给ACCA考生的十大考试建议，必看！

正确答案：
(b) Advice on Maureen’s VAT position
Deregistration
In order to voluntarily deregister for VAT you must satisfy HMRC that the value of your taxable supplies in the next twelve
months will not exceed ￡62,000. You will then be deregistered with effect from the date of your request or a later date as
agreed with HMRC.
On deregistering you are regarded as making a supply of all stocks and equipment in respect of which input tax has been
claimed. However, the VAT on this deemed supply need only be paid to HMRC if it exceeds ￡1,000.
Once you have deregistered, you must no longer charge VAT on your sales. You will also be unable to recover the input tax
on the costs incurred by your business. Instead, the VAT you pay on your costs will be allowable when computing your taxable
profits.
You should monitor your sales on a monthly basis; if your sales in a twelve-month period exceed ￡64,000 you must notify
HMRC within the 30 days following the end of the twelve-month period. You will be registered from the end of the month
following the end of the twelve-month period.
Flat rate scheme
Rather than deregistering you may wish to consider operating the flat rate scheme. This would reduce the amount of
administration as you would no longer need to record and claim input tax in respect of the costs incurred by your business.
Under the flat rate scheme you would continue to charge your customers VAT in the way that you do at the moment. You
would then pay HMRC a fixed percentage of your VAT inclusive turnover each quarter rather than calculating output tax less
input tax. This may be financially advantageous as compared with deregistering; I would be happy to prepare calculations for
you if you wish.

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.

正确答案：

(c) (i) For the secrecy option
Important developments at SHC
This is an exciting time for the management and shareholders of Swan Hill Company. The research and development
staff at SHC have made a groundbreaking discovery (called the ‘sink method’) that will enable your company to produce
its major product at lower cost, in higher volumes and at a much higher quality than our competitors will be able to
using, as they do, the existing production technology. The sink process also produces at a lower rate of environmental
emissions which, as I’m sure shareholders will agree, is a very welcome development.
When considering the options following the discovery, your board decided that we should press ahead with the
investment needed to transform. the production facilities without offering the use of the technology to competitors under
a licensing arrangement. This means that once the new sink production comes on stream, SHC shareholders can, your
board believes, look forward to a significant strengthening of our competitive position.
The business case for this option is overwhelming. By pushing ahead with the investment needed to implement the sink
method, the possibility exists to gain a substantial competitive advantage over all of SHC’s competitors. It will place SHC
in a near monopolist position in the short term and in a dominant position long term. This will, in turn, give the company
pricing power in the industry and the likelihood of superior profits for many years to come. We would expect SHC to
experience substantial ‘overnight’ growth and the returns from this will reward shareholders’ loyalty and significantly
increase the value of the company. Existing shareholders can reasonably expect a significant increase in the value of
their holdings over the very short term and also over the longer term.
Ethical implications of the secrecy option
In addition to the overwhelming business case, however, there is a strong ethical case for the secrecy option. SHC
recognises that it is the moral purpose of SHC to make profits in order to reward those who have risked their own money
to support it over many years. Whilst some companies pursue costly programmes intended to serve multiple stakeholder
interests, SHC recognises that it is required to comply with the demands of its legal owners, its shareholders, and not
to dilute those demands with other concerns that will reduce shareholder returns. This is an important part of the agency
relationship: the SHC board will always serve the best economic interests of its shareholders: its legal owners. The SHC
board believes that any action taken that renders shareholder returns suboptimal is a threat to shareholder value and an
abuse of the agency position. Your board will always seek to maximise shareholder wealth; hence our decision to pursue
the secrecy option in this case. The secrecy option offers the possibility of optimal shareholder value and because
shareholders invest in SHC to maximise returns, that is the only ethical action for the board to pursue. Happily, this
option will also protect the employees’ welfare in SHC’s hometown of Swan Hill and demonstrate its commitment to the
locality. This, in turn, will help to manage two of the key value-adding resources in the company, its employees and its
reputation. This will help in local recruitment and staff retention in future years.
(ii) For the licensing option
Important developments at SHC
Your board was recently faced with a very difficult business and ethical decision. After the discovery by SHC scientists
of the groundbreaking sink production method, we had a choice of keeping the new production technology secret or
sharing the breakthrough under a licensing arrangement with our competitors. After a lengthy discussion, your board
decided that we should pursue the licensing option and I would like to explain our reasons for this on both business and
ethical grounds.
In terms of the business case for licensing, I would like shareholders to understand that although the secrecy option may
have offered SHC the possibility of an unassailable competitive advantage, in reality, it would have incurred a number
of risks. Because of the speed with which we would have needed to have acted, it would have necessitated a large
increase in our borrowing, bringing about a substantial change in our financial structure. This would, in turn, increase
liquidity pressures and make us more vulnerable to rising interest rates. A second risk with the secrecy option would
involve the security of the sink technology ‘secret’. If the sink process was leaked or discovered by competitors and
subsequently copied, our lack of a legally binding patent would mean we would have no legal way to stop them
proceeding with their own version of the sink process.
As well as avoiding the risks, however, the licensing option offers a number of specific business advantages. The royalties
from the licences granted to competitors are expected to be very large indeed. These will be used over the coming years
to extend our existing competitive advantage in the future. Finally, the ‘improvement sharing’ clause in the licensing
contract will ensure that the sink process will be improved and perfected with several manufacturers using the
technology at the same time. SHC’s sink production may, in consequence, improve at a faster rate than would have
been the case were we to have pursued the secrecy option.
Ethical implications of the licensing option
In addition to the business case, there is also a powerful ethical case for the decision we have taken. As a good,
responsible corporate citizen, Swan Hill Company acknowledges its many stakeholders and recognises the impacts that
a business decision has on others. Your board recognises that in addition to external stakeholders having influence over
our operations, our decisions can also affect others. In this case, we have carefully considered the likelihood that keeping
the new technology a secret from our competitors would radically reshape the industry. The superior environmental
performance of the sink process over existing methods will also mean that when fully adopted, the environmental
emissions of the entire industry will be reduced. SHC is very proud of this contribution to this reduction in overall
environmental impact.
There seems little doubt that the secrecy option would have had far-reaching and unfortunate effects upon our industry
and our competitors. The licensing option will allow competitors, and their employees and shareholders, to survive. It
is a compassionate act on our part and shows mercy to the other competitors in the industry. It recognises the number
of impacts that a business decision has and would be the fairest (and most just) option given the number of people
affected.