ACCA考试 2022_07_12 每日一练
(b) Describe the principal audit work to be performed in respect of the useful lives of Shire Oil Co’s rig platforms.
(6 marks)
(b) (i) Advise Alasdair of the tax implications and relative financial risks attached to the following property
investments:
(1) buy to let residential property;
(2) commercial property; and
(3) shares in a property investment company/unit trust. (9 marks)
During the year the internal auditor of Mulligan Co discovered several discrepancies in the inventory records. In a
statement made to the board of directors, the internal auditor said:
‘I think that someone is taking items from the warehouse. A physical inventory count is performed every three months,
and it has become apparent that about 200 boxes of flat-packed chairs and tables are disappearing from the
warehouse every month. We should get someone to investigate what has happened and quantify the value of the
loss.’
Required:
(c) Define ‘forensic accounting’ and explain its relevance to the statement made by the internal auditor.
(5 marks)
(b) Write a letter to Joanne setting out the value added tax (VAT) registration requirements and advising on
whether or not she should or could register for VAT and if registered if she could recover the VAT suffered on
the consultancy fees and computer purchased in October 2005. (7 marks)
(ii) Explain the income tax (IT), national insurance (NIC) and capital gains tax (CGT) implications arising on
the grant to and exercise by an employee of an option to buy shares in an unapproved share option
scheme and on the subsequent sale of these shares. State clearly how these would apply in Henry’s
case. (8 marks)
(b) Describe the principal audit procedures to be carried out in respect of the following:
(i) The measurement of the share-based payment expense; (6 marks)
(b) Prepare a consolidated statement of financial position of the Ribby Group at 31 May 2008 in accordance
with International Financial Reporting Standards. (35 marks)