上海市考生注意：怎么才能避免ACCA考试失分?

正确答案：
(c) Absolutism and relativism
Absolutism and relativism represent two extreme positions of ethical assumptions.
Definitions
An absolutist assumption is one that believes that there are ‘eternal’ rules that should guide all ethical and moral decision
making in all situations. Accordingly, in any given situation, there is likely to be one right course of action regardless of the
outcome. An absolutist believes that this should be chosen regardless of the consequences or the cost. A dogmatic approach
to morality is an example of an absolutist approach to ethics. A dogmatic assumption is one that is accepted without
discussion or debate.
Relativist assumptions are ‘situational’ in nature. Rather than arguing that there is a single right choice, a relativist will tend
to adopt a pragmatic approach and decide, in the light of the situation being considered, which is the best outcome. This will
involve a decision on what outcome is the most favourable and that is a matter of personal judgment.
Outcomes
If Anne were to adopt absolutist/dogmatic assumptions, she would be likely to decide that she would need to pursue what
she perceives is the right course of action regardless of cost to herself or the relationship with the client or her manager. Given
that she unearthed a suspect and unaccounted-for payment, and that she received an inadequate explanation from the client,
she would probably recommend extension to the audit beyond the weekend.
If Ann were to adopt relativist or pragmatic assumptions, she would have a potentially much more complicated decision to
make. She would have to decide whether it was more important, ethically, to yield to the pressure from Zachary in the
interests of her short-term career interests or ‘hold out’ to protect the interests of the shareholders. Anne could recommend
sign off and trust the FD’s explanation but she is more likely to seek further evidence or assurance from the company before
she does so.

正确答案：
(b) Principal additional information
■ Any service contracts with the directors or other members of the management team (e.g. the quantity surveyor). These
may contain ‘exit’ or other settlement terms in the event that their services are no longer required after a takeover/buyout.
■ Prior period financial statements (to 30 June 2005) disclosing significant accounting policies and the key assumptions
concerning the future (and other key sources of estimation uncertainty) that have a significant risk of causing a material
adjustment to the carrying amounts of assets and liabilities in the year to 30 June 2006.
For example, concerning:
– the outcome on the Sarwar dispute;
– estimates for guarantees/claims for rectification;
– assumptions made in estimating costs to completion (e.g. for increases in costs of materials or labour).
Tutorial note: Under IAS 1 ‘Presentation of Financial Statements’ the judgements made by management that have the
most significant effect on amounts recognised in financial statements (other than those involving estimations) should
also be disclosed.
■ The most recent management accounts and cash flow forecasts to assess the quality of management information being
used for decision-making and control. In particular, in providing Robson with the means of keeping its cash flows within
its overdraft limit.
Tutorial note: Note that Prescott has substantial cash resources. Therefore Robson’s lack of finance might be a reason
why its management are interested in selling the business.
■ A copy of the signed bank agreement for the overdraft facility (and any other agreements with finance providers). Any
breaches in debt covenants might result in penalties of contingent liabilities that Prescott would have to bear if it acquired
Robson.
■ The standard terms of contracts with customers for construction works. In particular, for:
– guarantees given (e.g. for rectification under warranty);
– penalty clauses (e.g. in the event of overruns or non-completion);
– disclaimers (including conditions for invoking force majeure).
Prescott will want to make some allowance for settlement of liabilities arising on contracts already completed/in-progress
when offering a price for Robson.
Tutorial note: A takeover might excuse Robson from fulfilling a contract.
■ Legal/correspondence files dealing with matters such as the claims of the residents of the housing development and
Robson’s claim against Sarwar Services Co. Also, fee notes rendered by Robson’s legal advisers showing the costs
incurred on matters referred to them.
■ Robson’s insurer’s ‘cover note’ to determine Robson’s exposure to claims for rectification work, damages, injuries to
employees, etc.
■ The quantity surveyor’s working papers for the last quarterly count (presumably at 31 March 2006) and the latest
available rolling budgets. Particular attention should be given to loss-making contracts and contracts that have not been
started. (Prescott might seek to settle rather than fulfil them.) The pattern of taking profits on contracts will be of
interest, for example, to determine the accuracy of the quantity surveyor’s estimates.
Tutorial note: A regular pattern of taking too much profit too soon might be due to underestimating costs to completion
or be evidence of cost overruns due to rectification.
■ Type and frequency of constructions undertaken. Prescott is interested in the building and refurbishment of hotels and
leisure facilities. Robson’s experience in this area may not be extensive.
■ Non-current asset register showing location of plant and equipment so that some test checking on physical existence
might be undertaken (if an agreed-upon-procedure).

正确答案：
(ii) Factors affecting the need for internal audit and controls
(Based partly on Turnbull guidance)
The nature of operations within the organisation arising from its sector, strategic positioning and main activities.
The scale and size of operations including factors such as the number of employees. It is generally assumed that larger
and more complex organisations have a greater need for internal controls and audit than smaller ones owing to the
number of activities occurring that give rise to potential problems.
Cost/benefit considerations. Management must weigh the benefits of instituting internal control and audit systems
against the costs of doing so. This is likely to be an issue for medium-sized companies or companies experiencing
growth.
Internal or external changes affecting activities, structures or risks. Changes arising from new products or internal
activities can change the need for internal audit and so can external changes such as PESTEL factors.
Problems with existing systems, products and/or procedures including any increase in unexplained events. Repeated or
persistent problems can signify the need for internal control and audit.
The need to comply with external requirements from relevant stock market regulations or laws. This appears to be a
relevant factor at Gluck & Goodman.

正确答案：
2 For the complex, modern business, the view that the single objective of business is to make a profit is regarded by many writers as simplistic. Peter Drucker has argued that for a business to be successful, it must address a number of objectives.
Drucker was one of the first writers to identify the dangers of the single objective of profit maximisation. Concentrating on a single objective (invariably profit) is not only unproductive but potentially harmful to the organisation and can endanger the survival of the business and seriously undermine its future. He argues that business organisations have in fact eight objectives, all of which must be addressed concurrently. These eight objectives are particularly relevant to management, bringing together as they do the need to address all the issues with which the organisation is concerned.
Market standing is the need to identify and maintain market share and to ensure the development of new products to maintain share. Without market standing, no organisation can succeed.
Innovation is the need to develop and find new products and processes; no business can survive on providing the same product or service over the long term. Innovation is fundamental to understanding growth; organisations grow by developing innovative differences to their competitors.
Productivity and ‘contributed value’ recognises the need for efficiency and the efficient use of business resources.
Physical and financial resources is a recognition of the need to use the correct and appropriate financial resources.
Profitability. The word ‘profit’ does not appear, but ‘profitability’. Here there are three important determinants, profitability as a measure of effectiveness (many businesses make a profit which in fact is a poor return on the effort produced), the need for profit so that the business can be self-financing and the need to attract new capital.
Manager performance and development is the explicit recognition that the business requires objectives and that management activity can be linked directly to those objectives.
Worker performance and attitude is recognition that it is vital to measure the performance of the workforce by such means as labour turnover. However, worker attitude is more difficult to measure, but should be attempted.
Public responsibility has become an issue in the twenty-first century. Any business needs to be aware that it is a part of the community within which it operates and is therefore part of a wider social system.