题目内容
（请给出正确答案）
When I was in the countryside, I often walked by the riverside.()
简答题官方参考答案
（由简答题聘请的专业题库老师提供的解答）
更多“When I was in the countryside, I often walked by the riverside.（)”相关的问题
—When ______ again？—When he ______ , I'll let you know.
A．he comes, comes
B．will he come, come
C．he comes, will come
D．will he come, comes
Aqua Co has correctly calculated its basic earnings per share (EPS) for the current year.Which of the following items need to be additionally considered when calculating the diluted EPS of Aqua Co for the year？ (i)A1 for 5 rights issue of equity shares during the year at $1.20 when the market price of the equity shares was $2.00 (ii)The issue during the year of a convertible (to equity shares) loan note (iii)The granting during the year of directors' share options exercisable in three years' time (iv)Equity shares issued during the year as the purchase consideration for the acquisition of a new subsidiary company
A、All four
B、(i) and (ii) only
C、(ii) and (iii) only
D、(iii) and (iv) only
听力原文：W: I heard you are going abroad, aren't you？
M: I wanted to go on Monday, but I couldn't get a ticket for Monday. I bought a ticket for Tuesday.
When will the man leave？
A．On Monday.
B．On Tuesday.
C．On Thursday.
Section B – TWO questions ONLY to be attempted
(a) You are a manager in Lark & Co, responsible for the audit of Heron Co, an owner-managed business which operates a chain of bars and restaurants. This is your firm’s first year auditing the client and the audit for the year ended 31 March 2012 is underway. The audit senior sends a note for your attention:
‘When I was auditing revenue I noticed something strange. Heron Co’s revenue, which is almost entirely cash-based, is recognised at $5·5 million in the draft financial statements. However, the accounting system shows that till receipts for cash paid by customers amount to only $3·5 million. This seemed odd, so I questioned Ava Gull, the financial controller about this. She said that Jack Heron, the company’s owner, deals with cash receipts and posts through journals dealing with cash and revenue. Ava asked Jack the reason for these journals but he refused to give an explanation.
‘While auditing cash, I noticed a payment of $2 million made by electronic transfer from the company’s bank account to an overseas financial institution. The bank statement showed that the transfer was authorised by Jack Heron, but no other documentation regarding the transfer was available.
‘Alarmed by the size of this transaction, and the lack of evidence to support it, I questioned Jack Heron, asking him about the source of cash receipts and the reason for electronic transfer. He would not give any answers and became quite aggressive.’
Required:
(i) Discuss the implications of the circumstances described in the audit senior’s note; and (6 marks)
(ii) Explain the nature of any reporting that should take place by the audit senior. (3 marks)
(b) You are also responsible for the audit of Coot Co, and you are currently reviewing the working papers of the audit for the year ended 28 February 2012. In the working papers dealing with payroll, the audit junior has commented as follows:
‘Several new employees have been added to the company’s payroll during the year, with combined payments of $125,000 being made to them. There does not appear to be any authorisation for these additions. When I questioned the payroll supervisor who made the amendments, she said that no authorisation was needed because the new employees are only working for the company on a temporary basis. However, when discussing staffing levels with management, it was stated that no new employees have been taken on this year. Other than the tests of controls planned, no other audit work has been performed.’
Required:
In relation to the audit of Coot Co’s payroll:
Explain the meaning of the term ‘professional skepticism’, and recommend any further actions that should be taken by the auditor. (6 marks)
(b) A sale of industrial equipment to Deakin Co in May 2005 resulted in a loss on disposal of $0·3 million that has
been separately disclosed on the face of the income statement. The equipment cost $1·2 million when it was
purchased in April 1996 and was being depreciated on a straight-line basis over 20 years. (6 marks)
Required:
For each of the above issues:
(i) comment on the matters that you should consider; and
(ii) state the audit evidence that you should expect to find,
in undertaking your review of the audit working papers and financial statements of Keffler Co for the year ended
31 March 2006.
NOTE: The mark allocation is shown against each of the three issues.
听力原文：W: I hear you' re going home. Is that right？
M: I wanted to go on Monday, but I couldn't get a ticket for Monday. I bought a ticket for Tuesday.
W. Why are you in such a hurry？
M: My mother is ill. She has been sent to the hospital.
W: How did you get the news？ Did your mother send you a letter？
M. My sister telephoned me this morning. She asked my father and me to go back.
W: Then how long are you going to stay at home, two or three days？
M. At most four days. I'll be back for the meeting.
When will the man leave？
A．Monday.
B．Tuesday.
C．Sunday.
D．Wednesday.
听力原文：W: David, can I give you a hand with one of those grocery bags？
M: Sure, Nancy. Could you take this one, please？ I didn't realize how heavy these bags would be.
W: Why did you buy so much stuff when you had to walk back home from the store？
M: Well, I didn't intend to buy a lot. But I'm having some people over and I guess I needed more than I expected.
W: What's the occasion？
M: The people I live with, the Smiths, have been on vacation for a month, and I thought I'd surprise them. I'm inviting some of their friends and family for a welcome-home dinner.
W: Oh, that's really thoughtful of you.
M: I figure it's the least I can do for them. They've been letting me stay with them rent-free when I'm at school.
W: Really？ That's pretty generous of them.
M: Well, they understand how difficult it is to make ends meet when you're a student. They've been such a big help to me. I thought that this might be a small way to thank them for the generosity.
(20)
A．Get a ride home with Nancy.
B．Go to the store before it closes.
C．Find a place to live.
D．Carry his groceries home.
听力原文：W: David! Can I give you a hand with one of those grocery bags？
M: Sure, Nancy! Could you take this one, please？ I didn't realize how heavy these bags would be.
W: Why did you buy so much stuff when you have to walk home from the store？
M: Well, I didn't intend to buy a lot, but I'm having some people over and I guess I needed more than I expected.
W: What's the occasion？
M: The people I live with, the Kramers, have been on vacation for a month and I thought I'd surprise them. I'm inviting some of their friends and family for a welcome-home dinner.
W: That's really thoughtful of you.
M: I figure it's the least I can do for them. They've been letting me stay with them rent-free while I'm in school.
W: Really？ That's pretty generous of them.
M: Well, they understand how difficult it is to make ends meet when you're a student. They've been such a big help to me, I thought that this might be a small way to thank them for their generosity.
(20)
A．Get a ride home with Nancy.
B．Find a place to live.
C．Go to the store before it closes.
D．Carry his groceries home.
Certified Accountants. You are currently reviewing the audit working papers for Pulp Co, a long standing audit client,
for the year ended 31 January 2008. The draft statement of financial position (balance sheet) of Pulp Co shows total
assets of $12 million (2007 – $11·5 million).The audit senior has made the following comment in a summary of
issues for your review:
‘Pulp Co’s statement of financial position (balance sheet) shows a receivable classified as a current asset with a value
of $25,000. The only audit evidence we have requested and obtained is a management representation stating the
following:
(1) that the amount is owed to Pulp Co from Jarvis Co,
(2) that Jarvis Co is controlled by Pulp Co’s chairman, Peter Sheffield, and
(3) that the balance is likely to be received six months after Pulp Co’s year end.
The receivable was also outstanding at the last year end when an identical management representation was provided,
and our working papers noted that because the balance was immaterial no further work was considered necessary.
No disclosure has been made in the financial statements regarding the balance. Jarvis Co is not audited by our firm
and we have verified that Pulp Co does not own any shares in Jarvis Co.’
Required:
(b) In relation to the receivable recognised on the statement of financial position (balance sheet) of Pulp Co as
at 31 January 2008:
(i) Comment on the matters you should consider. (5 marks)
Each bag of cement sells for $9 and costs $4 to make. If cement is unsold at the end of the year, it has to be disposed of at a cost of $0·50 per bag.
Cement Co has decided to produce at one of the three levels of production to match forecast demand. It now has to decide which level of cement production to select.
Required:
(a) Construct a pay off table to show all the possible profit outcomes. (8 marks)
(b) Decide the level of cement production the company should choose, based on the following decision rules:
(i) Maximin (1 mark)
(ii) Maximax (1 mark)
(iii) Expected value (4 marks)
You must justify your decision under each rule, showing all necessary calculations.
(c) Describe the ‘maximin’ and ‘expected value’ decision rules, explaining when they might be used and the attitudes of the decision makers who might use them. (6 marks)
Financial analysts have forecast that the dividends of Close Co will grow in the future at a rate of 4% per year. This is slightly less than the forecast growth rate of the profit after tax (earnings) of the company, which is 5% per year. The finance director of Close Co thinks that, considering the risk associated with expected earnings growth, an earnings yield of 11% per year can be used for valuation purposes.
Close Co has a cost of equity of 10% per year and a before-tax cost of debt of 7% per year. The 8% bonds will be redeemed at nominal value in six years’ time. Close Co pays tax at an annual rate of 30% per year and the ex-dividend share price of the company is $8·50 per share.
Required:
(a) Calculate the value of Close Co using the following methods:
(i) net asset value method;
(ii) dividend growth model;
(iii) earnings yield method. (5 marks)
(b) Discuss the weaknesses of the dividend growth model as a way of valuing a company and its shares. (5 marks)
(c) Calculate the weighted average after-tax cost of capital of Close Co using market values where appropriate. (8 marks)
(d) Discuss the circumstances under which the weighted average cost of capital (WACC) can be used as a discount rate in investment appraisal. Briefly indicate alternative approaches that could be adopted when using the WACC is not appropriate. (7 marks)
警告：系统检测到您的账号存在安全风险
为了保护您的账号安全，请在“简答题”公众号进行验证，点击“官网服务”-“账号验证”后输入验证码“”完成验证，验证成功后方可继续查看答案！
