分类： 特许公认会计师（ACCA）国际认证资格考试（二区）

2015年6月特许公认会计师（ACCA）F8考试真题及答案

Audit and Assurance
(International)
Wednesday 3 June 2009

2 (a) List and explain FOUR methods of selecting a sample of items to test from a population in accordance with
ISA 530 (Redrafted) Audit Sampling and Other Means of Testing. (4 marks)
(b) List and explain FOUR assertions from ISA 500 Audit Evidence that relate to the recording of classes of
transactions. (4 marks)
(c) In terms of audit reports, explain the term ‘modified’. (2 marks)
(10 marks)
3 Following a competitive tender, your audit firm Cal & Co has just gained a new audit client Tirrol Co. You are the
manager in charge of planning the audit work. Tirrol Co’s year end is 30 June 2009 with a scheduled date to complete
the audit of 15 August 2009. The date now is 3 June 2009.
Tirrol Co provides repair services to motor vehicles from 25 different locations. All inventory, sales and purchasing
systems are computerised, with each location maintaining its own computer system. The software in each location is
the same because the programs were written specifically for Tirrol Co by a reputable software house. Data from each
location is amalgamated on a monthly basis at Tirrol Co’s head office to produce management and financial accounts.
You are currently planning your audit approach for Tirrol Co. One option being considered is to re-write Cal & Co’s
audit software to interrogate the computerised inventory systems in each location of Tirrol Co (except for head office)
as part of inventory valuation testing. However, you have also been informed that any computer testing will have to
be on a live basis and you are aware that July is a major holiday period for your audit firm.
Required:
(a) (i) Explain the benefits of using audit software in the audit of Tirrol Co; (4 marks)
(ii) Explain the problems that may be encountered in the audit of Tirrol Co and for each problem, explain
how that problem could be overcome. (10 marks)
(b) Following a discussion with the management at Tirrol Co you now understand that the internal audit department
are prepared to assist with the statutory audit. Specifically, the chief internal auditor is prepared to provide you
with documentation on the computerised inventory systems at Tirrol Co. The documentation provides details of

2014年6月、12月ACCA F7（International）考试真题及答案

Financial Reporting
(International)
Tuesday 9 December 2008

ALL FIVE questions are compulsory and MUST be attempted
1 On 1 April 2008, Pedantic acquired 60% of the equity share capital of Sophistic in a share exchange of two shares
in Pedantic for three shares in Sophistic. The issue of shares has not yet been recorded by Pedantic. At the date of
acquisition shares in Pedantic had a market value of $6 each. Below are the summarised draft financial statements
of both companies.
Income statements for the year ended 30 September 2008
Pedantic Sophistic
$’000 $’000
Revenue 85,000 42,000
Cost of sales (63,000) (32,000)
–––––––– ––––––––
Gross profit 22,000 10,000
Distribution costs (2,000) (2,000)
Administrative expenses (6,000) (3,200)
Finance costs (300) (400)
–––––––– ––––––––
Profit before tax 13,700 4,400
Income tax expense (4,700) (1,400)
–––––––– ––––––––
Profit for the year 9,000 3,000
–––––––– ––––––––
Statements of financial position as at 30 September 2008
Assets
Non-current assets
Property, plant and equipment 40,600 12,600
Current assets 16,000 6,600
–––––––– ––––––––
Total assets 56,600 19,200
Equity and liabilities
Equity shares of $1 each 10,000 4,000
Retained earnings 35,400 6,500
–––––––– ––––––––
45,400 10,500
Non-current liabilities
10% loan notes 3,000 4,000
Current liabilities 8,200 4,700
–––––––– ––––––––
Total equity and liabilities 56,600 19,200
–––––––– ––––––––
The following information is relevant:
(i) At the date of acquisition, the fair values of Sophistic’s assets were equal to their carrying amounts with the
exception of an item of plant, which had a fair value of $2 million in excess of its carrying amount. It had a
remaining life of five years at that date [straight-line depreciation is used]. Sophistic has not adjusted the carrying
amount of its plant as a result of the fair value exercise.
(ii) Sales from Sophistic to Pedantic in the post acquisition period were $8 million. Sophistic made a mark up on
cost of 40% on these sales. Pedantic had sold $5·2 million (at cost to Pedantic) of these goods by 30 September
2008.
(iii) Other than where indicated, income statement items are deemed to accrue evenly on a time basis.
(iv) Sophistic’s trade receivables at 30 September 2008 include $600,000 due from Pedantic which did not agree
with Pedantic’s corresponding trade payable. This was due to cash in transit of $200,000 from Pedantic to
Sophistic. Both companies have positive bank balances.
(v) Pedantic has a policy of accounting for any non-controlling interest at fair value. For this purpose the fair value
of the goodwill attributable to the non-controlling interest in Sophistic is $1·5 million. Consolidated goodwill was
not impaired at 30 September 2008.

2014年6月、12月特许公认会计师（ACCA）F8（International）考试真题及答案

Audit and Assurance
(International)
Wednesday 4 June 2008

3 (a) With reference to ISA 520 Analytical Procedures explain
(i) what is meant by the term ‘analytical procedures’; (2 marks)
(ii) the different types of analytical procedures available to the auditor; and (3 marks)
(iii) the situations in the audit when analytical procedures can be used. (3 marks)
Zak Co sells garden sheds and furniture from 15 retail outlets. Sales are made to individuals, with income being in
the form of cash and debit cards. All items purchased are delivered to the customer using Zak’s own delivery vans;
most sheds are too big for individuals to transport in their own motor vehicles. The directors of Zak indicate that the
company has had a difficult year, but are pleased to present some acceptable results to the members.
The income statements for the last two financial years are shown below:
Income statement
31 March 2008 31 March 2007
$000 $000
Revenue 7,482 6,364
Cost of sales (3,520) (4,253)
–––––– ––––––
Gross profit 3,962 2,111
Operating expenses
Administration (1,235) (1,320)
Selling and distribution (981) (689)
Interest payable (101) (105)
Investment income 145 –
–––––– ––––––
Profit/(loss) before tax 1,790 (3)
–––––– –––––– –––––– ––––––
Financial statement extract
–––––– ––––––
Required:
(b) As part of your risk assessment procedures for Zak Co, identify and provide a possible explanation for unusual
changes in the income statement. (9 marks)
(c) Confirmation of the end of year bank balances is an important audit procedure.
Required:
Explain the procedures necessary to obtain a bank confirmation letter from Zak Co’s bank. (3 marks)
(20 marks)

2014年6月、12月ACCA F9考试真题及答案

Financial Management
Thursday 4 December 2008

ALL FOUR questions are compulsory and MUST be attempted
1 Dartig Co is a stock-market listed company that manufactures consumer products and it is planning to expand its
existing business. The investment cost of $5 million will be met by a 1 for 4 rights issue. The current share price of
Dartig Co is $2·50 per share and the rights issue price will be at a 20% discount to this. The finance director of Dartig
Co expects that the expansion of existing business will allow the average growth rate of earnings per share over the
last four years to be maintained into the foreseeable future.
The earnings per share and dividends paid by Dartig over the last four years are as follows:
2003 2004 2005 2006 2007
Earnings per share (cents) 27·7 29·0 29·0 30·2 32·4
Dividend per share (cents) 12·8 13·5 13·5 14·5 15·0
Dartig Co has a cost of equity of 10%. The price/earnings ratio of Dartig Co has been approximately constant in recent
years. Ignore issue costs.
Required:
(a) Calculate the theoretical ex rights price per share prior to investing in the proposed business expansion.
(3 marks)
(b) Calculate the expected share price following the proposed business expansion using the price/earnings ratio
method. (3 marks)
(c) Discuss whether the proposed business expansion is an acceptable use of the finance raised by the rights
issue, and evaluate the expected effect on the wealth of the shareholders of Dartig Co. (5 marks)
(d) Using the information provided, calculate the ex div share price predicted by the dividend growth model and
discuss briefly why this share price differs from the current market price of Dartig Co. (6 marks)
2 The following financial information related to Gorwa Co:
2007 2006
$000 $000
Sales (all on credit) 37,400 26,720
Cost of sales 34,408 23,781
––––––– –––––––
Operating profit 2,992 2,939
Finance costs (interest payments) 355 274
––––––– –––––––
Profit before taxation 2,637 2,665
––––––– –––––––
2007 2006
$000 $000 $000 $000
Non-current assets 13,632 12,750
Current assets
Inventory 4,600 2,400
Trade receivables 4,600 2,200
–––––– ––––––
9,200 4,600
Current liabilities

2014年6月、12月ACCA P1考试真题及答案

Professional
Accountant
Monday 8 December 2008

Section A – This ONE question is compulsory and MUST be attempted
1 The scientists in the research laboratories of Swan Hill Company (SHC, a public listed company) recently made a very
important discovery about the process that manufactured its major product. The scientific director, Dr Sonja Rainbow,
informed the board that the breakthrough was called the ‘sink method’. She explained that the sink method would
enable SHC to produce its major product at a lower unit cost and in much higher volumes than the current process.
It would also produce lower unit environmental emissions and would substantially improve product quality compared
to its current process and indeed compared to all of the other competitors in the industry.
SHC currently has 30% of the global market with its nearest competitor having 25% and the other twelve producers
sharing the remainder. The company, based in the town of Swan Hill, has a paternalistic management approach and
has always valued its relationship with the local community. Its website says that SHC has always sought to maximise
the benefit to the workforce and community in all of its business decisions and feels a great sense of loyalty to the
Swan Hill locality which is where it started in 1900 and has been based ever since.
As the board considered the implications of the discovery of the sink method, chief executive Nelson Cobar asked
whether Sonja Rainbow was certain that SHC was the only company in the industry that had made the discovery and
she said that she was. She also said that she was certain that the competitors were ‘some years’ behind SHC in their
research.
It quickly became clear that the discovery of the sink method was so important and far reaching that it had the
potential to give SHC an unassailable competitive advantage in its industry. Chief executive Nelson Cobar told board
colleagues that they should clearly understand that the discovery had the potential to put all of SHC’s competitors out
of business and make SHC the single global supplier. He said that as the board considered the options, members
should bear in mind the seriousness of the implications upon the rest of the industry.
Mr Cobar said there were two strategic options. Option one was to press ahead with the huge investment of new plant
necessary to introduce the sink method into the factory whilst, as far as possible, keeping the nature of the sink
technology secret from competitors (the ‘secrecy option’). A patent disclosing the nature of the technology would not
be filed so as to keep the technology secret within SHC. Option two was to file a patent and then offer the use of the
discovery to competitors under a licensing arrangement where SHC would receive substantial royalties for the twenty-
year legal lifetime of the patent (the ‘licensing option’). This would also involve new investment but at a slower pace
in line with competitors. The licence contract would, Mr Cobar explained, include an ‘improvement sharing’
requirement where licensees would be required to inform SHC of any improvements discovered that made the sink
method more efficient or effective.
Required:
(a) Assess the secrecy option using Tucker’s model for decision-making. (10 marks)
(b) Distinguish between strategic and operational risks, and explain why the secrecy option would be a source
of strategic risk. (10 marks)
(c) Mr Cobar, the chief executive of SHC, has decided to draft two alternative statements to explain both possible
outcomes of the secrecy/licensing decision to shareholders. Once the board has decided which one to pursue,
the relevant draft will be included in a voluntary section of the next corporate annual report.
Required:
(i) Draft a statement in the event that the board chooses the secrecy option. It should make a convincing
business case and put forward ethical arguments for the secrecy option. The ethical arguments should
be made from the stockholder (or pristine capitalist) perspective. (8 marks)

2014年6月、12月ACCA P2（International）考试真题及答案

Corporate Reporting
(International)

(ii) The retirement benefit liability is shown as a long-term provision in the Statement of Financial Position and
comprises the following:
$m
Liability at 1 December 2007 96
Expense for period 10
Contributions to scheme (paid) (10)
Actuarial losses 4
––––
Liability at 30 November 2008 100
––––
Warrburt recognises actuarial gains and losses in the statement of comprehensive income in the period in which
they occur. The benefits paid in the period by the trustees of the scheme were $3 million. There is no tax impact
with regards to the retirement benefit liability.
(iii) The property, plant and equipment (PPE) in the Statement of Financial Position comprises the following:
$m
Carrying value at 1 December 2007 360
Additions at cost 78
Gains on property revaluation 4
Disposals (56)
Depreciation (36)
––––
Carrying value at 30 November 2008 350
––––
Plant and machinery with a carrying value of $1 million had been destroyed by fire in the year. The asset was
replaced by the insurance company with new plant and machinery which was valued at $3 million. The
machines were acquired directly by the insurance company and no cash payment was made to Warrburt. The
company included the net gain on this transaction in ‘additions at cost’ and ‘other income’.
The disposal proceeds were $63 million. The gain on disposal is included in administrative expenses. Deferred
tax of $2 million has been deducted in arriving at the ‘gains on property revaluation’ figure in ‘other
comprehensive income’.
The remaining additions of PPE comprised imported plant and equipment from an overseas supplier on 30 June

2014年6月、12月特许公认会计师（ACCA）P3考试真题及答案

Business Analysis
Wednesday 11 June 2008

Section A – This ONE question is compulsory and MUST be attempted
The following information should be used when answering question 1.
1 Introduction
AutoFone was established almost twenty years ago at the beginning of the mobile telephone boom. It was formed by
a dynamic Chief Executive Officer (CEO) who still remains a major shareholder of the company.
AutoFone brought two new concepts to the market. Firstly, it established retail shops where customers could go and
handle the products and discuss mobile phone options with trained sales people. Before AutoFone, all mobile
telephones were sold through the customer directly contacting the telephone network provider (like conventional home
land line services) and were generally aimed at business rather than leisure users. Secondly, AutoFone sold products
and services from all the four major network providers licensed by the government to provide telecommunications
services in the country. Previously, customers could only choose products and services from within one network
provider’s range. AutoFone allowed customers to choose products and services across the range of the four providers
and reflected this in the company’s motto ‘ethical advice: the customer’s choice’.
In 1990, AutoFone signed a thirty-year supply contract with each provider. Although, in retrospect, these deals were
on commercially favourable terms for AutoFone, the network providers were happy to agree these deals because none
of them believed that mobile telephones could be successfully sold through retail shops. However, speaking in 2003,
the managing director of one of the networks suggested ‘that AutoFone had got away with incredible profit margins’
when they signed the deals in 1990. The four network providers themselves had re-signed twenty-five year licence
deals with the government in 1995. Under the terms of these deals, licences will be restricted to the four current
providers until their renewal date of 2020.
Retail shops Division
AutoFone currently has 415 shops around the country. To reduce costs most shops are on the edge of (but not in)
the main shopping area of the town they serve. It is usual for AutoFone to sign a fifty-year shop lease in return for
low initial annual rental and a rent-free period at the start of the lease while the company fits out the shop to reflect
AutoFone’s corporate image. In 1997, AutoFone floated on the country’s stock market to assist the funding of further
shops and so continue its organic growth. The national coverage of its shops, the publicity generated by its CEO and
a successful television advertising campaign culminated, in 2005, with it being rated by consumers as one of the top
20 brands in the country.
The CEO of AutoFone established the retail shops along, in his words, ‘entrepreneurial lines’. He regards each shop

2014年6月、12月ACCA P4考试真题及答案

Advanced Financial
Management
Thursday 4 December 2008

Section A – BOTH questions are compulsory and MUST be attempted
1 It is now 1 December 2008. You have been hired as a financial consultant to the Blipton International Entertainment
Group which is evaluating a proposal from its hotel division to build a 400 bedroom hotel in the East End of London.
This area has developed rapidly over the last 15 years and the prospects have been further enhanced by the
announcement that London is to host the 2012 Olympics. Blipton is based in Dubai and both reports and accounts
for all its transactions in dollars. The current dollar/sterling spot rate is $1·4925/£. The operating costs for the hotel
are expected to be £30 per occupied room per day (variable) and a fixed cost of £1·7 million per annum expressed
in current prices. The proportion of bedrooms occupied, on the basis of opening for 365 days a year, is expected to
be as follows:
Year ended occupancy
31 December 2009 construction
31 December 2010 40%
31 December 2011 50%
31 December 2012 90%
31 December 2013 60%
31 December 2014 60%
UK inflation is currently projected by the Bank of England as 2·5% per annum and inflation in the United States is
4·8% per annum. These rates are expected to be constant over the term of the project. Blipton’s real cost of capital
is 4·2%. UK hotel property values within the London area are expected to rise in real terms by 8% per annum.
The construction cost for this hotel is estimated to be £6·2 million and it will be built over the 12 months to
31 December 2009. As part of the UK’s Olympic Development Plan, a 50% first year capital allowance is available
for tax purposes on building projects related to the Games. The balance of the capital expenditure can be claimed in
equal instalments over the following three years. UK profit tax is 30% and is levied and paid on profits in the year
they arise. There is no additional tax liability on remittance to or from Dubai. The company has sufficient UK profits
on its other activities to absorb the capital allowances on this project.
In making investment decisions of this type the company operates the following procedure:
1. All cash flows including construction costs are assumed to arise at the end of the year concerned and are to be
projected in nominal (money) terms over the six year period.
2. The residual value of the investment at the end of six years is assumed to be the open market value of the
property less a charge for repairs and renewals.
3. The charge for repairs and renewals is expected to be £1·2 million in current prices payable on disposal.
4. The net present value of the project should be based upon a 100% remittance of net cash flows to Dubai and
should be calculated in dollars.
5. Average room rates are set at the level required to recover variable cost plus 100%.
Required:
Prepare a report for management to include the following:
(a) A six year nominal dollar projection of the after tax cash flow for this project distinguishing between cash
flows arising from its investment phase and those arising from its return phase. (12 marks
(b) An estimate of the project’s dollar net present value and the modified internal rate of return.

2014年6月、12月特许公认会计师（ACCA）P5考试真题及答案

Advanced Performance
Management
Friday 6 June 2008

Section A – BOTH questions are compulsory and MUST be attempted
1 The Health and Fitness Group (HFG), which is privately owned, operates three centres in the country of Mayland.
Each centre offers dietary plans and fitness programmes to clients under the supervision of dieticians and fitness
trainers. Residential accommodation is also available at each centre. The centres are located in the towns of Ayetown,
Beetown and Ceetown.
The following information is available:
(1) Summary financial data for HFG in respect of the year ended 31 May 2008.
Ayetown Beetown Ceetown Total
$000 $000 $000 $000
Revenue:
Fees received 1,800 2,100 4,500 8,400
Variable costs (468) (567) (1,395) (2,430)
–––––– –––––– –––––– –––––––
Contribution 1,332 1,533 3,105 5,970
Fixed costs (936) (1,092) (2,402) (4,430)
–––––– –––––– –––––– –––––––
Operating profit 396 441 703 1,540
Interest costs on long-term debt at 10% (180)
–––––––
Profit before tax 1,360
Income tax expense (408)
–––––––
Profit for the year 952
–––––––
Average book values for 2008:
Assets
Non-current assets 1,000 2,500 3,300 6,800
Current assets 800 900 1,000 2,700
–––––– –––––– –––––– –––––––
Total assets 1,800 3,400 4,300 9,500
(7) The market value of the long-term borrowings of HFG is equal to the book value.
(8) The directors are concerned about the return on investment (ROI) generated by the Beetown centre and they are
considering using sensitivity analysis in order to show how a target ROI of 20% might be achieved.
(9) The marketing director stated at a recent board meeting that ‘The Group’s success depends on the quality of
service provided to our clients. In my opinion, we need only to concern ourselves with the number of complaints
received from clients during each period as this is the most important performance measure for our business.
The number of complaints received from clients is a perfect performance measure. As long as the number of
complaints received from clients is not increasing from period to period, then we can be confident about our
future prospects’.
Required:
(a) The directors of HFG have asked you, as management accountant, to prepare a report providing them with
explanations as to the following:
(i) Which of the three centres is the most ‘successful’? Your report should include a commentary on return
on investment (ROI), residual income (RI), and economic value added (EVA) as measures of financial
performance. Detailed calculations regarding each of these three measures must be included as part of
your report;
Note: a maximum of seven marks is available for detailed calculations. (14 marks)
(ii) The percentage change in revenue, total costs and net assets during the year ended 31 May 2008 that
would have been required in order to have achieved a target ROI of 20% by the Beetown centre. Your
answer should consider each of these three variables in isolation. State any assumptions that you make.

2014年6月、12月特许公认会计师（ACCA）P6（UK）考试真题及答案

Advanced Taxation
(United Kingdom)
Monday 2 June 2008

Required:
(a) Prepare the memorandum requested by your manager. The memorandum should include explanations
together with supporting calculations and should identify any further information that you think is required.
The following marks are available for the four components of the memorandum:
(i) The amount of tax that can be saved via the use of the loss of Dione Ltd; (7 marks)
In early 2009, Tethys Ltd will sell its manufacturing premises for £240,000 and move to a rented factory. The
premises were acquired new on 1 May 1998 for £112,000 and immediately brought into industrial use. The tax
written down value for the purposes of industrial buildings allowances as at 31 December 2008 will be £62,720.
We agreed that the indexation factor on the disposal can be assumed to be 27%.
Information requested by DD
(i) The maximum amount of tax that can be saved via the use of the loss of Dione Ltd assuming it is not carried
forward and the date by which the necessary claims must be submitted.
(ii) The amount of the trading loss of Tethys Ltd for the year ending 31 December 2008 that can be used by
Saturn Ltd and the ability of Tethys Ltd to use this loss in the future.
(iii) In respect of the sale of the manufacturing premises:
– Whether or not Tethys Ltd should charge value added tax (VAT) on the sale of the property.
– The taxable profit arising in respect of the sale.
– The amount of the gain that could be rolled over if Tethys Ltd or any of the other Saturn Ltd group
companies acquired assets costing £200,000, the types of asset that would have to be purchased and
the period during which the assets would need to be acquired.
(iv) Any stamp duty and/or stamp duty land tax payable by the Saturn Ltd group in respect of the proposed
transactions.
Tax manag e r

2014年12月特许公认会计师（ACCA）P7（Int）考试真题及答案

Advanced Audit and
Assurance
(International)
Tuesday 2 December 2008

2 (a) Define the following terms:
(i) Forensic Accounting;
(ii) Forensic Investigation;
(iii) Forensic Auditing. (6 marks)
You are a manager in the forensic investigation department of your audit firm. The directors of a local manufacturing
company, Crocus Co, have contacted your department regarding a suspected fraud, which has recently been
discovered operating in the company, and you have been asked to look into the matter further. You have held a
preliminary discussion with Gita Thrales, the finance director of Crocus Co, the notes of this conversation are shown
below:
Notes of discussion with Gita Thrales
Four months ago Crocus Co shut down one of its five factories, in response to deteriorating market conditions, with
all staff employed at the factory made redundant on the date of closure.
While monitoring the monthly management accounts, Gita performs analytical procedures on salary expenses. She
found that the monthly total payroll expense had reduced by 3% in the months following the factory closure – not
as much as expected, given that 20% of the total staff of the company had been made redundant. Initial
investigations performed last week by Gita revealed that many of the employees who had been made redundant
had actually remained on the payroll records, and salary payments in respect of these individuals were still being
made every month, with all payments going into the same bank account. As soon as she realised that there may
be a fraud being conducted within the company, Gita stopped any further payments in respect of the redundant
employees. She contacted our firm as she is unsure how to proceed, and would like our firm’s specialist department
to conduct an investigation.
Gita says that the senior accountant, Miles Rutland, has been absent from work since she conducted her initial

2015年6月特许公认会计师（ACCA）F4考试真题及答案

Corporate and
Business Law
(English)
Tuesday 2 June 2009

ALL 10 questions are compulsory and MUST be attempted
1 Explain and distinguish between the following terms in relation to the doctrine of precedent in the English legal
system:
(a) ratio decidendi and obiter dictum; (4 marks)
(b) binding precedent and persuasive precedent. (6 marks)
(10 marks)
2 (a) In relation to the law of contract, define and explain consideration. (3 marks)
(b) Explain the following statements regarding consideration:
(i) consideration must be sufficient but does not have to be adequate; (3 marks)
(ii) past consideration is not good consideration. (4 marks)
(10 marks)
3 In relation to the law of contract, distinguish between and explain the effect of:
(a) a term and a mere representation; (3 marks)
(b) express and implied terms, paying particular regard to the circumstances under which terms may be implied
in contracts. (7 marks)
(10 marks)
4 In relation to company law, explain:

7 In relation to employment law, explain the meaning of redundancy and the rules that govern it.
(10 marks)
8 In January 2008 Arti entered in a contractual agreement with Bee Ltd to write a study manual for an international
accountancy body’s award. The manual was to cover the period from September 2008 till June 2009, and it was a
term of the contract that the text be supplied by 30 June 2008 so that it could be printed in time for September. By
30 May, Arti had not yet started on the text and indeed he had written to Bee Ltd stating that he was too busy to
write the text.
Bee Ltd was extremely perturbed by the news, especially as it had acquired the contract to supply all of the
accountancy body’s study manuals and had already incurred extensive preliminary expenses in relation to the
publication of the new manual.
Required:
In the context of the law of contract, advise Bee Ltd whether they can take any action against Arti.
(10 marks)
9 Clean Ltd was established some five years ago to manufacture industrial solvents and cleaning solutions, and Des
was appointed managing director.
The company’s main contract was with Dank plc a large industrial conglomerate.
In the course of its research activity, Clean Ltd’s scientists developed a new super glue. Des was very keen to pursue
the manufacture of the glue but the board of directors overruled him and decided that the company should stick to
its core business.
The managing director of Dank plc is a friend of Des’s and has told him that Dank plc will not be renewing its contract
with Clean Ltd as he is not happy with its performance. He also told Des that he would be happy to continue to deal
with him, if only he was not linked to Clean Ltd.
Following that discussion Des resigned from his position as managing director of Clean Ltd and set up his own
company, Flush Ltd which later entered into a contract with Dank plc to replace Clean Ltd. Flush Ltd also

2015年6月ACCA F5考试真题及答案

Performance
Management
Monday 8 June 2009

ALL FIVE questions are compulsory and MUST be attempted
1 Yam Co is involved in the processing of sheet metal into products A, B and C using three processes, pressing,
stretching and rolling. Like many businesses Yam faces tough price competition in what is a mature world market.
The factory has 50 production lines each of which contain the three processes: Raw material for the sheet metal is
first pressed then stretched and finally rolled. The processing capacity varies for each process and the factory manager
has provided the following data:
Processing time per metre in hours
Product A Product B Product C
Pressing 0·50 0·50 0·40
Stretching 0·25 0·40 0·25
Rolling 0·40 0·25 0·25
The factory operates for 18 hours each day for five days per week. It is closed for only two weeks of the year for
holidays when maintenance is carried out. On average one hour of labour is needed for each of the 225,000 hours
of factory time. Labour is paid $10 per hour.
The raw materials cost per metre is $3·00 for product A, $2·50 for product B and $1·80 for product C. Other factory
costs (excluding labour and raw materials) are $18,000,000 per year. Selling prices per metre are $70 for product
A, $60 for product B and $27 for product C.
Yam carries very little inventory.
Required:
(a) Identify the bottleneck process and briefly explain why this process is described as a ‘bottleneck’.
(3 marks)

2015年6月特许公认会计师（ACCA）F6考试真题及答案

Taxation
(United Kingdom)
Monday 1 June 2009.

ALL FIVE questions are compulsory and MUST be attempted
1 Domingo, Erigo and Fargo Gomez are three brothers. The following information is available for the tax year 2008–09:
Domingo Gomez
(1) Domingo is aged 67.
(2) During the tax year 2008-09 he received the state pension of £4,500 and a private pension of £2,300.
(3) In addition to his pension income Domingo received building society interest of £14,400 and interest of £600
on the maturity of a savings certificate from the National Savings and Investments Bank during the tax year
2008–09. These were the actual cash amounts received.
(4) During the tax year 2008–09 Domingo made donations of £300 (gross) to local charities. These were not made
under the gift aid scheme.
Erigo Gomez
(1) Erigo is aged 56.
(2) He is employed as a business journalist by Economical plc, a magazine publishing company. During the tax year
2008–09 Erigo was paid a gross annual salary of £36,000.
(3) During the tax year 2008–09 Erigo used his private motor car for business purposes. He drove 18,000 miles in
the performance of his duties for Economical plc, for which the company paid an allowance of 20 pence per
mile.
(4) During June 2008 Economical plc paid £11,400 towards the cost of Erigo’s relocation when he was required to
move his place of employment. Erigo’s previous main residence was 140 miles from his new place of
employment with the company. The £11,400 covered the cost of disposing of Erigo’s old property and of
acquiring a new property.
(5) Erigo contributed 6% of his gross salary of £36,000 into Economical plc’s HM Revenue and Customs’ registered
occupational pension scheme.

2015年6月特许公认会计师（ACCA）F7考试真题及答案

2 The following trial balance relates to Pricewell at 31 March 2009:
$’000 $’000
Leasehold property – at valuation 31 March 2008 (note (i)) 25,200
Plant and equipment (owned) – at cost (note (i)) 46,800
Plant and equipment (leased) – at cost (note (i)) 20,000
Accumulated depreciation at 31 March 2008
Owned plant and equipment 12,800
Leased plant and equipment 5,000
Finance lease payment (paid on 31 March 2009) (note (i)) 6,000
Obligations under finance lease at 1 April 2008 (note (i)) 15,600
Construction contract (note (ii)) 14,300
Inventory at 31 March 2009 28,200
Trade receivables 33,100
Bank 5,500
Trade payables 33,400
Revenue (note (iii)) 310,000
Cost of sales (note (iii)) 234,500
Distribution costs 19,500
Administrative expenses 27,500
Preference dividend paid (note (iv)) 2,400
Equity dividend paid 8,000
Equity shares of 50 cents each 40,000
6% redeemable preference shares at 31 March 2008 (note (iv)) 41,600
Retained earnings at 31 March 2008 4,900
Current tax (note (v)) 700
Deferred tax (note (v)) 8,400
–––––––– ––––––––
471,700 471,700
–––––––– ––––––––

2014年6月、12月ACCA F6（United Kingdom）考试真题及答案

Taxation
(United Kingdom)
Monday 2 June 2008

National insurance contributions
(not contracted out rates)
%
Class 1 Employee £1 – £5,225 per year Nil
£5,226 – £34,840 per year 11·0
£34,841 and above per year 11·0
Class 1 Employer £1 – £5,225 per year Nil
£5,226 and above per year 12·8
Class 1A 12·8
Class 2 £2·20 per week
Class 4 £1 – £5,225 per year Nil
£5,226 – £34,840 per year 8·0
£34,841 and above per year 1·0
Rates of interest
ALL FIVE questions are compulsory and MUST be attempted
1 Sam and Kim White are a married couple. Sam is aged 36 and Kim is aged 38. The following information is available
for the tax year 2007–08:
Sam White
(1) Sam is self-employed running a retail clothing shop. His profit and loss account for the year ended 5 April 2008
is as follows:
Note £ £
Gross profit 140,300
Depreciation 7,600
Motor expenses 2 8,800
Patent royalties 3 700
Professional fees 4 1,860
Other expenses 5 71,340
–––––––
(90,300)
––––––––
Net profit 50,000
––––––––
(2) During the year ended 5 April 2008 Sam drove a total of 25,000 miles, of which 5,000 miles were driven when
he visited his suppliers in Europe. The balance of the mileage is 25% for private journeys and 75% for business
journeys in the United Kingdom.
(3) During the year ended 5 April 2008 Sam paid patent royalties of £700 (gross) in respect of specialised
technology that he uses when altering clothes for customers.
(4) The figure for professional fees consists of £1,050 for legal fees in connection with an action brought against a
supplier for breach of contract and £810 for accountancy. Included in the figure for accountancy is £320 in
respect of personal capital gains tax advice for the tax year 2006–07.
(5) The figure for other expenses of £71,340 includes £560 for gifts to customers of food hampers costing £35 each
and £420 for gifts to customers of pens carrying an advertisement for the clothing shop costing £60 each.
(6) Sam uses one of the eight rooms in the couple’s private house as an office for when he works at home. Th
running costs of the house for the year ended 5 April 2008 were £5,120. This cost is not included in th
and loss account expenses of £90,300.
(7) Sam uses his private telephone to make business telephone calls. The total cost of the private telephone
year ended 5 April 2008 was £1,600, and 25% of this related to business telephone calls. The cost of the
telephone is not included in the profit and loss account expenses of £90,300.
(8) During the year ended 5 April 2008 Sam took goods out of the clothing shop for his personal use without
for them and no entry has been made in the accounts to record this. The goods cost £820, and had a
price of £1,480.
(9) The tax written down values for capital allowance purposes at 6 April 2007 were as follows:
£
General pool 14,800
Expensive motor car 20,200
The expensive motor car is used by Sam.
Kim White

2015年6月特许公认会计师（ACCA）F9考试真题及答案

Financial Management
Thursday 4 June 2009

2 PV Co is evaluating an investment proposal to manufacture Product W33, which has performed well in test marketing
trials conducted recently by the company’s research and development division. The following information relating to
this investment proposal has now been prepared.
Initial investment $2 million
Selling price (current price terms) $20 per unit
Expected selling price inflation 3% per year
Variable operating costs (current price terms) $8 per unit
Fixed operating costs (current price terms) $170,000 per year
Expected operating cost inflation 4% per year
The research and development division has prepared the following demand forecast as a result of its test marketing
trials. The forecast reflects expected technological change and its effect on the anticipated life-cycle of Product W33.
Year 1 2 3 4
Demand (units) 60,000 70,000 120,000 45,000
It is expected that all units of Product W33 produced will be sold, in line with the company’s policy of keeping no
inventory of finished goods. No terminal value or machinery scrap value is expected at the end of four years, when
production of Product W33 is planned to end. For investment appraisal purposes, PV Co uses a nominal (money)
discount rate of 10% per year and a target return on capital employed of 30% per year. Ignore taxation.
Required:
(a) Identify and explain the key stages in the capital investment decision-making process, and the role of
investment appraisal in this process. (7 marks)
(b) Calculate the following values for the investment proposal:
(i) net present value;
(ii) internal rate of return;
(iii) return on capital employed (accounting rate of return) based on average investment; and
(iv) discounted payback period. (13 marks)
(c) Discuss your findings in each section of (b) above and advise whether the investment proposal is financially
acceptable. (5 marks)
(25 marks)

2015年6月特许公认会计师（ACCA）P1考试真题及答案

Professional
Accountant
Monday 8 June 2009

Section B – TWO questions ONLY to be attempted
2 In a major policy speech, Government finance minister Mrs Wei Yttria said that the audit and assurance industry’s
work should always be judged by the effect it has on public confidence in business. She said that it was crucial that
professional services such as audit and assurance should always be performed in the public interest and that there
should be no material threats to the assurer’s independence. Enron and other corporate failures happened, she said,
because some accountants didn’t understand what it was to act in the public interest. She stressed that it was
important that firms should not provide more than one service to individual clients. If a firm audited a client then, she
said, it shouldn’t provide any other services to that client.
Mr Oggon Mordue, a financial journalist who had worked in audit and assurance for many years, was in the audience.
He suggested that the normal advice on threats to independence was wrong. On the contrary in fact, the more services
that a professional services firm can provide to a client the better, as it enables the firm to better understand the client
and its commercial and accounting needs. Mrs Yttria disagreed, saying that his views were a good example of
professional services firms not acting in the public interest.
Mr Mordue said that when he was a partner at a major professional services firm, he got to know his clients very well
through the multiple links that his firm had with them. He said that he knew all about their finances from providing
audit and assurance services, all about their tax affairs through tax consulting and was always in a good position to
provide any other advice as he had acted as a consultant on other matters for many years including advising on
mergers, acquisitions, compliance and legal issues. He became very good friends with the directors of client
companies, he said. The clients, he explained, also found the relationship very helpful and the accounting firms did
well financially out of it.
Another reporter in the audience argued with Mr Mordue. Ivor Nahum said that Mr Mordue represented the ‘very
worst’ of the accounting profession. He said that accounting was a ‘biased and value laden’ profession that served
minority interests, was complicit in environmental degradation and could not serve the public interest as long as it
primarily served the interests of unfettered capitalism. He said that the public interest was badly served by accounting,
as it did not address poverty, animal rights or other social injustices.

2015年6月特许公认会计师（ACCA）P2考试真题及答案

Corporate Reporting
(International)
Tuesday 9 June 2009

(ii) On 1 June 2007, Bravado acquired 6% of the ordinary shares of Mixted. Bravado had treated this investment
as available-for-sale in the financial statements to 31 May 2008 but had restated the investment at cost on
Mixted becoming a subsidiary. On 1 June 2008, Bravado acquired a further 64% of the ordinary shares of
Mixted and gained control of the company. The consideration for the acquisitions was as follows:
Holding Consideration
$m
1 June 2007 6% 10
1 June 2008 64% 118
––––– ––––
70% 128
––––– ––––
Under the purchase agreement of 1 June 2008, Bravado is required to pay the former shareholders 30% of the
profits of Mixted on 31 May 2010 for each of the financial years to 31 May 2009 and 31 May 2010. The fair
value of this arrangement was estimated at $12 million at 1 June 2008 and at 31 May 2009 this value had not
changed. This amount has not been included in the financial statements.
At 1 June 2008, the fair value of the equity interest in Mixted held by Bravado before the business combination
was $15 million and the fair value of the non-controlling interest in Mixted was $53 million. The fair value of
the identifiable net assets at 1 June 2008 of Mixted was $170 million (excluding deferred tax assets and
liabilities), and the retained earnings and other components of equity were $55 million and $7 million
respectively. There had been no new issue of share capital by Mixted since the date of acquisition and the excess
of the fair value of the net assets is due to an increase in the value of property, plant and equipment (PPE).
The fair value of the PPE was provisional pending receipt of the final valuations for these assets. These valuations
were received on 1 December 2008 and they resulted in a further increase of $6 million in the fair value of the
net assets at the date of acquisition. This increase does not affect the fair value of the non-controlling interest.
PPE is depreciated on the straight-line basis over seven years. The tax base of the identifiable net assets of Mixted
was $166 million at 1 June 2008. The tax rate of Mixted is 30%.
(iii) Bravado acquired a 10% interest in Clarity, a public limited company, on 1 June 2007 for $8 million. The

2015年6月特许公认会计师（ACCA）P3考试真题及答案

Business Analysis
Wednesday 10 June 2009

When Xsys has completed the construction of the computer it arranges for the international logistics company EIM to
deliver the machine to greenTech for testing. After acceptance testing the machine, greenTech e-mails the customer,
agrees a delivery date and arranges for delivery by courier.
Recent feedback from customers suggests that missing promised delivery dates is their biggest complaint. This is
because the delivery date agreed early in the order process cannot necessarily be matched by Xsys when it actually
receives the confirmed order. Figure 4 shows the process involved.
Required:
(a) Evaluate the current strategic position of greenTech using a SWOT analysis. (12 marks)
(b) The panel selected the proposal of Professor Ag Wan as the winning proposal.
Write a briefing paper evaluating the three proposals and justifying the selection of the proposal of Professor
Ag Wan as the best strategic option for greenTech to pursue.
Note: requirement (b) includes 2 professional marks. (20 marks)
(c) (i) Identify deficiencies in the current Internet-based process for ordering and configuring fully assembled
green computers. Recommend a new process, together with its implications, for remedying these
deficiencies. (10 marks)
(ii) The board is determined to link strategy with current and future processes.
Analyse the relationship between process design and strategic planning using the context of greenTech
to illustrate your analysis.
Note: requirement (c)(ii) includes 2 professional marks. (8 marks)
(50 marks)

2015年6月ACCA P4考试真题及答案

Advanced Financial
Management
Thursday 4 June 2009

In recent years commercial property values have risen in real terms by 4% per annum. Current inflation is 2·5% per
annum. Property rentals currently earn an 8% return.
The proposal is that 50% of the property portfolio (land and buildings) and 50% of the assets under construction
would be sold to a newly established property holding company called RPH that would issue bonds backed by the
assured rental income stream from BBS Stores. BBS Stores would not hold any equity interest in the newly formed
company nor would they take any part in its management.
BBS Stores is currently financed by equity in the form of 25c fully paid ordinary shares with a current market value
of 400c per share. The capital debt for the company consists of medium-term loan notes of which $360 million are
repayable at the end of two years and $770 million are repayable at the end of six years. Both issues of medium-
term notes carry a floating rate of LIBOR plus 70 basis points. The interest liability on the six year notes has been
swapped at a fixed rate of 5·5% in exchange for LIBOR which is also currently 5·5%. The reduction in the firm’s
gearing implied by option 1 would improve the firm’s credit rating and reduce its current credit spread by 30 basis
points. The change in gearing resulting from the second option is not expected to have any impact upon the firm’s
credit rating. There has been no alteration in the rating of the company since the earliest debt was issued.
The BBS Stores equity beta is currently 1·824. A representative portfolio of commercial property companies has an
equity beta of 1·25 and an average market gearing (adjusted for tax) of 50%. The risk free rate of return is 5% and
the equity risk premium is 3%. The company’s current accounting rate of return on new investment is 13% before
tax. You may assume that debt betas are zero throughout.
The effective rate of company tax is 35%.
Required:
On the assumption that the property unbundling proceeds, prepare a report for consideration by senior
management which should include the following:
(a) A comparative statement showing the impact upon the statement of financial position and on the earnings
per share on the assumption that the cash proceeds of the property sale are used:
(i) To repay the debt, repayable in two years, in full and for reinvestment in non-current assets;

2015年6月ACCA P5考试真题及答案

Advanced Performance
Management
Friday 5 June 2009

Section A – BOTH questions are compulsory and MUST be attempted
1 The Royal Laurel Hospital (RLH) and The King Hardy Hospital (KHH) are government funded institutions which are
managed by the Glasburgh Trust. The following information is available for the year ended 31 May 2009.
RLH RLH KHH
Actual Budget Actual
Total inpatients 37,000 36,500 40,000
Number of inpatients waiting >5 weeks for admission 3,330 365 320
Number of inpatients waiting >11weeks for admission 740 0 0
Total outpatients 44,000 43,800 44,000
Number of outpatients waiting >5 weeks for treatment 4,400 2,190 352
Number of outpatients waiting >11 weeks for treatment 1,320 438 220
Number of outpatients waiting >13 weeks for treatment 220 0 0
Achievement (%) of target maximum waiting time of 2 weeks for
admission to Rapid Access Chest Pains Clinic 70 98 100
Number of emergency admissions 300 400 300
Number of 12 hour ‘trolley’ waits for emergency admissions 4 0 0
Achievement (%) of target of 4 hours or less time spent in
accident and Emergency ward 96 98 100
Number of complaints received 1,620 803 420
Number of complaints responded to within 25 days 1,539 803 416
Number of deaths (all inpatients) 600 730 800
Infection control – number of instances of infections reported 2 6 0
Number of drug administration errors 80 100 20
Number of staff shortages 80 60 20
Staff productivity measure (number of patient days per staff member) 8·4 7·4 9·2
Number of times of Government or agency staff usage 80 60 20
Bed occupancy (number of inpatient bed days) 138,750 146,000 134,320
Theatre utilisation (%) ? ? ?
% of inpatients requiring a single operation 80% 80% 80%
Number of operations performed 29,008 ? 31,840
Revenue from clinical and non-clinical activities ($m) 54·2 55·2 60·2
Medical staff costs ($m) 22·3 22·2 19·6
Other staff costs ($m) 5·5 5·5 4·0
Income and expenditure surplus margin (1·0) 0·0 4·0

2015年6月特许公认会计师（ACCA）P6考试真题及答案

Advanced Taxation
(United Kingdom)
Monday 1 June 2009

2 An extract from an e-mail from your manager following a meeting he has had with Charleston Dance is set out below.
I attach a memorandum summarising the matters discussed in a meeting I had yesterday with Charleston. I also
attach a calculation of the inheritance tax due on his father’s death as prepared by his friend, Lindy. I have not had
the chance to look at this in detail but I can confirm that the annual exemptions and the taper relief have been
applied correctly and that there are no arithmetical errors; please review it with care.
I want you to write a letter from me to Charleston covering the following issues.
(i) Inheritance tax
– Brief explanations of any errors you find when you review Lindy’s calculation of the inheritance tax due
on Charleston’s father’s death and the effect of correcting the errors on the total inheritance tax due.
(ii) Investments and pensions
– The suitability of investing in venture capital trusts and a summary of the tax reliefs available in respect
of such an investment.
– The maximum tax allowable pension contributions that can be made by Charleston and Betty and the
effect on this, if any, of purchasing further rental properties.
(iii) Income tax planning
– Calculations, with supporting explanations to show that the total tax payable would increase (rather than
decrease!) if he were to transfer all of the quoted shares and government stocks to a company wholly
owned by him. Use the income figures from Lindy’s inheritance tax calculation for these purposes and
assume that the whole of the new company’s post-tax income would be paid as a dividend to Charleston.
– The income tax advantages of Charleston transferring investments to Betty or their children.
– The points that Charleston needs to be aware of in connection with tax avoidance schemes and the
taxation of the Balboan properties.
Thank you

2015年6月特许公认会计师（ACCA）P7考试真题及答案

Advanced Audit and
Assurance
(International)
Tuesday 2 June 2009

2 (a) Explain FOUR reasons why a firm of auditors may decide NOT to seek re-election as auditor. (6 marks)
The Dragon Group is a large group of companies operating in the furniture retail trade. The group has expanded rapidly
in the last three years, by acquiring several subsidiaries each year. The management of the parent company, Dragon
Co, a listed company, has decided to put the audit of the group and all subsidiaries out to tender, as the current audit
firm is not seeking re-election. The financial year end of the Dragon Group is 30 September 2009.
You are a senior manager in Unicorn & Co, a global firm of Chartered Certified Accountants, with offices in over 150
countries across the world. Unicorn & Co has been invited to tender for the Dragon Group audit (including the audit
of all subsidiaries). You manage a department within the firm which specialises in the audit of retail companies, and
you have been assigned the task of drafting the tender document. You recently held a meeting with Edmund Jalousie,
the group finance director, in which you discussed the current group structure, recent acquisitions, and the group’s
plans for future expansion.
Meeting notes – Dragon Group
Group structure
The parent company owns 20 subsidiaries, all of which are wholly owned. Half of the subsidiaries are located in
the same country as the parent, and half overseas. Most of the foreign subsidiaries report under the same financial
reporting framework as Dragon Co, but several prepare financial statements using local accounting rules.
Acquisitions during the year
Two companies were purchased in March 2009, both located in this country:
(i) Mermaid Co, a company which operates 20 furniture retail outlets. The audit opinion expressed by the
incumbent auditors on the financial statements for the year ended 30 September 2008 was qualified by a
disagreement over the non-disclosure of a contingent liability. The contingent liability relates to a court case
which is still on-going.
(ii) Minotaur Co, a large company, whose operations are distribution and warehousing. This represents a
diversification away from retail, and it is hoped that the Dragon Group will benefit from significant economies
of scale as a result of the acquisition.
Other matters
The acquisitive strategy of the group over the last few years has led to significant growth. Group revenue has
increased by 25% in the last three years, and is predicted to increase by a further 35% in the next four years as
the acquisition of more subsidiaries is planned. The Dragon Group has raised finance for the acquisitions in the
past by becoming listed on the stock exchanges of three different countries. A new listing on a foreign stock
exchange is planned for January 2010. For this reason, management would like the group audit completed by

ACCA P3冲刺讲义-PPT讲座下载

Opening Speech

An unique and interesting course
characteristics of the examination
Narrative (English writing skill)
Analytic (no right answer)
Exam skills: theory plus imagination
points plus example

Strategic process
In General
Levels of strategy
Process, content of strategy
Design, experience, idea of strategy

Linkage with other models: culture, mission & objective
Environmental Scanningsuitability analysis

PESTEL analysis
Porter’s diamond
The five forces model
Market Mix
Market Segments

PESTEL
Political (Legal) factor : mandatory
Economy factor: adapting
Social factor: adapting and leading
Technology factor: using & compensate when lack
Environmental protection: social trends and responsibility

Macro environment analysis, rarely used isolated, unless required.

Character
Overlapping among factors
Vary due to regional change: national/global

Linkage with other models: stakeholder mapping, SWOT,

中国工商银行ACCA培训班F6串讲讲义PPT课件

Course Contents
Revision on Syllabus Contents
The UK tax system
Income tax liabilities
Corporation tax liabilities
Chargeable gains
National insurance contributions
Value added tax
The obligations of taxpayer and/or their agents
Mock Exam Illustration
Calculations of Income Tax Liabilities
Calculations of Corporation Tax Liabilities
Questions on Value Added Tax
Calculations of Chargeable Gains
Calculations of Tax Planning – Assessment of Trading Income, Loss Relief, Pay Packages, Group Relief
Miscellaneous Topics

Course Contents
Revision on Syllabus Contents
The UK tax system
Income tax liabilities
Corporation tax liabilities
Chargeable gains
National insurance contributions
Value added tax
The obligations of taxpayer and/or their agents
Mock Exam Illustration
Calculations of Income Tax Liabilities
Calculations of Corporation Tax Liabilities
Questions on Value Added Tax
Calculations of Chargeable Gains
Calculations of Tax Planning – Assessment of Trading Income, Loss Relief, Pay Packages, Group Relief
Miscellaneous Topics

The UK tax system
The overall UK tax system mainly runs as self-assessment. A number of economic and social factors determine details of tax treatment: encourage of individual saving habits, giving to charity, environmental protection; discourage motoring, smoking & alcohol and environmental pollutions

F6 discuss five tax types including Income Tax, Corporation Tax, Value Added Tax, Capital Gain Tax and National Insurance Contribution. However, general rules are similar 1)there must be a chargeable person (individual vs incorporated entity) for tax assessment 2)there must be a chargeable period for tax assessment – the main task in F6 for candidates is to assess different kinds of taxable profit/income and determine applicable tax rates for calculation of tax liabilities

Exam in 2008 Dec still base on Finance Act 2007 with reference to all kinds of case laws in place

Tax planning means realization of tax avoidance with uses of charges, allowances and reliefs. Only most tax beneficial method is regarded as the correct answer. Tax evasion is forbidden and discloser of such issues will cause punishment.
Course Contents
Revision on Syllabus Contents
The UK tax system
Income tax liabilities
Corporation tax liabilities
Chargeable gains
National insurance contributions
Value added tax
The obligations of taxpayer and/or their agents
Mock Exam Illustration
Calculations of Income Tax Liabilities
Calculations of Corporation Tax Liabilities
Questions on Value Added Tax
Calculations of Chargeable Gains
Calculations of Tax Planning – Assessment of Trading Income, Loss Relief, Pay Packages, Group Relief
Miscellaneous Topics

Income Tax Liabilities
Income tax is a tax levied on individuals by reference to their taxable income for a fiscal year.

In Exam Question One is an income tax question which most likely contain trading income and income tax computation. There may also be marks for trading losses benefits pensions and national insurance contributions and the residence status of an individual.

Subtopics
Classification of different sources of income
Income Tax Computation – Taxable Income Computation, Calculation of Liability
Aging Allowance and Extended Band of Basic Rate
Tax payable, Balancing Payment and Payment on Accounts
Assessment of Taxable Trading Profit – Adjustment of Trading Profit, Partnership, Basis Period Adjustment
Business Property Income
Employment Income
Loss Reliefs
Classification of Different Sources of Income
Taxable income computation
Taxable income computation
Income Tax Liability
Sample of Income Tax Liability
Aging Allowance
Extended Band of Basic Rate
Tax payable, Balancing Payment, Payments on Account
Assessment of Taxable Trading Profit
Adjustment of Account Profit to Taxable Profit
NET PROFIT PER ACCOUNTS X

ADD BACK:
– Expenditure not deductible for tax purpose (X)
X
DEDUCT:
– Income assessable under other categoriesX
– Non-taxable income X
(X)
ADJUSTED PROFITS X

Less: CAPITAL ALLOWANCES *business related
– Plant & machinery (X)
– Industrial buildings (X)

Tax adjusted trading profitsX

Typical Expenditure by a business
Typical Expenditure by a business
Sample
Tips for Adjustment of Account Profit to Taxable Profit
Disallowed
Capital expenditure
General provision
Entertainment (exempt. For staff/ customer conditional)
Donation
Legal and professional charges

Re-class
Gift aid donation
Legal and professional charges
interest related
Capital Allowance On P & M
Short Life Asset
Long Life Asset
Private use assets
Sample of Capital Allowance – P& M

中国工商银行ACCA培训班F7串讲讲义PPT课件

PAPER F7
FINAL REVIEW
GROUP ACCOUNTING
The concepts and basic principles in relation to consolidated financial statements are involved in:

IFRS 3 Business Combinations (revised in January 2008)
IAS 27 Consolidated and Separate Financial Statements
IAS 28 Investments in Associates
What you are required at Paper F7 stage
Preparation of consolidated statement of financial position under the circumstance of a single group

Calculation of goodwill, NCI and consolidated reserve
Dealing with FV adjustments
Dealing with intercompany items
Dealing with pre-acquisition dividend
Dealing with associate
inclusion in or exclusion from consolidation

What you are required at Paper F7 stage
Preparation of consolidated income statement under the circumstance of a single group

Use of a worksheet
Dealing with associate
Dealing with intercompany items
The effects of newly issued IFRS3 on exam
Under old IFRS3
Goodwill = cost of business combination
– P% (FV of NA of sub. at acq.)
Only g/w attributable to Parent is calculated.

Implicit assumption:
At the date of acquisition
MI = MI% (FV of NA of sub. at acq.)
The effects of newly issued IFRS3 on exam
Under new IFRS3 (contents marked with★ are what you are required to grasp)

★Goodwill = consideration transferred by Parent (B)
+ NCI (A)
– FV of NA of sub. at acq. (C)

In (A), (B) and (C) there is something you must keep in mind.

The effects of newly issued IFRS3 on exam
(A) At acq. ★NCI is measured
① NCI% (FV of NA of sub. at acq.)
Calculation of g/w is the same as old IFRS3.
② FV of shared held by NCI
attributable to Parent
consideration P – P% (FV of NA of sub. at acq.)
g/w =
NCI – NCI% (FV of NA of sub. at acq.)
attributable to NCI
The effects of newly issued IFRS3 on exam
(B) Consideration transferred by Parent

★Acquisition-related costs shall be expensed.
★Contingent consideration is measured as acquisition-date FV.
Whether or not part of exchange for acquiree.

The effects of newly issued IFRS3 on exam
(C) FV of NA of sub. at acq.
All identifiable intangible assets acquired in business combination shall be recognised separately from goodwill.

Thus under new IFRS3 more intangible recognised.
The effects of newly issued IFRS3 on exam
The effects of newly issued IFRS3 on exam
The effects of newly issued IFRS3 on exam
The effects of newly issued IFRS3 on exam
The effects of newly issued IFRS3 on exam
SOFP (if NCI is measured at FV at acq.)
Asset
goodwill: – unimpaired total g/w

Equity and liabilities
consolidated reserve:
P + P% (post acq. reserve of sub.) – impaired g/w to P
NCI:
NCI% (FV of FV of sub. at y/e) + unimpaired g/w to NCI
Technical issues –Tip
Technical issues – Associate
You shall apply equity method when dealing with associate in preparation of consolidated financial statements.
In the consolidated statement of financial position
“Investment in associates”
– Initial cost of investment + group’s share ofassociate’s
post-acquisition retained profit
– Group’s share of associate’s net assets at y/e + g/w
Technical issues – Associate
In the consolidated income statement
“Group’s share of the associate’s post-tax profit” should be shown as a single figure in the consolidated income statement. However, in examination the presentation showing “Group’s share of the associate’s pre-tax profit” and “group’s share of the associate’s tax” is also acceptable.
Technical issues – Inter-company items
At Paper F7 stage the inter-company items with which we would most likely be faced are inter-company sales and current account between group members.

In addition, we should also pay attention to intra-group fixed asset transfers and intra-group dividends and proposed dividends.
Technical issues – Inter-company items
You should be able to deal with inter-company sales with resulting unsold inventory both between parent and subsidiary and between parent and associate.
The key point to dealing with intra-group fixed asset transfers is to identify who recognised unrealised profit on transfer (i.e. who made the sale) and who recognised additional depreciation.
For intra-group dividends and proposed dividends you should make clear whether or not the company involved have accounted for dividends or proposed dividends in their own accounts.
Technical issues – Pre-acquisition dividend
Pre-acquisition dividends are paid after acquisition but arise from pre-acquisition accumulated profits.
The most likely circumstances under which you are required to deal with pre-acquisition dividend is when acquisition took place during the period and the acquiree paid dividend after acquisition.
The parent would treat its share of the post-acquisition dividend as realised in its own accounts; its share of the pre-acquisition dividend would be treated as unrealised and credited against the consideration paid for the subsidiary.

ACCA P1、P2、P3冲刺串讲讲义资料下载

ACCA_P1讲义_Dec2009.pdf

PAPER_P2_final_review.ppt

ACCA P3冲刺讲义.ppt

ACCA_P1讲义_Dec2009.pdf

PaperP1

Professional Accountant

REVISION COURSE

For Dec. 2009 Exam

Lecturer: Mr. Chen

PAPER_P2_final_review.ppt

Effects of newly issued IFRS3 in Paper F7
Effects of newly issued IFRS3 in Paper F7
Effects of newly issued IFRS3 on simple group question
(B) Consideration transferred by Parent

★Acquisition-related costs shall be expensed.
★Contingent consideration is measured as acquisition-date FV (▲subsequent measurement required in Paper P2).
Whether or not part of exchange for acquiree (▲required in Paper P2).

Effects of newly issued IFRS3 on simple group question
Subsequent measurement of contingent consideration

if due to additional information
–measurement period adjustment
if due toevents after acquisition
–contingent consideration

liability or assetequity

IAS39 / IAS37not remeasured

Effects of newly issued IFRS3 on simple group question
Whether or not part of exchange for acquiree
The transaction

No Yes
(separate transaction)
Effects of newly issued IFRS3 on simple group question
(C) FV of NA of sub. at acq.
All identifiable intangible assets acquired in business combination shall be recognised separately from goodwill.

Thus under new IFRS3 more intangible recognised.
Effects of newly issued IFRS3 in Paper F7
SOFP (if NCI is measured at FV at acq.)
Asset
goodwill: – unimpaired total g/w

Equity and liabilities
consolidated reserve:
P + P% (post acq. reserve of sub.) – impaired g/w to P
NCI:
NCI% (FV of FV of sub. at y/e) + unimpaired g/w to NCI

ACCA P3冲刺讲义.ppt

Porter’s Diamond
Demand conditions: customer
Favorable factor conditions: general & specific, how to make it fav~
Relating and supporting industries: upstream & downstream
Firm strategy, structure and rivalry: competitiveness

Usage of this model:
Global competition or similar situation
Inward and outward use
Function of government : catalyst
Different stage of globalization has different character in 4 factors

Linkage with other models: 5 forces, globalization (motivation)
Five forces model
Treats from potential entrants: market share
Suppliers’ bargaining power: price, quality
Buyers’ bargaining power: price & quality
Treats from substitutes: price, quality
Competitive rivalry: price, market share

Key points:
Power, consequence and countermeasures of different forces
Competitiveness and collaboration

Linkage with other models: Porter’s diamond, product life cycle, marketing issue
Market Mix
Product: life cycle, BCG
Place: channel, logistics
Promotion: AIDA, media (promotion mix)
Price: strategic clock
People: Value chain (for service industry)
Processes: Value chain (for service industry)
Physical evidence (for service industry)
Market Segmentation
Base of the segmentation
B2C
B2B
E-business

Customer and market strategy
Niche
Differentiated
mass marketing

Linkage with other models: Product, value chain, 5 forces, marketing issues (7 Ps)

acca p2培训录音下载

acca p2培训录音文件下载，文件大小108M

ACCA P3历年试题大全（2002年-2014年）

包含（2002年-2014年）ACCA P3历年考试真题及答案，文件列表如下：
Dec-2002.PDF、Dec-2003.PDF、Dec-2004.PDF、Dec-2005.PDF、Dec-2006.PDF、Dec-2007.PDF、Dec-2008.PDF；
June-2003.PDF、June-2004.PDF、June-2005.PDF、June-2006.PDF、June-2007.PDF、June-2008.PDF；

Business Analysis
Wednesday 11 June 2008

Time allowed
Reading and planning: 15 minutes
Writing: 3 hours
This paper is divided into two sections:
Section A – This ONE question is compulsory and MUST be attempted
Section B – TWO questions ONLY to be attempted

Section A – This ONE question is compulsory and MUST be attempted
The following information should be used when answering question 1.
1 Introduction
AutoFone was established almost twenty years ago at the beginning of the mobile telephone boom. It was formed by
a dynamic Chief Executive Officer (CEO) who still remains a major shareholder of the company.
AutoFone brought two new concepts to the market. Firstly, it established retail shops where customers could go and
handle the products and discuss mobile phone options with trained sales people. Before AutoFone, all mobile
telephones were sold through the customer directly contacting the telephone network provider (like conventional home
land line services) and were generally aimed at business rather than leisure users. Secondly, AutoFone sold products
and services from all the four major network providers licensed by the government to provide telecommunications
services in the country. Previously, customers could only choose products and services from within one network
provider’s range. AutoFone allowed customers to choose products and services across the range of the four providers
and reflected this in the company’s motto ‘ethical advice: the customer’s choice’.
In 1990, AutoFone signed a thirty-year supply contract with each provider. Although, in retrospect, these deals were
on commercially favourable terms for AutoFone, the network providers were happy to agree these deals because none
of them believed that mobile telephones could be successfully sold through retail shops. However, speaking in 2003,
the managing director of one of the networks suggested ‘that AutoFone had got away with incredible profit margins’
when they signed the deals in 1990. The four network providers themselves had re-signed twenty-five year licence
deals with the government in 1995. Under the terms of these deals, licences will be restricted to the four current
providers until their renewal date of 2020.
Retail shops Division
AutoFone currently has 415 shops around the country. To reduce costs most shops are on the edge of (but not in)
the main shopping area of the town they serve. It is usual for AutoFone to sign a fifty-year shop lease in return for
low initial annual rental and a rent-free period at the start of the lease while the company fits out the shop to reflect
AutoFone’s corporate image. In 1997, AutoFone floated on the country’s stock market to assist the funding of further
shops and so continue its organic growth. The national coverage of its shops, the publicity generated by its CEO and
a successful television advertising campaign culminated, in 2005, with it being rated by consumers as one of the top
20 brands in the country.
The CEO of AutoFone established the retail shops along, in his words, ‘entrepreneurial lines’. He regards each shop
as an independent business, having to achieve a profit target but without being closely monitored within these targets.
He believes that the company is ‘about providing opportunity to its employees, providing them with autonomy and
responsibility to achieve their goals. It is not about monitoring them every hour of the day, stifling creativity and
enthusiasm.’ To support this approach, sales staff are given a relatively low basic salary with a substantial element of
profit-related pay linked to the profit targets of the shop. Commission is also paid to sales staff who successfully sell
mobile phone insurance to the customer. Each shop is relatively small, usually employing three or four people.
In recent years the CEO has been increasingly involved in television, sports promotion and charity work. At AutoFone
he has established a strategic planning committee of senior headquarters managers to develop and implement the
company’s business strategy. This committee includes the two longest serving board directors. The strategy still
continues to have at its heart the central business idea of giving independent and impartial advice to customers so
that they can choose the best equipment and network for their needs.
Marketplace trends
Since AutoFone’s arrival into the market, two significant trends have emerged:
(i) The licensed network providers have opened their own retail stores, usually in city centres. AutoFone has reacted
to the opening of these shops by stressing AutoFone’s independence and impartiality. Only at AutoFone can
impartial advice be received on all four competing networks and their supporting services. The CEO now refers
to this as ‘our central business idea’ and, as well as being core to their strategy, it is heavily emphasised in all
their promotional material.

2009（ACCA）P2冲刺串讲 – PAPER P2 FINAL REVIEW PPT资料

Contents – group accounting
Review of what you are required at Paper F7 stage
Review of the effects of newly issued IFRS on simple group question
Effects of newly issued IFRS3 and IAS27 on complex group question
Indirect holding
Piecemeal acquisition
Disposal
Foreign currency translation
Group cash flow statement
GROUP ACCOUNTING
The concepts and basic principles in relation to consolidated financial statements are involved in:

IFRS 3 Business Combinations (revised in January 2008)
IAS 27 Consolidated and Separate Financial Statements (revised in January 2008)

IAS 28 Investments in Associates
What you are required at Paper F7 stage
Preparation of consolidated statement of financial position under the circumstance of a single group

Calculation of goodwill, NCI and consolidated reserve
Dealing with FV adjustments
Dealing with intercompany items
Dealing with pre-acquisition dividend
Dealing with associate
inclusion in or exclusion from consolidation

2015年12月ACCA考试P1冲刺串讲 – Paper P1 Professional Accountant REVISION COURSE PDF

Paper P1 Professional Accountant REVISION COURSE

For Dec. 2009 Exam

Lecturer: Mr. Chen

ACCA Paper P1
Professional Accountant
Core Areas & Relevant Questions

Corporate Governance
z The fundamental principles underlying good corporate governance. You may be asked
to define and explain any of the core principles of corporate governance, for examples
transparency/ openness was examined in Q1(a) in the December 2007 exam.
z Governance. In both exams so far the examiner has described a scenario where there is
an international conference discussing some aspect of corporate governance.
z The question requirements usually then require a discussion of two contrasting points of
view in respect of governance, Rules v principles or for and against harmonization of
corporate governance codes.
z The corporate governance best practice. You are likely to be given a scenario which
describes a business with poor corporate governance and be asked to assess its
corporate governance practices. ( June 2008 exam, question 3,and December 2008
exam question 3)
z Role and composition of various committees (December 2008 exam Q2)

Internal control and risk management
z Identification and assessment of business risk and/or a review of internal control
mechanisms. In sittings to date the examiner has asked for risks in the scenario to be

identified and then either assessed or a suitable risk response identified, (June 2008
exam, question 1(b) and (c) and December 2008 question 2(b) )
z Risk assessment and management
z Internal control (inc. internal audit)

Ethics and responsibility
z Professional values and ethics. This may be similar to questions on independence in
audit and assurance or may go beyond that to look at the wider obligations of
professional accountants (June 2008 exam, question 2)
z Ethical conflict resolution models (AAA and Tucker’s five questions) (2008/2009Study
Text question 9)
z Ethical Stances (particularly the Gray Owen Adams Model using 7 approaches to CSR)
z Ethics or corporate social responsibility (including sustainability). The questions in
this area have either been knowledge based for example in June 2008 recall a definition
of sustainable development. (December 2008 Q1 – the use of Tuckers model for ethical
decision making and question 4 deontology v teleology in the context of the use of child
labour.)

ACCA F4讲义 – Corporate and Business Law中英文DOC

Contents
HOW TO USE THIS HANDOUT4
HOW TO PREPARE FOR THE EXAM5
HOW TO PASS THE EXAM: EXAM SKILLS6
Session 1 ESSENTIAL ELEMENTS OF THE LEGAL SYSTEM10
Session 2 FORMATION OF CONTRACT25
Session 3 CONTENT OF CONTRACT43
Session 4 BREACH OF CONTRACT AND REMEDIES50
Session 5 THE LAW OF OBLIGATIONS――TORTS57
Session 6 EMPLOYMENT LAW68
Session 7 AGENCY LAW79
Session 8 PARTNERSHIPS82
Session 9 CORPORATIONS AND LEGAL PERSONALITY89
Session 10 COMPANY FORMATION96
Session 11 CAPITAL AND FINANCING OF COMPANIES102
Session 12 COMPANY DIRECTORS113
Session 13 OTHER COMPANY OFFICERS120
Session 14 COMPANY MEETINGS AND RESOLUTIONS125
Session 15 INSOLVENCY129
Session 16 CORPORATE GOVERNANCE134
Session 17 FRAUDULENT BEHAVIOUR139
APPENDIX 1: EXAMINER’S APPROACH TO F4(ENG)146
APPENDIX 2: EXAMINABILITY OF CA2006149
APPENDIX 3: COMPANIES ACT 2006 – PART ONE150
APPENDIX 4: COMPANIES ACT 2006– PART TWO158
APPENDIX 5: TABLE OF COMMENCEMENT DATES165
APPENDIX 6: MODIFICATION IN SYLLABUS (F4)169
APPENDIX 7: PAPER F4（ENG）Dec 2007173
APPENDIX 8: MOCK EXAM185

HOW TO USE THIS HANDOUT

1. Symbols:
★: exam points which have been tested in past exams. Student must know these points.
Others: potential exam points which have not been tested in past exams. However, these points could possibly be tested in the future. So students should also know these points.
Exam Practice: previous exam problems which would help you to understand those exam points including potential ones.

2. Exam questions statistics:
A useful tool for your preparation, listing all the points which have been tested in past exam. With this statistics, you could find out your focus during your preparation.

3. Sessions and practical questions:
This handout includes sessions in accordance with relevant sessions of the syllabus. Each session includes one practical question. All those practical questions are real exam questions appeared in past exams.

Part One: Legal System
(Including Session 1)

英国法律制度简介
英国法律的主要特征简单概况如下：（1）英国法律的基础是普通法的传统，它是几百年来由法官们通过判例而发展起来的一种“法官造法”制度，先例判决是英国法律制度的一个重要渊源；（2）法官在发展判例法和解释议会的制定法的含义方面发挥了重要作用。（3）法院的审理程序是控辩式，法官不调查案情，只是根据双方当事人提供给法庭的证据作出判决。法官通常不调查事实和收集证据，在法官眼里，只用证据，没有事实。
一、法院体系
英国的法院体系除了各种法院和治安官法庭外，还有许多具有准司法权的裁判所、委员会等，分别根据制定法的授权，专门处理某一方面的争议。
具有制定判例的能力：
上议院－－英国法院体系中，实际上的最高法院是作为终审法院的上议院。上议院享有民事和刑事的上诉终审权。
上诉法院－－The Court of Appeal，设刑事庭和民事庭，负责审理上诉案件。
高等法院－－The High Court，设王座庭，大法官庭和家事庭，对高等法院的判决不服的，可向上诉法院上诉。
不具有制定判例的能力：
王冠法院－－Crown Court，分不同辖区设立的刑事法院，目前唯一实行陪审制度的英国法院。

ACCA F5历年考试真题及答案大全（2002年-2014年）

包含（2002年-2014年）ACCA F5历年考试真题及答案，文件列表如下：
Dec-2002.PDF、Dec-2003.PDF、Dec-2004.PDF、Dec-2005.PDF、Dec-2006.PDF、Dec-2007.PDF、Dec-2008.PDF；
June-2003.PDF、June-2004.PDF、June-2005.PDF、June-2006.PDF、June-2007.PDF、June-2008.PDF；

In month 2 the following data applies:
Standard costs for 1 tonne of brown rice
– 1·4 tonnes of rice seeds are needed at a cost of $60 per tonne
– It takes 2 labour hours of work to produce 1 tonne of brown rice and labour is normally paid $18 per hour. Idle
time is expected to be 10% of hours paid; this is not reflected in the rate of $18 above.
– 2 hours of variable overhead at a cost of $30 per hour
– The standard selling price is $240 per tonne
– The standard contribution per tonne is $56 per tonne
Budget information for month 2 is
– Fixed costs were budgeted at $210,000 for the month
– Budgeted production and sales were 8,400 tonnes
The actual results for month 2 were as follows:
Actual production and sales were 8,000 tonnes
– 12,000 tonnes of rice seeds were bought and used, costing $660,000
– 15,800 labour hours were paid for, costing $303,360
– 15,000 labour hours were worked
– Variable production overhead cost $480,000
– Fixed costs were $200,000
– Sales revenue achieved was $1,800,000
Required:
(b) Calculate the variances for month 2 in as much detail as the information allows and reconcile the budget
profit to the actual profit using marginal costing principles. You are not required to comment on the
performance of the business or its managers for their performance in month 2
2 Higgins Co (HC) manufactures and sells pool cues and snooker cues. The cues both use the same type of good quality
wood (ash) which can be difficult to source in sufficient quantity. The supply of ash is restricted to 5,400 kg per
period. Ash costs $40 per kg.
The cues are made by skilled craftsmen (highly skilled labour) who are well known for their workmanship. The skilled
craftsmen take years to train and are difficult to recruit. HC’s craftsmen are generally only able to work for 12,000
hours in a period. The craftsmen are paid $18 per hour.
HC sells the cues to a large market. Demand for the cues is strong, and in any period, up to 15,000 pool cues and
12,000 snooker cues could be sold. The selling price for pool cues is $41 and the selling price for snooker cues is
$69.
Manufacturing details for the two products are as follows:
Pool cues Snooker cues
Craftsmen time per cue 0·5 hours 0·75 hours
Ash per cue 270 g 270 g
Other variable costs per cue $1·20 $4·70
HC does not keep inventory.

ACCA F6（China）历年试题大全（2004年-2014年）

包含（2004年-2014年）ACCA F6（China）历年考试真题及答案，文件列表如下：
Dec-2004.PDF、Dec-2005.PDF、Dec-2006.PDF、Dec-2007.PDF、Dec-2008.PDF；
June-2004.PDF、June-2005.PDF、June-2006.PDF、June-2007.PDF、June-2008.PDF；

Land appreciation tax
The ratio of increased value tax rate
against the value of deductible items
for the part 50% or below 30%
for the part above 50% to 100% 40%
for the part above 100% to 200% 50%
for the part above 200% 60%
Value added tax
For small size taxpayers 6%
For ordinary taxpayers 17% for sale or import of itemised goods, processing, repairing
13% for sale or import of itemised goods
17% for transportation charge
Stamp tax
fixed rate 5 yuan per book
For contracts
loan 0·05‰
construction, sales, technology 0·3‰
processing, construction design, freight, property assignment 0·5‰
accounting books with records in capitals 0·5‰
property lease, storage, property insurance 1‰
transfer of shares 1‰
Allowances
Funds for domestic enterprises:
Trade union fund 12% of total basic wages
Employee welfare fund 14% of total basic wages
Employee training fund 1·5% of total basic wages
Donations
Enterprises up to 3% of the taxable income
Individuals up to 30% of the taxable income
100% if donation made to certain funds approved
by the government
Deductible entertainment expenses
for domestic enterprises
annual net sales rate
15,000,001 – 115,000,000 yuan 5‰
15,000,001 – 150,000,000 yuan 3‰
50,000,001 – 100,000,000 yuan 2‰
100,000,001 yuan and above 1‰
For joint ventures and foreign enterprises
Manufacturing and trading businesses Service providers
Annual net sales rate Annual net sales rate
1 – 15,000,000 yuan 5‰ 1 – 5,000,000 yuan 10‰
15,000,001 yuan and above 3‰ 5,000,000 yuan and above 5‰
All figures for the final result should be rounded up to the nearest whole number.

ACCA F6（United Kingdom）历年试题大全（2004年-2014年）

包含（2004年-2014年）ACCA F6（United Kingdom）历年考试真题及答案，文件列表如下：
Dec-2004.PDF、Dec-2005.PDF、Dec-2006.PDF、Dec-2007.PDF、Dec-2008.PDF；
June-2004.PDF、June-2005.PDF、June-2006.PDF、June-2007.PDF、June-2008.PDF；

SUPPLEMENTARY INSTRUCTIONS
1. Calculations and workings need only be made to the nearest ￡.
2. All apportionments should be made to the nearest month.
3. All workings should be shown.
TAX RATES AND ALLOWANCES
The following tax rates and allowances are to be used in answering the questions
Income tax
%
Starting rate ￡1 – ￡2,230 10
Basic rate ￡2,231 – ￡34,600 22
Higher rate ￡34,601 and above 40
Personal allowance
Personal allowance Standard ￡5,225
Personal allowance 65 – 74 ￡7,550
Personal allowance 75 and over ￡7,690
Income limit for age related allowances ￡20,900
Car benefit percentage
The base level of CO2 emissions is 140 grams per kilometre.
Car fuel benefit
The base figure for calculating the car fuel benefit is ￡14,400.
Pension scheme limits
Annual allowance ￡225,000
The maximum contribution that can qualify for tax relief without any earnings is ￡3,600.
Authorised mileage allowances: cars
Up to 10,000 miles 40p
Over 10,000 miles 25p
Capital allowances
%
Plant and machinery
Writing down allowance 25
First year allowance – Plant and machinery 40
– Low emission motor cars (CO2 emissions of less than
120 grams per kilometre) 100
For small businesses only: the rate of plant and machinery first year allowance is increased to 50% for the period
from 1 April 2006 to 31 March 2008 (6 April 2006 to 5 April 2008 for unincorporated businesses).
Long life assets
Writing-down allowance 6
Industrial buildings
Writing-down allowance 4
Corporation tax
Financial year 2005 2006 2007
Small companies rate 19% 19% 20%
Full rate 30% 30% 30%
Lower limit 1,300,000 1,300,000 1,300,000
Upper limit 1,500,000 1,500,000 1,500,000
Marginal relief fraction 11/400 11/400 1/40

ACCA F7（International）历年试题大全（2002年-2014年）

包含（2002年-2014年）ACCA F7（International）历年考试真题及答案，文件列表如下：
Dec-2002.PDF、Dec-2003.PDF、Dec-2004.PDF、Dec-2005.PDF、Dec-2006.PDF、Dec-2007.PDF、Dec-2008.PDF；
June-2003.PDF、June-2004.PDF、June-2005.PDF、June-2006.PDF、June-2007.PDF、June-2008.PDF；

Fundamentals Level – Skills Module
Financial Reporting
(International)

Time allowed
Reading and planning: 15 minutes
Writing: 3 hours
ALL FIVE questions are compulsory and MUST be attempted.
Do NOT open this paper until instructed by the supervisor.
During reading and planning time only the question paper may
be annotated. You must NOT write in your answer booklet until
instructed by the supervisor.
This question paper must not be removed from the examination hall.

ALL FIVE questions are compulsory and MUST be attempted
1 On 1 August 2007 Patronic purchased 18 million of a total of 24 million equity shares in Sardonic. The acquisition
was through a share exchange of two shares in Patronic for every three shares in Sardonic. Both companies have
shares with a par value of $1 each. The market price of Patronic’s shares at 1 August 2007 was $5·75 per share.
Patronic will also pay in cash on 31 July 2009 (two years after acquisition) $2·42 per acquired share of Sardonic.
Patronic’s cost of capital is 10% per annum. The reserves of Sardonic on 1 April 2007 were $69 million.
Patronic has held an investment of 30% of the equity shares in Acerbic for many years.
The summarised income statements for the three companies for the year ended 31 March 2008 are:
Patronic Sardonic Acerbic
$’000 $’000 $’000
Revenue 150,000 78,000 80,000
Cost of sales (94,000) (51,000) (60,000)
–––––––– ––––––– –––––––
Gross profit 56,000 27,000 20,000
Distribution costs (7,400) (3,000) (3,500)
Administrative expenses (12,500) (6,000) (6,500)
Finance costs (note (ii)) (2,000) (900) nil
–––––––– ––––––– –––––––
Profit before tax 34,100 17,100 10,000
Income tax expense (10,400) (3,600) (4,000)
–––––––– ––––––– –––––––
Profit for the period 23,700 13,500 6,000
–––––––– ––––––– –––––––
The following information is relevant:
(i) The fair values of the net assets of Sardonic at the date of acquisition were equal to their carrying amounts with
the exception of property and plant. Property and plant had fair values of $4·1 million and $2·4 million
respectively in excess of their carrying amounts. The increase in the fair value of the property would create
additional depreciation of $200,000 in the consolidated financial statements in the post acquisition period to
31 March 2008 and the plant had a remaining life of four years (straight-line depreciation) at the date of
acquisition of Sardonic. All depreciation is treated as part of cost of sales.
The fair values have not been reflected in Sardonic’s financial statements.
No fair value adjustments were required on the acquisition of Acerbic.
(ii) The finance costs of Patronic do not include the finance cost on the deferred consideration.
(iii) Prior to its acquisition, Sardonic had been a good customer of Patronic. In the year to 31 March 2008, Patronic
sold goods at a selling price of $1·25 million per month to Sardonic both before and after its acquisition. Patronic
made a profit of 20% on the cost of these sales. At 31 March 2008 Sardonic still held inventory of $3 million
(at cost to Sardonic) of goods purchased in the post acquisition period from Patronic.
(iv) An impairment test on the goodwill of Sardonic conducted on 31 March 2008 concluded that it should be written
down by $2 million. The value of the investment in Acerbic was not impaired.
(v) All items in the above income statements are deemed to accrue evenly over the year.
(vi) Ignore deferred tax.

ACCA F7（United Kingdom）历年试题大全（2002年-2014年）

包含（2002年-2014年）ACCA F7（United Kingdom）历年考试真题及答案，文件列表如下：
Dec-2002.PDF、Dec-2003.PDF、Dec-2004.PDF、Dec-2005.PDF、Dec-2006.PDF、Dec-2007.PDF、Dec-2008.PDF；
June-2003.PDF、June-2004.PDF、June-2005.PDF、June-2006.PDF、June-2007.PDF、June-2008.PDF；

Financial Reporting
(United Kingdom)

ALL FIVE questions are compulsory and MUST be attempted
1 On 1 August 2007 Patronic purchased 18 million of a total of 24 million equity shares in Sardonic. The acquisition
was through a share exchange of two shares in Patronic for every three shares in Sardonic. Both companies have
shares with a par value of ￡1 each. The market price of Patronic’s shares at 1 August 2007 was ￡5·75 per share.
Patronic will also pay in cash on 31 July 2009 (two years after acquisition) ￡2·42 per acquired share of Sardonic.
Patronic’s cost of capital is 10% per annum. The reserves of Sardonic on 1 April 2007 were ￡69 million.
Patronic has held an investment of 30% of the equity shares in Acerbic for many years.
The summarised profit and loss accounts for the three companies for the year ended 31 March 2008 are:
Patronic Sardonic Acerbic
￡’000 ￡’000 ￡’000
Turnover 150,000 78,000 80,000
Cost of sales (94,000) (51,000) (60,000)
–––––––– ––––––– –––––––
Gross profit 56,000 27,000 20,000
Distribution costs (7,400) (3,000) (3,500)
Administrative expenses (12,500) (6,000) (6,500)
–––––––– ––––––– –––––––
Operating profit 36,100 18,000 10,000
Finance costs (note (ii)) (2,000) (900) nil
–––––––– ––––––– –––––––
Profit before tax 34,100 17,100 10,000
Tax (10,400) (3,600) (4,000)
–––––––– ––––––– –––––––
Profit for the year 23,700 13,500 6,000
–––––––– ––––––– –––––––
The following information is relevant:
(i) The fair values of the net assets of Sardonic at the date of acquisition were equal to their carrying amounts with
the exception of property and plant. Property and plant had fair values of ￡4·1 million and ￡2·4 million
respectively in excess of their carrying amounts. The increase in the fair value of the property would create
additional depreciation of ￡200,000 in the consolidated financial statements in the post acquisition period to
31 March 2008 and the plant had a remaining life of four years (straight-line depreciation) at the date of
acquisition of Sardonic. All depreciation is treated as part of cost of sales.
The fair values have not been reflected in Sardonic’s financial statements.
No fair value adjustments were required on the acquisition of Acerbic.
(ii) The finance costs of Patronic do not include the finance cost on the deferred consideration.
(iii) Prior to its acquisition, Sardonic had been a good customer of Patronic. In the year to 31 March 2008, Patronic
sold goods at a selling price of ￡1·25 million per month to Sardonic both before and after its acquisition. Patronic
made a profit of 20% on the cost of these sales. At 31 March 2008 Sardonic still held stock of ￡3 million (at
cost to Sardonic) of goods purchased in the post acquisition period from Patronic.
(iv) The goodwill of Sardonic should be amortised over a nine-year life with time apportionment in the year of
acquisition. The goodwill in Acerbic was deemed to have an indefinite life and was not impaired at 31 March
2008.
(v) All items in the above profit and loss accounts are deemed to accrue evenly over the year.
(vi) Ignore deferred tax.

ACCA F8（International）历年试题大全（2002年-2014年）

包含（2002年-2014年）ACCA F8（International）历年考试真题及答案，文件列表如下：
Dec-2002.PDF、Dec-2003.PDF、Dec-2004.PDF、Dec-2005.PDF、Dec-2006.PDF、Dec-2007.PDF、Dec-2008.PDF；
June-2003.PDF、June-2004.PDF、June-2005.PDF、June-2006.PDF、June-2007.PDF、June-2008.PDF；

Fundamentals Level – Skills Module

Audit and Assurance
(International)

ALL FIVE questions are compulsory and MUST be attempted
1 Introduction – audit firm
You are an audit senior in Brennon & Co, a firm providing audit and assurance services. At the request of an audit
partner, you are preparing the audit programme for the income and receivables systems of Seeley Co.
Audit documentation is available from the previous year’s audit, including internal control questionnaires and audit
programmes for the despatch and sales system. The audit approach last year did not involve the use of computerassisted
audit techniques (CAATs); the same approach will be taken this year. As far as you are aware, Seeley’s system
of internal control has not changed in the last year.
Client background – sales system
Seeley Co is a wholesaler of electrical goods such as kettles, televisions, MP3 players, etc. The company maintains
one large warehouse in a major city. The customers of Seeley are always owners of small retail shops, where electrical
goods are sold to members of the public. Seeley only sells to authorised customers; following appropriate credit
checks, each customer is given a Seeley identification card to confirm their status. The card must be used to obtain
goods from the warehouse.
Despatch and sales system
The despatch and sales system operates as follows:
1. Customers visit Seeley’s warehouse and load the goods they require into their vans after showing their Seeley
identification card to the despatch staff.
2. A pre-numbered goods despatch note (GDN) is produced and signed by the customer and a member of Seeley’s
despatch staff confirming goods taken.
3. One copy of the GDN is sent to the accounts department, the second copy is retained in the despatch
department.
4. Accounts staff enter goods despatch information onto the computerised sales system. The GDN is signed.
5. The computer system produces the sales invoice, with reference to the inventory master file for product details
and prices, maintains the sales day book and also the receivables ledger. The receivables control account is
balanced by the computer.
6. Invoices are printed out and sent to each customer in the post with paper copies maintained in the accounts
department. Invoices are compared to GDNs by accounts staff and signed.
7. Paper copies of the receivables ledger control account and list of aged receivables are also available.
8. Error reports are produced showing breaks in the GDN sequence.
Information on receivables
The chief accountant has informed you that receivables days have increased from 45 to 60 days over the last year.
The aged receivables report produced by the computer is shown below:
Number of Range of debt Total debt $ Current $ 1 to 2 More than 2
receivables months old $ months old $
15 Less than $0 (87,253) (87,253)
197 $0 to $20,000 2,167,762 548,894 643,523 975,345
153 $20,001 to 50,000 5,508,077 2,044,253 2,735,073 728,751
23 $50,001 or more 1,495,498 750,235 672,750 72,513
–––– –––––––––– –––––––––– –––––––––– ––––––––––
388 9,084,084 3,256,129 4,051,346 1,776,609
–––– –––––––––– –––– –––––––––– –––––––––––––––––––– –––––––––––––––––––– ––––––––––––––––––––
In view of the deteriorating receivables situation, a direct confirmation of receivables will be performed this year.

ACCA F8（United Kingdom）历年考试真题及答案大全（2002年-2014年）

包含（2002年-2014年）ACCA F8（United Kingdom）历年考试真题及答案，文件列表如下：
Dec-2002.PDF、Dec-2003.PDF、Dec-2004.PDF、Dec-2005.PDF、Dec-2006.PDF、Dec-2007.PDF、Dec-2008.PDF；
June-2003.PDF、June-2004.PDF、June-2005.PDF、June-2006.PDF、June-2007.PDF、June-2008.PDF；

Audit and Assurance
(United Kingdom)

PART 2
TUESDAY 12 JUNE 2007

QUESTION PAPER
Time allowed 3 hours
This paper is divided into two sections
Section A ALL THREE questions are compulsory and MUST
be answered
Section B TWO questions ONLY to be answered

Section A – ALL THREE questions are compulsory and MUST be attempted
1 Green Ltd grows crops on a large farm according to strict organic principles that prohibits the use of artificial pesticides
and fertilizers. The farm has an ‘organic certification’, which guarantees its products are to be organic. The certification
has increased its sales of flour, potatoes and other products, as customers seek to eat more healthily.
Green Ltd is run by two managers who are the only shareholders. Annual turnover is ￡50 million with a net profit of
5%. Both managers have run other businesses in the last 10 years. One business was closed due to suspected tax
fraud (although no case was ever brought to court).
Green Ltd’s current auditors provide audit services. Additional assurance on business controls and the preparation of
financial statements are provided by a different accountancy firm.
Last year, a neighbouring farm, Black Ltd started growing genetically modified (GM) crops, the pollen from which
blows over Green Ltd’s fields on a regular basis. This is a threat to Green Ltd’s organic status because organic crops
must not be contaminated with GM material. Green Ltd is considering court action against Black Ltd for loss of income
and to stop Black Ltd growing GM crops.
You are an audit partner in Lime & Co, a 15 partner firm of auditors and business advisors. You have been friends
with the managers of Green Ltd for the last 15 years, advising them on an informal basis. The managers of Green Ltd
have indicated that the audit will be put out to tender next month and have asked your audit firm to tender for the
audit and the provision of other professional services.
Required:
(a) Using the information provided, identify and explain the ethical threats that could affect Lime & Co.
(8 marks)
(b) In respect of the going concern concept:
(i) Define ‘going concern’ and state two situations in which it should NOT be applied in the preparation of
financial statements; (3 marks)
(ii) Explain the directors’ responsibilities and the auditors’ responsibilities regarding financial statements
prepared on the going concern principle. (4 marks)
(c) List the audit procedures that should be carried out to determine whether or not the going concern basis is
appropriate for Green Ltd. (5 marks)