我现在本科大三，请问可以报考2020年的ACCA吗？

正确答案：
(b) Financial statement risks
Assets
■ There is a very high risk that inventory could be materially overstated in the balance sheet (thereby overstating profit)
because:
? there is a high volume of metals (hence material);
? valuable metals are made more portable;
? subsidy gives an incentive to overstate purchases (and hence inventory);
? inventory may not exist due to lack of physical controls (e.g. aluminium can blow away);
? scrap metal in the stockyard may have zero net realisable value (e.g. iron is rusty and slow-moving);
? quantities per counts not attended by an auditor have increased by a third.
■ Inventory could be otherwise misstated (over or under) due to:
? the weighbridge being inaccurate;
? metal qualities being estimated;
? different metals being mixed up; and
? the lack of an independent expert to identify/measure/value metals.
■ Tangible non-current assets are understated as the parts of the furnaces that require replacement (the linings) are not
capitalised (and depreciated) as separate items but treated as repairs/maintenance/renewals and expensed.
■ Cash may be understated due to incomplete recording of sales.
■ Recorded cash will be overstated if it does not exist (e.g. if it has been stolen).
■ Trade receivables may be understated if cash receipts from credit customers have been misappropriated.
Liabilities
■ The provision for the replacement of the furnace linings is overstated by the amount provided in the current and previous
year (i.e. in its entirety).
Tutorial note: Last replacement was two years ago.
Income statement
■ Revenue will be understated in respect of unrecorded cash sales of salvaged metals and ‘clinker’.
■ Scrap metal purchases (for cash) are at risk of overstatement:
? to inflate the 15% subsidy;
? to conceal misappropriated cash.
■ The income subsidy will be overstated if quantities purchased are overstated and/or overvalued (on the quarterly returns)
to obtain the amount of the subsidy.
■ Cash receipts/payments that were recorded only in the cash book in November are at risk of being unrecorded (in the
absence of cash book postings for November), especially if they are of a ‘one-off’ nature.
Tutorial note: Cash purchases of scrap and sales of salvaged metal should be recorded elsewhere (i.e. in the manual
inventory records). However, a one-off expense (of a capital or revenue nature) could be omitted in the absence of
another record.
■ Expenditure is overstated in respect of the 25% provision for replacing the furnace linings. However, as depreciation
will be similarly understated (as the furnace linings have not been capitalised) there is no risk of material misstatement
to the income statement overall.
Disclosure risk
■ A going concern (‘failure’) risk may arise through the loss of:
? sales revenue (e.g. through misappropriation of salvaged metals and/or cash);
? the subsidy (e.g. if returns are prepared fraudulently);
? cash (e.g. if material amounts stolen).
Any significant doubts about going concern must be suitably disclosed in the notes to the financial statements.
Disclosure risk arises if the requirements of IAS 1 ‘Presentation of Financial Statements’ are not met.
■ Disclosure risk arises if contingent liabilities in connection with the dumping of ‘clinker’ (e.g. for fines and penalties) are
not adequately disclosed in accordance with IAS 37 ‘Provisions, Contingent Liabilities and Contingent Assets’.
Appropriate audit approach
Tutorial note: In explaining why AN audit approach is appropriate for Indigo it can be relevant to comment on the
unsuitability of other approaches.
■ A risk-based approach is suitable because:
? inherent risk is high at the entity and financial assertion levels;
? material errors are likely to arise in inventory where a high degree of subjectivity will be involved (regarding quality
of metals, quantities, net realisable value, etc);
? it directs the audit effort to inventory, purchases, income (sales and subsidy) and other risk areas (e.g. contingent
liabilities).
■ A systems-based/compliance approach is not suited to the risk areas identified because controls are lacking/ineffective
(e.g. over inventory and cash). Also, as the audit appointment was not more than three months ago and no interim
audit has been conducted (and the balance sheet date is only three weeks away) testing controls is likely to be less
efficient than a substantive approach.
■ A detailed substantive/balance sheet approach would be suitable to direct audit effort to the appropriate valuation of
assets (and liabilities) existing at balance sheet date. Principal audit work would include:
? attendance at a full physical inventory count at 31 December 2005;
? verifying cash at bank (through bank confirmation and reconciliation) and in hand (through physical count);
? confirming the accuracy of the quarterly returns to the local authority.
■ A cyclical approach/directional testing is unlikely to be suitable as cycles are incomplete. For example the purchases
cycle for metals is ‘purchase/cash’ rather than ‘purchase/payable/cash’ and there is no independent third party evidence
to compensate for that which would be available if there were trade payables (i.e. suppliers’ statements). Also the cycles
are inextricably inter-related to cash and inventory – amounts of which are subject to high inherent risk.
■ Analytical procedures may be of limited use for substantive purposes. Factors restricting the use of substantive analytical
procedures include:
? fluctuating margins (e.g. as many factors will influence the price at which scrap is purchased and subsequently
sold, when salvaged, sometime later);
? a lack of reliable/historic information on which to make comparisons.

正确答案：
(c) From the information given in the scenario, DPP will face significant problems if it chooses to develop a greenfield site. The
bureaucratic planning procedures adopted by the host government can add considerable time to get an efficient plant up and
running. In some ways, such governments are in a dilemma, anxious to secure foreign direct investment, but at the same
time protect inefficient domestic manufacturers. Certainly, DPP in its own risk assessment would need to take political risk
into account. In assessing the risks of a greenfield site, Ken could use Porter’s ‘diamond’ to good effect. Factor conditions
might be seen as quite favourable, with an educated, trained, albeit low productivity, labour force. However, the lack of
demanding tough global customers, a weak and inefficient domestic industry to supply the new venture and competitors who
have been highly protected mean that DPP will have to battle to create a supportive and sustaining environment. Financial
exposure may be increased through currency risk.
Clearly, the fresh start will allow integrated information systems to be developed and the latest technology to be used.
However, the new capacity will have a significant impact on DPP’s existing plants. The extent to which expatriate
management is used is clearly an issue. The host government is likely to require some commitment to the training of local
management and the degree of autonomy given to the new plant may well be an issue. Cultural issues and sensitivities will
be significant – often shop floor workers and managers will be used to high levels of absenteeism being tolerated in
government owned and controlled firms. Also the issue of involvement and participation could be an issue – there may be a
marked reluctance on the shop floor to contribute ideas towards raising productivity and quality. DPP is part of a group that
has experience of operating abroad and there is a real need to access information on key problems in greenfield operations.
In many ways the move to a greenfield site links the macro environmental analysis generated by a SLEPT or PEST to five
forces industry analysis with its focus on customers, competitors and suppliers. Certainly, creating an integrated value chain
with DPP’s existing business will be a real challenge to the management. It also adds capacity to a European industry where
there is already a problem. Choosing between the two options to achieve the strategic goal of a lower cost base can be doneusing the tests of suitability, acceptability and feasibility. The decision will not be an easy one.

正确答案：

5 The way in which managers’ duties are undertaken can significantly influence the satisfaction that employees derive from their work. Abraham Maslow suggested that individuals have a hierarchy of personal needs which are identifiable, universally applicable and can be satisfied in the workplace. Understanding this concept provides guidance to management as to the appropriateness of
motivational techniques.
(a) Maslow’s theory of motivation is a content theory. Its basic idea is that each individual has a set of needs which have to be
satisfied in a set order of priority.
Maslow suggested that individuals have five needs:
Self-actualisation
(or self fulfilment)
Esteem needs
(or ego)
Social needs
Safety needs
Physiological needs
These needs are arranged in a hierarchy of importance and movement is upwards, from physiological needs to selfactualisation.Any individual will always want more; each need must be satisfied before the next is sought. However – andcritically so far as motivation in the workplace is concerned – a satisfied need is no longer a motivator.
The theory is usually presented in the shape of a triangle, with physiological needs at its base and self-actualisation at itsapex. The triangle shape has a clear significance. As an individual moves up toward the apex, the needs thin out, that isphysiological needs are far greater than self-actualisation needs. For many individuals, reaching social needs is often thehighest need to be satisfied. The theory is sometimes presented as a staircase; again with self-actualisation at the top. Thissecond diagrammatic form. reflects the application of the theory to more modern situations, where it can reasonably beassumed that those within the organisation have already achieved physiological and safety needs. For such individuals, socialand esteem needs may well be greater.
Physiological needs are the basic survival needs which, although part of the theory, probably have less relevance today. Theseneeds are usually seen as food, shelter (which is sometimes noted as a safety need), warmth and clothing.
Safety needs are the desire for security, order, certainty and predictability in life and freedom from threat. The above two so-called ‘lower order needs’ dominate until satisfied.
Social needs are the gregarious needs of mankind, the need for friendship, relationships and affection. This is often seen as the desire to be part of a family.
Esteem needs are the desire for recognition and respect, often associated with status, especially in the modern world.
Self-actualisation (self fulfilment) is the ultimate goal. Once this state is achieved the individual has fulfilled personal potential.
However, later work by Maslow has suggested that there are two additional needs; freedom of enquiry (free speech and justice) and knowledge (the need to explore and learn). These additional needs are a further development of social needs and recognise the changing nature of modern life.