分类： 特许公认会计师（ACCA）国际认证资格考试

ACCA F8（International）历年试题大全（2002年-2008年）

包含（2002年-2008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-2008年）

包含（2002年-2008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)

ACCA F7（United Kingdom）历年试题大全（2002年-2008年）

包含（2002年-2008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-2008年）

包含（2002年-2008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-2008年）

包含（2002年-2008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)

ACCA F9历年考试真题及答案大全（2002年-2008年）

包含（2002年-2008年）ACCA F9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 Management
Thursday 5 June 2008

PART 2
WEDNESDAY 13 JUNE 2007

QUESTION PAPER
Time allowed 3 hours
This paper is divided into two sections
Section A This ONE question is compulsory and MUST be
answered
Section B TWO questions ONLY to be answered
Formulae Sheet, Present Value and Annuity Tables are on
pages 7, 8 and 9.
Do not open this paper until instructed by the supervisor

Section A – This ONE question is compulsory and MUST be attempted
1 The finance director of GTK plc is preparing its capital budget for the forthcoming period and is examining a number
of capital investment proposals that have been received from its subsidiaries. Details of these proposals are as follows:
Proposal 1
Division A has requested that it be allowed to invest ￡500,000 in solar panels, which would be fitted to the roof of
its production facility, in order to reduce its dependency on oil as an energy source. The solar panels would save
energy costs of ￡700 per day but only on sunny days. The Division has estimated the following probabilities of sunny
days in each year.
Number of sunny days Probability
Scenario 1 100 0·3
Scenario 2 125 0·6
Scenario 3 150 0·1
Each scenario is expected to persist indefinitely, i.e. if there are 100 sunny days in the first year, there will be 100
sunny days in every subsequent year. Maintenance costs for the solar panels are expected to be ￡2,000 per month
for labour and replacement parts, irrespective of the number of sunny days per year. The solar panels are expected to
be used indefinitely.
Proposal 2
Division B has asked for permission to buy a computer-controlled machine with a production capacity of 60,000 units
per year. The machine would cost ￡221,000 and have a useful life of four years, after which it would be sold for
￡50,000 and replaced with a more up-to-date model. Demand in the first year for the machine’s output would be
30,000 units and this demand is expected to grow by 30% per year in each subsequent year of production. Standard
cost and selling price information for these units, in current price terms, is as follows:
￡/unit Annual inflation
Selling price 12 4%
Variable production cost 4 5%
Fixed production overhead cost 6 3%
Fixed production overhead cost is based on expected first-year demand.
Proposal 3
Division C has requested approval and funding for a new product which it has been secretly developing, Product RPG.
Product development and market research costs of ￡350,000 have already been incurred and are now due for
payment. ￡300,000 is needed for new machinery, which will be a full scale version of the current pilot plant.
Advertising takes place in the first year only and would cost ￡100,000. Annual cash inflow of ￡100,000, net of all
production costs but before taking account of advertising costs, is expected to be generated for a five-year period. After
five years Product RPG would be retired and replaced with a more technologically advanced model. The machinery
used for producing Product RPG would be sold for ￡30,000 at that time.
Other information
GTK plc is a profitable, listed company with several million pounds of shareholders’ funds, a small overdraft and no
long-term debt. For profit calculation purposes, GTK plc depreciates assets on a straight-line basis over their useful
economic life. The company can claim writing down allowances on machinery on a 25% reducing balance basis and
pays tax on profit at an annual rate of 30% in the year in which the liability arises. GTK plc has a before-tax cost of
capital of 10%, an after-tax cost of capital of 8% and a target return on capital employed of 15%.

特许公认会计师ACCA-F7考前串讲11个讲座录音MP3文件下载

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

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

Corporate Reporting
(International)
Tuesday 10 June 2008

Section A – This ONE question is compulsory and MUST be attempted
1 The following draft statements of financial position relate to Ribby, Hall, and Zian, all public limited companies, as at
31 May 2008:
Ribby Hall Zian
$m $m Dinars m
Assets
Non-current assets:
Property, plant and equipment 250 120 360
Investment in Hall 98 – –
Investment in Zian 30 – –
Financial assets 10 5 148
Current assets 22 17 120
—- —- —-
Total assets 410 142 628
—- —- —-
Ordinary shares 60 40 209
Other reserves 30 10 –
Retained earnings 120 80 299
—- —- —-
Total equity 210 130 508
Non-current liabilities 90 5 48
Current liabilities 110 7 72
—- —- —-
Total equity and liabilities 410 142 628
—- —- —-
The following information needs to be taken account of in the preparation of the group financial statements of Ribby:
(i) Ribby acquired 70% of the ordinary shares of Hall on 1 June 2006 when Hall’s other reserves were $10 million
and retained earnings were $60 million. The fair value of the net assets of Hall was $120 million at the date of
acquisition. Ribby acquired 60% of the ordinary shares of Zian for 330 million dinars on 1 June 2006 when
Zian’s retained earnings were 220 million dinars. The fair value of the net assets of Zian on 1 June 2006 was
495 million dinars. The excess of the fair value over the net assets of Hall and Zian is due to an increase in the
value of non-depreciable land. There have been no issues of ordinary shares since acquisition and goodwill on
acquisition is not impaired for either Hall or Zian.
(ii) Zian is located in a foreign country and imports its raw materials at a price which is normally denominated in
dollars. The product is sold locally at selling prices denominated in dinars, and determined by local competition.
All selling and operating expenses are incurred locally and paid in dinars. Distribution of profits is determined by
the parent company, Ribby. Zian has financed part of its operations through a $4 million loan from Hall which
was raised on 1 June 2007. This is included in the financial assets of Hall and the non-current liabilities of Zian.
Zian’s management have a considerable degree of authority and autonomy in carrying out the operations of Zian
and other than the loan from Hall, are not dependent upon group companies for finance.
(iii) Ribby has a building which it purchased on 1 June 2007 for 40 million dinars and which is located overseas.
The building is carried at cost and has been depreciated on the straight-line basis over its useful life of 20 years.
At 31 May 2008, as a result of an impairment review, the recoverable amount of the building was estimated to
be 36 million dinars.
(iv) Ribby has a long-term loan of $10 million which is owed to a third party bank. At 31 May 2008, Ribby decided
that it would repay the loan early on 1 July 2008 and formally agreed this repayment with the bank prior to the
year end. The agreement sets out that there will be an early repayment penalty of $1 million.
(v) The directors of Ribby announced on 1 June 2007 that a bonus of $6 million would be paid to the employees
of Ribby if they achieved a certain target production level by 31 May 2008. The bonus is to be paid partly in
cash and partly in share options. Half of the bonus will be paid in cash on 30 November 2008 whether or not
the employees are still working for Ribby. The other half will be given in share options on the same date, provided
that the employee is still in service on 30 November 2008. The exercise price and number of options will be
fixed by management on 30 November 2008. The target production was met and management expect 10% of
employees to leave between 31 May 2008 and 30 November 2008. No entry has been made in the financial
statements of Ribby.

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

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

Advanced Corporate
Reporting
(UK Stream)

PART 3
TUESDAY 12 JUNE 2007

Section A – This ONE question is compulsory and MUST be attempted
1 The following draft balance sheets relate to Glove, Body and Fit, all public limited companies, as at 31 May 2007:
Glove Body Fit
￡m ￡m ￡m
Fixed assets:
Tangible assets 260 20 26
Investment in Body 60
Investment in Fit 30
Available for sale investments 10
—- —- —-
330 50 26
Current assets 65 29 20
Creditors: amounts falling due within one year (35) (7) (5)
—- —- —-
Net current assets 30 22 15
Creditors: amounts falling due after more than one year (45) (2) (3)
—- —- —-
Net assets 315 70 38
—- —- —-
Capital and reserves
Share capital 150 40 20
Other reserves 30 5 8
Profit and Loss reserve 135 25 10
—- —- —-
Capital employed 315 70 38
—- —- —-
The following information is relevant to the preparation of the group financial statements:
(i) Glove acquired 80% of the share capital of Body on 1 June 2005 when Body’s other reserves were ￡4 million
and the profit and loss reserve was ￡10 million. The fair value of the net assets of Body was ￡60 million at
1 June 2005. Body acquired 70% of the share capital of Fit on 1 June 2005 when the other reserves of Fit were
￡8 million and the profit and loss reserve was ￡6 million. The fair value of the net assets of Fit at that date was
￡39 million. The excess of the fair value over the net assets of Body and Fit is due to an increase in the
value of non-depreciable land of the companies. There have been no issues of share capital in the group since
1 June 2005.
(ii) Body owns several brand names which are highly regarded in the market place, and regularly sells them. Body
has invested a significant amount in marketing these brands and has expensed the costs. None of the brands
has been acquired externally and, therefore, the costs have not been capitalised in the balance sheet of Body.
On the acquisition of Body by Glove, a firm of valuation experts valued the brands at ￡5 million and this valuation
had been taken into account by Glove when offering ￡60 million for the investment in Body. The valuation of the
brands is not included in the fair value of the net assets of Body above. Group policy is to amortise intangible
assets over ten years.
(iii) On 1 June 2005, Glove introduced a new defined benefit retirement plan. At 1 June 2005, there were no
unrecognised actuarial gains and losses. The actuarial valuation of the company’s pension scheme showed a net
liability of ￡5 million at 31 May 2006. The following relates to the pension scheme for the year ended 31 May
2007:
￡m
Current service cost 26
Expected return on pension scheme assets 7
Interest on pension scheme liabilities 5
The company decided to increase its contributions to the scheme to ￡23 million. At 31 May 2007, the net
liability was measured at ￡8 million, but this valuation had not been taken into account in the financial
statements. All of the above elements had been recorded in the financial statements other than the measurement
of the closing liability of ￡8 million. The defined benefit liability is included in creditors: amounts falling due after
more than one year.

Section B – THREE questions ONLY to be attempted
2 Wader, a public limited company, is assessing the nature of its provisions for the year ended 31 May 2007. The
following information is relevant:
(a) The impairment of debtors has been calculated using a formulaic approach which is based on a specific
percentage of the portfolio of debtors. The general provision approach has been used by the company at 31 May
2007. At 31 May 2007, one of the credit customers, Tray, has come to an arrangement with Wader whereby
the amount outstanding of ￡4 million from Tray will be paid on 31 May 2008 together with a penalty of
￡100,000. The total amount of debtors outstanding at 31 May 2007 was ￡11 million including the amount
owed by Tray. The following is the analysis of the debtors:

ACCA P3历年试题大全（2002年-2008年）

包含（2002年-2008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.