(ii) Discuss TWO problems that may be faced in implementing quality control procedures in a small firm of
Chartered Certified Accountants, and recommend how these problems may be overcome. (4 marks)
第1题:
2 (a) Discuss the nature of the financial objectives that may be set in a not-for-profit organisation such as a charity
or a hospital. (8 marks)
2 (a) In the case of a not-for-profit (NFP) organisation, the limit on the services that can be provided is the amount of funds that
are available in a given period. A key financial objective for an NFP organisation such as a charity is therefore to raise as
much funds as possible. The fund-raising efforts of a charity may be directed towards the public or to grant-making bodies.
In addition, a charity may have income from investments made from surplus funds from previous periods. In any period,
however, a charity is likely to know from previous experience the amount and timing of the funds available for use. The same
is true for an NFP organisation funded by the government, such as a hospital, since such an organisation will operate under
budget constraints or cash limits. Whether funded by the government or not, NFP organisations will therefore have the
financial objective of keeping spending within budget, and budgets will play an important role in controlling spending and in
specifying the level of services or programmes it is planned to provide.
Since the amount of funding available is limited, NFP organisations will seek to generate the maximum benefit from available
funds. They will obtain resources for use by the organisation as economically as possible: they will employ these resources
efficiently, minimising waste and cutting back on any activities that do not assist in achieving the organisation’s non-financial
objectives; and they will ensure that their operations are directed as effectively as possible towards meeting their objectives.
The goals of economy, efficiency and effectiveness are collectively referred to as value for money (VFM). Economy is
concerned with minimising the input costs for a given level of output. Efficiency is concerned with maximising the outputs
obtained from a given level of input resources, i.e. with the process of transforming economic resources into desires services.
Effectiveness is concerned with the extent to which non-financial organisational goals are achieved.
Measuring the achievement of the financial objective of VFM is difficult because the non-financial goals of NFP organisations
are not quantifiable and so not directly measurable. However, current performance can be compared to historic performance
to ascertain the extent to which positive change has occurred. The availability of the healthcare provided by a hospital, for
example, can be measured by the time that patients have to wait for treatment or for an operation, and waiting times can be
compared year on year to determine the extent to which improvements have been achieved or publicised targets have been
met.
Lacking a profit motive, NFP organisations will have financial objectives that relate to the effective use of resources, such as
achieving a target return on capital employed. In an organisation funded by the government from finance raised through
taxation or public sector borrowing, this financial objective will be centrally imposed.
第2题:
(iv) how these problems might be overcome. (4 marks)
第3题:
(d) Player trading
Another proposal is for the club to sell its two valuable players, Aldo and Steel. It is thought that it will receive a
total of $16 million for both players. The players are to be offered for sale at the end of the current football season
on 1 May 2007. (5 marks)
Required:
Discuss how the above proposals would be dealt with in the financial statements of Seejoy for the year ending
31 December 2007, setting out their accounting treatment and appropriateness in helping the football club’s
cash flow problems.
(Candidates do not need knowledge of the football finance sector to answer this question.)
第4题:
(b) Discuss ways in which the traditional budgeting process may be seen as a barrier to the achievement of the
aims of EACH of the following models for the implementation of strategic change:
(i) benchmarking;
(ii) balanced scorecard; and
(iii) activity-based models. (12 marks)
第5题:
(c) Explain the term ‘target costing’ and how it may be applied by GWCC. Briefly discuss any potential
limitations in its application. (8 marks)
第6题:
(b) Explain how growth may be assessed, and critically discuss the advantages and issues that might arise as a
result of a decision by the directors of CSG to pursue the objective of growth. (8 marks)
第7题:
(b) The Superior Fitness Co (SFC), which is well established in Mayland, operates nine centres. Each of SFC’s
centres is similar in size to those of HFG. SFC also provides dietary plans and fitness programmes to its clients.
The directors of HFG have decided that they wish to benchmark the performance of HFG with that of SFC.
Required:
Discuss the problems that the directors of HFG might experience in their wish to benchmark the performance
of HFG with the performance of SFC, and recommend how such problems might be successfully addressed.
(7 marks)
第8题:
(iii) Identify and discuss an alternative strategy that may assist in improving the performance of CTC with
effect from 1 May 2009 (where only the products in (a) and (b) above are available for manufacture).
(4 marks)
第9题:
(c) (i) Identify and describe FOUR quality control procedures that are applicable to the individual audit
engagement; and (8 marks)
第10题:
(ii) Recommend further audit procedures that should be carried out. (4 marks)
第11题:
Problems may ()
Arise
Bjump
Carise
Dlift
第12题:
know how to ask for help
be free from any pressure of academic work
be able to discuss his problems in class
be able to discuss his problems with any teacher
第13题:
(c) Discuss the difficulties that may be experienced by a small company which is seeking to obtain additional
funding to finance an expansion of business operations. (8 marks)
第14题:
(b) Examine how adopting a Six Sigma approach would help address the quality problems at UPC.
(10 marks)
第15题:
(c) Discuss how the manipulation of financial statements by company accountants is inconsistent with their
responsibilities as members of the accounting profession setting out the distinguishing features of a
profession and the privileges that society gives to a profession. (Your answer should include reference to the
above scenario.) (7 marks)
Note: requirement (c) includes 2 marks for the quality of the discussion.
第16题:
(ii) Briefly discuss TWO factors which could reduce the rate of return earned by the investment as per the
results in part (a). (4 marks)
第17题:
(b) Briefly discuss how stakeholder groups (other than management and employees) may be rewarded for ‘good’
performance. (4 marks)
第18题:
(c) Discuss the practical problems that may be encountered in the implementation of an activity-based system
of product cost management. (5 marks)
第19题:
(c) Suggest ways in which each of the six problems chosen in (a) above may be overcome. (6 marks)
第20题:
(ii) Calculate Paul’s tax liability if he exercises the share options in Memphis plc and subsequently sells the
shares in Memphis plc immediately, as proposed, and show how he may reduce this tax liability.
(4 marks)
第21题:
(d) (i) Discuss why it may not be possible to provide a high level of assurance over the stated key performance
indicators; and (4 marks)
第22题:
(c) Discuss the quality control issues raised by the audit senior’s comments. (3 marks)
第23题:
Problems may ()