2010核心课程答案11878

财经网络教育领导品牌 _ 高顿网校 All Rights Reserved 版权所有 复制必究 1 2010 年 5 月 CIMA-E2 真题答案 1.(a)Investment in AB DF holds 90%of the ordinary share capital and therefore,in accordance with IAS 27 Consolidated and Separate Financial Statements,is presumed to be able to exercise control over ABs operating and financial policies.AB is a subsidiary of DF and should be fully consolidated in the group financial statements.Investment in GH The 40%investment in GH is presumed,in accordance with IAS 28 Investment in Associates,to give DF the ability to exercise significant influence over GH and will be accounted for using equity accounting.On acquisition,the investment is recognised at cost and in subsequent periods at cost of$2 million plus group share of any post-acquisition gains and losses.Investment in JK In accordance with IFRS 5 Non-current assets held for sale and discontinued operations,DF need not consolidate JK if it intends to resell the investment within 12 months of acquisition.Since it is being actively marketed it can be assumed that the requirements of IFRS 5 have been met.JK will not be consolidated,instead the cost of the investment will be included separately on the consolidated statement of financial position under“Assets held for resale”.Investment in LM IFRS 3 Business combinations requires goodwill on acquisition to be calculated at the date control is gained.The second acquisition gives DF a 55%holding and therefore control over LM.The simple investment will be derecognised and the 55%holding will be fully consolidated as a subsidiary in the group financial statements.The goodwill will be calculated as the cost of the 40%acquired in October 2009 plus the fair value of the previously held interest of 15%,compared with the fair value of the net assets at the date of acquisition,1 October 2009.(b)The 90%acquired for$6 million had a fair value of$6.12m($6.8m x 90%)and so DF acquired a 财经网络教育领导品牌 _ 高顿网校 All Rights Reserved 版权所有 复制必究 2 bargain purchase.The$120,000 should be written off to profit or loss in the year of acquisition and to retained earnings in subsequent years.The fair value uplift will result in an additional$25,000($6.8m-$5.8m)/40 years)in depreciation chargeable to consolidated profit or loss.The cumulative depreciation should be deducted from consolidated retained earnings.The consolidated non-current assets will be increased by the net amount(the uplift less accumulated depreciation).2.(a)The economic substance of the transaction is determined by analysing the risks and benefits of the transaction.JK had access to the following benefits of ownership:Protected from price increases as prices are agreed at the point of delivery;JK incurred the following costs and was subject to the following risks:Incurred the cost of insurance while vehicles were on display in its forecourt;Retained risk that price reductions were not passed on since price was agreed at point of delivery;SB retained legal title to vehicles so in the event of any dispute SB would probably be entitled to recover its legal property.Initially therefore it appears that JK may hold the risks and rewards of the inventory.However,the significant risk,obsolescence must be considered.JK can return the vehicles at any time without penalty and this would indicate that the risk of obsolescence is in fact with SB.As this is seen as the most significant risk,SB should continue to recognise the goods within its inventories.(b)SARs are an example of a cash-settled share-based transaction and,in accordance with IFRS2 Share-based Payments,are initially measured at their fair value at grant date and subsequently remeasured to fair value at each year end.The liability is remeasured and any difference is charged to the income statement as an expense.In the year to 2008 Eligible employees(120 12 15)=93 Equivalent cost of SARs=93 employees x 1,000 rights x FV$15=$1,395,000 Allocate over 3 year vesting period$1,395,000/3=$465,000 equivalent charge to the income statement 财经网络教育领导品牌 _ 高顿网校 All Rights Reserved 版权所有 复制必究 3 in the first year.In the year to 2009 Eligible employees(120 12 8 10)=90 Equivalent cost of SARs=90 employees x 1,000 rights x FV$17=$1,530,000 Cumulative amount to be recognised as a liability=$1,530,000 x 2/3 years=$1,020,000 Less amount previously recognised=$1,020,000-$465,000=$555,000 The expense will be recorded as:Dr Income statement$555,000 Cr SOFP-liability$555,000 3.Basic earnings per share (b)Fully diluted earnings per share 财经网络教育领导品牌 _ 高顿网校 All Rights Reserved 版权所有 复制必究 4 (c)A bonus issue does not raise any new finance and therefore the profit for the year will have been generated with the same level of resources throughout the year.As the issue results in no additional resources it is treated as if it had always been in existence.Comparative figures also need to be restated as if the bonus issue was made at the earliest reported period.The issue at full market price brings additional resources,which will impact on profits from the date of issue.Therefore a weighted average number of shares is used to calculate eps.4.(i).Goodwill (ii).Consolidated retained earnings 财经网络教育领导品牌 _ 高顿网校 All Rights Reserved 版权所有 复制必究 5 (iii).Non controlling interest 参与 CIMA 的考生可按照复习计划有效进行，另外高顿网校官网考试辅导高清课程已经开通，还可索取CIMA 考试通关宝典，针对性地讲解、训练、答疑、模考，对学习过程进行全程跟踪、分析、指导，可以帮助考生全面提升备考效果。更多详情可登录高顿网校官网进行咨询。更多 CIMA 考试资讯，请关注官方微信公众号：gaoduncima