ACCA考试F2考试试题练习及答案（5）

发布时间：2020-08-16

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1. Which of the following statements about standard costing are true?

(1) A standard cost is a predetermined estimated unit cost

(2) A standard cost can be used as a control device to help improve performance

(3) A standard cost card shows the unit cost details only of each product

A.1,2and3

B.1and2only

C.2and3only

D.1 and 3 only

答案：B

A standard cost is a predetermined unit cost used for inventory valuation and control.\' The difference between a standard figure and an actual figure is a variance and variance analysis is a control device. So statements 1 and 2 are true.

A standard cost card shows the standard quantities of materials and labour time as well as the unit cost details so statement 3 is false.

2. Which of the following are benefits of using activity based costing?

(1) It recognises that overhead costs are not always driven by the volume of production

(2) It does not result in under or over absorption of fixed overheads

(3) It avoids all arbitrary cost apportionments

(4) It is particularly useful in single product businesses

A.1and 2

B.1 only

C.2and 3

D.1and 4

答案：B

Activity based costing recognises that there are other factors than production volume which drive overheads. Overheads may still be under or over absorbed and arbitrary cost apportionments may still be required if activity based costing is used. Activity based costing is most likely to be useful where there is a wide and diverse product range.

3. Which TWO of the following are true of imposed budgeting?

A.It is most effective in large organisations

B.It reduces deliberate overestimation of costs and underestimation of revenues in a budget

C.It increases operational managers\' commitment to organisational objectives

D.Top management prepare a budget with lttle or no input from operating staff

答案：D

4. Which of the following about mission statements are true?

(1) They are stated in a standard format

(2) They play an important role in the planning process

(3) They help ensure consistency in decision making

A.2and3only

B.1,2and3

C.1 only

D.2 only

答案：A

Mission statements do not have a standard format. Statement 1 is therefore false. They do play an important role in the planning process. They can be used to help evaluate and implement plans. They help to ensure consistency in decision making and goal congruence.

5. In the last period an organisation budgeted to work 116,000 hours manufacturing 29,000 units. Actual output last period was 26 ,000 units which took 108,000 hours to manufacture. What was the labour efficiency ratio for the last period (expressed as a % correct to one decimal place)?

A.103 .3%

B.93.1%

C.89.7%

D.96.3%

答案：B

Budgeted hours per unit = 4 (116,000 / 29,000)

Actual hours per unit = 4.15 (108,000 / 26,000)

Labour efficiency ratio= 96.3% (4/ 4.15)

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下面小编为大家准备了 ACCA考试 的相关考题，供大家学习参考。

Bonar Paint to date has had no formal strategic planning process.

(d) What are the advantages and disadvantages of developing a formal mission statement to guide Bonar Paint’s

future direction after the buyout? (10 marks)

正确答案：
(d) The change in ownership represents a major change in the life of any organisation and the opportunity to convince the various
stakeholders of the strategic direction the firm is going in should not be missed. Mission statements are not something that
can be created at five minutes notice and once created need to be revisited to ensure they are still relevant and engaging.
Some experts argue that the mission can only be developed once the firm’s competitive strategy has been developed. Others
argue that it is the starting point for the whole strategic planning process.
A mission statement expresses the purpose of the business and great care will need to be taken to clarify the new role and
status of the buyout directors. Two other critical stakeholders are the workforce and the customers – alienation of either group
will have serious consequences for the firm. Customers need to be convinced that they should stay with the firm and staff
that there is a future for them in the new set up. Bonar Paint needs to ensure that its reputation for customer care is part of
the statement.
The strategy of the firm in terms of where and how it is going to compete again should create confidence in the key
stakeholders. Developing this clear sense of where Bonar Paint is going and how it is going to get there will be of particular
interest to its financial backers. Expressing the mission of the business will be a key part of any business plan. Bonar Paint
may also choose to emphasise the standards of behaviour that will underpin the way it does business. This may include an
explicit commitment to innovative products and customer service. Once again the impact and relevance to both internal and
external stakeholders is important.
Finally, the buyout managers have to convince stakeholders that the culture and values associated with that culture will be
retained after the change in ownership. Bonar Paint, under the Bonar brothers’ ownership and direction, did not feel that
strategic planning was a necessary activity. A succinct and meaningful mission statement may be an excellent way to
communicate the new ownership and sense of purpose in Bonar Paint.
Creating mission statements that convey a sense of purpose may not be easy for the buyout team. The time spent creating
the statement has to have positive outcomes or it will be time wasted. Creating such a statement with no previous experience
increases the difficulties. Seeing it as an integral part of a strategic planning process is important. Care must be taken to
involve other stakeholders in the process or statements may be made with little meaning for them. The degree of involvement
is also significant; most stakeholders are more likely to be useful as ‘sounding boards’ for testing and refining the statement.
The danger is that a statement is produced that few stakeholders buy into and does not affect attitudes or behaviours towardBonar Paint.

3 You are the manager responsible for the audit of Seymour Co. The company offers information, proprietary foods and

medical innovations designed to improve the quality of life. (Proprietary foods are marketed under and protected by

registered names.) The draft consolidated financial statements for the year ended 30 September 2006 show revenue

of $74·4 million (2005 – $69·2 million), profit before taxation of $13·2 million (2005 – $15·8 million) and total

assets of $53·3 million (2005 – $40·5 million).

The following issues arising during the final audit have been noted on a schedule of points for your attention:

(a) In 2001, Seymour had been awarded a 20-year patent on a new drug, Tournose, that was also approved for

food use. The drug had been developed at a cost of $4 million which is being amortised over the life of the

patent. The patent cost $11,600. In September 2006 a competitor announced the successful completion of

preliminary trials on an alternative drug with the same beneficial properties as Tournose. The alternative drug is

expected to be readily available in two years time. (7 marks)

Required:

For each of the above issues:

(i) comment on the matters that you should consider; and

(ii) state the audit evidence that you should expect to find,

in undertaking your review of the audit working papers and financial statements of Seymour Co for the year ended

30 September 2006.

NOTE: The mark allocation is shown against each of the three issues.

正确答案：

 

■ A change in the estimated useful life should be accounted for as a change in accounting estimate in accordance
with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. For example, if the development
costs have little, if any, useful life after the introduction of the alternative drug (‘worst case’ scenario), the carrying
value ($3 million) should be written off over the current and remaining years, i.e. $1 million p.a. The increase in
amortisation/decrease in carrying value ($800,000) is material to PBT (6%) and total assets (1·5%).
■ Similarly a change in the expected pattern of consumption of the future economic benefits should be accounted for
as a change in accounting estimate (IAS 8). For example, it may be that the useful life is still to 2020 but that
the economic benefits may reduce significantly in two years time.
■ After adjusting the carrying amount to take account of the change in accounting estimate(s) management should
have tested it for impairment and any impairment loss recognised in profit or loss.
(ii) Audit evidence
■ $3 million carrying amount of development costs brought forward agreed to prior year working papers and financial
statements.
■ A copy of the press release announcing the competitor’s alternative drug.
■ Management’s projections of future cashflows from Tournose-related sales as evidence of the useful life of the
development costs and pattern of consumption.
■ Reperformance of management’s impairment test on the development costs: Recalculation of management’s
calculation of the carrying amount after revising estimates of useful life and/or consumption of benefits compared
with management’s calculation of value in use.
■ Sensitivity analysis on management’s key assumptions (e.g. estimates of useful life, discount rate).
■ Written management representation on the key assumptions concerning the future that have a significant risk of
causing material adjustment to the carrying amount of the development costs. (These assumptions should be
disclosed in accordance with IAS 1 Presentation of Financial Statements.)

(c) Discuss the factors that might influence whether the initial bid is likely to be accepted by the shareholders of Wragger plc.

正确答案：

(c) The type of payment might influence the success of the bid. Paxis is proposing a share for share exchange which offers a continuation in ownership of the entity, albeit as part of the successful bidder. However, relative share prices will change during the period of the bid, and the owner of shares in the potential victim company will not know the precise postacquisition value of the bid. An alternative might be cash payments which provides a known, precise sum, and might be favoured for this reason. However, in some countries payment in cash might lead to an immediate capital gains tax liability for the investor.

The effective price offered would of course be a major influence. Paxis would need to offer a premium over the existing share price, but the size of the premium that would be acceptable is unknown. Informal discussions with major shareholders of Wragger might assist in determining this (subject to such discussions being permitted by the regulatory authorities).

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