伯明翰大学会计模拟试卷ACADEMIC YEAR 2008 / 2009
12-03, 2013
INSTRUCTIONS TO CANDIDATES:
The marks allocated are shown by each question.
All answers to be in ink and not pencil
Additional materials required: CALCULATOR
Answer THREE questions
Question 1 (100 marks)
Below are the financial accounts of Alexandria plc, a company with interests in the Tourism and Hospitality Sectors, for the years 2007 and 2008. The company has been in operation since January 2000.以下是亚历山大PLC，一个公司，在旅游及酒店行业的利益，为2007年和2008年的财务账目。自2000年1月该公司一直在运作。
Balance Sheet as at 31st March
2007 2008 £’000 £’000 £’000 £’000
ASSETS
Non-current Assets (net) 528,500 612,727
Current Assets:
Inventories 18,000 32,000
Trade Receivables 20,000 25,000
Cash & Cash Equivalents 27,000 3,000
65,000 60,000
Total Assets 593,500 672,727
EQUITY & LIABILITIES
Capital & Reserves
Called up capital of
£1.00 per share 265,000 273,727
#p#分页标题#e#
Accumulated Profits/ (Losses) 190,000 212,000
455,000 485,727
Minority Interest 7,500 7,500
Non-current Liabilities
10% Debentures 2020 100,000 139,500
Current Liabilities
Trade Payables 11,000 20,000
Proposed Dividend 20,000 20,000
31,000 40,000
Total equity & liabilities 593,500 672,727
Summarised Income Statement for the year ended 31st March
2007 2008
[£’000] [£’000]
Revenue 250,000 300,000
Profit from operations 40,000 52,000
Finance costs 10,000 15,000
Profit before tax 30,000 37,000
Income Tax expense 6,000 5,000
Profit after tax 24,000 32,000
Minority Interest 2,000 2,000
Net profit for the period 22,000 #p#分页标题#e#30,000
Additional Information:
Credit sales (Revenue) £200,000 £235,000
Credit purchases (Trade Payables) £75,000 £85,500
Cost of sales £150,000 £180,000
Required:
Carry out a ratio analysis on the above statements, showing all ratios in a tabular layout. Any supporting calculations, that you wish to show, need to be referenced to the table and shown separately. (45 marks)
Critically assess the ratios, calculated in part (a), and make recommendations to management for future action. (55 marks)
Question 2 (100 marks)
Doha is a small organisation operating within the service sector. The data below has been produced for use in the budgetary control system.
+
It is estimated that 70% of sales is received on a cash basis and the remaining 30% will be received after one month.
20% of purchases are made in cash and the other 80% are on on two months’ credit.
Wages are paid monthly in cash.
Overheads are paid on one month’s credit.
On 1st January 2009 new fixed assets will be purchased costing £15,000. The company will pay £1,000 in March 2009 and the balance in May 2009.
The bank balance on 1st January 2009 is expected to be £1,000.
Stocks of materials are expected to be as follows on the dates stated:
1st March 2009 £500
31st May 2009 £200
需要考虑下列事项：
I）据估计，70％的销售收到现金的基础上，剩余的30％将在一个月后收到。
2）20％的采购是由现金及其他80％是上两个月的信贷。
三）工资是每月以现金支付。
4）管理费用支付上一个月的信用。#p#分页标题#e#
V）于二零零五年一月2009年新增固定资产将购买成本15000英镑。该公司将支付1000英镑2009年3月和2009年5月的平衡。
vi）该银行2009年1月1日余额预计是千英镑。
七）材料库存预计将如下所述日期：
2009年3月1日500英镑
2009年5月31日200英
Required:
Prepare a cash budget for the three months to 31st May 2009. (36 marks)
Prepare a budgeted profit and loss account for the three months ending 31st May 2009. (24 marks)
“While profit, turnover and even market share are all indicators of success, if there is no cash in the bank to meet monthly bills, wages and loan payments then any business will ultimately fail.” (CIMA 2006)
Discuss this statement, with particular reference to the budgeted statements prepared in parts (a) and (b) above. (40 marks)
要求：
a）编制现金预算为二零零九年五月三十一日止三个月。 （36分）
b）编制预算的损益账二零零九年五月三十一日止三个月。 （24分）
三）“虽然利润，营业额和市场份额都成功的指标，如果有在银行没有现金应付每月的账单，工资和偿还贷款，那么任何企业将最终失败。”（CIMA，2006年）
讨论此声明，并特别提及的部分（a）和（b）项的预算编制。 （40分）Question 3 (100 marks)
The ‘Olympus Experience’ company operates tours to the ancient cities of Greece. The tours are fully inclusive and cover a period of fourteen nights. Each tour can accommodate a maximum of 200 people and incurs the following costs (all costs exclude VAT unless otherwise stated):
+
Required:
Calculate the cost per person, distinguishing clearly between fixed and variable costs. (25 marks)
Assuming the ‘Olympus Experience’ company requires a net profit of 15%, calculate the selling price per person in order to achieve this profit. (20 marks)
Using the price calculated in part (b), calculate the profit or loss if there were confirmed bookings from only 85 people in total.#p#分页标题#e# (20 marks)
The company has been approached by a local school who is interested in the tour due to take place in two weeks time, for a group of 10 of their students studying history. They can only afford to pay £1,200 (including VAT) per person however. The ‘Olympus Experience’ company already has 120 people booked on this tour and expects numbers to increase to 180 by the time the tour departs.
Evaluate this offer from a financial point of view and discuss any non-financial matters that should be considered when deciding whether this offer should be accepted.
(35 marks)
a）计算每人费用，明确区分固定和可变成本。 （25分）b）假定“奥林巴斯体验”公司要求的净利润的15％，每人计算的售价，以达到这个利润。 （20分）c）利用第（二）计算的价格，计算利润或亏损，总共只有85人，如果有被确认的预订。 （20分）d）本公司已接近当地一所学校，谁是有兴趣在游览，由于发生在两个星期的时间，10个为一组学生学习历史。他们只能买得起但是支付每人1200元（含增值税）。奥林巴斯体验“公司已经有120人预订这次巡演，预计数字增加至180旅行团出发时间。 评估从财务角度来看，这个提议讨论决定时，应考虑是否应该接受这个提议的任何非金融事宜。
Question 4 (100 marks)
Business organisations of all sizes are funded in many different ways. Critically discuss and evaluate the factors which influence the choice of funding for businesses within the service sectors.
各种规模的企业组织在许多不同的方式资助。批判性讨论和评价的影响因素选择服务行业内企业的资金。
Formulae Required for Ratio Analysis Question
1. ROCE Profit from Operations x100
Capital Employed
2. Asset Turnover Revenue
Capital Employed
3. Net Profit Margin Profit from Operations x100
#p#分页标题#e# Revenue
4. Current Ratio Current Asset
Current liabilities
5. Acid Test Ratio Current Assets- Inventories
Current liabilities
6. Inventory turnover Inventories x 365
Cost of sales
7. Trade Receivable days Trade Receivables x 365
Credit sales
8. Trade payable days Trade Payables x 365
Credit purchases
9. Gearing Debt capital x 100
Total Equity
10. Interest cover Profit before interest and tax
Interest
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