ACCA考试 2022_05_29 每日一练
(ii) Briefly discuss THREE disadvantages of using EVA? in the measurement of financial performance.
(3 marks)
5 (a) IFAC’s ‘Code of Ethics for Professional Accountants’ is divided into three parts:
Part A – Applicable to All Professional Accountants
Part B – Applicable to Professional Accountants in Public Practice
Part C – Applicable to Employed Professional Accountants
Required:
Distinguish between ‘Professional Accountants’, ‘Professional Accountants in Public Practice’ and ‘Employed
Professional Accountants’. (3 marks)
(c) Discuss TWO limitations of the Boston Consulting Group matrix as a strategic planning tool. (4 marks)
(b) You are the manager responsible for the audit of Poppy Co, a manufacturing company with a year ended
31 October 2008. In the last year, several investment properties have been purchased to utilise surplus funds
and to provide rental income. The properties have been revalued at the year end in accordance with IAS 40
Investment Property, they are recognised on the statement of financial position at a fair value of $8 million, and
the total assets of Poppy Co are $160 million at 31 October 2008. An external valuer has been used to provide
the fair value for each property.
Required:
(i) Recommend the enquiries to be made in respect of the external valuer, before placing any reliance on their
work, and explain the reason for the enquiries; (7 marks)
(c) In November 2006 Seymour announced the recall and discontinuation of a range of petcare products. The
product recall was prompted by the high level of customer returns due to claims of poor quality. For the year to
30 September 2006, the product range represented $8·9 million of consolidated revenue (2005 – $9·6 million)
and $1·3 million loss before tax (2005 – $0·4 million profit before tax). The results of the ‘petcare’ operations
are disclosed separately on the face of the income statement. (6 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.
(b) Calculate the percentage of maximum capacity at which the zoo will break even during the year ending
30 November 2007. You should assume that 50% of the revenue from sales of ticket type ZC is attributable
to the zoo. (7 marks)