ACCA P2(United Kingdom)历年试题大全(2002年-2008年)

ACCA P2(United Kingdom)历年试题大全(2002年-2008年)

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

Corporate Reporting
(United Kingdom)
Tuesday 10 June 2008

Section A – This ONE question is compulsory and MUST be attempted
1 The following draft balance sheets relate to Ribby, Hall, and Zian, all public limited companies, as at 31 May 2008:
Ribby Hall Zian
£m £m Dinars m
Fixed Assets
Tangible assets 250 120 360
Investment in Hall 98 – –
Investment in Zian 30 – –
Financial assets 10 5 148
—- —- —-
388 125 508
—- —- —-
Current assets 22 17 120
Creditors: amounts falling due within one year (110) (7) (72)
—- —- —-
Net current assets/liabilities (88) 10 48
—- —- —-
Total assets less current liabilities 300 135 556
Creditors: amounts falling due more than one year (90) (5) (48)
—- —- —-
Net assets 210 130 508
—- —- —-
Ordinary shares 60 40 209
Other reserves 30 10 –
Profit and loss reserve 120 80 299
—- —- —-
Capital employed 210 130 508
—- —- —-
The following information needs to be taken account of in the preparation of the group financial statements of Ribby:
(i) Ribby acquired 70% of the ordinary shares of Hall on 1 June 2006 when Hall’s other reserves were £10 million
and the profit and loss reserve was £60 million. The fair value of the net assets of Hall was £120 million at the
date of acquisition. Ribby acquired 60% of the ordinary shares of Zian for 330 million dinars on 1 June 2006
when Zian’s profit and loss reserve was 220 million dinars. The fair value of the net assets of Zian on 1 June
2006 was 495 million dinars. The excess of the fair value over the net assets of Hall and Zian is due to an
increase in the value of non-depreciable land. There have been no issues of ordinary shares since acquisition
and goodwill has been impairment tested annually for both Hall and Zian and has not been impaired. Accepted
group policy is non-amortisation of goodwill under the ‘true and fair view override’ provisions of company law.
(ii) Zian is located in a foreign country and imports its raw materials at a price which is normally denominated in
pounds sterling. The product is sold locally at selling prices denominated in dinars, and determined by local
competition. All selling and operating expenses are incurred locally and paid in dinars. Distribution of profits is
determined by the parent company, Ribby. Zian has financed part of its operations through a £4 million loan
from Hall which was raised on 1 June 2007. This is included in the financial assets of Hall and the figure for
creditors: amounts falling due more than one year of Zian. Zian’s management have a considerable degree of
authority and autonomy in carrying out the operations of Zian and other than the loan from Hall, are not
dependent upon group companies for finance.
(iii) Ribby has a building which it purchased on 1 June 2007 for 40 million dinars and which is located overseas.
The building is carried at cost and has been depreciated on the straight-line basis over its useful life of 20 years.
At 31 May 2008, as a result of an impairment review, the recoverable amount of the building was estimated to
be 36 million dinars.
(iv) Ribby has a long-term loan of £10 million which is owed to a third party bank. At 31 May 2008, Ribby decided
that it would repay the loan early on 1 July 2008 and formally agreed this repayment with the bank prior to the
year end. The agreement sets out that there will be an early repayment penalty of £1 million.
(v) The directors of Ribby announced on 1 June 2007 that a bonus of £6 million would be paid to the employees
of Ribby if they achieved a certain target production level by 31 May 2008. The bonus is to be paid partly in
cash and partly in share options. Half of the bonus will be paid in cash on 30 November 2008 whether or not

(vi) Ribby operates a defined benefit pension plan that provides a pension of 1·2% of the final salary for each year
of service, subject to a minimum of four years service. On 1 June 2007, Ribby improved the pension entitlement
so that employees receive 1·4% of their final salary for each year of service. This improvement applied to all prior
years service of the employees. As a result the present value of the defined benefit obligation on 1 June 2007
increased by £4 million as follows:
Employees with more than four years service 3
Employees with less than four years service (average service of two years) 1


Ribby had not accounted for the improvement in the pension plan.



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