2020年ACCA考试必看：科目怎么搭配通过率更高

正确答案：
(b) Critical success factors are as follows:
Product quality
The fact that the production staff have no previous experience in a food production environment is likely to prove problematic.
It is vital that a comprehensive training programme is put in place at the earliest opportunity. HSC need to reach and maintain
the highest level of product quality as soon as possible.
Supply quality
The quality of delivery into SFG supermarkets assumes critical significance. Time literally will be of the essence since 90%
of all sandwiches are sold in SFG’s supermarkets before 2 pm each day. Hence supply chain management must be extremely
robust as there is very little scope for error.
Technical quality
Compliance with existing regulations regarding food production including all relevant factory health and safety requirements
is vital in order to establish and maintain the reputation of HSC as a supplier of quality products. The ability to store products
at the correct temperature is critical because sandwiches are produced for human consumption and in extreme circumstance
could cause fatalities.
External credibility
Accreditation by relevant trade associations/regulators will be essential if nationwide acceptance of HSC as a major producer
of sandwiches is to be established.
New product development
Whilst HSC have developed a range of healthy eating sandwiches it must be recognised that consumer tastes change and
that in the face of competition there will always be a need for a continuous focus on new product development.
Margin
Whilst HSC need to recognise all other critical success factors they should always be mindful that the need to obtain the
desired levels of gross and net margin remain of the utmost importance.
Notes: (i) Only five critical success factors were required.
(ii) Alternative relevant discussion and examples would be acceptable.

正确答案：
(ii) Vehicles
■ Agreeing opening ledger balances of cost and accumulated depreciation (and impairment losses) to the non-current
asset register to confirm the comparative amounts.
■ Physically inspecting a sample of vehicles (selected from the asset register) to confirm existence and condition (for
evidence of impairment). If analytical procedures use management information on mileage records this should be
checked (e.g. against milometers) at the same time.
■ Agreeing additions to purchase invoices to confirm cost.
■ Reviewing the terms of all lease contracts entered into during the year to ensure that finance leases have been
capitalised.
■ Agreeing the depreciation rates applied to finance lease assets to those applied to similar purchased assets.
■ Reviewing repairs and maintenance accounts (included in materials expense) to ensure that there are no material
items of capital nature that have been expensed (i.e. a test for completeness).

正确答案：
(c) Reduction of income tax liability by investing in unquoted shares
The two forms of investment
Income tax relief is available for investments in venture capital trusts (VCTs) and enterprise investment scheme (EIS) shares.
A VCT is a quoted company that invests in shares in a number of unquoted trading companies. EIS shares are shares in
qualifying unquoted trading companies.
Recommendation
The most suitable investment for Arthur and Cindy is a VCT for the following reasons.
– An investment in a VCT is likely to be less risky than investing directly in EIS companies as the risk will be spread over
a greater number of companies.
– The tax deduction is 40% of the amount invested as opposed to 20% for EIS shares.
– Dividends from a VCT are not taxable whereas dividends on EIS shares are taxed in the normal way.

正确答案：
(a)Therearefourelementstotheassistant’sdefinitionofanon-currentassetandheissubstantiallyincorrectinrespectofallofthem.Thetermnon-currentassetswillnormallyincludeintangibleassetsandcertaininvestments;theuseoftheterm‘physicalasset’wouldbespecifictotangibleassetsonly.Whilstitisusuallythecasethatnon-currentassetsareofrelativelyhighvaluethisisnotadefiningaspect.Awastepaperbinmayexhibitthecharacteristicsofanon-currentasset,butonthegroundsofmaterialityitisunlikelytobetreatedassuch.Furthermorethepastcostofanassetmaybeirrelevant;nomatterhowmuchanassethascost,itistheexpectationoffutureeconomicbenefitsflowingfromaresource(normallyintheform.offuturecashinflows)thatdefinesanassetaccordingtotheIASB’sFrameworkforthepreparationandpresentationoffinancialstatements.Theconceptofownershipisnolongeracriticalaspectofthedefinitionofanasset.Itisprobablythecasethatmostnoncurrentassetsinanentity’sstatementoffinancialpositionareownedbytheentity;however,itistheabilityto‘control’assets(includingpreventingothersfromhavingaccesstothem)thatisnowadefiningfeature.Forexample:thisisanimportantcharacteristicintreatingafinanceleaseasanassetofthelesseeratherthanthelessor.Itisalsotruethatmostnon-currentassetswillbeusedbyanentityformorethanoneyearandapartofthedefinitionofproperty,plantandequipmentinIAS16Property,plantandequipmentreferstoanexpectationofuseinmorethanoneperiod,butthisisnotnecessarilyalwaysthecase.Itmaybethatanon-currentassetisacquiredwhichprovesunsuitablefortheentity’sintendeduseorisdamagedinanaccident.Inthesecircumstancesassetsmaynothavebeenusedforlongerthanayear,butneverthelesstheywerereportedasnon-currentsduringthetimetheywereinuse.Anon-currentassetmaybewithinayearoftheendofitsusefullifebut(unlessasaleagreementhasbeenreachedunderIFRS5Non-currentassetsheldforsaleanddiscontinuedoperations)wouldstillbereportedasanon-currentassetifitwasstillgivingeconomicbenefits.Anotherdefiningaspectofnon-currentassetsistheirintendedusei.e.heldforcontinuinguseintheproduction,supplyofgoodsorservices,forrentaltoothersorforadministrativepurposes.(b)(i)TheexpenditureonthetrainingcoursesmayexhibitthecharacteristicsofanassetinthattheyhaveandwillcontinuetobringfutureeconomicbenefitsbywayofincreasedefficiencyandcostsavingstoDarby.However,theexpenditurecannotberecognisedasanassetonthestatementoffinancialpositionandmustbechargedasanexpenseasthecostisincurred.Themainreasonforthislieswiththeissueof’control’;itisDarby’semployeesthathavethe‘skills’providedbythecourses,buttheemployeescanleavethecompanyandtaketheirskillswiththemor,throughaccidentorinjury,maybedeprivedofthoseskills.AlsothecapitalisationofstafftrainingcostsisspecificallyprohibitedunderInternationalFinancialReportingStandards(specificallyIAS38Intangibleassets).(ii)Thequestionspecificallystatesthatthecostsincurredtodateonthedevelopmentofthenewprocessorchipareresearchcosts.IAS38statesthatresearchcostsmustbeexpensed.Thisismainlybecauseresearchistherelativelyearlystageofanewprojectandanyfuturebenefitsaresofarinthefuturethattheycannotbeconsideredtomeetthedefinitionofanasset(probablefutureeconomicbenefits),despitethegoodrecordofsuccessinthepastwithsimilarprojects.Althoughtheworkontheautomaticvehiclebrakingsystemisstillattheresearchstage,thisisdifferentinnaturefromthepreviousexampleastheworkhasbeencommissionedbyacustomer,Assuch,fromtheperspectiveofDarby,itisworkinprogress(acurrentasset)andshouldnotbewrittenoffasanexpense.Anoteofcautionshouldbeaddedhereinthatthequestionsaysthatthesuccessoftheprojectisuncertainwhichpresumablymeansitmaynotbecompleted.ThisdoesnotmeanthatDarbywillnotreceivepaymentfortheworkithascarriedout,butitshouldbecheckedtothecontracttoensurethattheamountithasspenttodate($2·4million)willberecoverable.Intheeventthatsay,forexample,thecontractstatedthatonly$2millionwouldbeallowedforresearchcosts,thiswouldplacealimitonhowmuchDarbycouldtreatasworkinprogress.Ifthiswerethecasethen,forthisexample,Darbywouldhavetoexpense$400,000andtreatonly$2millionasworkinprogress.(iii)Thequestionsuggeststhecorrecttreatmentforthiskindofcontractistotreatthecostsoftheinstallationasanon-currentassetand(presumably)depreciateitoveritsexpectedlifeof(atleast)threeyearsfromwhenitbecomesavailableforuse.Inthiscasetheassetwillnotcomeintouseuntilthenextfinancialyear/reportingperiodandnodepreciationneedstobeprovidedat30September2009.Thecapitalisedcoststodateof$58,000shouldonlybewrittendownifthereisevidencethattheassethasbecomeimpaired.Impairmentoccurswheretherecoverableamountofanassetislessthanitscarryingamount.Theassistantappearstobelievethattherecoverableamountisthefutureprofit,whereas(inthiscase)itisthefuture(net)cashinflows.Thusanyimpairmenttestat30September2009shouldcomparethecarryingamountof$58,000withtheexpectednetcashflowfromthesystemof$98,000($50,000perannumforthreeyearslessfuturecashoutflowstocompletiontheinstallationof$52,000(seenotebelow)).Asthefuturenetcashflowsareinexcessofthecarryingamount,theassetisnotimpairedanditshouldnotbewrittendownbutshownasanon-currentasset(underconstruction)atcostof$58,000.Note:asthecontractisexpectedtomakeaprofitof$40,000onincomeof$150,000,thetotalcostsmustbe$110,000,withcoststodateat$58,000thisleavescompletioncostsof$52,000.