什么？辽宁省考生2020年ACCA考试不知道看什么书？那么下面的教材宝典你必须收藏

正确答案：
(c) (i) Protection products
Henry is still working and has a mortgage to support. He therefore needs to protect not only his assets but also cover
any debt, or the ability to repay. The following protection policies are relevant to Henry’s situation.
Life assurance
This is a form. of insurance that pays out on a chargeable event, usually death. The main types are:
– Term Assurance which provides cover for a fixed term with the sum assured payable only on death. No investment
benefits or payments arise on survival.
– Whole of Life Assurance where the policy provides life protection. The sum assured is payable on death at any time
and usually some form. of investment benefit will accrue in the form. of a surrender value.
A qualifying policy will give a tax-free lump sum that could, for example, be used to repay the mortgage.
Permanent health insurance
Permanent health insurance policies are designed to provide the policyholder with a benefit if s/he is unable to work
through sickness or if s/he needs medical expenses or long-term care.
This would provide Henry with an income in the event of illness – again useful given his mortgage, and would avoid
the need to liquidate other assets to pay the mortgage or ongoing costs.
Critical illness insurance
These policies provide a capital sum where a critical illness (from a large range listed in the policy) is diagnosed.
For the same reasons above, Henry should consider this in conjunction with permanent health insurance.
Note: Marks will also be given for other relevant protection products, e.g. specific mortgage protection insurance linked
to an event other than death.

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(c) Corporate governance provisions varying by country
There is a debate about the extent to which corporate governance provisions (in the form. of either written codes, laws or
general acceptances) should be global or whether they should vary to account for local differences. In this answer, Vincent
Viola’s view is critically evaluated.
In general terms, corporate governance provisions vary depending on such factors as local business culture, businesses’
capital structures, the extent of development of capital funding of businesses and the openness of stock markets. In Germany,
for example, companies have traditionally drawn much of their funding from banks thereby reducing their dependence on
shareholders’ equity. Stock markets in the Soviet Union are less open and less liquid than those in the West. In many
developing countries, business activity is concentrated among family-owned enterprises.
Against Vincent’s view
Although business cultures vary around the world, all business financed by private capital have private shareholders. Any
dilution of the robustness of provisions may ignore the needs of local investors to have their interests adequately represented.
This dilution, in turn, may allow bad practice, when present, to exist and proliferate.
Some countries suffer from a poor reputation in terms of endemic corruption and fraud and any reduction in the rigour with
which corporate governance provisions are implemented fail to address these shortcomings, notwithstanding the fact that they
might be culturally unexpected or difficult to implement.
In terms of the effects of macroeconomic systems, Vincent’s views ignore the need for sound governance systems to underpin
confidence in economic systems. This is especially important when inward investment needs are considered as the economic
wealth of affected countries are partly underpinned by the robustness, or not, of their corporate governance systems.
Supporting Vincent’s view
In favour of Vincent’s view are a number of arguments. Where local economies are driven more by small family businesses
and less by public companies, accountability relationships are quite different (perhaps the ‘family reasons’ referred to in the
case) and require a different type of accounting and governance.
There is a high compliance and monitoring cost to highly structured governance regimes that some developing countries may
deem unnecessary to incur.
There is, to some extent, a link between the stage of economic development and the adoption of formal governance codes.
It is generally accepted that developing countries need not necessarily observe the same levels of formality in governance as
more mature, developed economies.
Some countries’ governments may feel that they can use the laxity of their corporate governance regimes as a source of
international comparative advantage. In a ‘race to the bottom’, some international companies seeking to minimise the effects
of structured governance regimes on some parts of their operations may seek countries with less tight structures for some
operations.

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2 Overview:
The accountant is frequently the manager or group leader. An understanding of leadership theory and practice is therefore an
important part of an accountant’s training.
Part (a):
Robert Blake and Jane Mouton in their Ohio State Leadership Studies, observed two basic leadership dimensions that were
apparent from their studies; concern for the task and concern for people.
They recognised that it was possible for concern for the task to be independent of concern for people. It was therefore possible for
a leader to be strong on one and weak on the other, strong on both, weak on both or any variation in between.
They devised a series of questions, the answers to which enabled them to plot these two basic leadership dimensions. These two
dimensions were placed as the axes on a grid structure now known as the Managerial Grid. A person who scores 7 on ‘concern
for production’ (the x axis) and 5 on ‘concern for people’ (the y axis) is known as a 7,5 leader.

正确答案：
(b) The major characteristics of services which distinguish services from manufacturing are as follows:
– Intangibility.
When a dentist provides a service to a client there are many intangible factors involved such as for example the
appearance of the surgery, the personality of the dentist, the manner and efficiency of the dental assistant. The output
of the service is ‘performance’ by the dentist as opposed to tangible goods.
– Simultaneity.
The service provided by the dentist to the patient is created by the dentist at the same time as the patient consumed it
thus preventing any advance verification of quality.
– Heterogeneity.
Many service organisations face the problem of achieving consistency in the quality of its output. Whilst each of the
dentists within the Dental Health Partnership will have similar professional qualifications there will be differences in the
manner they provide services to clients.
– Perishability.
Many services are perishable. The services of a dentist are purchased only for the duration of an appointment.