单选题Accounting is More Than Numbers Accounting could date back to about 7,000 years ago. People of that time relied on old accounting methods to record the growth of crops and herds. Accounting has greatly developed with the growth of joints tock companies

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单选题

Accounting is More Than Numbers Accounting could date back to about 7,000 years ago. People of that time relied on old accounting methods to record the growth of crops and herds. Accounting has greatly developed with the growth of joints tock companies . When you think of accounting， you may find pages of tables and numbers. That image doesn’t usually give you too much excitement. When you have your ownbusiness， though， those numbers come to mean the world to you because they give you the record of how much money you’ve earned or lost. Actually， accounting is not simply about strange dollar amounts or boring numbers； they’re your sales figures， your costs， and your profits. In other words， accounting is alanguage of business. Once you know how to work with those numbers， how to read those numbers and how to read the story they tell， you will be able to manage your business toward greater success. Accounting has greatly changed with the development of（）.

crops and herds

joint stock companies

internet companies

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第1题：

5 Financial statements have seen an increasing move towards the use of fair values in accounting. Advocates of ‘fair

value accounting’ believe that fair value is the most relevant measure for financial reporting whilst others believe that

historical cost provides a more useful measure.

Issues have been raised over the reliability and measurement of fair values, and over the nature of the current level

of disclosure in financial statements in this area.

Required:

(a) Discuss the problems associated with the reliability and measurement of fair values and the nature of any

additional disclosures which may be required if fair value accounting is to be used exclusively in corporate

reporting. (13 marks)

正确答案：
(a) Reliability and Measurement
Fair value can be defined as the price that would be received to sell an asset or paid to transfer a liability. The fair value can
be thought of as an ‘exit price’. A fair value measurement assumes that the transaction to sell the asset or transfer the liability
occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market
for the asset or liability which is the market in which the reporting entity would sell the asset or transfer the liability with the
price that maximises the amount that would be received or minimises the amount that would be paid. IAS39 ‘Financial
Instruments: Recognition and Measurement’ requires an entity to use the most advantageous active market in measuring the
fair value of a financial asset or liability when multiple markets exist whereas IAS41 ‘Agriculture’ requires an entity to use the
most relevant market. Thus there can be different approaches for estimating exit prices. Additionally valuation techniques and
current replacement cost could be used.
A hierarchy of fair value measurements would have to be developed in order to convey information about the nature of the
information used in creating the fair values. For example quoted prices (unadjusted) in active markets would provide better
quality information than quoted prices for similar assets and liabilities in active markets which would provide better quality
information than prices which reflect the reporting entity’s own thinking about the assumptions that market participants would
use in pricing the asset or liability. Enron made extensive use of what it called ‘mark-to-market’ accounting which was based
on valuation techniques and estimates. IFRSs currently do not have a single hierarchy that applies to all fair value measures.
Instead individual standards indicate preferences for certain inputs and measures of fair value over others, but this guidance
is not consistent among all IFRSs.
Some companies, in order to effectively manage their businesses, have already developed models for determining fair values.
Businesses manage their operations by managing risks. A risk management process often requires measurement of fair values
of contracts, financial instruments, and risk positions.
If markets were liquid and transparent for all assets and liabilities, fair value accounting clearly would give reliable information
which is useful in the decision making process. However, because many assets and liabilities do not have an active market,
the inputs and methods for estimating their fair value are more subjective and, therefore, the valuations are less reliable. Fair
value estimates can vary greatly, depending on the valuation inputs and methodology used. Where management uses
significant judgment in selecting market inputs when market prices are not available, reliability will continue to be an issue.
Management can use significant judgment in the valuation process. Management bias, whether intentional or unintentional,
may result in inappropriate fair value measurements and consequently misstatements of earnings and equity capital. Without
reliable fair value estimates, the potential for misstatements in financial statements prepared using fair value measurements
will be even greater.
Consideration must be given to revenue recognition issues in a fair value system. It must be ensured that unearned revenue
is not recognised early as it recently was by certain high-tech companies.
As the variety and complexity of financial instruments increases, so does the need for independent verification of fair value
estimates. However, verification of valuations that are not based on observable market prices is very challenging. Users of
financial statements will need to place greater emphasis on understanding how assets and liabilities are measured and how
reliable these valuations are when making decisions based on them.
Disclosure
Fair values reflect point estimates and do not result in transparent financial statements. Additional disclosures are necessary
to bring meaning to these fair value estimates. These disclosures might include key drivers affecting valuations, fair-valuerange
estimates, and confidence levels. Another important disclosure consideration relates to changes in fair value amounts.
For example, changes in fair values on securities can arise from movements in interest rates, foreign-currency rates, and credit
quality, as well as purchases and sales from the portfolio. For users to understand fair value estimates, they must be given
adequate disclosures about what factors caused the changes in fair value. It could be argued that the costs involved in
determining fair values may exceed the benefits derived therefrom. When considering how fair value information should be
presented in the financial statements, it is important to consider what type of financial information investors want. There are
indications that some investors desire both fair value information and historical cost information. One of the issues affecting
the credibility of fair value disclosures currently is that a number of companies include ‘health warnings’ with their disclosures
indicating that the information is not used by management. This language may contribute to users believing that the fair value
disclosures lack credibility.

第2题：

There are more and more ______ of software for accounting, this has made the different types of software more accessible in terms of costs and variety.

A manufacturers ;

B manufacturing ;

C manufactures

参考答案:C

第3题：

You are the administrator of a Windows 2000 network. You need to store secured files for your company's accounting and legal departments on a Windows 2000 Professional computer.

You want to accomplish the following goals:

1. Enable users in both departments to access their own files from the network

2. Enable users in the accounting department to view the legal accounting department's documents

3. Prevent users in the legal department from being able to view the accounting department's documents

4. Enable managers within the company to access and modify both the accounting and the legal department's files

You take the following actions:

1. Create two shared folders named Accounting and Legal

2. Create three groups named Accounting, Legal, and Management

3. Allow the Accounting group modify permission on the Accounting folder

4. Allow the Legal group modify permission on the Legal folders.

5. Allow the Management group modify permission on both the Accounting and Legal folders.

Which result or results do these actions produce? (Choose all that apply)

A．Users in both departments can access to their own files from the network.

B．Users in the accounting department can view the legal department's documents.

C．Users in the legal department cannot view the accounting department's documents.

D．Company managers can access and modify both departments' files.

正确答案：ACD
解析：Explanation:
A: The Accounting group has Modify permission to the Accounting folder, and the Legal department has Modify permission to the Legal folders, so both departments can access their own files.

C: The Legal group has not been granted any permissions on the Accounting folder so they cannot access the Accounting department's documents.

D: The Management group has Modify permissions to both the Accounting and the Legal folders so they will be able to modify both departments' files.

Incorrect Answers
B: The Accounting group has been not been granted any permissions on the Legal folders. They cannot view these folders.

第4题：

PURPOSE OF ACCOUNTING Every company has an accounting office or a finance department that looks ()its accounting details. An accounting department is the backbone(脊梁)of every business. It records all the business transactions(交易), and keeps a track(记录) of the incomes(收入) and expenses(支出)of the business. The accounting department also helps to determine the correct financial position and standing of the business. For a systematic(系统的)and ()recording of transactions, accounting is important. The purpose of accounting is recording all the transactions honestly and accurately in the “Books of Accounts(账本)”. The accounting process can be defined ()“the process that begins when the transaction takes place and ends ()the transaction is recorded in the books of accounts”. It includes a series of steps that ()to analyze(分析)and record the business transactions for a particular period.

1.A. forB. afterC. up

2.A. accurateB. simpleC. correct

3.A. toB. atC. as

4.A. whenB. whichC. what

5.A. useB. is usedC. uses

参考答案：子问题 1:B; 子问题 2:A; 子问题 3:B; 子问题 4:C; 子问题 5:A

第5题：

If you don’t, you could end ____ spending hundreds of dollars more than you should have.

参考答案：up

第6题：

4 Whilst acknowledging the importance of high quality corporate reporting, the recommendations to improve it are

sometimes questioned on the basis that the marketplace for capital can determine the nature and quality of corporate

reporting. It could be argued that additional accounting and disclosure standards would only distort a market

mechanism that already works well and would add costs to the reporting mechanism, with no apparent benefit. It

could be said that accounting standards create costly, inefficient, and unnecessary regulation. It could be argued that

increased disclosure reduces risks and offers a degree of protection to users. However, increased disclosure has several

costs to the preparer of financial statements.

Required:

(a) Explain why accounting standards are needed to help the market mechanism work effectively for the benefit

of preparers and users of corporate reports. (9 marks)

正确答案：
(a) It could be argued that the marketplace already offers powerful incentives for high-quality reporting as it rewards such by
easing or restricting access to capital or raising or lowering the cost of borrowing capital depending on the quality of the entity’s
reports. However, accounting standards play an important role in helping the market mechanism work effectively. Accounting
standards are needed because they:
– Promote a common understanding of the nature of corporate performance and this facilitates any negotiations between
users and companies about the content of financial statements. For example, many loan agreements specify that a
company provide the lender with financial statements prepared in accordance with generally accepted accounting
principles or International Financial Reporting Standards. Both the company and the lender understand the terms and
are comfortable that statements prepared according to those standards will meet certain information needs. Without
standards, the statements would be less useful to the lender, and the company and the lender would have to agree to
create some form. of acceptable standards which would be inefficient and less effective.
– Assist neutral and unbiased reporting. Companies may wish to portray their past performance and future prospects in
the most favourable light. Users are aware of this potential bias and are sceptical about the information they receive.
Standards build credibility and confidence in the capital marketplace to the benefit of both users and companies.
– Improve the comparability of information across companies and national boundaries. Without standards, there would be
little basis to compare one company with others across national boundaries which is a key feature of relevant
information.
– Create credibility in financial statements. Auditors verify that information is reported in accordance with standards and
this creates public confidence in financial statements
– Facilitate consistency of information by producing data in accordance with an agreed conceptual framework. A consistent
approach to the development and presentation of information assists users in accessing information in an efficient
manner and facilitates decision-making.

第7题：

听力原文：M: Accounting controls refer to plans, procedures and records required for safeguarding assets and producing reliable financial accounts.

W: Yes. Accounting controls are important elements of a bank's internal control system, the soundness of which is vital for bank's survival.

Q: What are the important elements of a bank's internal control system?

(15)

A．Accounting basis.

B．Cash basis accounting.

C．Accounting control.

D．The chart of accounts of a bank.

正确答案：C
解析：对话谈论的是内部会计控制的问题，根据女士的话"accounting controls are important elements of a bank's internal control system", 可知答案为C选项。

第8题：

The recovery strategy by Ahold’s management includes _____

［A］ avoiding the next accounting scandal

［B］ diverting investment to other fields

［C］ issuing rights to more retailers

［D］ selling the retailers with poor performance

正确答案：D

本题考查事实细节。第三段提到，关于薪酬问题的争议威胁到管理层的注意力将从复兴策略上转移。该策略通过企业出售（divestments）和可能的授权来减少债务。那些被认为不能在三至五年内获得食品零售第一、二位的零售企业（units）将立即被拍卖。因此，［D］项正确。［A］和［B］项文中未提，［C］项虽然出现了原词issue rights，但出现了没有的信息more retailers，也应排除。

第9题：

ACCOUNTING IS MORE THAN NUMBERS Accounting could date back to about 7,000 years ago. People of that time relied on old accounting methods to record the growth of crops and herds. Accounting has greatly developed with the growth of joint-stock companies. When you think of accounting, you may find pages of tables and numbers. That image doesn’t usually give you too much excitement. When you have your own business, though, those numbers come to mean the world to you because they give you the record of how much money you’ve earned or lost. Actually, accounting is not simply about strange dollar amounts or boring numbers; they’re your sales figures, your costs, and your profits. In other words, accounting is a language of business. Once you know how to work with those numbers, how to read those numbers and how to read the story they tell, you will be able to manage your business toward greater success.

1. Accounting could date back to about ()years ago.

A. 7,000

B. 6,000

C. 5,000

2. People in the old days relied on old accounting methods to record ().

A. how much money they had

B. management of their business

C. the growth of crops and herds

3. Accounting has greatly changed with the development of ().

A. crops and herds

B. joint-stock companies

C. internet companies

4. Accounting is very important in your business because it shows ().

A. how much money you’ve earned or lost

B. pages full of tables and numbers

C. strange dollar amounts or boring numbers

5. According to the writer, accounting is ().

A. a language of business

B. your sales figures, your costs, and your profits

C. Both A and B

参考答案：子问题 1:A; 子问题 2:C; 子问题 3:B; 子问题 4:A; 子问题 5:C

第10题：

Accounting is More Than Numbers

Accounting could date back to about 7,000 years ago. People of that time relied on old accounting methods to record the growth of crops and herds. Accounting has greatly developed with the growth of joint-stock companies.

When you think of accounting, you may find pages of tables and numbers. That image doesn't usually give you too much excitement. When you have your own business, though, those numbers come to mean the world to you because they give you the record of how much money you've earned or lost.

Actually, accounting is not simply about strange dollar amounts or boring numbers; they're your sales figures, your costs, and your profits. In other words, accounting is a language of business. Once you know how to work with those numbers, how to read those numbers and how to read the story they tell, you will be able to manage your business toward greater success.

21. Accounting could date back to about()years ago.

A. 7,000

B. 6,000

C. 5,000

22. People in the old days relied on old accounting methods to record().

A. how much money they had

B. management of their business

C. the growth of crops and herds

23. Accounting has greatly changed with the development of().

A. crops and herds

B. joint-stock companies

C. internet companies

24. Accounting is very important in your business because it shows().

A. how much money you've earned or lost

B. pages full of tables and numbers

C. strange dollar amounts or boring numbers

25. According to the writer, accounting is().

A. a language of business

B. your sales figures, your costs, and your profits

C. Both A and B

参考答案：21-25：ACBAC

Accounting is More Than Numbers Accounting could date back t

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