分类： 特许公认会计师（ACCA）国际认证资格考试

2009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

2009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)

2009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;

2009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

2009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

2009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)