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4 Diverse Holdings Plc has five wholly-owned subsidiary companies. These are:(i) Organic F

4 Diverse Holdings Plc has five wholly-owned subsidiary companies. These are:

(i) Organic Foods Ltd (OFL) which is involved in the production and sale of organically grown fruit and vegetables.

OFL has built up a very good reputation as a supplier of quality produce.

(ii) Haul-Trans Ltd (HTL) which was acquired on 1 December 2005 and is involved in transporting a range of

products on behalf of third parties.

(iii) Kitchen Appliances Ltd (KAL) which is involved in the manufacture and sale of small, manually-operated kitchen

appliances. KAL has recently suffered from squeezed margins as a consequence of competition from low cost

imports.

(iv) Paper Supplies Ltd (PSL) which manufactures and sells a narrow range of stationery products to two distributors.

(v) Office Products Ltd (OPL) which manufactures and sells computer workstations with unique design features

which are highly regarded by health and safety experts.

The management accountant of Diverse Holdings Plc has gathered the following actual and forecast information

relating to the five subsidiaries:

4 Diverse Holdings Plc has five wholly-owned subsi

Required:

(a) Identify and comment on FOUR advantages that may be gained as a result of the adoption of a formal system

of strategic planning. (4 marks)

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更多“4 Diverse Holdings Plc has five wholly-owned subsidiary companies. These are:(i) Organic F”相关的问题

第1题

4 GMB Co designs, produces and sells a number of products. Functions are recognised from d

esign through to the

distribution of products. Within each function, a number of activities may be distinguished and a principal driver

identified for each activity.

Each sales order will normally comprise a number of batches of any one of a range of products. The company is active

in promoting, where possible, a product focus for design, dedicated production lines and product marketing. It also

recognises that a considerable level of expenditure will relate to supporting the overall business operation.

It is known that many costs may initially be recognised at the unit, batch, product sustaining (order) or

business/facility sustaining (overall) levels. A list of expense items relating to Order Number 377 of product Zeta is

shown below. The methods of calculating the values for Order Number 377 shown below are given in brackets

alongside each expense item. These methods also indicate whether the expense items should be regarded as product

unit, batch, product sustaining (order) or business/facility sustaining (overall) level costs. The expense items are not

listed in any particular sequence. Each expense item should be adjusted to reflect its total cost for

Order Number 377.

Order Number 377 comprises 5,000 units of product Zeta. The order will be provided in batches of 1,000 product

units.

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第2题

4 The Dental Health Partnership was established in 1992 and provides dentistry and other r

elated services to the

population of Blaintopia, a country in which the public health service is partially funded by the Government.

Additional information relating to the Dental Health Partnership for the year ended 31 May 2005 is as follows:

(1) The partnership was open for five days per week during 48 weeks of the year.

(2) Each dentist treated 20 patients per day. The maximum number of patients that could have been treated by a

dentist on any working day was 24 patients.

(3) (i) The partnership received a payment from the government each time any patient was consulted as shown in

the following table:

Required:

(a) Prepare a summary Profit and Loss Account of the Dental Health Partnership for the year ended

31 May 2005 and calculate the percentage of maximum capacity that was required to be utilised in order

to break even in the year ended 31 May 2005. (12 marks)

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第3题

2 The Superior Software House (SSH) commenced trading on 1 December 2002 in the country of

Bonlandia. SSH

develops bespoke software packages on behalf of clients. When requested to do so, SSH also provides training to

clients’ staff in the use of these software packages. On 1 December 2006, the directors of SSH established a similar

semi-autonomous operation in Karendia. All software packages are produced in Bonlandia and transferred to Karendia

at cost plus attributable overheads i.e. there is no mark-up on the software packages transferred from Bonlandia to

Karendia.

Karendia is a country in which the structure of industry has changed during recent years. There has been a major

shift from traditional manufacturing businesses to service orientated businesses which place a far greater emphasis

upon the use of business software.

The operational managers in both Bonlandia and Karendia have no control over company policies in respect of

acquisitions and financing.

The operational manager of Bonlandia receives a bonus of 40% of his basic salary for meeting all client delivery

deadlines in respect of Karendia. At a recent meeting he instructed his staff to ‘install client software by the due date

and we’ll worry about fixing any software problems after it’s been installed. After all, we always fix software problems

eventually’. He also stated that ‘it is of vital importance that we grow our revenues in Karendia as quickly as possible.

Our clients in Karendia might complain but they have spent a lot of money on our software products and will not be

able to go to any of our competitors once we have installed our software as all their businesses would suffer huge

disruption’.

Financial data (all stated on an actual basis) in respect of the two divisions for the two years ended 30 November

2007 and 2008 are shown on the next page:

Required:

(a) Assess the financial performance of SSH and its operations in Bonlandia and Karendia during the years

ended 30 November 2007 and 2008.

Note: you should highlight additional information that would be required in order to provide a more

comprehensive assessment of the financial performance of each operation. (14 marks)

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第4题

1 NB Candidates are advised to read all of the information including that contained in tab

les 1, 2 and 3 before

attempting this question.

Quicklink Ltd operates in the distribution and haulage industry and has achieved significant growth since its formation

in 1997. Its main activities comprise the door-to-door delivery of mail, parcels and industrial machinery.

The information contained in notes (i–vii) below relates to Quicklink Ltd in respect of the year ended 31 May

2005 and changes planned in the year ending 31 May 2006.

(i) Contracted clients were charged at the following rates during the year ended 31 May 2005: Mail £6 per delivery,

Parcels £10 per delivery and Machinery £200 per delivery.

(ii) Rates for non-contract clients during each of the years ended 31 May 2005 and year ending 31 May 2006,

were/are based upon the contracted client rates per delivery plus an additional percentage fee per delivery

charged to non-contract clients as follows:

Activity Additional Fee

Mail 40%

Parcel 20%

Machinery 50%

(iii) On 1 June 2003, Quicklink Ltd entered into a fixed price contract for the provision of fuel for its delivery vehicles

for the three-year period ending 31 May 2006. For the year ending 31 May 2006 fuel costs will be as follows:

(a) £0·10 per kilometre in respect of the delivery of mail and parcels

(b) £0·50 per kilometre in respect of the delivery of industrial machinery.

Each vehicle owned by Quicklink Ltd is in use for 340 days per annum.

(iv) Employee salaries were paid throughout the year ended 31 May 2005 at a rate of £26,400 per employee, per

annum.

(v) Sundry operating costs (excluding fuel and salaries) of Quicklink Ltd amounted to £3,000,000 during the year

ended 31 May 2005.

(vi) The board of directors expect that for the year ending 31 May 2006 the following will apply:

(a) contract rates of Quicklink Ltd business will increase by 5%

(b) sales volumes are expected to remain at the same level as in the year ended 31 May 2005

(c) salaries and other operating expenses will increase by 4%.

(vii) The board of directors agreed to purchase Celer Transport, an unincorporated business, which was founded in

December 2001. The purchase took effect on 1 June 2005. Celer Transport has main activities comprising the

delivery of mail, parcels and processed food. The managing director of Quicklink Ltd has expressed his view that

‘the acquisition of the Celer Transport business would constitute a good strategic move even though it is expected

to make a loss of £50,000 during the year ending 31 May 2006’.

The information contained in notes (viii–xii) below relates to the business of Celer Transport in respect of the year

ending 31 May 2006:

(viii) A distinctive competence of the Celer Transport business relates to its success in winning contracts with major

food producers. Each contract is for a fixed term of three years and all contracts were renewed on 1 June 2005.

Contract values per annum are as follows:

Number of contracts Value per contract (£)

4 225,000

6 150,000

9 100,000

(ix) (1) The sales volume of mail and parcel deliveries to Celer Transport clients is expected to increase by 10% per

annum with effect from 1 June 2005. It is intended to use the client billing rates of Quicklink Ltd that were

in application during the year ended 31 May 2005 as the basis of charging for mail and parcel deliveries to

Celer Transport clients during the year ending 31 May 2006. This is due to the fact that Quicklink Ltd had

higher client billing rates than Celer Transport and the board of directors recognised that it would have been

difficult to adopt company-wide billing rates with effect from 1 June 2005.

(2) During the year ended 31 May 2005 the billing rates of Celer Transport in respect of contract and noncontract

mail and parcel deliveries were 90% of the level of the rates charged by Quicklink Ltd.

(x) Fuel requirements for the Celer Transport business activities are forecast to cost £0·12 per kilometre for mail and

parcel deliveries and £0·60 per kilometre for deliveries of processed food. The fuel required for Celer Transport

business during the year ending 31 May 2006 cannot be provided under the current agreement entered into by

Quicklink Ltd as detailed in note (iii). Each Celer Transport vehicle is in use for 340 days per annum.

(xi) All Celer Transport employees will be paid on the same basis as Quicklink Ltd employees.

(xii) Sundry operating costs (excluding fuel and salaries) of the Celer Transport business will amount to £1,990,340.

Required:

(a) Prepare, in columnar format, the budgeted profit and loss accounts for the year ending 31 May 2006 of:

(i) Quicklink Ltd;

(ii) Celer Transport; and

(iii) The combined entity. (16 marks)

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第5题

1 The Harding Law Partnership (HLP) provides legal services to commercial clients in the c

ountry of Strifeland. The

partnership commenced trading on 1 June 2001. Each of the advisors employed by HLP is a specialist in the

provision of legal services in respect of ONLY one of the following categories of work:

Property;

Commercial; or

Litigation.

Appendices 1.1 and 1.2 below show statistics (both budget and actual) for the twelve month period ended 31 May

2007 for HLP and also for a competitor, Merlin Advisory Services (MAS).

Additional information relating to HLP for the year ended 31 May 2007 is as follows:

(1) Fees charged per consultation (including subcontracted consultations)

Required:

(a) Using the information contained in Appendix 1.1, prepare budgeted and actual profit and loss statements for

HLP and also a profit and loss statement on an actual basis for MAS for the year ended 31 May 2007.

(14 marks)

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第6题

3 The Specialist Clothing Company Ltd (SCC Ltd) is a manufacturer of a wide range of cloth

ing. Its operations are

organised into five divisions which are as follows:

(i) Fashion

(ii) Industrial

(iii) Leisure

(iv) Children

(v) Footwear

The Fashion division manufactures a narrow range of high quality clothing which is sold to a leading retail store which

has branches in every major city in its country of operation. The products have very short life cycles.

The Industrial division manufactures a wide range of clothing which has been designed for use in industrial

environments. In an attempt to increase sales volumes, SCC Ltd introduced the sale of these products via mail order

with effect from 1 June 2005.

The Leisure division manufactures a narrow range of clothing designed for outdoor pursuits such as mountaineering

and sky diving, which it markets under its own, well-established ‘Elite’ brand label.

The Children division manufactures a range of school and casual wear which is sold to leading retail stores.

The Footwear division manufactures a narrow range of footwear.

The management accountant of SCC Ltd has gathered the following actual and forecast information relating to the five

divisions:

Required:

(a) Use the Boston Consulting Group matrix in order to assess the competitive position of SCC Ltd. (10 marks)

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第7题

1 The Health and Fitness Group (HFG), which is privately owned, operates three centres in

the country of Mayland.

Each centre offers dietary plans and fitness programmes to clients under the supervision of dieticians and fitness

trainers. Residential accommodation is also available at each centre. The centres are located in the towns of Ayetown,

Beetown and Ceetown.

The following information is available:

(1) Summary financial data for HFG in respect of the year ended 31 May 2008.

(2) HFG defines Residual Income (RI) for each centre as operating profit minus a required rate of return of 12% of

the total assets of each centre.

(3) At present HFG does not allocate the long-term borrowings of the group to the three separate centres.

(4) Each centre faces similar risks.

(5) Tax is payable at a rate of 30%.

(6) The market value of the equity capital of HFG is $9 million. The cost of equity of HFG is 15%.

2

(7) The market value of the long-term borrowings of HFG is equal to the book value.

(8) The directors are concerned about the return on investment (ROI) generated by the Beetown centre and they are

considering using sensitivity analysis in order to show how a target ROI of 20% might be achieved.

(9) The marketing director stated at a recent board meeting that ‘The Group’s success depends on the quality of

service provided to our clients. In my opinion, we need only to concern ourselves with the number of complaints

received from clients during each period as this is the most important performance measure for our business.

The number of complaints received from clients is a perfect performance measure. As long as the number of

complaints received from clients is not increasing from period to period, then we can be confident about our

future prospects’.

Required:

(a) The directors of HFG have asked you, as management accountant, to prepare a report providing them with

explanations as to the following:

(i) Which of the three centres is the most ‘successful’? Your report should include a commentary on return

on investment (ROI), residual income (RI), and economic value added (EVA) as measures of financial

performance. Detailed calculations regarding each of these three measures must be included as part of

your report;

Note: a maximum of seven marks is available for detailed calculations. (14 marks)

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第8题

1 The Geeland Bus Company (GBC) is a partly government-funded organisation which provides

1 The Geeland Bus Company (GBC) is a partly government-funded organisation which provides transport services to

the population of Geeland, a country which is divided into four regions i.e. Northern, Eastern, Southern and Western.

The Western region differs from the Northern, Eastern and Southern regions in that it is a rural area with a low

population.

The Terrific Transport Company (TTC) is a privately owned organisation which also provides transport services to the

population of Geeland. All TTC buses are luxuriously fitted; each passenger has their own television and all buses

have on-board catering facilities which serve a variety of drinks and snacks. The costs of these luxuries are included

in fares charged by TTC.

Both GBC and TTC operate from premises in the Northern region. GBC operates a bus service to and from the Eastern,

Southern and Western regions as well as a ‘Hopper’ service which takes passengers around all regions, other than

the Western region, within Geeland. TTC also operates a bus service to and from the Eastern and Southern regions of

Geeland as well as a Hopper service. TTC does not operate a service to and from the Western region.

The following information is available:

(1) A summary of the financial performance of GBC and TTC for the years ended 30 November 2006 and 2007 is

as follows:

(12) At a meeting of the board of directors held during 2007, the managing director of GBC stated that: ‘on no account

shall we discontinue the operation of our Western route’.

Required:

(a) Prepare a report on the operating performance and financial performance of GBC and TTC for the years

ended 30 November 2006 and 2007. As part of your report, you should include an appendix showing

detailed workings of how each of the six figures marked with an asterisk (*) in note 1 has been calculated.

(23 marks)

Note: 6 marks are available in respect of the six figures marked with an asterisk (*). 17 marks are available

for other calculations and discussion, including 4 professional marks.

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第9题

2 NCL plc, which has a divisionalised structure, undertakes civil engineering and mining a

ctivities. All applications by

divisional management teams for funds with which to undertake capital projects require the authorisation of the board

of directors of NCL plc. Once authorisation has been granted to a capital application, divisional management teams

are allowed to choose the project for investment.

Under the terms of the management incentive plan, which is currently in operation, the managers of each division

are eligible to receive annual bonus payments which are calculated by reference to the return on investment (ROI)

earned during each of the first two years by new investments. ROI is calculated using the average capital employed

during the year. NCL plc depreciates its investments on a straight-line basis.

One of the most profitable divisions during recent years has been the IOA Division, which is engaged in the mining

of precious metals. The management of the IOA Division is currently evaluating three projects relating to the extraction

of substance ‘xxx’ from different areas in its country of operation. The management of the IOA Division has been given

approval by the board of directors of NCL plc to spend £24 million on one of the three proposals it is considering (i.e.

North, East and South projects).

The following net present value (NPV) calculations have been prepared by the management accountant of the IOA

Division.

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第10题

Universities in Teeland have three stated objectives:1. To improve the overall standard of

Universities in Teeland have three stated objectives:

1. To improve the overall standard of education of citizens in Teeland.

2. To engage in high quality academic research.

3. To provide well-qualified university graduates to meet the needs of the graduate jobs market in Teeland.

Each university is funded by a fixed sum of money from the Teeland government according to the number of students studying there. In addition, universities receive extra funds from the government and also from other organisations, such as large businesses and charities. These funds are used to support academic research.

Following the onset of an economic recession, the Teeland government has stated its intention to reduce spending on publicly funded services such as the universities. One senior politician, following his recent visit to neighbouring Veeland, was controversially quoted as saying:

‘The universities in Veeland offer much better value for money for the citizens there compared to our universities here in Teeland. There are 25 students for each member of academic staff in Veeland, whereas in Teeland, the average number is 16, and yet, the standard of education of citizens is much higher in Veeland. The Veeland government sets targets for many aspects of the services delivered by all the universities in Veeland. Furthermore, league tables of the performance of individual universities are published on the internet, and university leaders are given bonuses if their university falls within the top quarter of the league table. In Veeland, the system of performance measurement of the universities is considered so important that there is a special government department of 150 staff just to measure it.’

He went on to add, ‘I want to see a similar system of league tables, targets and bonuses for university leaders being introduced here in Teeland. To appear near the top of the league tables, I think we should expect each university to increase the number of graduates entering graduate jobs by at least 5% each year. I would also like to see other steps taken to increase value for money, such as reducing the number of academic staff in each university and reducing the salary of newly recruited academic staff.’

You have been asked to advise the Teeland government on the measurement of value for money of the universities and the proposed introduction of league tables for comparing their performance. Appendix A contains details and existing performance data relating to four of the best known universities in Teeland.

Northcity University is famous for its high teaching standards and outstanding academic research in all subjects. As such, it attracts the most able students from all parts of the world to study there.

Southcity University is a large university in the capital city of Teeland and offers courses in a wide range of subjects, though most of the funding it receives for academic research is for science and technology in which it is particularly successful.

Eastcity University is a small university specialising in the teaching of arts and humanities subjects such as history and geography.

Westcity University currently offers less strict entry standards to students to attract students from more diverse backgrounds, who may not normally have the opportunity of a university education.

Appendix A

Existing university performance data

Key to performance data

1 – Entry requirements represent students’ average attainment in examinations prior to entering university. The entry requirement of the highest ranking university is scored as 100, with the score of all other universities being in proportion to that score.

2 – The number of graduates each year who go on to further study or who begin jobs normally undertaken by university graduates. In Teeland, students attend university for an average of 3·2 years.

3 – The TSOR (Teeland students overall satisfaction rating) survey is undertaken by the Teeland government to assess students’ overall satisfaction with the standard of teaching, the social and support aspects of university life and their optimism for their own future job prospects.

4 – The education department of the Teeland government has produced a provisional league table ranking the overall performance of each of the 45 universities in Teeland, with 1 being the highest ranking university. This has been compiled using a number of performance measures, weighted according to what the government believes are the most important of these measures.

Required:

(a) Advise the Teeland government how it could assess the value for money of the universities in Teeland, using the performance data in Appendix A. (12 marks)

(b) Assess the potential benefits of league tables for improving the performance of universities in Teeland and discuss the problems of implementing the proposal to introduce league tables. (13 marks)

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