习题代练2019 marjun真题

SdanviACCA会员，两年内SdanviACCA会员，两年内高分通过ACCA，ACCA中国认证资深教学顾问（China考官报告level均分全球TOP10P3TOPTutorGuru）:SBLMarker,SBL大陆区高顿ACCA明星导师，状元收割机，有8位荣获大陆/全球第一的佳PrepareabriefingpapertoPrepareabriefingpapertobepresentedatthenextboardmeeting,(a)AnalysestheenvironmentinwhichSmartWearoperatesandconsiderhowthisimpactitsbusinessmodel,missionandstrategic(10(b)AssessesthemajorriskspresentedbySmartWear’scurrentbusinessmodel,suggestsappropriatemitigatingactionstomanagethese(10ProfessionalskillsmarksareavailableforevaluationskillsbyassessingtheidentifiedatSmartWear(4(24BriefingBriefingFAO:theboardofSmartWear(e.g.opportunitiesthreats)Withoutconfidenceinpoliticalcontinuity,investorsarelessinclinedtorisktheirmoney.ThiswillmakeitmoredifficultforSmartWeartoraisethenecessaryfinancetogrowthebusinessfurther,orevensustainitscurrent点题：reconsiderthecompany’sstrategic==lessdisposableincome,consumerswouldbemoreinclinedtopurchasetheirclothingneedsfromvalueretailerslikeSmartWear.Indeed,thecompanyhasbenefitedfromthiseconomically-drivenbehaviouralshift.=consumersmaydecidetoreturntomoreupmarketclothingretailersandfromlow-endcompanieslikeSmartWear.Theboardshouldconsideritsinternationalportfolioofbusinessesinordertomanagetheriskassociatedwithdiversenationaleconomies==increasethenumberofnewentrantsintothelowendofthemarketandsuggeststhatonlythosecompanieswhoareabletosustainhighvolumesaleswillsucceedinthelongrun.satisfyconsumerdemandsgoing电子商务的发展，线上平台的使用=电子商务的发展，线上平台的使用=impactnewclothinge-retailerscanpressureonprices,squeezingthemarginsofallcompaniesincludingdevelopingandoperatingitsowne-commerceplatform,asthiscouldallowforsubstantialrevenuegrowthwithouttheneedtoestablishacostlynetworkofretailoutletsandwouldallowarationalisationoftheportfolioofphysicalretailoutlets,toreleasefundsandreduceoperatingcosts.（b）（b）Subject:MajorrisksarisingfromtheSmartWearbusinesssuppliermanagementNopricecomparisonHighdependencyonoverseassuppliers:supplyleadtimeverylongandreducesthecompany’sabilitytorespondtochangingcustomerdemands.后果：reducingskillsoftheprofessionalsalesteamstoaccuratelypredictthecontinuousdemandlevelsforallclothingAneffectiveinventorymanagementsystemwouldprovideinformationonlevelsofstockheldineachretailoutletStrategicStrategiccurrentlypursuesacostleadershipHowever,withthegrowingemergenceofe-retailersinthemarketwhodonotneedtoemploysalesstafforoperatecostlyretailoutlets。后果：itthreatensthefundamentalcosteffectivenessofthecurrentSmartWearbusinessmodel.theemphasisshouldbeoncostcontinuetoinvestinthoseoverseasmarkets,furtherscaleparticularlyifnon-corebusinessfunctionsarecentralisedratherthanForeignexchangeForeignexchangerisk/currencySmartWearcurrentlyoperatesinNoriaandtwootherEuropeancountries,theirowncurrency.Also,themanufacturersofallSmartWearproductsarebasedinAsiaandwillexpectpaymentintheirfunctionalcurrencies.resultinhighercosts,consumeexcesscashandreducecorporatehedgedusingappropriatefinancialmanyestablishedcompetitors&newentrantsthreats(duetotheLosingthemarkettoengagemorecloselywithitscustomers.Byandsatisfyingthechangingdemandsfromitscoremarkets,thecompanycanstayaheadofcompetitionbysuccessfullyadjustingitsmarketingMarkettheMarkettheincreasingtendencyofconsumerstoshoplosingcustomerSmartWearneedstoadaptandembracethegrowingonlineshoppingpublicthiscouldresultinsubstantialrevenuegrowth.developandmanageitsownonlinesalesplatform.TheboardisbecomingawarethatNoriamaynotbethesuitablecountryTheboardisbecomingawarethatNoriamaynotbethesuitablecountrythatitwas15yearsagoforabusinesslikeSmartWeartooperatesuccessfullyin.ThefinancialperformanceofSmartWearinSouthlandissignificantlybetterthanthatbeingachievedinthemoreestablishedhomelandofNoria,orinitsotherEuropeanmarketslikeCentrum,sotheboardhasaskedyoutohelpthemunderstandwhythisisthecase.Tohelpwiththistask,youhavegatheredsummarisedinformationonthecountryofSouthland,whereSmartWearopeneditsfirstretailoutletsixyearsago,togetherwithcomparativedataforNoriaandtheneighbouringcountryofCentrum.Thecompanynowhasover30retailoutletsinallmajortownsandcitiesacrossthecountryofSouthland,wheretheeconomyisbooming,andSouthlandgeneratesthemostofSmartWear’srevenueasanationalmarketafterPrepareaPrepareareportfortheboard,inwhich(a)Analysethecompany’sstrategicpositionintheSouthlandmarkettodeterminewhySmartWearappearstobeperformingsowellinthisparticularcountrycomparedto(8ProfessionalskillsmarksareavailablefordemonstratinganalysisskillsindeterminingSmartWear’sstrategicpositionintheSouthlandmarket.(2To:TheBoardFrom:ConsultantDate:(a)Subject:strategicpositioninSouthlandmarketananalysisofSmartWear’sstrategicpositionintheSouthlandwhythisspecificcountryappearstobeasuitablelocationforaclothingFactorFactorHumanresource(workingagepopulation,youngerpopulation)=>availabilityinlabourwhichisofcriticalimportanceforSmartWearinallowinggoodstobemovedtomarketcheaplyandquicklyDemandDemand:DemandDemand:economiccondition(intherequirementofrespondtocustomers’demands,whichinturnencouragescompaniestobeinnovativeandenhancetheircompetitiveadvantages.Retailingisoneofthecountry’sdominantbusinessRelatedandRelatedandsupportingTransportationIntheretailsector,wherethecompaniesonlysellwhatothersmake,itisvitalthattherearereliabletransportanddistributionsystemstocontinuouslysupplytheretailoutletswithgoodsforitsshelves.Freemarketeconomy=>financialserviceFinancingismuchmoreeasierinadevelopedcapitalFirm,strategy,structureandFirm,strategy,structureandHighCompetition=>dominantbusinessSmartWearnowoperates30retailoutletssinceitopeneditsfirststoresixyearsago,itisdeliveringsignificantlybetterfinancialperformancethanathome.ThissuggeststhattheSmartWearbusinessmodelsuitstheretailenvironmentandcultureinSouthland,soitisasuitablecountrytofurthergrowthebusiness.TheboardagreedthataradicalresponsetothecurrentsituationwasrequiredtoreassureinvestorsandthestockmarketbyshowingthemthattheSmartWearboardremainedincontrolofthebusiness,andwaswillingtotakeessentialactionwhennecessary.TheboarddecidedthatthecompanyneededtoTheboardagreedthataradicalresponsetothecurrentsituationwasrequiredtoreassureinvestorsandthestockmarketbyshowingthemthattheSmartWearboardremainedincontrolofthebusiness,andwaswillingtotakeessentialactionwhennecessary.Theboarddecidedthatthecompanyneededtorationaliseitsoperationsbyclosingthe20worstperformingretailoutletsinNoria,andwithdrawingentirelyfromtheneighbouringcountryofCentrum,whereSmartWear’s15retailoutletswereallsufferingheavylossesandshowingabsolutelynosignofrecovery.(b)Evaluate(b)EvaluatethestrategicandethicalimplicationstoSmartWearoftheplannedshopclosuresinNoriaandthewithdrawalfromCentrum.(12marks)Professionalskillsmarksareavailableforapplyingscepticismskillstotheunderlyingissuesandproblemswhichmayarisefromthisstrategicdecision.(2marks)（24Subject:WithdrawingfromtheSubject:WithdrawingfromthemarketinNoriaanddiscussestheimplicationsofwithdrawingfromthemarketinNoriaandFinancial•Reductionin•mayimproveoverallreported•itwillgivetheimpressiontothemarketthatthebusinessiscontracting.=>moredifficultforthecompanytoraisefinancefromnewinvestorsResourceResourcesaleofanyredundantproperty&savingsinrunningthesefundscouldbeusedtoinvestandgrowthebusinessincountriesmoreconducivetotheSmartWearbusinessmodel,suchaSouthland.ChangeCommunicateChangeCommunicatetoallkeystakeholdersthereasonsbehindtheclosureandhowtheywillbeaffected.•••PublicPlannedLegal•statutoryLegal•statutoryredundancy•residualtaxationTheethicalissuesTheethicalissuesarisingfromthedecision(tucker’s5IsthedecisionSmartWeariscurrentlyincurringheavylossesinNoriaandCentrum.SothedecisionisinthebestinterestsoftheinvestorsinSmartWear,towhomtheboardhasafiduciarydutyIsthedecisionThoseemployeeswhoaretobemaderedundantmayconsiderthattheyhavebeentreatedunfairlyhowever,ifobjectivecriteriahavebeenfairlyandconsistentlyappliedwhentakingthedecision,thenthecompanycannotbeaccusedofactingunethically.IsthedecisionIsthedecisionnolegalreasonswhythecompanycannotreduceitsoperationsinNoria,withdrawfromCentrumandmakestaffredundant.Thedecisionmayultimatelypreservefarmorejobselsewherethroughoutthecompanyoverthelongrun.Isitmayhavedamagingconsequencesforthatcountry’seconomy.Withrisingunemployment,itisquiteprobablethattheredundantstaffwillfinditverydifficulttoobtainalternativeemployment.ViewingallofViewingallofthenationalinfluencingfactorsholistically,itisapparentthatSouthlandoffersagoodbusinessenvironmentforaclothingretailerlikeThedecisiontoreducecapacityinNoriaandwithdrawcompletelyfromCentrumseems,onbalance,tobeethicallyacceptable.DraftaDraftamemotothebuyingandmerchandisingdirector,whichevaluatestheeffectivenessofinternalcontrolsystemsatthecompany,particularlyontheprocurementside,andrecommendscontrolimprovementstorectifytheidentifiedareasofconcern.(12marks)Professionalskillsmarksareavailableforcommercialacumenskillswhenrecommendingsolutionstothoseissueshighlightedintheinternalauditreport.(4(1633From:ConsultantSubject:SupplychainmanagementTherecentinternalauditreportonthesupplychainmanagementarrangementshighlightedanumberofissueswhichrequireyourimmediateattention.CostPositionedCostPositionedatthelow-priceendofthemarket=costcontrolisveryThecostofbuyingofclothingfromoverseassupplierscomprisessignificantproportionoftheSmartWearcoststructure=>needveryeffectivecostcontrol.However:cultureofPriceisnotperiodicallyreviewedorcomparedagainstindustryaverages,andonlyrenegotiatedwhentheycomeupforrenewalafterseveralyears.=>mayincreasecosts,reduceprofitmarginThisisparticularlydamagingduringtheperiodsofeconomicrecession,becausecompanyisunabletoraiseitsownsellingpricestocompensate.RecommendedRecommendedcontrolimprovementsformoreproactiveintheirmanagementofthesupplycontractstoensurethatthecompanyisgettingbestvalueformoney.E.g.Contractperiods;qualityoftheproducts;Setindividualobjectivesandtargets,withperformance-basedrewardstomotivatethebuyingteamtodeliverresultswhichwillultimatelyimprovecorporateperformance.CorporatesocialCorporatesocialresponsibilityRecentreportshaveclearlyindicatedthatsomeSmartWearsuppliershavebeeninbreachofminimumstandardsforthetreatmentofworkforce.Thiscouldbebecausethebuyingdepartmentisunderpressuretomaintainlowwhollyunacceptable,becauseitagainstthestatedstrategicgoalofthecompanyinitsmissionstatement(tofunctionatthehigheststandardsofsocialRecommendedcontrolimprovementsRecommendedcontrolimprovementsforThosesupplierswhoareinclearbreachoftheirsupplycontractneedtobeformallyadvisedthattheymustimmediatelybringtheworkingconditionsattheirfactoriesuptotheminimumacceptablestandard,orthecontractwillbecancelled.RemindthebuyingdepartmentthatanyunethicalbehaviourpresentsamajorrisktothecompanySmartWearauditorsmakingperiodicunannouncedspotchecksatsupplierMakeastatementtopublictoreassurethebuyingpublicandinvestorsthatSmartWearhastakenthenecessaryactiontodealwiththeissue.PoorPoorreportingaroundsupplierAtSmartWearonlythoseissueswhichareconsideredtobeofaseriousnaturearebroughttotheattentionoftheboardandseniormanagement.However,lowlevelstaffaredecidingwhichmattersneedtobereported,andthisinturncouldleadtobusinessfailuresgoingunaddressed.RecommendedcontrolRecommendedcontrolimprovementsforStandardisedprocurementreportsshouldbeproducedandsubmittedtoseniormanagementonafrequentbasis.ThroughthesereportstheboardwillbefullyawareofthisimportantaspectoftheSmartWearbusinessmodel,andsocantakeappropriateactiontooptimiseoperationalandfinancialperformance.WriteareportonbehalfofWriteareportonbehalfofthesalesandmarketingdirector,forpresentationtotheboardwhichachievesbothofthefollowing:(a)Describesthebenefitsofintroducingacustomerdatabasemanagementincludingtheloyaltyscheme,for(6Professionalskillsmarksareavailableforcommercialacumenskillsbydemonstratingawarenessofbusinessandwiderexternalfactorsimpactingonthedecisiontoimplementthe(2(b)Evaluatesthemarketingdepartment’sNPVanalysisthatsupportstheinvestment,questioninganyunderlyingassumptions(10Professionalskillsmarksareavailablefordisplayingscepticismaboutthecashforecastusedtosupportthe(244From:Salesandmarketing(a)Subject:BenefitsofacustomerdatabasesystemThedevelopmentofacustomerrelationshipmanagement[CDMS]system,whichincludesacustomerloyaltyprogramme,wouldhelptoattractnewbusiness,improvecustomerretentionandyieldmoreBenefitsof•HelpBenefitsof•Helpthecompanybetterunderstandtheneedsoftheandrequirementsofthecustomers.(e.g.personalizedmarketing)•Helpthecompanyattaingreatermarket•Havingaccesstoallcustomerandrelatedbusinessdatainonedatabaseallowsfortimelyandwell-informeddecisionstobetakenwhichcanenablethecompanytobemoreresponsivetoitscoremarkets.(accurateanddetailedperformanceinformation,improveefficiency)(b)Subject:underlyingassumptionsinNPV(b)Subject:underlyingassumptionsinNPVNPV>0profitableinthelong-term,however,thisamountiscalculatedbasedonlotsofassumptions,whicharequestionable.•constantat$22millioncontributionthroughoutthefive-year•Thetotalinvestmentfigureof$38millionincludesthecostofafive-yearmaintenanceandsupportcontract?•Operatingcostissetataconstantlevelof$2millioneach•10%WACCisused,sotheinterestpayableon•AnytaxPreparePrepareoneslide[withappropriatenotes]forabriefpresentationtobegivenbytheCFOatthenextboardmeetingwhichdescribesthebenefitsofintegratedthinkingwithinSmartWeartoallstakeholders.(6PrepareabriefingpaperfortheCFOtoallowhimtoaddressthewiderfinanceteamtoexplainhowcorporatereportingusingthe<IR>frameworkprovidesmorerelevantinformationforSmartWear’sshareholdersaboutthecreationofsustainablelong-termvalue.(6marks)Professionalskillsmarksareavailablefordemonstratingappropriatecommunicationskillstothedifferent(4SlideBenefitsofintegrated•SlideBenefitsofintegrated•allowsittofocusoncreatingsustainablebusinessstrategy(low-priceend•utilisesabroaderinformationbasetomakeonrelativelylong-termdecisions.(CDMS)•improvementsinthegovernancearrangements(enhancingaccountability;greaterunderstandingofthebusiness;greaterassurancetoshareholders)•encouragesemployeeengagementinallaspectofbusinessactivity(betterengagementwithcustomersviaCDMS)•improvesinternalcommunication•improvesinternalcommunication(improveinter-departmentalcooperationandenhancetheefficiencyandeffectivenessofbusinessoperations)•goodrelationshipswithkeystakeholders(takesintoaccount,andrespondstotheirlegitimateneedsandinterests)•understandhowmanagingtherelevantriskfactors(supplyFAO:CFOFAO:CFOSubject:<IR>frameworkinthecreationofsustainablelong-term可以做一个简单的Theintegratedreporting<IR>•abroaderandricherpictureoftheorganisation,improvethequalityofhowvaluecanbecreatedinthelongertermgivesabetterbasisfordecision-makingUsing6capitalstomakeamorecompleteappraisalofSmartWear’s•••FinancialFinancialfundswhichareavailabletoSmartWear,includingbothdebtandequityfinance.Thefocushereisonsourcingnecessaryfunds,ratherthantheirapplicationinthebusiness.However,investorswillwanttoknowhowfinancialcapitalhasbeendeployedinthepast,andwhatthefutureplansbasedaroundaholisticandwell-roundedstrategymightbe.Withmoreintegratedthinkingandmanagement<IR>providesfargreaterclarityoncorebusinessissuesandperformance,whichcanbeveryreassuringtoIntellectualIntellectualisfundamentaltofutureearningpotential,linkinginvestment,innovation,knowledgemanagementandmanagingexternalrelationshipstothedeliveryofcompetitiveadvantage.Thecarefulmanagementofsuppliernetworksandunderstandingthechangingmarketconditions,throughthenewCDMSsystem,willdemonstrateagooduseofintellectualcapitalinSmartWear.Effectivedevelopmentofintellectualcapitalleadstoinnovationandinvestmentinre