2008年注册会计师考试《会计》英语附加题

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　　五、英文附加题（本题型共1题，共10分，答案中的金额单位以元表示，有小数的，保留两位小数，两位小数后四舍五入。用英文在答题卷上解答，答在试题卷上无效）。

　　Company A is a listed company located in P. R. China. On January 1,20×4,Company A signed two share-based payment arrangements as follow:

　　A.The company granted 100 cash share appreciation rights (SARs) to each of its 300 senior management employees, conditional upon the employees remaining in the company’s employ for the next three years. The cash share appreciation rights provided the employees with the right to receive, at the date the rights were exercised, cash equal to the appreciation in the company’s share price since the grant date. On Dece,ber 31,20×6,all SARs held by the remaining employees vested. They could be exercised during 20×7 and 20×8. The fair value and the intrinsic value(Which equals the cash paid out) of SARs are shown below.

	Fair value	Intrinsic value
January1,20×4	18
December 31,20×4	22
December 31,20×5	21
December 31,20×6	18
December 31,20×7	23	20
December 31,20×8	25	24

　　Management estimated, on the grant date, that 20% of the employees would leave evenly during the three-year period. During 20×4,22 employees left the company and management predicted the same level of departure for the next two years. During 20×5,20 employees left and management estimated that a further 15 employees would leave during year 3.Only 10 employees left during 20×6. At the end of 20×7,110 employees exercised their SARs, another 138 employees exercised their SARs on December 12,20×8.

　　Answer:

Year	Calculation of Liability	Calculation of cash payment	Liability	Cash payment	Expense of current period
20x4	(300-22×3)×100×22×1/3		171,600		171,600
20x5	(300-22-20-15)×100×21×2/3		340,200		168,600
20x6	(300-22-20-10)×100×18		446,400		106,200
20x7	(300-52-110)×100×23	110×100×20	317,400	220,000	91,000
20x8	0	138×100×24	0	331,200	13,800

Journal entries:

　　1. December 31, 20X4
Dr: Administrative expense 171,600
Cr: Wages payable 171,600

　　（300－22×3）×100×22×1/3=171,600

2. December 31, 20X5
Dr: Administrative expense 168,600
Cr: Wages payable 168,600

　　（300－22-20-15）×100×21×2/3－171,600=168,600

3. December 31, 20X6
Dr: Administrative expense 106,200

　　 Cr: Wages payable 106,200

　　(300－22-20-10）×100×18－171,600－168,600=106,200

4. December 31, 20X7
Dr: Gains and losses on changes of fair value 91,000

　　Cr: Wages payable 91,000

　　（300－22－20－10－110）×100×23－(446,400－220,000)=91,000
Dr: Wages payable　220,000
Cr: Cash 220,000

　　110×100×20=220,000

5. December 31, 20X8
Dr: Gains and losses on changes of fair value 13,800
Cr: Wages payable 13,800

　　0－(317,400－331,200)=13,800
Dr: Wages payable　331,200
Cr: Cash 331,200
138×100×24=331,200

2008年度注册会计师(CPA)考试《会计》真题及参考答案

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　　B. The company made an award of 1000 share option to each of its 100 employees working in the sales department. The share option would vest at end of 20×6, provided that the employees remained in the employ of the company till the date of vest, and provided that the company’s earnings per share (EPS) increased by at least an average of 10% over the three-year period. The exercise of each option was ￥15, but it would drop ￥10 if EPS increased by an average of 15% or more.

　　On the grant date, the company estimated that the fair value of the share option was ￥25 per option if the exercise price was ￥15, ￥30 if the exercise price was ￥10.

　　In the year ended December 30, 20×4, the company’s EPS increased by 16% and the management forecasted similar growth for the next two years. However, during 20×5, EPS increased by just 12% resulting in a average for the two-year period 14%. Therefore the management expected that EPS would continue to increase at 14% for 20×6. In the year 20×6, EPS of the company increased by 17% resulting in an average for the three-year period of 15%.

　　During 20×4,10 employees left the company and management predicted that a total of 35 employees would leave by the end of 20×6. 15 employees departed during 20×5,and hence 60 employees were expected to remain. By the end of 20×6, a further 5 employees had left.

　　Required:

　　Prepare accounting entries for the above transactions or events.

　　Answer:

year	calculation	Expense of current period	Accumulated expense
20x4	（100-10-25）×1,000×30×1/3	650,000	650,000
20x5	60×1,000×25×2/3－650,000	350,000	1,000,000
20x6	(100-10-15-5) ×1,000×30×3/3－650,000－350,000	1,100,000	2,100,000