ACCA考试 2022_02_19 每日一练
6 Certain practices have developed that threaten to damage the integrity and objectivity of professional accountants and
the reputation of the accounting profession.
Required:
Explain the following practices and associated ethical risks and discuss whether current ethical guidance is
sufficient:
(a) ‘lowballing’; (5 marks)
(b) Explain FIVE critical success factors to the performance of HSC on which the directors must focus if HSC is
to achieve success in its marketplace. (10 marks)
(ii) Identify and explain the potential financial statement risks caused by the breach of planning regulations
discussed in the press cutting. (6 marks)
(ii) List the additional information required in order to calculate the employment income benefit in respect
of the provision of the furnished flat for 2007/08 and advise Benny of the potential income tax
implications of requesting a more centrally located flat in accordance with the company’s offer.
(4 marks)
16 Which of the following statements about accounting concepts and conventions are correct?
(1) The entity concept requires that a business is treated as being separate from its owners.
(2) The use of historical cost accounting tends to understate assets and profit when prices are rising.
(3) The prudence concept means that the lowest possible values should be applied to income and assets and the
highest possible values to expenses and liabilities.
(4) The money measurement concept means that only assets capable of being reliably measured in monetary terms
can be included in the balance sheet of a business.
A 1 and 2
B 2 and 3
C 3 and 4
D 1 and 4
(b) As a newly-qualified Chartered Certified Accountant, you have been asked to write an ‘ethics column’ for a trainee
accountant magazine. In particular, you have been asked to draft guidance on the following questions addressed
to the magazine’s helpline:
(i) What gifts or hospitality are acceptable and when do they become an inducement? (5 marks)
Required:
For each of the three questions, explain the threats to objectivity that may arise and the safeguards that
should be available to manage them to an acceptable level.
NOTE: The mark allocation is shown against each of the three questions above.