1、ACCA 考试 P1 专业会计师(Singapore)真题 2014 年 12 月及答案解析(总分：125.01，做题时间：180 分钟)一、Section A This ONE (总题数：1，分数：50.00)Eland the country Eland is an industrial country with a relatively high standard of living. Most commercial and domestic consumers have computers and printers. However, the economic performance
2、of the country has declined for the last seven years and there are large areas of unemployment and poverty. The economic problems of the country have led to a significant decline in tax revenues and so the government has asked its own departments (and the public sector as a whole) to demonstrate val
3、ue-for-money in their purchases. The government is also considering privatising some of its departments to save money. The Department of Revenue Collections (DoRC), which is responsible for collecting tax payments in the country, has been identified as a possible candidate for future privatisation.
4、The people of Eland are enthusiastic about the principles of reuse and recycling. There has been a notable rise in the number of green consumers. Mindful of this, and aware of the economic benefits it delivers, the government is also encouraging its departments (and the economy as a whole) to recycl
5、e and reuse products. The printer consumables market There is a significant computer printer market in Eland, dominated by Original Equipment Manufacturers (OEMs).Many of these are household names such as Landy, IPD and Bell-Tech. OEMs also dominate the printer consumables market, which is worth abo
6、ut $200m per year. However, there are also independent companies who only supply the printer consumables (printer cartridges and toner cartridges) market, offering prices which significantly undercut the OEMs. The printer and printer consumables markets are both technology driven, with companies con
7、stantly looking for innovations which make printing better and cheaper. The emergence of independent printer consumables suppliers has not been welcomed by the OEMs. They have brought legal actions against the independents in an attempt to make refilling their branded products illegal. However,they
8、have not succeeded. The government in Eland has ruled this to be anti-competitive. However, the OEMs continue to promote their case with political parties, claiming that they need the revenues from printer consumables to fund innovations and advances in printer technology. They also regularly issue
9、statements which worry consumers,claiming that printers may be harmed by using ink which is not from the OEM. Landy has been particularly aggressive in this regard. It continues to pursue legal claims against the independents and has also issued a statement which makes clear that if one of their pri
10、nters is found to be faulty whilst using non-Landy ink, then the printers warranty will be void. It is relatively easy to enter the independent printer consumables market and so companies tend to compete on price.There is little brand loyalty amongst consumers, who regularly change their choice of b
11、rand. The independent companies constantly focus on finding technologies which make the print cartridges cheaper to buy and are of better quality. Used print cartridges can be reused for their material alone (recycled), or reused by being refilled with ink.However, there are still printing products
12、on the market which can only be used once, or are expensive to recycle. ReInk Co ReInk Co (ReInk) was formed five years ago by Dexter Black, a technology entrepreneur with expertise in printer technologies. He still remains the only shareholder. He set up ReInk to produce and market his designs for
13、reusable ink systems. ReInk is focused primarily on the reuse of printer cartridges by using a process to refill them with ink.Key technical elements of ReInks innovative process for refilling cartridges have been patented, but in Eland, such patents only last for eight years. The current patent has
14、 a further six years to run. The company was established in a declining industrial town in Eland with high unemployment. Government grants were available for two years to help support hi-tech industry and purpose built factories were cheap, readily available and, initially, rent free. Although the c
15、ompany now pays rent for its factory and offices, the annual rent is relatively low. The area has a good supply of people suitable for administrative and factory jobs in the company. ReInks location is also close to an attractive area of countryside, which Dexter felt would appeal to the technology
16、experts needed to help him exploit and develop his printer technology ideas. It would help provide a good standard of living and relatively cheap property and so he could attract good staff for modest salaries. His assumption proved correct. He has been able to attract an expert team of technologist
17、s who have helped him develop a unique approach to printer cartridge reuse. As one of them commented, I took a pay cut to come here. But now I can afford a bigger house and my children can breathe fresh country air. ReInk is an attractive company to work for and the team of technologists are enthusi
18、astic about working with such an acknowledged industry expert, where technical innovation is recognised and rewarded. Both his staff and competitors acknowledge Dexters technical expertise, but his commercial expertise is less well regarded. Dexter recognised this as a weakness and it was the prime
19、driver behind his decision to recruit two new directors to the company. To fund the development of the printer refilling technology, ReInk has needed significant bank loans and a substantial overdraft. Although the company has made a small operating profit for the last three years, interest repaymen
20、ts have meant that it has recorded a loss every year. It currently has revenues of $6m per year, 20% of which are derived from a long-term contract with the DoRC. ReInk is not one of the independent companies currently being sued by Landy. To help him address these continuing financial losses, Dexte
21、r recently recruited a sales director to attempt to increase revenue through improved sales and marketing and a human resources (HR) director to review and improve staffing practices. Together with the financial director and Dexter himself, they make up the board of ReInk. Although both of these rec
22、ently appointed directors had the commercial expertise which Dexter lacked, neither has been a success. The technologists within the company are particularly scathing about the two new appointments.They claim that the sales director has never really made the effort to understand the market and that
23、he does not really understand the product we are selling. There has been no evidence so far that he has been able to generate more sales revenue. The HR director upset the whole company by introducing indiscriminate cost cutting and attempting to regrade staff to reduce staff costs. The technologist
24、s believe that the HR director clearly has no experience of dealing with professional staff. Despite the appointment of the new sales director, ReInk is still not recognised by the majority of the consumers who were surveyed in a recent brand awareness survey. No significant marketing is undertaken
25、outside of the development and promotion of ReInks website. In search results, it often appears alongside companies which appear to offer similar services and usually have very similar trading names. ReInk continues to struggle financially, and its bank, Firmsure, in response to its own financial di
26、fficulties, has recently reduced ReInks overdraft facility, creating a cash flow crisis which threatens the companys very existence. At present,it does not have enough cash to meet next months payroll payments. The employees of the company are well aware of the companys financial position and althou
27、gh they are proud of the companys technical achievements, they believe that the company may soon go into administration and so many are actively looking for other jobs in the industry or in the area. A combination of poor management (particularly from the new directors) and the companys uncertain fi
28、nancial position has demotivated many of the employees, particularly the technologists who have created the companys vital technical edge over its competitors. Vi Ventures (VV) Vi Ventures are venture capitalists who inject money and management expertise into struggling companies, in exchange for a
29、certain degree of control, ownership and dividend reward. They have acknowledged financial and management competencies which they have used in a variety of commercial environments. They are experienced change managers. VV have been introduced to ReInk by Firmsure and they are considering some form o
30、f involvement. Actual arrangements are still under consideration and will only be discussed after they have made their standard assessment of ReInks strategic position. This standard assessment report contains three elements: A SWOT analysis An assessment of the contextual factors of strategic chang
31、e. They need to understand what factors will affect the change which they may need to bring to the company. The framework they use is shown in Figure 1 and is derived from the work of Balogun and Hope Hailey. A TOWS matrix analysis to identify strategic options which might be pursued if VV invest in
32、 the company. （分数：50.01）(1).(a) Undertakes a SWOT analysis of ReInk Co. (20 marks)（分数：16.67）_(2).(b) Evaluates the effect of contextual features on the introduction of strategic change at ReInk Co. (14 marks)（分数：16.67）_(3).(c) And, in the light of your analysis above, recommends possible strategic o
33、ptions for each quadrant of a TOWS matrix of ReInk Co. (12 marks) Professional marks will be awarded in question 1 for the overall quality, construction, fluency and professionalism of the complete standard assessment report required by Vi Ventures. (4 marks)（分数：16.67）_二、Section B TWO ques(总题数：3，分数：
34、75.00)2 For 11 years, Marco was a senior salesman at AQT, a company specialising in IT certification courses. During that time, AQT became the most successful and dominant training provider in the market. Marco has now left AQT and established his own training company, iTTrain, aimed at the same IT
35、certification market as his former employers. He wishes to offer premium quality courses in a high quality environment with high quality teaching. He has selected a number of self-employed lecturers and he has agreed a daily lecturing fee of $450 per day with them. He has also selected the prestigio
36、us CityCentre training centre as his course venue. It has a number of training rooms which hold up to nine delegates. Each training room costs $250 per day to hire. There is also a $10 per day per delegate charge for lunch and other refreshments. Although not a lecturer, Marco is an IT expert and he
37、 has already produced the relevant documentation for the courses iTTrain will run. He sees this as a sunk cost and is not concerned about recovering it. However, printing costs mean that there is also a $20 cost for the course manual which is given to every course delegate. Marco has scheduled 40 co
38、urses next year, as he is limited by the availability of lecturers. Each course will have a maximum of nine delegates (determined by the room size) and a minimum of three delegates. Each course is three days long. iTTrain has been set up with $70,000 of Marcos own money. He currently estimates that
39、fixed annual costs will be $65,000 (which includes his own salary) and he would like the company to return a modest profit in its first year of operation as it establishes itself in the market. Marco is currently considering the price he wishes to charge for his courses. AQT charges $900 per delegat
40、e for a three-day course, but he knows that it discounts this by up to 10% and a similar discount is also offered to training brokers or intermediaries who advertise AQT courses on their own websites. Some of these intermediaries have already been in touch with Marco to ask if he would be prepared t
41、o offer them similar discounts in return for iTTrain courses being advertised on their websites. There are also a number of cheaper training providers who offer the same courses for as little as $550 per delegate. However, these tend to focus on self-financing candidates for whom price is an issue.
42、These courses are often given in poor quality training premises by poorly motivated lecturers. Marco is not really interested in this market. He wants to target the corporate business market, where quality is as important as price and the course fee is paid by the delegates employer. He is currently
43、 considering a price of $750 per delegate. During his employment at AQT, Marco collected statistics about courses and delegates. Figure 1 shows the data he collected showing the attendance pattern over 1,000 courses. （分数：25.00）(1).(a) Suggest a pricing strategy for iTTrain, including an evaluation o
44、f the initial price of $750 per delegate suggested by Marco. Your strategy should include both financial and non-financial considerations.(16 marks)（分数：12.50）_(2).Physical evidence, people and process are three important elements of the marketing mix for services. Analyse the contribution each of th
45、ese three elements could make to the success of iTTrains entry into the IT certification market. (9 marks)（分数：12.50）_3 Introduction The following is an interview with Mick Kazinski, a senior marketing executive with Bridge Co, a Deeland-based construction company. It concerns their purchase of Custc
46、are, a Customer Relationship Management (CRM) software package written by the Custcare Corporation, a software company based in Solland, a country some 4,000 km away from Deeland. The interview was originally published in the Management Experiences magazine. Interviewer: Thanks for talking to us tod
47、ay Mick. Can you tell us how Bridge Co came to choose the Custcare software package? Mick: Well, we didnt choose it really. Teri Porter had just joined the company as sales and marketing director. She had recently implemented the Custcare package at her previous company and she was very enthusiastic
48、 about it.When she found out that we did not have a CRM package at Bridge Co, she suggested that we should also buy the Custcare package as she felt that our requirements were very similar to those of her previous company. We told her that any purchase would have to go through our capex (capital expenditure) system as the package cost over $20,000. Here at Bridge Co, all capex applications have to be accompanied by a
