漫漫考试路，各位考生，您准备好了吗？如何快乐高效的学习？高顿网校为广大学员提供2015年USCPA考试网络课程，请各位考生紧跟网校名师的步伐尽快进入备考复习，让高顿与您共同努力，2015年考试顺利通过！祝您梦想成真！免费听课>>
　　Example 1：
　　Carolyn Johnson, the chairman of the compensation committee of the board of directors of York Corporation, is concerned about the incentives that exist in the current compensation system for management of the company. Currently, the compensation program is absolutely cash-base. Currently the committee is considering to transit to a new compensation system.
　　Supposed you are hired as a new HR manager, prepare a memorandum explaining the risks in current compensation system and distinctions between current and future compensation system.
　　例题解析：
　　这道题目中指出了企业现存的激励体制存在弊端。现在完全是基于现金的激励体系(cash-based compensation program)，现在正在考虑转换成另外一种薪酬体系。在题干的第二段列示了范文的要求，需要解释现有薪酬体系中存在风险并且指出现有的和改进之后的薪酬体系的区别。
　　根据题干的内容，可以基本划分出论述的结构。首先，需要指出现有的薪酬体系的弊病，其次，需要指出合理的薪酬体系的特征，即future compensation system的要求。当分别阐明两者之后，再简略论述区别即可。
　　Cash-based compensation system*5的弊端在于无法使得管理层的利益和股东利益达成一致(inability to align the interests of management with that of common share holders). 如果基于现金的薪酬体系最常见的激励工具是salary和bonus. 纯固定的薪资会使得管理层不愿意去承担更多的风险，而基于net profit的bonus则会使管理层承担过多风险，并且管理层会倾向于去操纵会计利润以提高自己能获得的bonus。所以，基于长期的业绩的薪酬体系是适当的。在这种薪酬体系中，管理层的薪酬将由现金和股份组成，股份往往采用股票期权的形式，管理层无法在短期之内行权该股票期权。这种方法使管理层去考虑提高公司的长期业绩和表现，提升股价。
　　范文：
　　To Carolyn Johnson:
　　You have requested that I provide you with information about the inherent risk of your current compensation system and the distinctions between your current system and your future one.Your compensation system currently is absolutely based on cash. A cash-based compensation system involves mainly fixed-payment salaries and net-profitbased bonuses. Fixed-payment salaries would drive management to take little risk in operations, and net-profit-based bonus would drive management to manipulate financial statements and take short-term interests and ignore long-term benefits for the company. Therefore, risks inherent in your compensation system rest with the lack of alignment in management behavior with objectives of shareholders.I advise that your new compensation system should consider incorporate stock-based incentives in your current compensation system. A good example is stock option. The biggest distinctions between current compensation system and the new one is that stock option provides management with an incentive to manage the corporation to increase the stock price, which is consistent with the goal of shareholders. However, the vesting period should be sufficiently long in order for long-term stock value rather than short-term. If you have more concerns about the incentive system, please feel free to contact me at ***@yahoo.com.
　　关于2015年USCPA考试还有其他问题？别怕，高顿网校小编在这里为你量身定做“USCPA考试常见问题解析”，一定让你了解地清清楚楚。点击查看详情>>
　　小编语录：努力和效果之间，永远有这样一段距离。成功和失败的*10区别是，你能不能坚持挺过这段无法估计的距离。