更多
首页 - 网校 - 万题库 - 美好明天 - 直播 - 导航 -
您现在的位置: 考试吧 > ACCA-CAT考试 > 历年真题 > 专业会计师P1 > 正文

2010年12月份ACCA(国际注册会计师)考试真题(P1)

来源:考试吧(Exam8.com) 2010-12-21 19:28:00 要考试,上考试吧! 模拟考场
ACCA2010年12月份考试已结束。考试吧整理ACCA2010年12月份考试真题(P1)供考生参考。

  Section A - This ONE question is compulsory and MUST be attempted

  1 In the 2009 results presentation to analysts,the chief executive of ZPT,a global internet communications company,announced an excellent set of results to the waiting audience.Chief executive Clive Xu announced that, compared to 2008,sales had increased by 50%,profi ts by 100% and total assets by 80%.The dividend was to be doubled from the previous year.He also announced that based on their outstanding performance,the executive directors would be paid large bonuses in line with their contracts.His own bonus as chief executive would be $20 million.When one of the analysts asked if the bonus was excessive,Mr Xu reminded the audience that the share price had risen 45% over the course of the year because of his efforts in skilfully guiding the company.He said that he expected the share price to rise further on the results announcement,which it duly did. Because the results exceeded market expectation,the share price rose another 25% to $52.

  Three months later,Clive Xu called a press conference to announce a restatement of the 2009 results.This was necessary,he said,because of some 'regrettable accounting errors'.This followed a meeting between ZPT and the legal authorities who were investigating a possible fraud at ZPT.He disclosed that in fact the fi gures for 2009 were increases of 10% for sales,20% for profi ts and 15% for total assets which were all signifi cantly below market expectations.The proposed dividend would now only be a modest 10% more than last year.He said that he expected a market reaction to the restatement but hoped that it would only be a short-term effect.

  The first questioner from the audience asked why the auditors had not spotted and corrected the fundamental accounting errors and the second questioner asked whether such a disparity between initial and restated results was due to fraud rather than 'accounting errors'.When a journalist asked Clive Xu if he intended to pay back the $20 million bonus that had been based on the previous results,Mr Xu said he did not.The share price fell dramatically upon the restatement announcement and,because ZPT was such a large company,it made headlines in the business pages in many countries.

  Later that month,the company announced that following an internal investigation,there would be further restatements,all dramatically downwards,for the years 2006 and 2007.This caused another mass selling of ZPT shares resulting in a fi nal share value the following day of $1.This represented a loss of shareholder value of $12 billion from the peak share price.Clive Xu resigned and the government regulator for business ordered an investigation into what had happened at ZPT.The shares were suspended by the stock exchange.A month later, having failed to gain protection from its creditors in the courts,ZPT was declared bankrupt. Nothing was paid out to shareholders whilst suppliers received a fraction of the amounts due to them. Some non-current assets were acquired by competitors but all of ZPT‘s 54,000 employees lost their jobs,mostly with little or no termination payment.Because the ZPT employees’ pension fund was not protected from creditors,the value of that was also severely reduced to pay debts which meant that employees with many years of service would have a greatly reduced pension to rely on in old age.ced to pay debts which meant that employees with many years of service would have a greatly reduced pension to rely on in old age.ced to pay debts which meant that employees with many years of service would have a greatly reduced pension to rely on in old age.ced to pay debts which meant that employees with many years of service would have a greatly reduced pension to rely on in old age.

  The government investigation found that ZPT had been maintaining false accounting records for several years. This was done by developing an overly-complicated company structure that contained a network of international branches and a business model that was diffi cult to understand.Whereas ZPT had begun as a simple telecommunications company,Clive Xu had increased the complexity of the company so that he could 'hide' losses and mis-report profi ts. In the company‘s reporting,he also substantially overestimated the value of future customer supply contracts.The investigation also found a number of signifi cant internal control defi ciencies including no effective management oversight of the external reporting process and a disregard of the relevant accounting standards.

1 2 3 4 5 下一页
  相关推荐:

  2010年ACCA考试必看:ACCA独特优势和特点

  2010年12月分ACCA考试成绩查询时间及方式通知

  2011年度全国ACCA考试时间:预计6月初举行

0
收藏该文章
0
收藏该文章
文章责编:张晓1  
看了本文的网友还看了
文章搜索
关注官方微信
·考试资讯 ·学习资料
·考点预测 ·优惠活动
公众账号:考试吧
扫描二维码关注
距离{$DateYrar}年考试还有
报名时间 点击查看报名时间
准考证打印 在考试之前打印即可
考试时间 7月6-17\9月7-11\12月7-11日
成绩查询 考后1至3个月内公布
学位申请 通过9门课程后
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
还没有试卷
版权声明:如果ACCA-CAT考试网所转载内容不慎侵犯了您的权益,请与我们联系800@exam8.com,我们将会及时处理。如转载本ACCA-CAT考试网内容,请注明出处。
Copyright © 2004- 考试吧ACCA-CAT考试网 出版物经营许可证新出发京批字第直170033号 
京ICP证060677 京ICP备05005269号 中国科学院研究生院权威支持(北京)