2015年ACCA考试模拟强化练习题(3)[1]

　　(a) Prepare a consolidated statement of financial position as at 31 May 2009 for the Bravado Group. (35 marks)

　　(b) Calculate and explain the impact on the calculation of goodwill if the non-controlling interest was calculated on a proportionate basis for Message and Mixted. (8 marks)

　　(c) Discuss the view of the directors that there is no problem with showing a loan to a director as cash and cash equivalents， taking into account their ethical and other responsibilities as directors of the company. (5 marks)

　　Professional marks will be awarded in part (c) for clarity and expression of your discussion. (2 marks)

　　2 The directors of Aron，a public limited company，are worried about the challenging market conditions which the company is facing. The markets are volatile and illiquid. The central government is injecting liquidity into the economy. The directors are concerned about the significant shift towards the use of fair values in financial statements. IAS 39‘Financial Instruments：recognition and measurement’defines fair value and requires the initial measurement of financial instruments to be at fair value. The directors are uncertain of the relevance of fair value measurements in these current market conditions.

　　Required：

　　(a)Briefly discuss how the fair value of financial instruments is determined，commenting on the relevance of fair value measurements for financial instruments where markets are volatile and illiquid. (4 marks)

　　(b)Further they would like advice on accounting for the following transactions within the financial statements for the year ended 31 May 2009：

　　(i) Aron issued one million convertible bonds on 1 June 2006. The bonds had a term of three years and were issued with a total fair value of $100 million which is also the par value. Interest is paid annually in arrears at a rate of 6% per annum and bonds，without the conversion option，attracted an interest rate of 9% per annum特许公认会计师(ACCA/CAT)