the issue remains unresolved.Notes: 1 The total marks will be split equally between each issue.2 Audit report extracts are NOT required. (12 marks)(20 marks)试题及答案1.(a)Auditors’ rights– Right of access at all times to the company’s books, accounts and vouchers.– Right to require from an officer of the company such information or explanations as they think necessary for the performance of their duties as auditors.– Right to receive all communications relating to written resolutions.– Right to receive all notices of, and other communications relating to, any general meeting which a member of the company is entitled to receive.– Right to attend any general meeting of the company.– Right to be heard at any general meeting which an auditor attends on any part of the business of the meeting which concerns them as auditor.(b) Control activities Segregation of duties – assignment of roles/responsibilities to different people, thereby reducing the risk of fraud and error occurring.Information processing – computer controls including general IT controls, which cover a range of applications and support the overall IT environment and application controls which are manual or automated controls which operate on a cycle/business process level.Authorisation – approval of transactions by a suitably responsible official to ensure transactions are genuine.Physical controls – restricting access to physical assets such as cash, inventory and plant and equipment, thereby reducing the risk of theft.Performance reviews – comparison or review of the performance of the business by looking at areas such as budget v actual results.Arithmetical controls – controls which check the arithmetical accuracy of accounting records. Account reconciliations – comparison of an account balance with another source; often this source is from a third party, such as the bank, with differences being investigated.(c)Limitations of external auditsAn external audit has a number of limitations which reduce its usefulness:Sampling – it is not practical for an auditor to test 100% of transactions and so they have to apply sampling methodologies in selecting balances/transactions to test. Therefore, there could be an error in an item not selected for testing by the auditor.Subjectivity – financial statements include judgemental and subjective areas and therefore the auditor is required to use their judgement in assessing whether the financial statements are true and fair.Inherent limitations of internal control systems – an internal control system is operated by people and hence is liable to human error. In addition, there is the possibility of controls override by management and of collusion and fraud. It is impossible to remove all of these inherent limitations and as the auditor relies on the internal control systems, this can reduce the usefulness of the audit.Evidence is persuasive not conclusive – the opinion is based on audit evidence gathered; however, while this evidence can indicate possible issues affecting the audit opinion, evidence involves estimates and judgements and hence does not give a definite conclusion.Audit report format – the format of the opinion is determined by International Standards on Auditing. However, the terminology used is not usually understood by non-accountants. This means that users may not actually understand the audit opinion given.Historic information – the audit report is often issued some time after the year end, and so the financial information can be quite different to the current position. In the current marketplace where companies’ financial positions can change quite quickly, the audit opinion may no longer be relevant as it is out of date.2 (a)Understanding an entitySource of information Information expect to obtainPrior year audit file Identification of issues that arose in the prior year audit and howthese were resolved. Also whether any points brought forward were noted for consideration for this year’s audit.Prior year financial statements Provides information in relation to the size of the entity as well as the key accounting policies and disclosure notes.Accounting systems notes Provides information on how each of the key accounting systems operates.Discussions with management Provides information in relation to any important issues which havearisen or changes to the company during the year.Current year budgets and management Provides relevant financial information for the year to date. Will help accounts of Sunflower Stores Co (Sunflower) the auditor to identify whether Sunflower has changed materially since last year. In addition, this will be useful for preliminary analytical review and risk identification.Permanent audit file Provides information in relation to matters of continuing importancefor the company and the audit team, such as statutory books information or important agreements. Sunflower’s website Recent press releases from the company may provide background on changes to the business during the year as this could lead to additional audit risks.Prior year report to management Provides information on the internal control deficiencies noted in the prior year; if these have not been rectified by management then theycould arise in the current year audit as well.Financial statements of competitors This will provide information about Sunflower’s competitors, in relation to their financial results and their accounting policies. This will be important in assessing Sunflower’s performance in the year and also when undertaking the going concern review.(b)Audit risks and auditor responses Audit risk Auditor response Sunflower has spent $1·6m on refurbishing its 25 food supermarkets. This expenditure needs to be reviewed to assess whether it is of a capital nature and should be included within non-current assets or expensed as repairs. Review a breakdown of the costs and agree to invoices to assess the nature of the expenditure and, if capital, agree to inclusion within the asset register and, if repairs, agree tothe income statement.During the year a small warehouse has been disposed of at a profit. The asset needs to have been correctly removed from property plant and equipment to ensure the non-current asset register is not overstated, and the profit on disposal should be included within the income statement. Review the non-current asset register to ensure that the asset has been removed. Also confirm the disposal proceeds as well as recalculating the profit on disposal.Consideration should be given as to whether the profit on disposal is significant enough to warrant separate disclosure within the income statement.Sunflower has borrowed $1·5m from the bank via a five year loan. This loan needs to be correctly split between current and non-current liabilities.In addition, Sunflower may have given the bank a charge over its assets as security for the loan. There is a risk that the disclosure of any security given is not complete.During the audit the team would need to confirm that the $1·5m loan finance was received. In addition, the split between current and non-current liabilities and the disclosures for this loanshould be reviewed in detail to ensure compliance with relevant accounting standards.The loan agreement should be reviewed to ascertain whether any security has been given, and this bank should be circularised as part of the bank confirmation process.Sunflower will be undertaking a number of simultaneous inventory counts on 31 December including the warehouse and all 25 supermarkets. It is not practical for the auditor to attend all of these counts; hence it may not be possible to gain sufficient appropriate audit evidence over inventory counts.The team should select a sample of sites to visit. It is likely that the warehouse contains most goods and therefore should be selected. In relation to the 25 supermarkets, the team should visit those with material inventory balances and/or those with a history of inventory count issues.(c)Internal audit departmentPrior to establishing an internal audit (IA) department, the finance director of Sunflower should consider the following:(i) The costs of establishing an IA department will be significant, therefore prior to committing to these costs and management time, a cost benefit analysis should be performed.(ii) The size and complexity of Sunflower should be considered. The larger, more complex and diverse a company is, then the greater the need for an IA department. At Sunflower there are 25 supermarkets and a head office and therefore it would seem that the company is diverse enough to gain benefit from an IA department.(iii) The role of any IA department should be considered. The finance director should consider what tasks he would envisage IA performing. He should consider whether he wishes them to undertake inventory counts at the stores, or whether he would want them to undertake such roles as internal controls reviews.(iv) Having identified the role of any IA department, the finance director should consider whether there are existing managers or employees who could perform these tasks, therefore reducing the need to establish a separate IA department.(v) The finance director should assess the current control environment and determine whether there are departments or stores with a history of control deficiencies. If this is the case, then it increases the need for an IA department.(vi) If the possibility of fraud is high, then the greater the need for an IA department to act as both a deterrent and also to possibly undertake fraud investigations. As Sunflower operates 25 food supermarkets, it will have a significant risk of fraud of both inventory and cash.3. (a)Fundamental principlesIntegrity –to be straightforward and honest in all professional and business relationships. Objectivity–to not allow bias, conflict of interest or undue influence of others to override professional or business judgements.Professional Competence and Due Care – to maintain professional knowledge and skill at the level required to ensure that a client receives competent professional services, and to act diligently and in accordance with applicable technical and professional standards.Confidentiality – to respect the confidentiality of information acquired as a result of professional and business relationships and, therefore, not to disclose any such information to third parties without proper authority, nor use the information for personal advantage. Professional Behaviour – to comply with relevant laws and regulations and avoid any action that discredits the profession.15Audit risk Auditor response Sunflower’s inventory valuation policy is selling price less average profit margin. Inventory should be valued at the lower of cost and net realisable value (NRV) and if this is not the case, then inventory could be under or overvalued.HKAS 2 Inventories allows this as an inventory valuation method as long as it is a close approximation to cost. If this is not the case, then inventory could be under or overvalued.Testing should be undertaken to confirm cost and NRV of inventory and that on a line-by-line basis the goods are valued correctly.In addition, valuation testing should focus on comparing the cost of inventory to the selling price less margin to confirm whether this method is actually a close approximation to cost. The opening balances for each supermarket have been transferred into the head office’s accounting records at the beginning of the year. There is a risk that if this transfer has not been performed completely and accurately, the opening balances may not be correct.Discuss with management the process undertaken to transfer the data and the testing performed to confirm the transfer was complete and accurate.Computer-assisted audit techniques could be utilised by the team to sample test the transfer of data from each supermarket to head office to identify any errors.There has been an increased workload for the finance department, the financial controller has left and his replacement will only start in late December.This increases the inherent risk within Sunflower as errors may have been made within the accounting records by the overworked finance team members. The new financial controller may not be sufficiently experienced to produce the financial statements and resolve any audit issues.The team should remain alert throughout the audit for dditional errors within the financedepartment.In addition, discuss with the finance director whether he will be able to provide the team with assistance for any audit issues the new financial controller is unable to resolve.(b)Substantive procedures(i)Trade payables and accruals– Calculate the trade payable days for Rose Leisure Clubs Co (Rose) and compare to prior years, investigate any significant difference, in particular any decrease for this year.– Compare the total trade payables and list of accruals against prior year and investigate any significant differences.– Discuss with management the process they have undertaken to quantify the understatement of trade payables due to the cut-off error and consider the materiality of the error.– Discuss with management whether any correcting journal entry has been included for the understatement.– Select a sample of purchase invoices received between the period of 25 October and the year end and follow them through to inclusion within accruals or as part of the trade payables journal adjustment.– Review after date payments; if they relate to the current year, then follow through to the purchase ledger or accrual listing to ensure they are recorded in the correct period.– Obtain supplier statements and reconcile these to the purchase ledger balances, and investigate any reconciling items.– Select a sample of payable balances and perform a trade payables’ circularisation, follow up any non-replies and any reconciling items between the balance confirmed and the trade payables’ balance.– Select a sample of goods received notes before the year end and after the year end and follow through to inclusion in the correct period’s payables balance, to ensure correct cut-off. (ii)Receivables– For non-responses, with the client’s permission, the team should arrange to send a follow up circularisation.– If the receivable does not respond to the follow up, then with the client’s permission, the senior should telephone the customer and ask whether they are able to respond in writing to the circularisation request.– If there are still non-responses, then the senior should undertake alternative procedures to confirm receivables.– For responses with differences, the senior should identify any disputed amounts, and identifywhether these relate to timing differences or whether there are possible errors in the records of Rose.– Any differences due to timing, such as cash in transit, should be agreed to post year-end cash receipts in the cash book.– The receivables ledger should be reviewed to identify any possible mispostings as this could be a reason for a response with a difference.– If any balances have been flagged as disputed by the receivable, then these should be discussed with management to identify whether a write down is necessary.(iii)Reorganisation– Review the board minutes where the decision to reorganise the business was taken, ascertain if this decision was made pre year end.– Review the announcement to shareholders in late October, to confirm that this was announced before the year end.– Obtain a breakdown of the reorganisation provision and confirm that only direct expenditure from restructuring is included.– Review the expenditure to confirm that there are no retraining costs included.– Cast the breakdown of the reorganisation provision to ensure correctly calculated.– For the costs included within the provision, agree to supporting documentation to confirm validity of items included.– Obtain a written representation confirming management discussions in relation to the announcement of the reorganisation.– Review the adequacy of the disclosures of the reorganisation in the financial statements to ensure they are in accordance with HKAS 37 Provisions, Contingent Liabilities and Contingent Assets.4.(a)Written representationsWritten representations are necessary information that the auditor requires in connection with the audit of the entity’s financial statements. Accordingly, similar to responses to inquiries, written representations are audit evidence.The auditor needs to obtain written representations from management and, where appropriate, thosecharged with governance that they believe they have fulfilled their responsibility for the preparation of the financial statements and for the completeness of the information provided to the auditor.Written representations are needed to support other audit evidence relevant to the financial statements or specific assertions in the financial statements, if determined necessary by theauditor or required by other Hong Kong Standards on Auditing.This may be necessary for judgemental areas where the auditor has to rely on management explanations. Written representations can be used to confirm that management have communicated to the auditor all deficiencies in internal controls of which management are aware.Written representations are normally in the form of a letter, written by the company’s management and addressed to the auditor. The letter is usually requested from management but can also be requested from the chief operating officer or chief financial officer. Throughout the fieldwork, the audit team will note any areas where representations may be required.During the final review stage, the auditors will produce a draft representation letter. The directors will review this and then produce it on their letterhead.It will be signed by the directors and dated as at the date the audit report is signed, but not after.(b) Oral representationA representation from management confirming that overdrafts are complete would be relevant evidence. Overdrafts are liabilities and therefore the main focus for the auditor is completeness.With regards to reliability, the evidence is oral rather than written and so this reduces its reliability. The directors could in the future deny having given this representation, and the auditors would have no documentary evidence to prove what the directors had said.This evidence is obtained from management rather than being auditor generated, and is therefore less reliable. Management may wish to provide biased evidence in order to reduce the amount of liabilities in the financial statements. The auditors are unbiased and so evidence generated directly by them will be better.External evidence obtained from the company’s banks could be used to confirm the bank overdraft balances and this would be more independent than relying on management’s internal confirmations.(c)Daisy Designs Co (Daisy)(i)Daisy’s sales ledger has been corrupted by a computer virus; hence no detailed testing has been performed on revenue and receivables. The audit team will need to see if they can confirm revenue and receivables in an alternative manner.If they are unable to do this, then two significant balances in the financial statements will not have been confirmed.Revenue and receivables are both higher than the total profit before tax (PBT) of $2m; receivables are 170% of PBT and revenue is nearly eight times the PBT; hence this is a very material issue. (ii) Procedures to be adopted include:– Discuss with management whether they have any alternative records which detail revenue andreceivables for the year.– Attempt to perform analytical procedures, such as proof in total or monthly comparison to last year, to gain comfort in total for revenue and for receivables.(iii)The auditors will need to modify the audit report as they are unable to obtain sufficient appropriate evidence in relation to two material and pervasive areas, being receivables and revenue. Therefore a disclaimer of opinion will be required.A basis for disclaimer of opinion paragraph will be required to explain the limitation in relation to the lack of evidence over revenue and receivables. The opinion paragraph will be a disclaimer of opinion and will state that we are unable to form an opinion on the financial statements. Fuchsia Enterprises Co (Fuchsia)(i)Fuchsia is facing going concern problems as it has experienced difficult trading conditions and it has a negative cash outflow. However, the financial statements have been prepared on a going concern basis, even though it is possible that the company is not a going concern. The prior year financial statements showed a profit of $1·2m and the current financial statements show a loss before tax of $4·4m, the net cash outflow of $3·2m represents 73% of this loss(3·2/4·4m) and hence is a material issue.(ii) Management are confident that further funding can be obtained; however, the team is sceptical and so the following procedures should be adopted:– Discuss with management whether any finance has now been secured.– Review the correspondence with the finance provider to confirm the level of funding that is to be provided and this should be compared to the net cash outflow of $3·2m.– Review the most recent board minutes to understand whether management’s view on Fuchsia’s going concern has altered.– Review the cash flow forecasts for the year and assess the reasonableness of the assumptions adopted.(iii) If management refuse to amend the going concern basis of the financial statements or at the very least make adequate going concern disclosures, then the audit report will need to be modified. As the going concern basis is probably incorrect and the error is material and pervasive, then an adverse opinion would be necessary.A basis for adverse opinion paragraph will be required to explain the inappropriate use of the going concern assumption.The opinion paragraph will be an adverse opinion and will state that the financial statements do not give a true and fair view.。

ACCA就业前景需求量大，人数稀少ACCA会员目前在国内仅2.2万人，而作为高层管理高端型人才，以及越来越多的企业趋于国际化全球化的大变革中，企业对于ACCA的需求量是极大的。

ACCA是纯英文教材与考试、优势明显尽管由于ACCA的纯英文教材和纯英文考试使得很多中国学生望而却步，然而也正是因为有纯英文这个门槛，使得ACCA的优势凸显。

对于趋于国际化全球化的国内企业，一方面，企业做大就需要上市，通晓其他国家的会计制度以及税法商法的ACCA就很容易驾驭，帮助企业按照不同需求来做不同国家的上市准备。

另一方面，即便企业没有做大到需要上市，但是对于死守国内市场已不是发展的现状，走出国门，做国外市场或者与外资企业合作就成了必经之路。

在审核企业对于国外市场的入围资格以及企业的英文财务报表及报告是否符合外企合作条件，这些文件的制作以及审核对于ACCA来说是驾轻就熟的。

ACCA属于宏观统筹型人才相对于CICPA以及AICPA这种技术型人才，ACCA更偏重于管理以及统筹、预测及规划企业走向及企业未来发展。

这对于中国传统的应试教育来说是个非常好的互补，在获取知识用以解决实际问题这方面对于传统教学教育出来的学生是一次拓展思维训练的最好机会。

调查中发现，在招聘网站中，大部分要求具有ACCA资格的职位有财务总监(CFO)、总经理助理、董事长助理以及首席财务官。

这些职位要求应聘者不仅需要计算财务方面的专业知识，还需要有对于财务分析、部门配合、以及做出专业的报告让非财务人员理解并执行的能力。

且多数外企要求CFO需具备中英文两种语言能力，这对于中国学生来说也是极大的优势。

就业方向ACCA会员的认证资格已经广泛被国内各大企业认可。

就目前来看，ACCA国内就业前景一片大好。

中国地区的ACCA会员行业分布：61%分布在国内外不同行业的企业；24%分部在国内外大型事务所；11%进入金融机构从事金融方向的工作；4%的会员在其他行业发挥着他们的作用。