在四川省，ACCA考试通过了你不这样做你还是不能拿到证书

正确答案：
(a) Under IAS18 ‘Revenue’, revenue on a service contract is recognised when the outcome of the transaction can be measured
reliably. For revenue arising from the rendering of services, provided that all of the following criteria are met, revenue should
be recognised by reference to the stage of completion of the transaction at the balance sheet date (the percentage-ofcompletion
method) (IAS18 para 20):
(a) the amount of revenue can be measured reliably;
(b) it is probable that the economic benefits will flow to the seller;
(c) the stage of completion at the balance sheet date can be measured reliably; and
(d) the costs incurred, or to be incurred, in respect of the transaction can be measured reliably.
When the above criteria are not met, revenue arising from the rendering of services should be recognised only to the extent
of the expenses recognised that are recoverable. Because the only revenue which can be measured reliably is the fee for
making the film ($5 million), this should therefore be recognised as revenue in the year to 31 May 2007 and matched against
the cost of the film of $4 million. Only when the television company shows the film should any further amounts of $100,000
be recognised as there is an outstanding ‘performance’ condition in the form. of the editing that needs to take place before the
television company will broadcast the film. The costs of the film should not be carried forward and matched against
anticipated future income unless they can be deemed to be an intangible asset under IAS 38 ‘Intangible Assets’. Additionally,
when assessing revenue to be recognised in future years, the costs of the editing and Router’s liability for these costs should
be assessed.

正确答案：
(b) There are several issues which need to be addressed when developing IFRSs for SMEs:
(i) The purpose of the standards and type of entity
The principal aim of the development of an accounting framework for SMEs is to provide a framework which generates
relevant, reliable and useful information. The standards should provide high quality and understandable accounting
standards suitable for SMEs globally. Additionally they should meet the needs set out in (a) above. For example reduce
the financial reporting burden for SMEs. It is unlikely that one of the objectives would be to provide information for
management or meet the needs of the tax authorities as these bodies will have specific requirements which would be
difficult to meet in an accounting standard. However, it is likely that the standards for SMEs will be a modified version
of the full IFRSs and not an independently developed set of standards in order that they are based on the same
conceptual framework and will allow easier transition to full IFRS if the SME grows or decides to become a publicly listed
entity.
It is important to define the type of entity for which the standards are intended. Companies who have issued shares to
the public would be expected to use full IFRS. The question arises as to whether SME standards should apply to all
unlisted entities or just those listed entities below a certain size threshold. The difficulty with size criteria is that it would
have to apply worldwide and it would be very difficult to specify such criteria. Additionally some unlisted companies, for
example public utilities, have a reporting obligation that is equivalent to that of a listed company and should follow full
IFRS.
The main characteristic which distinguishes SMEs from other entities is the degree of public accountability. Thus the
definition of what constitutes an SME could revolve around those entities that do not have public accountability.
Indicators of public accountability will have to be developed. For example, a listed company or companies holding assets
in a fiduciary capacity (bank), or a public utility, or an entity with economic significance in its country. Thus all entities
that do not have public accountability may be considered as potential users of IFRSs for SMEs.
Size may not be the best way to determine what is an SME. SMEs could be defined by reference to ownership and themanagement of the entity. SMEs are not necessarily just smaller versions of public companies.

正确答案：
(ii) Accountability to equity investors
Voluntary disclosures are an effective way of redressing the information asymmetry that exists between management and
investors. In adding to mandatory content, voluntary disclosures give a fuller picture of the state of the company.
More information helps investors decide whether the company matches their risk, strategic and ethical criteria, and
expectations.
Makes the annual report more forward looking (predictive) whereas the majority of the numerical content is backward
facing on what has been.
Helps transparency in communicating more fully thereby better meeting the agency accountability to investors,
particularly shareholders.
There is a considerable amount of qualitative information that cannot be conveyed using statutory numbers (such as
strategy, ethical content, social reporting, etc).
Voluntary disclosure gives a more rounded and more complete view of the company, its activities, strategies, purposes
and values.
Voluntary disclosure enables the company to address specific shareholder concerns as they arise (such as responding
to negative publicity).
[Tutorial note: other valid points will attract marks]