FARサンプル問題の解答解説
FARのAICPA Sample問題の解答解説を行います。
Q1. Which of the following methods should be used to account for research and development costs with no alternative future use?
A. Charging all costs to expense when incurred.
解説．with no alternative future useとあるので、発生時に費用処理です。
Q2. Lind Co.'s salaries expense of $10,000 is paid every other Friday for the 10 workdays then ending. Lind's employees do not work on Saturdays and Sundays. The last payroll was paid on June 18. On Wednesday, June 30, the month-end balance in the salaries expense account before accruals was $14,000. What amount should Lind report as salaries expense in its income statement for the month ended June 30?
この問題は分かりにくいですが、費用は発生主義だという原則で考えるとわかります。
$10,000/10=$1,000(一日当たりの費用)で、営業日は22日(6/18が金曜日から計算できます)。よって、1,000×22=22,000
A.＄22,000
Q3. The FASB makes changes to the Accounting Standards Codification by issuing
A. Accounting Standards Updates.
これはテキストに記載のとおりです。
Q4. Which of the following is considered part of the required supplementary information for general purpose external financial reporting of a local government?
A. Management discussion and analysis.
この問題が一番ややこしいです。テキストではMD&A,Notes,RSIを分けて記載しているのですが、MD＆Aも広い意味でRSIなので、これが正解となります。このようにややこしい問題はたしかRQにもあった気がします。
Q5. In preparing consolidated financial statements of a U.S. parent company with a foreign subsidiary, the foreign subsidiary’s functional currency is the currency
A.Of the environment in which the subsidiary primarily generates and expends cash.
機能通貨は在外子会社が主たる収入・支出に使用している通貨のことです。これもテキスト通りですね。
Q6.A government entity is required to include a statement of cash flows in which of the following financial statements?
A.Proprietary fund financial statements.
これはテキストの表のとおりです。Proprietary fundは企業会計と同じと覚えると、CFも開示する必要があるとわかると思います。
Q7.
NPOが保有する金融資産は全面時価評価なので、A.＄14,900
Q.8 On January 1, year 1, a company purchased equipment for $100 million. The equipment consists of four major components, of which two components comprise 80% of the total cost and each has a 20-year useful life. The remaining two components have costs of $10 million each; one of them has a useful life of four years, and the other has a useful life of five years. The company applies the cost model to the equipment and uses the straight-line method of depreciation. Under IFRS, what is the depreciation expense for the year ended December 31, year 1?
A.$8,500,000
このIFRSの問題はたしかBATICでも出てきた気がします。なんとなくUSCPAが好きそうな問題だとおもうのですが、次の改正以降はIFRSはなくなるらしいので気にしなくてよい問題です。
一応解説すると、100,000,000×80%÷20+10,000,000÷4+10,000,000÷5です。
テキスト通りですね。
Q9.A bond issued on June 1, year 1, has interest payment dates of April 1 and October 1. Bond interest expense for the year ended December 31, year 1, is for a period of
A.Seven months.
社債の利息ですが、発生主義なので支払日は関係ありません。6/1発行なので7か月が正解です。
Q10.Simm Co. has determined its December 31 inventory on a LIFO basis to be $400,000. Information pertaining to the inventory follows:
Estimated selling price:$408,000
Estimated cost of disposal:$20,000
Normal profit margin:$60,000
Current replacement cost:$390,000
At December 31, what should be the amount of Simm's inventory?
A.$388,000
これはLIFOの低価法の問題になります。LIFOの低価法の場合、再調達価格と比較して低いほうが簿価になりますが、上限：NRV、下限：NRV-nomal profitなので、当てはめると408,000-20,000=388,000となります。
以上になります。sample問題に似た問題は本番も出やすいと聞きますので、ぜひよく復習してから本番に臨んでください！気が向いたらTBSの解答解説もやりますね。
