重磅消息：听说西藏ACCA考试有免考？你得有这些条件哦

正确答案：
(ii) Former administrative building
The land and buildings of the former administrative centre are accounted for as separate elements. The demolition of the
building is an indicator of the impairment of the property under IAS36. The building will not generate any future cash flows
and its recoverable amount is zero. Therefore, the carrying value of the building will be written down to zero and the loss
charged to profit or loss in the year to 31 May 2006 when the decision to demolish the building was made. The land value
will be in excess of its carrying amount as the company uses the cost model and land prices are rising. Thus no impairment
charge is recognised in respect of the land.
The demolition costs will be expensed when incurred and a provision for environmental costs recognised when an obligation
arises, i.e. in the financial year to 31 May 2007. It may be that some of these costs could be recognised as site preparation
costs and be capitalised under IAS16.
The land will not meet the criteria set out in IFRS5 ‘Non-current Assets Held for Sale and Discontinued Operations’ as a noncurrent
asset which is held for sale. IFRS5 says that a non-current asset should be classified as ‘held for sale’ if its carrying
amount will be recovered principally through a sale transaction rather than through continuing use. However, the non-current
asset must be available for immediate sale and must be actively marketed at its current fair value (amongst other criteria) and
these criteria have not been met in this case.
When the building has been demolished and the site prepared, the land could be considered to be an investment property
and accounted for under IAS40 ‘Investment Property’ where the fair value model allows gains (or losses) to be recognised inprofit or loss for the period.

正确答案：
(b) Wallace Co
Being the audit manager, Valerie Hobson is clearly in a position to influence the outcome of the audit. She appears to have
entered into a private commercial transaction with her client. IFAC’s Code of Ethics for Professional Accountants does not
prohibit such commercial transactions so long as they are:
– In the normal course of business,
– At arm’s length, and
– The value is not material to either party.
In this case the transaction is in the normal course of business for the client. Rental of storage space is not the main business
of Wallace Co, but it appears that this type of transaction is quite common for the company. However the note on the invoice
indicates that a substantial discount has been offered and accepted, and so the transaction is not at arm’s length. The value
is not material to Wallace Co, but could represent a significant discount to normal commercial terms to the audit manager.
Goods and services can be received from an audit client, but only if the value is clearly insignificant.
A self-interest threat is clearly established. Valerie Hobson is benefiting financially from her position as audit manager. She
may compromise the audit approach – which has recently been planned – and furthermore she may compromise the audit
opinion to keep the client happy. She may also have other audit clients where bias could have occurred.
Action to be taken:
– The ethics partner will need to evaluate whether the value of the transaction and the discount received is ‘clearly
insignificant’.
– Her benefiting from a discount on services provided by Wallace Co, which was not disclosed, could result in disciplinary
action.
– Valerie should be removed from the audit immediately, and a new audit manager assigned to Wallace Co.
– The audit planning for year ended 31 May 2008 should be subject to independent review and amendments made where
necessary.
– The transaction should be disclosed to the audit committee of Wallace Co, or to those charged with governance.
– The ethics partner may wish to consider Valerie’s relationships with other audit clients for any evidence of transactions
or other indicators of potential bias.

正确答案：
(e) There are issues at Bailey’s as a consequence of poor pay. Although non-financial motivation has an important role to play in encouraging commitment, the fact remains that financial rewards act as a strong motivating factor, especially in what has been a low pay business. Financial rewards are all encompassing and apply to all employees at all levels, are universally applicable, able to satisfy all types of need and simple to apply and understand. At Bailey’s, financial rewards have a greater effect because they can provide recognition and prestige if pay is improved, are seen as the most important hygiene factor(especially in a business with a history of low pay and low morale) and are a measure of achievement against goals, especially if some form. of bonus or performance related pay is introduced by the new management at Bailey’s. In addition, financial rewards are a basis for satisfaction and are often used as a form. of professional or social comparison outside the organisation.