ACCA P2(International)历年考试真题及答案大全(2002年-2008

ACCA P2(International)历年考试真题及答案大全(2002年-2008年)

包含(2002年-2008年)ACCA P2(International)历年考试真题及答案,文件列表如下:

Advanced Corporate
(International Stream)


Time allowed 3 hours
This paper is divided into two sections
Section A This ONE question is compulsory and MUST be
Section B THREE questions ONLY to be answered

Section A – This ONE question is compulsory and MUST be attempted
1 The following draft balance sheets relate to Glove, Body and Fit, all public limited companies, as at 31 May 2007:
Glove Body Fit
$m $m $m
Non-current assets:
Property, plant and equipment 260 20 26
Investment in Body 60
Investment in Fit 30
Available for sale investments 10
Current assets 65 29 20
—— -— -—
Total assets 395 79 46
—— -— -—
Ordinary shares 150 40 20
Other reserves 30 5 8
Retained earnings 135 25 10
—— -— -—
Total equity 315 70 38
—— -— -—
Non-current liabilities 45 2 3
Current liabilities 35 7 5
—— -— -—
Total liabilities 80 9 8
—— -— -—
—— -— -—
Total equity and liabilities 395 79 46
—— -— -—
The following information is relevant to the preparation of the group financial statements:
(i) Glove acquired 80% of the ordinary shares of Body on 1 June 2005 when Body’s other reserves were $4 million
and retained earnings were $10 million. The fair value of the net assets of Body was $60 million at 1 June 2005.
Body acquired 70% of the ordinary shares of Fit on 1 June 2005 when the other reserves of Fit were $8 million
and retained earnings were $6 million. The fair value of the net assets of Fit at that date was $39 million. The
excess of the fair value over the net assets of Body and Fit is due to an increase in the value of non-depreciable
land of the companies. There have been no issues of ordinary shares in the group since 1 June 2005.
(ii) Body owns several trade names which are highly regarded in the market place. Body has invested a significant
amount in marketing these trade names and has expensed the costs. None of the trade names has been acquired
externally and, therefore, the costs have not been capitalised in the balance sheet of Body. On the acquisition of
Body by Glove, a firm of valuation experts valued the trade names at $5 million and this valuation had been
taken into account by Glove when offering $60 million for the investment in Body. The valuation of the trade
names is not included in the fair value of the net assets of Body above. Group policy is to amortise intangible
assets over ten years.
(iii) On 1 June 2005, Glove introduced a new defined benefit retirement plan. At 1 June 2005, there were no
unrecognised actuarial gains and losses. The following information relates to the retirement plan:
$m $m
31 May 2006 31 May 2007
Unrecognised actuarial losses to date 3 5
Present value of obligation 20 26
Fair value of plan assets 16 20
The expected average remaining working lives of the employees in the plan is ten years at 31 May 2006 and
31 May 2007. Glove wishes to defer actuarial gains and losses by using the ‘corridor’ approach. The defined
benefit liability is included in non-current liabilities.



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