2013年注會《職業(yè)能力綜合測試》強化訓練題(9)

　　9.(1)每張債券價值=100×8%×(P/A，10%，6)+100×(P/F,10%,6)=91.29(元);每10張認股權價值=100-91.29=8.71(元);每張認股權證價值=8.71÷10=0.871(元)。

　　(2)認股權證籌資的主要優(yōu)點是可以降低相應債券的利率。通過發(fā)行附有認股權證的債券，是以潛在的股權稀釋為代價換取較低的利息。

　　認股權證籌資的主要缺點是靈活性較少。附帶認股權證的債券發(fā)行者，主要目的是發(fā)行債券而不是股票，是為了發(fā)債而附帶期權。認股權證的執(zhí)行價格，一般比發(fā)行時的股價高出20%至30%。如果將來公司發(fā)展良好，股票價格會大大超過執(zhí)行價格，原有股東會蒙受較大損失。此外，附帶認股權證債券的承銷費用高于債務融資。

　　10.加權平均資本成本=15%×{287520/359400}+8%×(1-25%)×{71880/359400}=13.2%;

　　剩余經(jīng)營收益=60250-359400×13.2%=12809.2(萬元);

　　剩余凈金融支出=3500-71880×8%×(1-25%)=-812.8(萬元);

　　剩余權益收益=56750-287520×15%=13622(萬元)。

　　以剩余收益為基礎的業(yè)績評價的優(yōu)點：(1)剩余收益著眼于公司的價值創(chuàng)造過程，與增加股東財富的目標一致;(2)剩余收益指標有利于防止次優(yōu)化，可以更好地協(xié)調(diào)公司各個部門之間的利益沖突。

　　以剩余收益為基礎的業(yè)績評價的缺點：(1)剩余收益是絕對指標，不便于不同規(guī)模的公司和部門的業(yè)績比較;(2)剩余收益基礎的業(yè)績評價依賴于會計數(shù)據(jù)的質(zhì)量。

　　11. In according to the relative regime of law and articles of association， we, as the Company's independent directors, have verified the relative directors' resolutions. In view of our independence, we publish our independent opinions as follows:

　　After the examination, Chunhua Accounting Firm possess the qualification for engaging audit regarding Securities and Futures, have more experiences in this area. And have provided audit services for many years, are more familiar with the development of Company, have the ability to undertake the standards of Company's internal control, could satisfy the requirements of company's internal control, and will not impair the whole company's interests and minority shareholders' interests. Therefore, we agree to engaging of Chunhua Accounting Firm as our auditors for Company's internal control for Financial year 2012, and agree to submit in the 1st EGM for approval.

　　(根據(jù)相關法律制度以及公司章程的有關規(guī)定，我們作為公司的獨立董事，對公司董事會的相關議案進行了核查，我們基于獨立判斷的立場，發(fā)表獨立意見如下：

　　經(jīng)審查，春華會計師事務所有限責任公司具備從事證券、期貨類相關業(yè)務的審計資格，具有豐富的職業(yè)經(jīng)驗;且為本公司提供了多年的財務審計服務，對公司經(jīng)營發(fā)展情況較為熟悉，具備承擔公司內(nèi)部控制規(guī)范工作情況的審計能力，能夠滿足公司內(nèi)控審計的需要，亦不存在損害公司整體利益及中小股東權益的情況。因此，同意聘請春華會計師事務所有限責任公司為本公司 2012 年度內(nèi)部控制審計機構，并同意提交公司 2012 年第1次臨時股東大會進行審議。)

　　12.

　　(1)Yes.

　　Not until 2 years after the audit rotation could the auditors accept the pervious client, or the independence would be impaired　due to self-review.

　　(2)Yes.

　　Because of the business combinations, YI Company becomes one of the clients of Dongzheng firm. Wangming is the independent director of the client; therefore, the independence may be impaired due to self-review.

　　(3)Yes.

　　Other partners of the firm have direct financial interest in the client; therefore, professional code of ethic may be violated due to self-interest.

　　(4)Yes.

　　Members of the engagement team have close relative that work for the client in key positions that have material impact on the financial statements; therefore, independence may be impaired due to familiarity.

　　(5)No.

　　Members of the engagement team worked for the client in the position of employee’s training that have immaterial impact on the financial statements; therefore, independence will not be impaired due to familiarity.

　　(6)Yes.

　　The Dongzheng firm and Huaguang firm are network firms. When providing internal control design service, the auditor get involved in taking executive decision-making on behalf of the assurance client; therefore, professional code of ethic may be violated due to self-review.

　　(1)違反。王明擔任關鍵審計合伙人5年輪換后，再次擔任該客戶的關鍵審計合伙人需要在2年后，否則因自我評價違反職業(yè)道德守則。

　　(2)違反。因企業(yè)合并導致乙公司成為東正事務所的審計客戶，王明擔任審計客戶(乙公司)的獨立董事會，因自我評價違反職業(yè)道德守則。

　　(3)違反。王明所在分部的其他合伙人在審計客戶中擁有直接經(jīng)濟利益，因經(jīng)濟利益違反職業(yè)道德守則。

　　(4)違反。審計項目組成員的主要近親屬(其妻子)是審計客戶的高級管理人員，其崗位職責對財務報表產(chǎn)生重大影響，因密切關系違反職業(yè)道德守則。

　　(5)不違反。審計項目組成員曾在審計客戶(晨威公司)負責員工的培訓工作，其崗位職責對財務報表不產(chǎn)生重大影響，不存在密切關系違反職業(yè)道德守則。

　　(6)違反。東正事務所和華光事務所屬于網(wǎng)絡事務所，華光事務所承擔內(nèi)部控制設計服務屬于承擔審計客戶管理層職責，因自我評價違反職業(yè)道德守則。