（a) An assistant of yours has been criticised over...

(a) An assistant of yours has been criticised over a piece of assessed work that he produced for his study course for giving the definition of a non-current asset as ‘a physical asset of substantial cost, owned by the company, which will last longer than one year’.

Required:

Provide an explanation to your assistant of the weaknesses in his definition of non-current assets when

compared to the International Accounting Standards Board’s (IASB) view of assets. (4 marks)

(b) The same assistant has encountered the following matters during the preparation of the draft financial statements of Darby for the year ending 30 September 2009. He has given an explanation of his treatment of them.

(i) Darby spent $200,000 sending its staff on training courses during the year. This has already led to an

improvement in the company’s efficiency and resulted in cost savings. The organiser of the course has stated that the benefits from the training should last for a minimum of four years. The assistant has therefore treated the cost of the training as an intangible asset and charged six months’ amortisation based on the average date during the year on which the training courses were completed. (3 marks)

(ii) During the year the company started research work with a view to the eventual development of a new

processor chip. By 30 September 2009 it had spent $1·6 million on this project. Darby has a past history

of being particularly successful in bringing similar projects to a profitable conclusion. As a consequence the

assistant has treated the expenditure to date on this project as an asset in the statement of financial position.

Darby was also commissioned by a customer to research and, if feasible, produce a computer system to

install in motor vehicles that can automatically stop the vehicle if it is about to be involved in a collision. At

30 September 2009, Darby had spent $2·4 million on this project, but at this date it was uncertain as to

whether the project would be successful. As a consequence the assistant has treated the $2·4 million as an

expense in the income statement. (4 marks)

(iii) Darby signed a contract (for an initial three years) in August 2009 with a company called Media Today to

install a satellite dish and cabling system to a newly built group of residential apartments. Media Today will

provide telephone and television services to the residents of the apartments via the satellite system and pay

Darby $50,000 per annum commencing in December 2009. Work on the installation commenced on

1 September 2009 and the expenditure to 30 September 2009 was $58,000. The installation is expected

to be completed by 31 October 2009. Previous experience with similar contracts indicates that Darby will

make a total profit of $40,000 over the three years on this initial contract. The assistant correctly recorded

the costs to 30 September 2009 of $58,000 as a non-current asset, but then wrote this amount down to

$40,000 (the expected total profit) because he believed the asset to be impaired.

The contract is not a finance lease. Ignore discounting. (4 marks)

Required:

For each of the above items (i) to (iii) comment on the assistant’s treatment of them in the financial

statements for the year ended 30 September 2009 and advise him how they should be treated under

International Financial Reporting Standards.

Note: the mark allocation is shown against each of the three items above.

Wal-Mart has been criticized by some groups for its .（ ）

[A] low service quality

[B] employees' low salary

[C] high pressure on the other companies

[D] discrimination against women

______is regarded as the father of psychoanalytic criticism and the detective story.

Part A

Directions: Read the following four texts. Answer the questions below each text by choosing A, B, C or D . Mark your answers on ANSWER SHEET 1.

Number 10 is neither a small nor a particularly hospitable dwelling. It is two 17th century houses joined together by a narrow corridor. Once inside, one rapidly realizes the house has three separate functions: the office of the head of the British government; a place to entertain the grandest of guests; and a private home for the Prime Minister and his family.

Stanley Baldwin's experience of sleeping in an airless corridor in the thirties was sufficient to persuade his successor, Neville Chamberlain (1937--1940), that a fiat had to be built at the top of the house for the Prime Minister and his family.

Second World War bombs started falling before the Churchills could settle in. The final straw was when a bomb landed while Churchills was having dinner. He had a forecasting and went into the kitchen to warn the staff to take shelter. Seconds later a bomb landed on the grass outside, killing others nearby but none in Number 10.

When Churchill returned to power in 1951, they lived in the second floor flat. Churchill remained as eccentric as ever in his working hours: he would announce in the evening whether it would be a "one or two girl night", depending on how much dictation he planned to give.

Harold Wilson's wife, Mary, felt even less at home in Number 10 in the sixties. In fact, she positively disgusted living there and having to share her husband with his office work and omnipresent aide, Marcia Williams.

James and Audrey Callaghan moved into Number 10 in April 1976. Audrey was the first wife of a Labor Prime Minister in history to enjoy living at Number 10. She was accustomed in the State Rooms and in the relative tranquility of their "flat at the top". Her husband was one of the most methodical of Prime Ministers. One aide said: "He considered being Prime Minister like being an athlete--there was a duty to be fit".

According to the text, What is referred to as Number 10?

A．A place to entertain the grandest of guests.

B．A private house for the Prime Minister and his family.

C．The office of the head of the British government.

D．All of the above.

Nigeria returned to the Commonwealth after ______.

A．she had sentenced minority rights activists to death

B．the military had resumed control of the country

C．power had been handed over to an elected president

YourcompanyhasanActiveDirectoryDomainServices（ADDS）domainthatincludesanADsecuritygroupnamedDevelopment.YouhaveamemberserverthatrunsWindowsServer2008R2withtheHyper-Vroleinstalled.YouneedtoensurethatDevelopmentgroupmemberscanonlymanagevirtualmachines（VMs）.Developmentgroupmembersmustnothaveadministrativeprivilegesonthehostserver.Whatshouldyouuse？（）

A.AuthorizationManager

B.LocalUsersandGroups

C.thenetlocalgroupcommand

D.ActiveDirectoryAdministrativeCenter

YourcompanyhasanActiveDirectoryDomainServices（ADDS）domainthatincludesanADsecuritygroupnamedMonitoring.YouareconfiguringaWindowsServer2008R2Hyper-Vserver.YouneedtoensurethatmembersoftheMonitoringgroupcanviewvirtualmachines（VMs）butcannotmakechangestothem.Whataretwopossiblewaystoachievethisgoal？（）

A.InActiveDirectory，createagroupnamedHVMonitor.GranttheReadpermissiontotheHVMonitorgroupfortheVMconfigurationfilesandtheVHDfiles.AddtheMonitoringgrouptotheHVMonitorgroup.

B.InLocalUsersandComputers，createagroupnamedHVMonitor.GranttheReadpermissiontotheHVMonitorgroupfortheVMconfigurationfilesandtheVHDfiles.AddtheMonitoringgrouptotheHVMonitorgroup.

C.InAuthorizationManager，createarolenamedHVMonitor.AddalltheViewoperationsandtheReadServiceConfigurationoperationtotherole.AssigntheroletotheMonitoringgroup.

D.InAuthorizationManager，createarolenamedHVMonitor.CreateataskthatincludesalltheViewoperationsandtheReadServiceConfigurationoperation.AddthistasktotheHVMonitorrole.AssigntheroletotheMonitoringgroup.

A、100 years

B、200 years

C、300 years

D、400 years

听力原文：You have reached the offices of Family Security Systems, the company that takes care of all your insurance needs. We are open from 9:00 to 5:00 Monday through Friday. If this is an emergency, please press 1. An agent is available to assist you immediately 24 hours a day. To speak to someone about an existing policy, press 4. To sign up for a new policy, press 5. To register a change in your mailing address using our automated system, press 6. You may also change your address and check your polcy on our company's website. Please have your policy number and PIN available when logging on to the website. Thank you for calling Family Security Systems.

What kind of place is Family Security Systems?

A．A police station.

B．A travel agency.

C．An insurance company.

D．An alarm installation company.

Which of the following is NOT the criticism made on the Segway?

A．It moves too slowly.

B．It makes people lazy.

C．It does not have a roof.

D．It may not be safe.