5 The International Accounting Standards Board (IASB) is currently in a joint project with the Accounting Standards

Board (ASB) in the UK and the Financial Accounting Standards Board (FASB) in the USA in the area of reporting

financial performance/comprehensive income. The main focus of the project is the development of a single statement

of comprehensive income to replace the income statement and statement of changes in equity. The objective is to

analyse all income and expenses and categorise them in a way that increases users’ understanding of the results of

an entity and assists in forming expectations of future income and expenditure. There seems to be some consensus

that the performance statement should be divided into three components being the results of operating activities,

financing and treasury activities, and other gains and losses.

Required:

(a) Describe the reasons why the three accounting standards boards have decided to cooperate and produce a

single statement of financial performance. (8 marks)

(ii) Explain how the inclusion of rental income in Coral’s UK income tax computation could affect the

income tax due on her dividend income. (2 marks)

You are not required to prepare calculations for part (b) of this question.

Note: you should assume that the tax rates and allowances for the tax year 2006/07 and for the financial year to

31 March 2007 will continue to apply for the foreseeable future.

Text 2 To understand how astrology works, we should first take a quick look at the sky. Although the stars are at enormous distances, they do indeed give the impression of being affixed to the inner surface of a great hollow sphere surrounding the earth. Ancient people, in fact, literally believed in the existence of such a celestial sphere. As the earth spins on its axis, the celestial sphere appears to turn about us each day, pivoting at points on a line with the earth's axis of rotation. This daily turning of the sphere carries the stars around the sky, causing most of them to rise and set, but they, and constellations they define, maintains fixed patterns on the sphere, just as the continent of Australian maintains its shape on a spinning globe of the earth. Thus the stars were called fixed stars.

The motion of the sun along the ecliptic is, of course, merely a reflection of the revolution of the earth around the sun, but the ancients believed the earth was fixed and the sun had an independent motion of its own, eastward among the stars. The glare of sunlight hides the stars in daytime, but the ancients were aware that the stars were up there even at night, and the slow eastward motion of the sun around the sky, at the rate of about thirty degrees each month, caused different stars to be visible at night at different times of the year.

The moon, revolving around the earth each month, also has an independent motion in the sky. The moon, however, changes its position relatively rapidly. Although it appears to rise and set each day, as does nearly everything else in the sky, we can see the moon changing position during as short an interval as an hour or so. The moon's path around the earth lies nearly in the same plane as the earth's path around the sun, so the moon is never seen very far from the ecliptic in the sky. There are five other objects visible to the naked eye that also appear to move in respect to the fixed background of stars on the celestial sphere. These are the planets Mercury, Venus, Mars, Jupiter, and the Saturn. All of them revolve around the sun in nearly the same plane as the earth does, so they, like the moon, always appear near the ecliptic. Because we see the planets from the moving earth, however, they behave in a complicated way, with their apparent motions on the celestial sphere reflection both their own independent motions around the sun and our motion as well.

第26题：The ancient people believed that ________.

[A] the earth was spinning on the axis of the sky

[B] the sky was a hollow sphere spinning around the earth

[C] the patterns of stars on the sky would never change

[D] the stars around the sky were not stationary

听力原文：The tax return does not show accrued income.

(8)

A．The tax return is not shown in the income.

B．The income is not accurate in taxation.

C．The tax should be returned according to the income.

D．The tax return is not in accordance with the income that should be taxed.

I work in a little room off the main entrance _____ museum, checking coats and other articles which people do not want to carry around as they tour the building.

A:to

B:of

C:at

D:for

– How much money do you want to deposit today? -- ___________.

A、Two thousand Yuan.

B、That’s wonderful.

C、I like it.

D、See you around.

A.hitting around the trees

B.cheating me

C.telling a lie

D.avoiding giving me the direct answer

When ordering a new IBM Power Systems server, a customer is given the option of two types of Hardware Management Console:7042-CR4 and 7042-C06.Which main difference between the options would influence the customer‘s decision?（）

A.The 7042-CR4 is a rack mounted model, compared to the 7042-C06, which is adesktop.

B.The 7042-CR4 is limited to 16 managed systems, compared to a limit of 32 for the 7042-C06.

C.The 7042-C06 has faster CPUs and twice the RAM compared to the 7042-CR4,which is suited to large enterprise deployments.

D.The 7042-C06 can manage POWER5-based hardware, in addition to POWER6, while the 7042-CR4 can only manage POWER6-based hardware.

Passage Three

In an age when waste today means a lack tomorrow, making use of every available resource becomes more and more important. As coal is being used in greater and greater amounts to produce electricity, larger amounts of ash, by-product of coal, are produced. When coal is burned

in a boiler, two kinds of ash by-product are produced, a heavy bottom ash and a fine-as-powder fly ash that is filtered and captured by precipitators. About 10 to 15 percent of the coal by-product is bottom ash which is used like sand on icy city streets and highways and also on highways as paving material. It is the fly ash, however, that is receiving the greater amount of attention. Fly ash may be used as an additive to concrete in the construction of dams, bricks, and roads, and can replace up to 20 percent of the cement used in concrete. As a by-product of burned coal, fly ash requires no additional expenditure of energy to be produced, while cement production requires great amounts of energy.

In addition to using fly ash as a concrete additive, the technology is available to extract the main mineral components-aluminum, silicon, and magnetic. Today, extracting these components is a very expensive process, but the time may come when it is cheaper to extract these products from ash than to mine new supplies.

41. What can be used as a material to pave roads?

A. The coal by-product.

B. Additive.

C. Fine-as-powder fly ash.

D. Both B and C.

Which statement is correct concerning the carriage of coal in bulk ________．

A.Coal should be vented with surface ventilation only

B.Because of its inherent vice，coal should not be loaded wet

C.Dunnage should be placed against ship's sides and around stanchions

D.Through ventilation，as well as surface ventilation，should be provided whenever possible