(d) Evaluate the circumstances in which a government can act as an aid to business performance. (5 marks)
(c) Critically evaluate Vincent Viola’s view that corporate governance provisions should vary by country.(8 marks)
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2 (a) Explain the term ‘backflush accounting’ and the circumstances in which its use would be appropriate.(6 marks)
(b) Briefly discuss how stakeholder groups (other than management and employees) may be rewarded for ‘good’performance. (4 marks)
(ii) Briefly discuss THREE disadvantages of using EVA? in the measurement of financial performance.(3 marks)
Note: requirement (a) includes 4 professional marks.A central feature of the performance measurement system at TSC is the widespread use of league tables that displayeach depot’s performance relative to one another.Required:(b) Evaluate the potential benefits and problems associated with the use of ‘league tables’ as a means ofmeasuring performance. (6 marks)
(c) Outline the ways in which Arthur and Cindy can reduce their income tax liability by investing in unquotedshares and recommend, with reasons, which form. of investment best suits their circumstances. You are notrequired to discuss the qualifying conditions applicable to the investment vehicle recommended. (5 marks)You should assume that the income tax rates and allowances for the tax year 2005/06 apply throughout thisquestion
(ii) Advise Andrew of the tax implications arising from the disposal of the 7% Government Stock, clearlyidentifying the tax year in which any liability will arise and how it will be paid. (3 marks)
