2013年注会《职业能力综合测试》强化训练题(9)

　　9.(1)每张债券价值=100×8%×(P/A，10%，6)+100×(P/F,10%,6)=91.29(元);每10张认股权价值=100-91.29=8.71(元);每张认股权证价值=8.71÷10=0.871(元)。

　　(2)认股权证筹资的主要优点是可以降低相应债券的利率。通过发行附有认股权证的债券，是以潜在的股权稀释为代价换取较低的利息。

　　认股权证筹资的主要缺点是灵活性较少。附带认股权证的债券发行者，主要目的是发行债券而不是股票，是为了发债而附带期权。认股权证的执行价格，一般比发行时的股价高出20%至30%。如果将来公司发展良好，股票价格会大大超过执行价格，原有股东会蒙受较大损失。此外，附带认股权证债券的承销费用高于债务融资。

　　10.加权平均资本成本=15%×{287520/359400}+8%×(1-25%)×{71880/359400}=13.2%;

　　剩余经营收益=60250-359400×13.2%=12809.2(万元);

　　剩余净金融支出=3500-71880×8%×(1-25%)=-812.8(万元);

　　剩余权益收益=56750-287520×15%=13622(万元)。

　　以剩余收益为基础的业绩评价的优点：(1)剩余收益着眼于公司的价值创造过程，与增加股东财富的目标一致;(2)剩余收益指标有利于防止次优化，可以更好地协调公司各个部门之间的利益冲突。

　　以剩余收益为基础的业绩评价的缺点：(1)剩余收益是绝对指标，不便于不同规模的公司和部门的业绩比较;(2)剩余收益基础的业绩评价依赖于会计数据的质量。

　　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.

　　(根据相关法律制度以及公司章程的有关规定，我们作为公司的独立董事，对公司董事会的相关议案进行了核查，我们基于独立判断的立场，发表独立意见如下：

　　经审查，春华会计师事务所有限责任公司具备从事证券、期货类相关业务的审计资格，具有丰富的职业经验;且为本公司提供了多年的财务审计服务，对公司经营发展情况较为熟悉，具备承担公司内部控制规范工作情况的审计能力，能够满足公司内控审计的需要，亦不存在损害公司整体利益及中小股东权益的情况。因此，同意聘请春华会计师事务所有限责任公司为本公司 2012 年度内部控制审计机构，并同意提交公司 2012 年第1次临时股东大会进行审议。)

　　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)违反。王明担任关键审计合伙人5年轮换后，再次担任该客户的关键审计合伙人需要在2年后，否则因自我评价违反职业道德守则。

　　(2)违反。因企业合并导致乙公司成为东正事务所的审计客户，王明担任审计客户(乙公司)的独立董事会，因自我评价违反职业道德守则。

　　(3)违反。王明所在分部的其他合伙人在审计客户中拥有直接经济利益，因经济利益违反职业道德守则。

　　(4)违反。审计项目组成员的主要近亲属(其妻子)是审计客户的高级管理人员，其岗位职责对财务报表产生重大影响，因密切关系违反职业道德守则。

　　(5)不违反。审计项目组成员曾在审计客户(晨威公司)负责员工的培训工作，其岗位职责对财务报表不产生重大影响，不存在密切关系违反职业道德守则。

　　(6)违反。东正事务所和华光事务所属于网络事务所，华光事务所承担内部控制设计服务属于承担审计客户管理层职责，因自我评价违反职业道德守则。