分类： 特许公认会计师（ACCA）国际认证资格考试

2008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.

2008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

2008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

2009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

2009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)

2009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.

2008年（ACCA）F4考试真题及答案

包含2008年ACCA F4考试真题及答案，文件列表如下：
f4chn_2008_dec_a.pdf、f4chn_2008_dec_q.pdf、f4eng_2008_dec_q.pdf、f4eng_2008_dec_a.pdf、f4Eng_2008_jun_a.pdf、f4eng_2008_jun_q.pdf；

Corporate and
Business Law
(China)
Tuesday 2 December 2008

ALL TEN questions are compulsory and MUST be attempted
1 In relation to the jurisdiction rules under the Civil Procedures Law of China:
(a) Explain the term jurisdiction by forum level, and general rules under jurisdiction by forum level. (3 marks)
(b) Explain the jurisdictional rule concerning forum level in major cases involving foreign elements. (1 mark)
(c) Explain the different categories of court jurisdiction, other than the jurisdiction by forum level, over civil and
commercial disputes. (6 marks)
(10 marks)
2 In relation to the Property Law of China:
(a) State the legal effects of immovable registration on contracts involving the disposal of immovables.
(4 marks)
(b) State the various legal remedies for an interest holder or stakeholder where the information on the immovable
registry is incorrect. (6 marks)
(10 marks)
3 In relation to the Securities Law of China:
(a) Explain takeover of a listed company by offer. (3 marks)
(b) State the report requirements for a purchaser who intends to take over a listed company by offer.
(3 marks)
(c) State the various restrictions on the purchaser when he commences procedures for taking over a listed
company by offer. (4 marks)
(10 marks)
4 In relation to the Company Law and the Criminal Law of China:
(a) State the fraudulent behaviour that may be deemed as a crime in the course of incorporating a company, and
the various elements to be proven for such a crime, in terms of the subjects of a crime and the activities.
(5 marks)
(b) State the fraudulent behaviour that may be deemed as a crime in the operation of a company in relation to
corporate financing, and the various elements to be proven for such a crime. (5 marks)
(10 marks)
5 In relation to the Contract Law of China:
(a) Explain the term expected profit in terms of damages. (3 marks)
(b) State the conditions to be met for a party to claim damages in a breach of contract. (4 marks)
(c) State the statutory obligations upon the party who claims damages in a breach of contract. (3 marks)
(10 marks)

6 In relation to the Enterprise Bankruptcy Law of China:
(a) Explain the term bankruptcy administrator and how one can be appointed. (4 marks)
(b) State the qualifications of a bankruptcy administrator. (3 marks)
(c) State the persons who are NOT permitted to be appointed as a bankruptcy administrator. (3 marks)
(10 marks)
7 In relation to the Labour Contract Law of China:
(a) Explain the term and the purpose of a non-competition clause in a labour contract. (4 marks)
(b) State the precondition for a non-competition clause in a labour contract to be effective. (3 marks)
(c) State the restriction on the duration of time for a non-competition clause in a labour contract. (3 marks)
(10 marks)
8 Guanghua Company (Guanghua) and Dongda Company (Dongda) entered into a cooperation agreement to build a
building jointly. They agreed that Guanghua would provide all the funds for the construction and hold half of the
building, while Dongda would provide the land-use right for construction and also hold half of the building after
construction; the ownership of the building would be held jointly by the two parties, but would be registered under
the name of Dongda. They also stated in the agreement that any disposal of the building must only be decided with

2009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

2009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)

2009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.