题目内容
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61 In small companies, project managers and line managers are:
A. Never the same person
B. Always the same person
C. Sometimes the same person
D. Always in disagreement with each other
E. Forced to act as their own sponsors
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In small companies, project managers and line managers are:
A . Never the same person
B . Always the same person
C . Sometimes the same person
D Always in disagreement with each other
E Forced to act as their own sponsors
5 International Financial Reporting Standards (IFRSs) are primarily designed for use by publicly listed companies and
in many countries the majority of companies using IFRSs are listed companies. In other countries IFRSs are used as
national Generally Accepted Accounting Practices (GAAP) for all companies including unlisted entities. It has been
argued that the same IFRSs should be used by all entities or alternatively a different body of standards should apply
to small and medium entities (SMEs).
Required:
(a) Discuss whether there is a need to develop a set of IFRSs specifically for SMEs. (7 marks)
What are not the resulting effects on cities when those people moved out？
A. There were more crimes.
B. Cities were in a bad condition.
C. Only one mass transit system was completed.
D. Some small companies move in while larger ones moved out.
(a) Kayte operates in the shipping industry and owns vessels for transportation. In June 2014, Kayte acquired Ceemone whose assets were entirely investments in small companies. The small companies each owned and operated one or two shipping vessels. There were no employees in Ceemone or the small companies. At the acquisition date, there were only limited activities related to managing the small companies as most activities were outsourced. All the personnel in Ceemone were employed by a separate management company. The companies owning the vessels had an agreement with the management company concerning assistance with chartering, purchase and sale of vessels and any technical management. The management company used a shipbroker to assist with some of these tasks.
Kayte accounted for the investment in Ceemone as an asset acquisition. The consideration paid and related transaction costs were recognised as the acquisition price of the vessels. Kayte argued that the vessels were only passive investments and that Ceemone did not own a business consisting of processes, since all activities regarding commercial and technical management were outsourced to the management company. As a result, the acquisition was accounted for as if the vessels were acquired on a stand-alone basis.
Additionally, Kayte had borrowed heavily to purchase some vessels and was struggling to meet its debt obligations. Kayte had sold some of these vessels but in some cases, the bank did not wish Kayte to sell the vessel. In these cases, the vessel was transferred to a new entity, in which the bank retained a variable interest based upon the level of the indebtedness. Kayte’s directors felt that the entity was a subsidiary of the bank and are uncertain as to whether they have complied with the requirements of IFRS 3 Business Combinations and IFRS 10 Consolidated Financial Statements as regards the above transactions. (12 marks)
(b) Kayte’s vessels constitute a material part of its total assets. The economic life of the vessels is estimated to be 30 years, but the useful life of some of the vessels is only 10 years because Kayte’s policy is to sell these vessels when they are 10 years old. Kayte estimated the residual value of these vessels at sale to be half of acquisition cost and this value was assumed to be constant during their useful life. Kayte argued that the estimates of residual value used were conservative in view of an immature market with a high degree of uncertainty and presented documentation which indicated some vessels were being sold for a price considerably above carrying value. Broker valuations of the residual value were considerably higher than those used by Kayte. Kayte argued against broker valuations on the grounds that it would result in greater volatility in reporting.
Kayte keeps some of the vessels for the whole 30 years and these vessels are required to undergo an engine overhaul in dry dock every 10 years to restore their service potential, hence the reason why some of the vessels are sold. The residual value of the vessels kept for 30 years is based upon the steel value of the vessel at the end of its economic life. At the time of purchase, the service potential which will be required to be restored by the engine overhaul is measured based on the cost as if it had been performed at the time of the purchase of the vessel. In the current period, one of the vessels had to have its engine totally replaced after only eight years. Normally, engines last for the 30-year economic life if overhauled every 10 years. Additionally, one type of vessel was having its funnels replaced after 15 years but the funnels had not been depreciated separately. (11 marks)
Required:
Discuss the accounting treatment of the above transactions in the financial statements of Kayte.
Note: The mark allocation is shown against each of the elements above.
Professional marks will be awarded in question 3 for clarity and quality of presentation. (2 marks)
Larry found a job parking cars for one of Hollywood's big restaurants. His pay was basic, but since the guests were kind enough to give him more money, he managed to make a living.
One day he recognized an important film director driving into the parking lot and getting out of his car. Larry had recently heard that the man was ready to make a new picture.
Larry got into the car and prepared to drive it on into the lot and park it. Then he stopped, jumped out, and ran over to the director. "Excuse me, sir, but I think it's only fair to tell you that it's now or never if you want me in your next picture. A lot of big companies are after me."
Instead of pushing away the boy, the director got interested in Larry's words and stopped. "Yes？ Which companies？" he asked.
"Well," replied the boy, "there's the telephone company, the gas company, and the electric company, to tell you only a few."
The director laughed, then wrote something on a card and handed it to the young man. "Come and see me tomorrow."
Larry got a small part in the director's next film. He was on his way!
Which of the following was Larry interested in？
A．Working as a waiter.
B．Becoming a film star.
C．Parking cars for film stars.
D．Never going home.
B.develop new technology
C.expand its own business
D.increase the power of information
According to Aleem Walji, the company’s first project is to ________.A.set up a new system to warn people of infectious diseases
B.find out where infectious diseases develop
C.identify the causes of infectious diseases
D.cure patients of infectious diseases
What kind of businesses will benefit from Google.org’s second project？A.large enterprises
B.cross-national companies
C.foreign-funded corporations
D.small and medium-sized businesses
From the fourth paragraph, we learn that Google’s money is also invested to help ________.A.start more research programs
B.make more advanced electric cars
C.develop renewable and coal-based energy
D.conduct studies related to climate changes
From the last paragraph we learn that the investments by Google.org come from ________.A.Google’s profits and stock value
B.some international IT companies
C.the company’s own interests
D.local commercial banks
请帮忙给出每个问题的正确答案和分析，谢谢！
developing countries. Professor James West from North America argued that one of the key needs for developing
countries was to implement rigorous systems of corporate governance to underpin investor confidence in businesses
in those countries. If they did not, he warned, there would be no lasting economic growth as potential foreign inward
investors would be discouraged from investing.
In reply, Professor Amy Leroi, herself from a developing country, reported that many developing countries are
discussing these issues at governmental level. One issue, she said, was about whether to adopt a rules-based or a
principles-based approach. She pointed to evidence highlighting a reduced number of small and medium sized initial
public offerings in New York compared to significant growth in London. She suggested that this change could be
attributed to the costs of complying with Sarbanes-Oxley in the United States and that over-regulation would be the
last thing that a developing country would need. She concluded that a principles-based approach, such as in the
United Kingdom, was preferable for developing countries.
Professor Leroi drew attention to an important section of the Sarbanes-Oxley Act to illustrate her point. The key
requirement of that section was to externally report on – and have attested (verified) – internal controls. This was, she
argued, far too ambitious for small and medium companies that tended to dominate the economies of developing
countries.
Professor West countered by saying that whilst Sarbanes-Oxley may have had some problems, it remained the case
that it regulated corporate governance in the ‘largest and most successful economy in the world’. He said that rules
will sometimes be hard to follow but that is no reason to abandon them in favour of what he referred to as ‘softer’
approaches.
(a) There are arguments for both rules and principles-based approaches to corporate governance.
Required:
(i) Describe the essential features of a rules-based approach to corporate governance; (3 marks)
Yet as odd as the MacDonald exchange was, barter is now big business on the Net. This year more than 400000 companies worldwide will exchange some $10 billion worth of goods and services on a growing number of barter sites. These Web sites allow companies to trade products for a virtual currency, which they can use to buy goods from other members. In Iceland, garment- maker Kapusalan sells a third of its output on the booming Vidskiptanetid exchange, earning virtual money that it uses to buy machinery and pay part of employee salaries. The Troc-Services exchange in France offers more than 4600 services, from math lessons to ironing.
This is not a primitive barter system. By creating currencies, the Internet removes a major barrier—what Bob Meyer, publisher of BarterNews, calls "the double coincidence of wants." That is, two parties once not only had to find each other, but also an exchange of goods that both desired. Now, they can price the deal in virtual currency.
Barter also helps firms make use of idle capacity. For example, advertising is "hugely bartered" because many media, particularly on the Web, can supply new ad space at little cost. Moreover, Internet ads don't register in industry-growth statistics, because many exchanges are arranged outside the formal exchanges.
Like eBay, most barter sites allow members to "grade" trading partners for honesty, quality and so on. Barter exchanges can allow firms in countries with hyperinflation or nontradable currencies to enter global trades. Next year, a nonprofit exchange called Quick Lift Two (QL2) plans to open in Nairobi, offering barter deals to 38000 Kenyan farmers in remote areas. Two small planes will deliver the goods. QL2 director Gacii Waciuma says the farmers are excited to be "liberated from corrupt middlemen." For them, barter evokes a bright future, not a precapitalist past.
The word "techies" (Line 4, Para.1) probably refers to those who are ______.
A．afraid of technology
B．skilled in technology
C．ignorant of technology
D．incompetent in technology
capital of Hira Ltd from Belgrove Ltd. Belgrove Ltd currently owns 100% of the share capital of Hira Ltd and has no
other subsidiaries. All three companies have their head offices in the UK and are UK resident.
Hira Ltd had trading losses brought forward, as at 1 April 2006, of ￡18,600 and no income or gains against which
to offset losses in the year ended 31 March 2006. In the year ending 31 March 2007 the company expects to make
further tax adjusted trading losses of ￡55,000 before deduction of capital allowances, and to have no other income
or gains. The tax written down value of Hira Ltd’s plant and machinery as at 31 March 2006 was ￡96,000 and
there will be no fixed asset additions or disposals in the year ending 31 March 2007. In the year ending 31 March
2008 a small tax adjusted trading loss is anticipated. Hira Ltd will surrender the maximum possible trading losses
to Belgrove Ltd and Dovedale Ltd.
The tax adjusted trading profit of Dovedale Ltd for the year ending 31 March 2007 is expected to be ￡875,000 and
to continue at this level in the future. The profits chargeable to corporation tax of Belgrove Ltd are expected to be
￡38,000 for the year ending 31 March 2007 and to increase in the future.
On 1 February 2007 Dovedale Ltd will sell a small office building to Hira Ltd for its market value of ￡234,000.
Dovedale Ltd purchased the building in March 2005 for ￡210,000. In October 2004 Dovedale Ltd sold a factory
for ￡277,450 making a capital gain of ￡84,217. A claim was made to roll over the gain on the sale of the factory
against the acquisition cost of the office building.
On 1 April 2007 Dovedale Ltd intends to acquire the whole of the ordinary share capital of Atapo Inc, an unquoted
company resident in the country of Morovia. Atapo Inc sells components to Dovedale Ltd as well as to other
companies in Morovia and around the world.
It is estimated that Atapo Inc will make a profit before tax of ￡160,000 in the year ending 31 March 2008 and will
pay a dividend to Dovedale Ltd of ￡105,000. It can be assumed that Atapo Inc’s taxable profits are equal to its profit
before tax. The rate of corporation tax in Morovia is 9%. There is a withholding tax of 3% on dividends paid to
non-Morovian resident shareholders. There is no double tax agreement between the UK and Morovia.
Required:
(a) Advise Belgrove Ltd of any capital gains that may arise as a result of the sale of the shares in Hira Ltd. You
are not required to calculate any capital gains in this part of the question. (4 marks)
请根据以下内容回答下列各题 Insurance (保险)is the sharing of risks. Nearly everyone isexposed to risk of some sort. The house owner, for example, knows that hisproperty can be damaged by fire; the ship-owner knows that his vessel may belost at sea; the breadwinner knows that he may die at any early age and leavehis family poorer. On the other hand, not every house is damaged by fire norevery vessel lost at sea. If these persons, each put a small sum into a pool,there will be enough to meet the needs of the few who do suffer loss. In otherwords, the losses of the few are met from the contributions of the many. Thisis the basis of insurance. Those who pay the contribution are known as insuredand those who administer(管理)the pool of contributionsas insurers. The legal basis of all insurance is thepolicy. This is a printed form. of contract on stout paper of the best quality.It states that in return for the regular payment by the insured of a named sumof money, called the pre- mium(保险费), which is usually paid every year, the insurer will pay a sum ofmoney or compensation for loss, if the risk or event insured against actuallyhappens. The premium for an insurance naturally depends upon how likely therisk is to happen, as suggested by past experience, ff companies fix theirpremiums too high, there will be more to make the premium too low, they willlose money and may even have to drop out of busi- ness. So the ordinary forcesof supply and demand keep premiums at a level satisfactory to both the insurerand the insured. According to the writer, insurance is possible because__________
A.only a small proportion of the insured sufferloss
B.only insured people suffer loss
C.nearly everyone suffers loss
D.everyone at some time suffers loss
