楷博名师花式解读：ACCA P5 “Kaizen Costing”
acca f5公式,值得收藏!!!
ACCA F5公式大全，值得收藏！！！ACCA小编给大家总结了整个ACCA F5所需要的公式，希望对大家ACCA考试有所帮助。
Part A Costing Techniques1、O.A.R CalculationO.A.R=Estimated production overheads/Estimated activities levels2、Difference between margin and mark-up calculationMargin:Cost(80%)+targeted profit(20%)=Selling price(100%)Mark-up:Cost(100%)+profit(20%)=selling price(120%)3、Cost GapEstimated cost–Target cost4、Throughput calculationThroughput=Sales revenue-Direct material costs5、Throughput accounting ratioThroughput per factory hour(usually in unit)=(Sales-direct material costs)/bottleneck hour(factory hour)per unitFactory cost per factory hour(usually in total)=Total factory cost/total bottleneck(factory)hourThroughput accounting ratio(TPAR)=Throughput per bottleneck hour/factory cost per bottleneck hourPart B Decision-making techniques1、Break-even analysis and CVPBreak-even point=Fixed cost/contribution per unitContribution/sales ratio=contribution per unit/selling price per unit,also called C/S ratioBreak-even revenue=Fixed cost/c/s ratio or Break-even point*selling price per unitMargin of safety=Budgeted sales-breakeven salesMargin of safety(%)=(Budgeted sales-Breakeven sales)/Budgeted salesSales volume to earn a required profit=(Required profit+Fixed costs)/contribution per unit2、Multi-product break-even analysisWeighted average C/S ratio=Total contribution/Total revenueBreakeven point=Fixed cost/weighted average unit contributionSales revenue to earn a required profit=(Required profit+Fixed cost)/Weighted average c/s ratio Margin of safety(%)=(Budgeted sales-breakeven sales)/Budgeted sales3、Price elasticity of demandPrice elasticity of demand=changes in quantity,as a%of demand/changes in price,as a%of price If the%change in demand>the%change in price,then price elasticity>1If the%change in demand<the%change in price,then price elasticity<14、Marginal revenueMR=a-2bQMarginal cost=Marginal revenue to achieve the profit maximizationQ=a/2b,then the revenue will be maximized.5、Expected valueEV=∑pxA useful method for risk neutral decision maker6、Value of information(VOI)Part C Budgeting and control1、High-low methodVariable cost/unit=(Cost at high level of activity-cost at low level activity)/(High-level activity-Low-level activity)2、Learning curveY=aX^ba is the time taken to produce the first unitX is the cumulative number of unitsB is the index of learning(log LR/log2)LR=the learning rate as a decimal3、Advanced variance analysisPart D Performance1、Measuring profitabilityROCE=Net profit/Capital employed*100%ROCE=Net profit margin*asset turnoverNet profit margin=Net profit/Turnover*100%Gross profit margin=Gross profit/Turnover*100% Asset turnover=Turnover/capital employed2、Measuring liquidityCurrent ratio=current assets/current liabilityQuick ratio=(current assets-inventory)/current liabilities Inventory holding period=Inventory/cost of sales*365 Receivable collection period=Receivables/turnover*365 Payables period=Payables/purchases*3653、Measuring riskFinancial gearing=Debt/Equity or Debt/(Debt+equity) Interest covering ratio=PBIT/Financial costDividend covering ratio=Net profit/Dividend4、Return on investmentROI=controllable profit/capital employed5、Residual incomeRI=Controllable profit-notional interest on capital。
acca pearl 法则
acca pearl 法则ACCA PEARL法则是一种管理会计中常用的记忆法则，用于帮助记忆管理会计中的成本分类。
每个字母都代表一个特定的成本分类，以便帮助记忆。
下面我会详细介绍每个字母代表的含义：A 活动成本（Activity Cost），指与特定活动相关的成本，例如生产线上的工资成本或者机器维护成本。
C 一般成本（Common Cost），指不属于任何特定产品或部门的成本，如管理人员的薪水或者总部的租金。
C 客户成本（Customer Cost），指直接与客户联系和服务相关的成本，例如客户服务人员的薪水或者市场推广费用。
A 产品成本（Product Cost），指直接与产品生产相关的成本，如原材料成本、直接人工成本等。
P 制造成本（Production Cost），指与产品制造和生产过程相关的成本，包括原材料成本、直接人工成本和制造费用。
E 企业成本（Enterprise Cost），指与整个企业经营相关的成本，如总部管理费用、财务费用等。
A 活动成本（Activity Cost），同第一个A一样，指与特定活动相关的成本，例如生产线上的工资成本或者机器维护成本。
R 资源成本（Resource Cost），指企业使用的资源所产生的成本，如原材料、劳动力等。
L 生命周期成本（Life-cycle Cost），指产品或项目从设计阶段到报废阶段的全部成本，包括生产、销售、运营、维护等。
这些成本分类可以帮助管理会计人员更好地理解和管理企业的成本结构，从而做出更明智的决策。
ACCA PEARL法则是一个简单而实用的记忆工具，有助于加深对成本分类的理解。
希望这个解释能够帮助你更好地理解ACCA PEARL法则。
ACCA F5知识点：Marginal cost and Absorption cost
ACCA F5知识点：Marginal cost and Absorption cost今天给大家说一下ACCA F5科目中关于marginal cost和absorption cost，其实这个知识点我们在F2的时候就已经学习到了，今天再给大家来整理一下。
Marginal cost means the cost of one unit of a product which could be avoided if that unit were not produced. 这里还有一个contribution的知识点，contribution means the difference between sales value and the variable cost of sales. 对于marginal cost，这里有两个原则，一个是a principle whereby production costs only are charged to cost units and the fixed costs attributable to the relevant period are written off in full against the contribution for the period; 第二个是inventory is valued at variable cost of production.对于marginal cost，有一个计算顺序：Cost cardSales XVariable cost(X)Contribution XFixed cost(X)Profit X关于absorption cost的原则，when use absorption costing technique, we look at the production costs only. i.e. direct material, direct labor, variable production overheads and fixed production overheads. The cost card can be summarized as below:Direct materials per unit XDirect labor per unit XProduction overhead per unit XFull production cost per unit XIt is easy to estimate direct materials per unit and direct labor per unit. However, it is much more difficult to estimate the production overhead per unit because production overheads an indirect cost, which by its nature, we do not know how much it contained in each unit. Therefore, we need a method to estimate the production overheads to each unit. All production overheads must be absorbed into units of production, using a suitable basis.好，关于marginal cost和absorption cost就和大家先说到这。
ACCA F5 考前Tips：考试重点及答题技巧(下)
ACCA?F5?考前Tips：考试重点及答题技巧（下）书接上回，今天继续带大家来看看F5部分重点题型的答案解析。
Part?three?????????????????????????????????????????????????部分重点题型的答案解析（摘选近年来的重点难点考试真题）(2016?New?Type-Sample新题型样卷)?选择题1?A?companymanufactures?two?products,?C?and?D,?for?which?the?following?information?isavailabl e:’What?is?the?expected?annual?residual?income?of?the?initial?investment?Solution:??RI?=Divisional?profit?after?depreciation-?Imputed?interest???=?($2.7m?x?15%?-?$2.7m?x?1/50)?-$2.7m?x?7%?=?$162,000注释：?RI的重要变量是可控利润(本题叫做Divisionalprofit?after?depreciation)来源于网络controllableprofit用来衡量子公司通过可控行为而产生的利润（即需要剔除总部摊销费用，以及其他不可控因素对子公司利润的影响）本题很明显：?子公司可以自主决定（控制）设备的投资，随后的折旧就是‘可控'费用?2?The?FruitCompany?(F?Co)?currently?grows?fruit?which?customers?pick?themselves?from?thefields ?before?paying.?F?Co?is?concerned?that?a?large?number?of?customers?areeating?some?of?the?frui t?whilst?picking?it?and?are?therefore?not?paying?for?allof?it.?As?a?result,?it?has?to?decide?whether ?to?hire?staff?to?pick?andpackagethe?fruit?instead.?The?following?values?and?costs?have?been?ide ntified:Solution:"招收员工"则，?at?the?target?costD?Itidentifies?different?markets?for?a?product?and?then?sells?that?same?product?atdifferent?prices ?in?each?marketSolution:?难度很低，考了目标成本法基本概念:?从市场接受的价格出发，减去目标利润空间，得到目标成本4?The?MobileSandwich?Co?prepares?sandwiches?which?it?delivers?and?sells?toemployees?atlocal?businesses?each?day.来源于网络Demandvaries?between?325?and?400?sandwiches?each?day.?As?the?day?progresses,?theprice?of?th e?sandwiches?is?reduced?and,?at?the?end?of?the?day,?any?sandwichesnot?sold?are?thrown?away.? The?company?has?prepared?a?regret?table?to?show?theamount?of?profit?which?would?be?foregon e?each?day?at?each?supply?level,giventhe?varying?daily?levels?of?demand.Applying?the?decision?criterion?of?minimax?regret,?how?many?sandwichesshould?the?company?de cide?to?supply?each?day?????????????A325;??B?350;??C375;??D?400?注释：上图不是Solution:y’(ii)Inventorylevels?have?increased?and?this?may?have?contributed?to?the?decline?inthecompany’s?quick?ratioWhich?of?the?above?statements?is/are?true?A(i)only;??B?(ii)?only;??C?Both?(i)?and?(ii);??D?Neither?(i)?nor(ii)注释：考生对(ii)普遍疑惑.?说明对速动比率的计算公式都掌握不好:?该比率在分子剔除了存货余额，即：存货的变动对这个比率没有影响.来源于网络(2015?Jun)?1.?Beckley?Hill???(ABC)1?Beckley?Hill?(BH)?is?a?private?hospitalcarrying?out?two?types?of?procedures?on?patients.?Each?t ype?of?procedure?incursthe?following?direct?costs:BHcurrently?calculates?the?overhead?cost?per?procedure?by?taking?the?totaloverhead?cost?and?si mply?dividing?it?by?the?number?of?procedures,?then?roundingthe?cost?to?the?nearest?2?decimal? places.?The?total?cost?is?$2,475.85?forProcedure?A?and?$4,735.85?for?Procedure?B.Recently,anotherlocal?hospital?has?implemented?activity-based?costing?(ABC).?This?has?led?thefina nce?director?at?BH?to?consider?whether?this?alternative?costing?techniquewould?bring?any?benefi(没有问来源于网络。
ACCA P5 重要知识点总结
REWARD SCHEMES FOR EMPLOYEES AND MANAGEMENTA major part of performance management involves managing employees and managers, as their performance will have a major effect on the performance of the organisation as a whole. This article looks at how reward schemes can be used to influence the behaviour of employeesMEANING OF REWARD SCHEMESA broad definition of reward schemes is provided by Bratton:‘Reward system refers to all the monetary, non-monetary and psychological payments that an organisation provides for its employees in exchange for the work they perform.’Rewards schemes may include extrinsic and intrinsic rewards. Extrinsic rewards are items such as financial payments and working conditions that the employee receives as part of the job. Intrinsic rewards relate to satisfaction that is derived from actually performing the job such as personal fulfilment, and a sense of contributing something to society. Many people who work for charities, for example, work for much lower salaries than they might achieve if they worked for commercial organisations. In doing so, they are exchanging extrinsic rewards for the intrinsic reward of doing something that they believe is good for society.OBJECTIVES OF A REWARD SCHEMEWhat do organisations hope to achieve from a reward scheme? The following are among the most important objectives:1. To support the goals of the organisation by aligning the goals of employees with these.2. To ensure that the organisation is able to recruit and retain sufficient number of employees with the right skills.3. To motivate employees.4. To align the risk preferences of managers and employees with those of the organisation.5. To comply with legal regulations.6. To be ethical.7. To be affordable and easy to administer.ALIGNING THE GOALS OF THE ORGANISATION AND EMPLOYEESThe reward scheme should support the organisation’s goals. At the strategic level, the reward scheme must be consistent with the strategy of the organisation. If a strategy of differentiation is chosen, for example, staff may receive more generous benefits, and these may be linked to achieving certain skills or achieving pre determined targets. In an organisation that has a strategy of cost leadership, a simple reward scheme offering fairly low wages may be appropriate as less skilled staff are required, new staff are easy to recruit and need little training, so there is less incentive to offer generous rewards. The US supermarket group Walmart competes on low cost. It recruits employees with low skills, and pays low wages. It discourages staff from working overtime, as it wishes to avoid paying overtime rates.TO RECRUIT AND RETAIN SUFFICIENT EMPLOYEES WITH THE RIGHT SKILLSIf rewards offered are not competitive, it will be difficult to recruit staff since potential employees can obtain better rewards from competitors. Existing staff may also be tempted to leave the organisation if they are aware that their reward system is uncompetitive.High staff turnover can lead to higher costs of recruitment and training of new staff. Losing existing employees may also mean that some of the organisation’s accumulated knowledge is lost forever. For many knowledge-based organisations, the human capital may be one of the most valuable assets they have. High technology companies such as Microsoft are companies that trade on knowledge, so offer competitive remuneration to key staff.TO MOTIVATE EMPLOYEESMotivation of employees is clearly an important factor in the overall performance of an organisation. Organisations would like their employees to work harder, and be flexible. The link between reward schemes and motivation is a complex issue that is hotly debated in both accounting and human resource-related literature.A well-known theory relating to motivation is Maslow’s hierarchy of needs. Maslow stated that people’s wants and needs follow a hierarchy. Once the needs of one level of the hierarchy are met, the individual will then focus on achieving the needs of the next level in the hierarchy. The lower levels of the hierarchy are physiological, relating to the need to survive (eg eating and being housed); once these have been met, humans then desire safety, followed by love, followed by esteem, and finally at the top of the hierarchy, self actualisation, or self fulfilment.Applying Maslow’s hierarchy of needs to reward schemes suggests that very junior staff, earning very low wages will be motivated by receiving higher monetary rewards, as this will enable them to meet their physiological needs. As employees become progressively more highly paid, however, monetary rewards become relatively less important as other needs in the hierarchy, such as job security, ability to achieve one’s potential, and feeling of being needed become more important.Herzberg argued that increasing rewards only motivates employees temporarily. Once they become de-motivated again, it is necessary to ‘recharge their batteries’with another increase. A far better way to motivate employees is to ‘install a generator in an employee’ so they can recharge their own batteries; in other words to find out what really motivates them. According to Herzberg, it is the intrinsic factors in a job that motivate employees, such as ‘achievement, recognition for achievement, the work itself, responsibility and growth or advancement.’ Giving greater responsibility to employees, for example, can increase motivation.Perhaps the conclusion to be gained from this is that monetary rewards alone are insufficient to motivate employees. Other factors such as giving greater recognition and greater responsibility may be equally important, for example giving praise at company meetings, promoting staff, and involving staff more in decision making.ALIGNING THE RISK PREFERENCES OF MANAGERS AND EMPLOYEES WITH THOSE OF THE ORGANISATIONManagers and senior employees make decisions on behalf of the company, acting as agents of the company. It is desirable that the risk preferences of these employees should match the risk preferences of the organisation and its stakeholders. One problem with many reward schemes is that managers are too risk averse, and will not make investments that may risk their targets not being met.The events leading up to the financial crisis of 2008 are a good example of the opposite situation, where the risk appetites of employees at investment banks did not match the risk appetites of the owners. During this period, individuals working in the banks were paid large commissions for selling mortgage loans to customers. The problem was that the employees were selling loans to customers that posed a large risk to the banks, due to their low credit worthiness.The problem was confounded by the fact that in many cases, the employees of the banks were paid commissions on the date that the loan agreements were signed, while the loans lasted for 25 years. In situations where the borrower defaulted, however, there was no claw back, so the employee would not be required to repay the commission.Many countries have put in place new laws and codes to change this situation. In the UK for example, the financial services authority introduced a code whereby remuneration structures should be based on sound risk management practices, incentive payments should be deferred over a number of years, and there should be claw back provisions whereby employees are required to repay bonuses in the event that the longer term results of their actions leads to similar problems experiences in the financial crisis.Share options may also create a miss-match between the risks faced by the organisation and the risks faced by the holders of the options, since the holders benefit if share prices increase, but do not bear any losses if the share price falls. Share options are discussed in more detail later in this article.COMPLYING WITH LEGAL REGULATIONSRewards should comply with legal regulations. Typically, employment laws include areas such as minimum pay, and equal pay legislation to ensure that no groups are prejudiced against. There have been high profile cases of female investment bankers winning legal cases against their employers because their bonuses were far less than those paid to male colleagues.ETHICS AND REWARD SCHEMESIn recent decades there has been a move away from fixed remuneration systems towards reward systems where at least part of an employee’s rewards are based on performance of the individual and the business as a whole. Some writers claim that this is unethical for two reasons. First, such systems tend to place increased business risk onto employees. Second, such systems undermine collective bargaining systems, and reduce the power of unions. This leads to a situation where employees as a collective have less bargaining power.The size of total remunerations paid to directors of large public companies has also become a hot political issue, with a perception that the gap between top earners, and average earners is becoming larger. In the US, the average directors of S&P 500companies earn 200 times more than the average household income in the US. Defenders of such large differences in pay point out that this difference has actually declined in recent years; in the year 2000, directors of S&P 500 companies earned 350 times the average household income. According to some research, such high packages are justified as they do reflect the performance of those directors.AFFORDABLE AND EASY TO ADMINISTERIt is an obvious fact that there is an inherent conflict of interest in the relationship between employer and employee. The employee’s rewards represent a cost to the employer, which the employer wants to minimise. Clearly whatever reward scheme is in place, it must be affordable to the employer.TARGET SETTINGMany reward schemes are based on employees achieving pre-determined targets, so some consideration of target setting is required.In Fitzgerald and Moon’s building block’s model, three principles are given when setting standards or targets: equity, ownership and achievability. Equity in this context means fairness; when setting targets for the various managers, those targets should be equally challenging. Ownership means that the targets should be accepted and agreed by those managers for whom they are set. This can usually be achieved by participation. Finally targets must be achievable; otherwise the employees for whom they were set will become demotivated.The building block’s model then goes on to specifically cover reward schemes. It states that there are three principles of a good reward scheme. First, there should be clarity – it should be clear how the reward scheme works. If your boss tells you that you will receive a bonus at the end of the year ‘if you do a good job,’that is not very clear, since the boss has not specified what doing a good job means. Rewards should be motivational. Finally there is the important controllability principal. Employees should only be judged and rewarded based on things within their control. This is why profit-related pay might not be relevant to a junior administrative assistant, for example.Hope and Fraser warn against the use of linking rewards to fixed performance targets, as this leads to gaming. In particular, managers whose rewards depend on fixed targets may be tempted to ‘always negotiate lowest targets and highest rewards,’ which suggests that management plans will understate the potential that the organisation can make. ‘Always make the bonus, whatever it takes,’ is another example of gaming suggested by Hope and Fraser, which suggests that managers may indulge in unethical behaviour such as fraudulent accounting in order to ensure that targets are met.Hope and Fraser suggest divorcing the planning process and the target setting process, and basing rewards on relative targets and benchmarks. A relative target might be market share, for example, where rather than setting an absolute target for a sales manager, a market share (%) target is provided. If the market rises, then more is expected in absolute terms. This adds to controllability, since the sales manager could not be held responsible for a rise (or fall) in the overall market, which is outside of his control, but would be able to control whether or not heachieves the expected share of the market.TYPES OF REWARD SCHEMEBase pay Base pay, or basic pay, is the minimum amount that an employee receives for working for an organisation. For example, the employee may be paid $10 per hour for a minimum of 40 hours per week. The employee will therefore earn at least $400 per week. This will be paid regardless of how many of those 40 hours the employee is actually working. A fixed annual salary is another example of basic pay.Basic pay may be supplemented by other types of remuneration. A blue collar worker may be paid overtime for example if he works more than 40 hours per week, and a manager may receive some form of performance pay in addition to the base pay. Basic pay is likely to address the lower levels of Maslow’s hierarchy of needs mentioned above.Performance-related pay Performance-related pay is a generic term for reward systems where payments are made based on the performance, either of the individual (individual performance-related pay) or a team of employees (group performance-related schemes).In recent decades there has been a move toward performance-related pay schemes in many organisations. This has lead to a situation where a higher portion of the employees pay is dependent on performance. This rationale for performance-related pay is that it motivates employees to work harder, and rewards those who make a greater contribution to the organisation’s goals. This should lead to efficiency savings. There are many types of performance-related pay, and the most popular ones are described below:1. Piecework schemes Under Piecework schemes, a price is paid for each unit of output. Piecework schemes are the oldest form of performance pay, and were used for example in the textile industries in Great Britain during the industrial revolution. Piecework schemes are appropriate where output can be measured easily in units. They are typically used for paying freelance, creative people. Freelance writers for example are often paid based on the number of words.The benefit of piecework schemes is their inherent fairness. The higher the output, the more the employee (or subcontractor) receives. From the employer’s perspective, the employer does not have to pay for idle time or inefficiencies.From the employee’s perspective, such schemes mean that the employee bears commercial risk if demand for their product falls.A further disadvantage of piecework schemes is that the payment is not based on the quality of output. However, some sort of quality control is likely, and if the quality is not of a required standard, the employee or subcontractor will not be paid.2. Individual performance-related pay schemes Individual performance-related pay schemes are where the employee receives either a bonus, or an increase in base pay on meeting previously agreed objectives or based on assessment by their manager, or both. They are typically used for middle managers in private sector organisations and for professional staff.The advocates of individual performance-related pay schemes claim that theirthey are an obvious way to align to objectives of middle managers with the goals of the organisation. If performance targets set are based on the goals of the organisation, then it appears obvious that making part of the rewards of employees’contingent on achieving those targets will mean that employees are motivated to achieve the goals of the organisation.Individual performance-related schemes also have the advantage over group schemes that the employee has control over her rewards, as they do not depend on the effort (or lack of) of other members of the team.Critics of such schemes point out that the link between rewards and motivation is far from clear, as discussed above. It is also argued that performance-related schemes lead a situation of tunnel vision whereby if something is not measured, and then rewarded, it won’t get done.Individual reward schemes may lead to a lack of teamwork and may lead to variances in pay among individuals, which can lead to ill feeling.An example of an individual performance-related pay scheme is one that is operated by a UK bank. Under the scheme, a bonus pool is allocated to each region based on the performance of that region. From this pool, individual awards are made based on assessment of performance, taking into account the rating on a five-point scale. Those with scores of 1 to 3 qualify for a discretionary bonus. The assessment depends on how much new business the individuals have brought in, or how much efficiency savings they have generated. The rewards are usually paid in cash, although for senior employees receive a portion as deferred stock.3. Group-related performance-related pay schemes Group-related performance-related schemes are similar to individual, in that rewards are paid based on the achievement of targets. However the targets are set for a group of employees, such as a particular department, or branch of a company, rather than for an individual. Since the rewards apply to a group, they are likely to be based on a pre-determined quantitative formula, rather than on assessment of staff.A bonus pool is calculated based on the performance of the team, and this is shared among the members of the team. Bonuses may be paid up at the end of the year, or may be deferred, and paid at a later date, as this may encourage staff and managers to take a longer term view, rather than simply focusing on the current year’s bonus.The advantage claimed for group schemes is that they encourage teamwork. The disadvantage is that the lazier members of the team benefit from the hard work of the more dedicated.Hope and Fraser give the example of a scheme operated by Svenska Handelsbanken, where each year, a portion of the banks profits are paid to a profit sharing pool for employees, provided that certain conditions are made. The main conditions are that the Handelsbanken Group must have a higher return on shareholder’s equity than the average of its peer group. The upper limit of the amount paid into the scheme is 25% of the total dividends paid to shareholders. Employees do not actually receive anything from the pool until they reach the age of 60, at which point they receive a pay out based on the number of years that they have worked for the bank. The CEO of Handlesbanken claimed that employees are not motivated by financial targets, butby the challenge of beating the competition. The reward scheme is designed to bea dividend on their intellectual capital.4. Knowledge contingent pay Knowledge contingent pay is where an employee will receive a pay rise or a bonus, or both, for work-related learning. An ACCA candidate, for example, may receive a higher salary once he has passed all the knowledge level papers, and an even higher salary after passing all of his exams.5. Commissions Commissions are a form of remuneration normally used for sales staff. The staff may receive a low basic pay, but will then receive commission, based on a percentage of the amount of their sales.The advantages of commission are that they should motivate sales staff to achieve higher sales, as their rewards depend on it, and they mean that the large part of the salesman’s salary becomes variable. If sales are low, the organisation will have to pay less.The disadvantage of commission is that it may lead to dysfunctional behaviour. Sales staff may indulge in window dressing, for example to meet this years sales target, by selling on a ‘sale and return basis’ in the final month of the year, with the inherent understanding that the goods will be returned in the following month of next year. They may also lead to short termism, where sales staff ‘never put the customer above the sales target’ to quote Hope and Fraser.6. Profit-related pay Profit-related pay is a type of group performance-related pay scheme where a part of the employee’s remuneration is linked to the profits of the organisation. If the company’s profits hit a pre-determined threshold, a bonus will be paid to all members of the scheme. Typically the bonus will be a percentage of the basic pay. The bonus may be paid during the year in question; for example, quarterly, or it may be deferred until some later date, such as the retirement of the staff.Advocates of profit-related pay argue that it motivates employees to become more interested in the overall profitability and therefore become more motivated to ‘do their bit’ to improve it. It may also encourage loyalty in cases where staff may lose their bonus if leaving the organisation means that they lose the right to it.The obvious disadvantage with profit-related pay is that it does not match the primary objective of commercial organisations, which is to maximise the wealth of the shareholders. Managers may be motivated to increase profits by taking short-term actions that will harm the business in the long run, for example, or destroy wealth by investing in projects that increase the profits of the organisation, but produce a return that is below the cost of capital of the organisation.Profit-related pay might not be a motivator for junior employees, who may fail to see the link between their effort and the overall profits of the organisation.7. Stock option plans Stock option plans have become very popular since the 1990s, when greater emphasis started to be given to shareholder value. Under stock option plans, staff receive the right to buy shares in their company at a certain date in the future, at a price agreed today.For example, Alpha Co is listed on the stock exchange of Homeland. Today, shares in Alpha Co are trading at $100 each. The company has just awarded the CEO of AlphaCo the option to buy 1 million shares for $100 each in exactly ten years time. These options have no intrinsic value at the granting date.If the share price rises to say $200 in 10 years time, the CEO could exercise his options, buying 1 million shares at a price of $100 each. Since the shares would be worth $200 each by then the CEO would make a gain of $100 per share, or $100m in total.Stock option plans are most appropriate for the senior management of organisations as they are the people who have the most influence over its share price. The rational for using stock option plans is that they align the objectives of the directors with the objectives of shareholders. If the share price rises, the senior management benefit because their options increase in value. Thus senior managers will start to think like investors.The big weakness of stock option plans is that share prices may depend on external factors as much as on the performance of the directors. During the bull markets of the 1990s and 2000s, many companies share prices rose simply because the market rose.Another weakness is risk misalignment. Share options reward managers if the share price goes up. If the share price falls, however, there is no difference in reward between the share price remaining the same ($100) and falling to ($1) – so managers may be motivated to take extreme risks where the exercise price may not be met.What shareholders really want is the performance of their company to be better than the market. One solution to this is to use an indexed exercise price, where the price at which the director can buy the shares is equal to the current market price, plus the increase in the stock market index between the date that the options are issued, and the exercise date. This means that the share option reflects the controllability principlemore closely, as directors would not be rewarded for rises in the stock market in general.PENSION SCHEMESDefined benefit pension schemes used to be a popular form of reward. Under such schemes, the employee pays a pension to former employees based on their final salary, and the number of years that the employee worked for the organisation. A typical example is that the former employee receives 1/60ths of their final salary for every year of service. An employee who works for 40 years for the same organisation would therefore receive a pension equal to 40/60ths of their final salary from the date of retirement to the date of death.Defined benefit schemes leave organisations with an uncertain, often large liability, and for this reason, many organisations have now discontinued such schemes.Defined contribution schemes are another form of pension scheme where the employer pays a certain percentage of the employee’s salary into an account for the employee in a pension ‘pot.’ The employee may also have the option of making additional voluntary contributions into this pension pot. The pension pot is theninvested, and the employee receives whatever is in their account on retirement. In some countries, employees may be required to use what is in the pot to buy an annuity, which pays them a fixed income for the rest of their lives.Many countries offer tax incentives for such pension schemes, such as allowing employees to reduce their taxable income by the value of contributions made to the schemes.BENEFITS IN KINDBenefits in kind (or indirect pay) are paid to employees in addition to their base salary and performance-related pay. Benefits in kind include items such as health insurance and meal vouchers. They are usually provided to more junior staff in order to provide additional incentives at a lower cost. They are often used as a form of recognition, so the employee of the month for example will be given a benefit rather than a cash payment.The advantage of benefits in kind is that greater flexibility can be given in designing a reward scheme for an individual.‘Cafeteria’ schemes have also become popular, whereby employees are told that they may select benefits from a menu up to a certain value. The advantage of this is that employees will select the benefits that they value most. Benefits from which the employees can choose typically include such items as health insurance, holiday vouchers, company cars or sports vouchers.Cafeteria schemes may be difficult to administer. Staff may also find them complex to understand, as they will have to select a number of benefits that have a value that is within the agreed limit.ESTABLISHING THE LEVEL OF BENEFITSHow much should employees be paid? Two factors need to be taken into account here. First, competitiveness, and second internal equity.As already mentioned above, unless the level of pay is competitive, it will be difficult to recruit and retain the right number of skilled employees. If it is too much, the cost to the organisation will be too high. Here the organisation will compare its pay levels with competitors. Such information may be available from job adverts in newspapers or on the Internet, or from recruitment consultants.Internal equity relates to the pay differentials within the organisation itself. Staff will become demotivated if they feel that the remuneration system is ‘unfair’and that other people are being paid more generously. Job evaluation techniques are used that try to determine the value of a specific job to the organisation. Based on this, the level of rewards for that particular position will be determined.THE ROLE OF APPRAISAL IN REWARD SYSTEMSMany of the performance-related reward schemes depend on the performance of the employees. As such, the employees’ performance has to be assessed. This usually takes place during the appraisal process. Staff will be assessed on a regular basis, for example twice a year. During the appraisal, targets will be set for the next period, and rewards agreed if the targets are met.CONCLUSIONA good reward system aims to motivate employees to work harder, and align their。
如何吃透ACCA APM(P5) 的知识结构图？
如何吃透ACCA APM（P5）的知识结构图？背景介绍：我是ACCA P5老考生，工作中备考，屡次不过，最终得益于徐开金老师的P5网课，于2016.12顺利通过。
这里我想讲讲自己在备考过程中的体会和想法，希望能够对考生朋友们有所帮助。
文章适用人群：我对英文的阅读理解还可以，但做题相对较少，缺乏对知识体系的整体把握。
再加上屡次不过，心态会发生变化。
备考过程：屡次考P5失利后，我开始在网上搜索靠谱的培训机构，于是就知道了许多学生口中的P5救星徐老师，同时也听说了他的知识结构图和有名的做题八步法。
私心觉得，老师还是很有分享精神的，毕竟这些资料都是个人成果，他愿意免费共享给大家，也是老师的诚意。
P5的那张知识结构图虽然看起来简单，但却是P5所有知识点的内在逻辑，如果没有对基础知识良好的把握，仅仅看图的作用也是非常有限。
所以鉴于备考时间紧张，我没怎么犹豫就直接报名了老师的课程。
1.复习的第一步就是把徐老师总结的P5知识结构图“吃透”。
那么如何吃透呢？形式上的做法就是：自己画一遍，搭配老师的讲解在图中标注要关注的点，然后把这张纸摆在书桌上，随时随地的看，直到这个体系图深深的刻在你的脑子里；从实质性来讲，这个图就是散文中的神（老师在讲课中也如此提到过），此后你学到的每一个知识点，你都要往图中去对应，同时关注知识点彼此之间的联系，再到后面的做题，题中涉及到的内容，你都要配合着图来理解。
长此以往，你就会对P5的知识体系有相对完整的概念，这对于备考至关重要。
2.我做的第二步就是过老师的网课。
其实P5的课程性质决定了它的知识点需要结合实践去理解和掌握，因此老师在他的网课中也举了很多例子来方便大家理解与记忆。
我希望大家在时间充裕的情况下能将老师的网课过两遍，其实就像听故事一样，很多东西你听懂了，自然体会就深刻了。
与此同时，我将讲义中的大小标题统统抄下来，略去具体内容，只抄写提纲，偶尔会根据老师的提示做些关键性重点的笔记。
ACCA F5考前Tips：考试重点题型解析(上)
ACCA F5考前Tips：考试重点题型解析（上）读完这个东西只需要30分钟，但是做完这个东西拟定的任务需要7天。
但是，正好来得及~拿去！一包干到发燥的，点火就着的干货！Part oneGeneral causes of failure in F5 Exam做题顺序从考后的问询调查来看，相当一批学生一开始就选择攻克后面的大题: 手忙脚乱的先做完大题，发现只有20分钟来做前面的选择题了，因此闭上眼睛勾选，这基本等于自寻死路：不管难易，分值一样。
考试是现实而残酷的游戏，只会以成败论英雄。
要和我煮酒论英雄？我们考完试先！➤Tip: 请先完成SectionA, Section B的选择题, 这是性价比最高的两个部分.时间管理这个是通病，很多同学花时间在他们会做的题目上，跳过不会做的题目...另一位同学的留言: 通宵背了Advanced variance的公式，发现在选择题中用上了，兴奋得两眼放光，一个饿虎扑食，以难分难舍之势跟这个题浪了6分钟！交卷之前不放心，又花了3~4分钟重新验算的一遍！！哥！你对我是真爱，但是我只值2分！本来3.6分钟的事情你花了8分钟！你效率真高！➤Tip: 考前必须最少做10套真题，考前两天最少再做2套历史真题(严格控制时间)生僻考点本次出现了ROLLINGBUDGET的大题. 这个知识点属于常规低频考点（即：授课必讲，但出现在大题的概率不高, 最近一次是2012年12月的Designit Co). 虽然比较生僻，但是知识点覆盖极其常规，一定是Definition(What),Suitability (how), Advantage and Disadvantage (why).按照这个吃遍天下的套路，哪怕只是有模糊印象, 如果可以将这些印象和案例内容结合论述一下, 估计会有30%~40%的有效分。
但是我们一看到这种长得比较陌生的题，第一秒想到的居然不是知识，而是放弃！于是完全不下笔的童鞋很多!你不抓分，分不会从天上掉下来。
ACCAF5题型归类-costing
ACCAF5题型归类-costingABC1. compare the overhead allocations between the traditional methodsand ABC and explain the changes 【in practical issues 】●whether the allocations have changed a lot : overheads may be dominatedby one cost of which the cost driver is still the traditional basis (eg: labour hours) , thus no significant difference will result from this change●the major effect may be for one cost which carry a relatively highproportion of the quality control cost.●Some overheads may cause little change seemingly, but it hides the verybig difference in treatment, even though the proportion of this cost is minor .Review each of the overhead cost items in turn in terms of proportions in total overhead value, proportions of cost driver numbers2. discuss the reasons why ABC is more suitable in the modernmanufacturing environment than traditional methods 【in theory 】●traditional methods allocate overheads based on some volume-relatedmeasure of activity●in traditional business, indirect costs constituted a relatively smallproportion of total product costs●in modern manufacturing environment, indirect costs constituted arelatively high proportion of total product costs. 【shorter and more frequent production runs which increases the frequency of production line set-ups ; wide-spread use of computer control and automation in place of direct labour ; increase use of JIT and customer-led manufacture which lead to quality control costs and production planning costs forming a higher proportion of total costs; 】●activity and costs: traditional costing failed to consider the relationshipbetween costs, activities and products. In this way, the allocation may tranfer a disproportionate amount of costs to high volume products which in fact just consume fewer resource. Whereas ABC allows the overhead costs incurred by activities to be related to product cost using cost drivers derived from the activities.●improve cost control: by identifying and using more accurate and differentbut relevant cost drivers according to different activities, ABC can lead to more detailed product cost information. In this way, manager is able to seek to control costs by controlling the activities. in other words, ABC provides the manager with a more deep insight of how the costs occurred.【for example, can optimise the number of production runs in order to minimise set-up costs】●better information on product profitability: better decision, better pricing,better product promotion, better profitability;●activity-based budgeting: identify the required level of production andsupport activity , eliminate slackexplain the features in traditional environment and in modern environment respectivelygive the implications (advantages) of using ABC in a modern environment, quote some examples3. conditions under which the introduction of ABC is likely to be most effective :●general conditions: significant overheads to allocate between differentproducts ; the availability of sophisiticated information retrieval systems●product mix : at least two products●retrieval system : as the production systems are far more complex inmodern environment, it should be supported by some computer services to facilitate the monitoring of costs and capture more information .4. implementaion problems in introducing ABC at first time●lack of understanding, therefore not fully accepted●difficulty in identifying cost drivers: abtaining enough information (supportservices, like retrieval system—costly ), multi-cost drivers – subjective●lack of appropriate accounting records : a new set of accounting recordswhich may be not available , thus has to be installed – time consumingcan vary between different divisions●Finance director—determine the viability of a product : a product may turnout to be a loss in ABC, if it consumes more activities on the basis of more cost drivers, rather than just traditional labour hours. It is doubtful whether selling the product is viable.●Marketing director—determine the reliability of a contract : incrementalcost; it is the future that matters, rather than just those historic experience ●Manageing director – manage and control costs occurred: cost per activitymay not be constant as the activity is repeated 【a learning curve】; some costs do not vary with any cost drivers 【eg: depreciation】●Chairman – overall profit : this may be the same no matter which method isadopted.6. explain the concept of ABM●focus on underlying causes of costs, the activities of the business. Costsare collected and reported by activity, through the use of cost drivers in ABC.7. explain the concept of ABC●costing and monitoring of activities that involves tracing resourceconsumption and costing final outputs. ABC changed the focus of cost accumulation from processes to activities. Using different cost drivers to attach activity costs to outputs.●There is no attempt to split fixed and variable costs, or to use ―blanket‖absorption bases.●In this way, the final costs that are attributed to a product can give a fairerreflection of the consumption of resources by that product.●Pricing – sales strategy – performance measurement8. illustrate the benefits of ABM●better understanding of costs and their causes, leading to more effectivecost management ;●better planning leads to better use of resources;●highlights opportunities to reduce or eliminate non value-adding activities;●value-analysis process can improve product design, more efficient use ofmaterial and labour, which will all add to cost reductions but improve the quality of products;●identification of cost driver rates gives a fair and useful measure of the costefficiency which may be used in performance appraisal. 【exclude the uncontrollable activities which can not be the responsibility of the manager】9. illustrate the benefits of ABC●better insight into what drives overhead costs●better understanding of the production process●recognise costs that are not related to volume●more accurate product costs: concentrate on more profitable products●better informed decisions : pricing; budgeting;●help idenifty the value-added and non value added costs and eliminate thenon value-added ones to improve the efficiency●can be used not only for production costs but also non-production costs,like servicing costs●lead to a more accurate assessment of management : since the manager’sperformance should be judged on controllable factors. Thus if the assessment is involved with some uncontrollable factors, it will be unfair and demotivate to managers. ABC is often claimed to rest on a more accurate information base, rather than an arbitrary allocation. Thus, it allows to align management decisions with their consequences. Also, ABC tracks costs to the causes of the costs which they links to management decisions.10. illustrate the limitations of ABC●the process of setting up an ABC system will be complex, not easy tounderstand , thus may not be accepted fully●may not have the correct accounting records, to install the new systemmay be costly and time consuming●may not have the advanced retrieval system to capture enough informationfor monitoring and controlling; to install this system may incur far more costs than the benefits generated.●unlikely to relate all overheads to specific activities, some activities mayhave no cost drivers, or have more than one potential cost driver 【subjective to set one only】●there are still simplications and assumptions to be made in its application【choice of the cost drivers】life-cycle costing1. explain the nature of the product life cycle concept●introductory stage:launch 【pricing strategy】;based on customers’awareness and trial of the product; be accompanied by extensive marketing and promotion; a high level of set-up costs,R&D, product design costs will incur;●growth stage : after the product has been accepted; sales volumeincreases dramatically; unit costs fall as the economies of scale; price may fall; marketing and promotion will continue;●maturity stage: market saturation【reach the mass market】; sales growthslows; the initial fixed costs will be all recovered; marketing and distribution economies achieved; price competition and product differentation will start;figure out ways to extend the life of the product 【upgrade the product;launch product in another market segment; sell accessories 】●decline stage : the product will move towards obsolescence as it isreplaced by new and better alternatives; the product will be abandoned when the profit falls to an unacceptable level; promotion may help to clear the stock; a replacement product will need to develop which incurres new R&D and design costs;this question is just to outline the four main stages of a product’s life and state the features in each stage2. issues would be considered by managers in each stage●introduction stage: high unit costs, relatively low sales volume, thepotential problem of rejection by the market conspires to make this stage the riskest●growth stage: competitors will be prompted to enter the market; developmore new efficient production methods●maturity stage:price competition is at its keenest, the price will be thelowest; unit cost will be at the lowest level; the manufacturing processshould remain lean and well managed. Value analysis may be undertaken.●Decline stage: it is still possible to make profits for a short period before therapidly dwindling sales volumes. May withdraw the product from the market.Introduction stage should do with ―pricing strategy ―and target costing;growth stage could do with target costing and ABC to reduce the unit cost;maturity stage could do with target costing and ABC as well for value analysis to reach the lowest price.Almost every stage will do with ―marketing and advertising‖. Introduction stage – bring more attention from the potential customers; growth stage –increase brand awareness; maturity stage—increase brand loyalty and develop a sense of prestige/ quality; decline stage –promotion for products left to clear the stock.3. explain life cycle costing●profiling of cost over a product’s life, including the pre-production stage●tracking and accumulating the actual costs and revenues attributable toeach product from inception to abandonment. The final profitability of a given product is determined at the end of its life, while accumulated costs at any stage can be compared with life-cycle budgeted costs, product by product, for the purposes of planning and control.●If a high proportion of a product’s costs incurres at the very early stages ofthe life cycle,【eg:electronic goods—degisn costs】the accounting system should compare the revenues from a produc with all the costs inccurred over the entire product life cycle.4. benefits from life cycle costing●focus on the time to market as well as money which is a key factor togenerate profit●monitor over the life cycle which can respond to any deviation rapidly andstop a project early. Thus resources can be allocated in a more efficient way.●emphasie on timescale which enables the company to keen on recoveringthe fixed costs committed to at the early stages.●Pricing decisions can be based on total life-cycle costs rather than simplythe costs for the current period.●Reinforces the importance of tight control over locked-in costs,such asR&D , design costs, since it tracks and monitors cumulative costs●Trace costs of each product separately and compare with respectiveproduct revenues. In this way, each product’s profitability can be assessed separately.5. state what distinguish life cycle costing from traditional methods【compare both and state the difference】●many accounting systems are based on periodic accounts, reportingproduct profitability in isolated calendar-based amounts.●Recognition of the commitment needed over the entire life cycle of aproduct will generally lead to more effective resource allocation. That is, if the product is estimated to recover all the fixed costs incurred, it should be launched. Vice versa. Aslo, as most of the costs have been recorded at early ages, the activities taken by the company will be with the cost control.【target costing—cost control from an early stage】●Life cycle costing traces all costs related to a certain product to individualproducts over their entire life cycle, to aid comparison with product revenues. This leads to a more fair assessment of the products respectively.●Relationships between early decisions 【product design, productionprocess, and utlimate costs】can be identified and stressed for subsequent planning. For example, lower design costs may result in higher customer service costs. 【after sale services】State the features of traditional methods and state the features of life-cycle costing and stress its good points6. the impacts of the product life cycle on the business in an advancedmanufacturing environment●products in modern manufacturing environment have low labour content【less labour intensive】. The direct unit cost is relatively low.● A high proportion of the total cots will be in the form of initial development,design and production set-up costs, and ongoing fixed costs that incurred at very early stages.●In a competitive market, product life cycles are decreasing, initial costs aremore disproportionate.●The time scale between launch of one product and commencement ofdevelopment of its successor can be very short. 【electronic goods】●Thus, recognition of life cycles of products can lead to strategic planning ofnew development, marketing and finance. It enables the managers to keep pace with the fast moving market and make corresponding decisions to maximise long run profits. It forces the managers to take external focuses rather than just internal consideration. It emphaises the importance of cost control to lead the company to a more competing postion. It enables the managers to respond to the fast moving market rapidly.State the features of a modern manufacturing environment【fast moving;short life cycle; short time scale; low labour intensive but highoverheads;competitive and volatile】. Then discuss the good points of using life cycle costing in this environment7. life cycle costing and differentiate, highly customised products insmall batches●many new products will be developed with associated ―up front‖costs【initial costs】and are likely to have short life cycles●managers should remove the system to report profitability of products on aperiodic basis and trace costs and revenues on a product-by-product basis intead as each of them has a short life cycle. This will enable the managers to understand product line profitability by assessing the company’s success or failure in developing new products.8. maximise benefits over the life cycle●minimise time to the market : in order to gain dominance ,launch theproduct as far ahead of the competition as possible. 【penetration pricing may be adopted】●maximise the length of the life cycle : staggering the launch in differentmarkets, segmenting the product in the future, selling accessories to the product 【updating】●design costs out of the product : 80% or 90% of a product’s costs arecommitted at the early stage. In order to maximise benefit, the product must be designed in a cost conscious manner . target costing1. explain the concepts of target costing● a pull system : a product cost estimate derived by subtracting a desiredprofit margin from a competitive market price. This may be less than the planned initial product cost, but will be achieved at mature stage.●Product spectification: understanding the market place 【customeranalysis】: customers desire on products’ features, the price range they are willing to pay●Price and margin: determine the target price 【consider the competitorproducts and the market conditions – external analysis】and establish the profit margin●Target price: deduct the profit margin to reach the target cost●then, the product will be designed within a pre-determined cost ceiling【cost conscious: minimise the number of components but not compromise the quality; use common parts; extra features and accessories that may be included; packaging】●the management should accept the target cost and do everything withintheir power to ensure the cost is achieved.●Cost gap: Once the actual cost are different from the target cost, a costgap【shortfall】comes out. managers should figure out ways to close the gap. 【the cost gap is similar to the cost variances to some extent】●It is a complex process, involving the use of skilled engineers and a goodknowledge of the markets.●An excellent way of focusing management attention on the value addedand non-valude added tasks to reduce costs.2. close the cost gap – value analysis●review product features –customer analysis: eliminate the non valueadded features●review the whole supplier chain—questionnaires: identify areas of likelycost savings; potential suppliers; negotiation ability; the market price;●components—not to damage the perceived value : new suppliers; differentmaterials; efficiency improvement by reducing wastage or idle time;●assembly workers : grade of workers; automation; learning curve;motivation【work morale 】; better management; production procedures;●overheads : economies of scale; ABC; great use of internet;●team approach: open discussion within all the divisions to clear manyconflict and dysfunctional behaviors in different divisions; reach a measure that based on the company as a whole, rather than a single division●outsourcingaccording to the cost items occurred : materials—labour costs—overheads3. target costing and short life-cycle products●not quite cost effective as the products are short life-cycle and in smallquantities.4. benefits from target costing in a modern manufacturing environment●rapidly changing environment: customer requirements, economic factorsand technology can all change very fast.●Early external focus: The organistaion will have an early external focus toits product development. This enables the product to be more competent and more likely to success in a competitive market.●Customer needs: Only those features that are of value to customers will bedeveloped, which will result in more efficient use of resources.●Early cost control: Cost control will begin much earlier. From the designstage, the staff will be conscious of the costs in a proactive approach.●Lower costs: Costs per unit will be lower which enhances profitability.Target costing is able to reduce product cost by 20% to 40% as it takes into account the external environment.●Reduced the time taken to get a product to market, as it has an earlyexternal focus which help get things right first time. 【less delays to correct the decision】State the charactors of a modern environment and then state the features of target costing4. compare with standard costing●standard costs are too rigid for cost reduction and control.【they need to beset for a year at a time】. target costing is more flexible, so targets can be changed from month to month●standard costing focuses on internal costs while target costing takes intoaccount the competitive market and the price customers are prepared to pay. The organisation has to be outward-looking.●Target costing involves other techniques, such as value analysis, which willeliminate the inefficient part to reduce the cost.5. difficulties of using target costing in service industries●hard to determine a market driven price●the introduction of new products and services in service industries are farless frequently than in a manufacturing environment●the major cost of any new product or service is salaries which there islimited scope for substantial cost reduction.back-flush costing1. explain the concepts of back-flush costing●focuses upon output of an organisation and then works backwards whenallocating costs between cost of good sold and inventories 【cost do not mirror the flow of production through the production process, but are attached to output produced.】●conversion costs 【labour and production overheads】are attached toproducts only when they are completed. 【while traditional method is to allocate costs to physical cost units at every stage of their production】●it simplifies costing since it ignores both labour variances andwork-in-progress●in a perfect JIT environment, there would be no WIP at all, nor the amountof it will be negligible in quantity and value.●It simplifies the accounting records by avoiding the need to follow themovement of materials and WIP through the manufacturing process2. comment on its suitability●back-flush accounting is suited to a just in time philosophy●is employed where the overall cycle time is relatively short●and inventory levels are low. 【a great proportion of all input costs will beattributed to finished goods sold 】●and inventory value should be constant. 【little variation】●Also, the throughput should be fast: highly automated and reliableproduction methods●Reliable suppliers to deliver on time at the fixed price and fixed output3. benefits of backflush costing●save time and costs by reducing the amount of data required and thefrequency of data entry●simple to undertake4. benefits of traditional approach●inventories are easily valued at any stage and time●it affords a great degree of control over costs : detailed variance analysiscan be carried out●however, it is time consuming, requiring a great deal of detailed data,should be supported by large volumes of documentationthroughput costing1. explain the concept of throughput costing●throughput : the rate of production of a defined process over a statedperiod of time. sales revenue minus the cost of materials, which is regarded as the only variable cost in the short term ●assumptions: all manufacturing costs in the short term are largelypre-determined , and therefore are fixed.●Overall product profitability is determined by two factors: the rate at whichit contributes money, and the rate at which the factory spends money2. why the contribution in throughput accounting differs from that inmarginal costing●the main difference is what can be regarded as a variable cost.●The traditional marginal costing assumes that direct labour is a variablecost. Whereas throughput costing treats labour as a fixed cost 【pre-determined 】●Marginal csoting also tends to emphasise cost behavious and split theoverheads into fixed and variable parts. Whereas the throughput costing treat all of them as fixed in the short term●Throughput accounting use the total cost of direct materials purchased inthe period in the calculation of throughput, rather than the materials used.3. throughput ratio●identify the bottleneck resource 【only one】●calculate the throughput per bottleneck resource●calculate the operating cost 【only production costs but for all products】per hour 【all the available hours for all products】●throughput accounting ratio= return per bottleneck resource/ operatingcost per hour4. interpretation of throughput accounting ratio● a product is worth producing and selling so long as its throughput returnper bottleneck hour is greater than the production cost per hour . thus , throughput ratio is more than 1.●When the ratio is greater than 1, return exceeds cost and the focus shouldbe on improving the size of the ratio.●Improvement could be: increasing selling price or reducing material cost ;speeding up the productivity 【reducing the time to produce one unit】;reducting the overheads 【outsourcing; redesign;】;。
ACCA P5知识点：Kaizen costing汇总
ACCA P5知识点：Kaizen costing汇总
在ACCA P5考试中kaizen costing也是一个常考的考点。
1.definition：Kaizen costing aims to obtain incremental cost reduction in the production stage of the production life cyle by value analysis and fuctional analysis.
2.The process
第一步：每个部门设置一个目标成本
第二步：产品的目标成本通过把各部门的目标成本加起来确定下来
第三步：以第一年的实际成本为起点，以后的年份都在此基础上进行成本的减少、
3.与标准成本法对比
·概念上：标准成本法是一种成本控制的概念，他是假设生产状态不变的，目标是为了满足成本绩效的标准。
而KAIZEN是一种成本减少的方法，假设是在一个动态的环境中不断的改进，目的是要实现成本减少目标
·在技术上：标准成本法是每6个月或者12个月就要进行，用差异化分析，调查什么时候标准不能满足。
Kaizen是每个月都要进行和应用，执行的是持续性的提高，调查的是什么时候目标KAIZEN amount没有满足目标
·在员工的角度看：标准成本法认为员工的问题产生的来源，而KAIZEN认为员工是发现解决问题方法的源头。
ACCA F5知识点：一网打尽costs
ACCA F5知识点：一网打尽costs关于ACCA F5学习第一个重要的知识点就是如何区分不同的costs，今天浦.江财.经就给大家来总结一下，希望帮助大家复习ACCA F5。
首先，Marginal cost，大家想到MC就要想到Contribution，这是一个非常重要的点（Sales Revenue–Variable cost=contribution）。
在MC下，Fixed cost是固定不变的，只关注VC，存货也是用VC计价。
其次，我们关注的是Absorption Cost，这里有一个非常重要的知识点就是OAR（Overhead Absorption rate），这个知识点我们在F2也学习过了，但是F5考试也会考查，所以要对它的公式推导十分熟悉。
AC用OAR来吸收FC，这样可以更全面的看待公司产品的成本。
当然under-和over-absorption这个知识点也是需要掌握的。
我们通过AC，推导出ABC（Activity-based Costing），如果一个产品的固定成本较大，这就非常适合ABC法，通过对Cost drivers的区分，使得公司能够更加准确地知道固定成本高的原因了。
接下来，我们学的是Life-cycle costing，即生命周期成本法，这主要是运用于准备研发新产品的时候，使得公司有一个long-term planning，并且在公司的R&D阶段determines 70%-90%cost.接着，我们学习的一个重点就是target costing，这是一个非常重要的知识点。
大家首先要学会区别Mark-up和margin的区别，之后大家就会推导出target costing=selling price-margin。
这里还有一个关于cost gap的概念，这是Estimated product cost–target cost的差值，如何缩小这个cost gap也是考试经常考查的地方。
ACCA考试经验分享-P1P3P5考试书写技巧
ACCA考试经验分享-P1P3P5考试书写技巧
备考的重要性不言而喻，但是实战经验也是学员们需要注意的地方，除了常规的书写技巧外，每个科目都有自己独特的另一面，今天泽稷网校ACCA老师为即将上考场的学员准备了这篇答题经验分享，希望你们能够取得好成绩：
一、ACCA通用应试技巧篇：
ACCA考试是得分制，不是扣分制，只要写到点子上就能得分，因此要留意markingscheme是怎么分配考点和分值的。
有的paper是典型的多劳多得，我影响最深的是auditandissurance，我把我能想到的点都写上了，写到最后一页最后一行，得了65分。
严格地控制每1分花费1.8分钟的时间。
例如一个paper五道题，每题20分，一个小时做一题，每题都做得很好，一共做完三题，
第一题17分，第二题15分，第三题16分，水平绝对高，加起来48分，fail！连marker都扼腕叹息了。
假如严格的控制时间，每36分钟做一题，每题只拿10分，五题加起来50分，pass！
聪明人都会拿到每一题的easymark.
例如还有1分钟就交卷，最后一题一点没写，怎么办？
把问的几个问题的小标题写上，序号标上，1分就给了，再写一个记得的公式，又1分了。
如果前面得到48分的加上这2分就pass了。
新加坡楷博金融学院ACCA课程全方位介绍
说到留学新加坡读ACCA，就离不开新加坡楷博金融学院ACCA课程!新加坡楷博金融学院ACCA课程是新加坡最好的ACCA课程之一。
接下来，86留学网将以问答的形式为大家全方位解读新加坡楷博金融学院ACCA课程。
1、新加坡楷博金融学院是谁?新加坡楷博金融学院(Kaplan Financial)是Kaplan Singapore的一个部门，在英国和亚洲拥有28家培训中心，每年帮助30，000多名学生备考专业会计考试;所有学院中心均凭借为ACCA学生提供的优质辅导，通过了铂金级“被认可的培训机构”资格认证。
Kaplan Financial在全面了解学生需求的基础上提供更优质的课程，因此受到了广泛认可。
专心致至、经验丰富的讲师在确保较高的考试通过率方面一贯表现出色。
我们不断更新的教材反映了教学大纲、立法和其他职业公告的最新变化。
学生之所以选择Kaplan Financial，正是因为他们知道能够获得最高的保证以及课堂内外的个性化服务。
2、取得ACCA(特许公认注册会计师资格)，我能得到什么?毕业后我能做什么?ACCA“特许公认注册会计师资格”，是全球最权威的财会金融领域的证书之一，也是国际上认可范围最高的财务人员资格证书。
满足一定的条件后，ACCA学员将可以取得英国牛津布鲁克斯大学的应用会计理学学士学位，也可向英国牛津布鲁克斯大学申请入读MBA。
学校的毕业生，除了供职于以上新加坡认证雇主公司外，有部分自己成立会计师事务所及或谋取其他海外发展机会。
拥有ACCA资格，可从事行业包括;1)注册会计师2)会计，审计，和金融类职务3)银行业;4)税务;金融分析，保险等行业所在岗位：1)财务经理2)财务总监(CFO)，总裁(CEO)等3、新加坡的就业机会多吗?我的薪水会怎样?新加坡是仅次于瑞士的世界第二大私人银行中心，金融相关的工作种类繁多。
全世界300多家知名银行在新加坡设有分行，600多家金融机构，奠定了其金融业的发展基础;新加坡政府已经设立了高水准委员会，将更好地促进新加坡会计行业的发展。
kaizen costing概念
kaizen costing概念《Kaizen Costing：提升企业持续改善能力的成本管理方法》概念：Kaizen Costing（改善成本法）是一种管理方法，旨在通过持续改善来降低成本并提高效率。
它源自日本的“改善”（Kaizen）理念，强调员工参与、跨部门合作和不断改进的方式来优化成本和业务流程。
背景：传统的成本管理方法往往是以目标利润为基础，将成本视为固定和不可变动的。
然而，在现代竞争激烈的市场环境中，企业需要不断适应和改进，以保持竞争力。
因此，Kaizen Costing应运而生，成为一种更加灵活和适应性强的成本管理方法。
原则：Kaizen Costing的核心原则是减少浪费和提高效率。
它要求员工从事持续改善活动，以减少不必要的成本并增加价值。
这个过程需要员工跨部门协同合作，共同定义和解决问题，并采取创新的方法来提高业务流程和工作效率。
方法：Kaizen Costing基于实际检查和数据分析，寻找成本浪费的根源。
这可以通过制定流程图、时间研究、价值流分析和故障模式与效应分析等方法来实现。
然后，团队将集思广益，提出改进建议，并通过小规模试点项目来验证其有效性。
如果改进方法成功，那么将在企业范围内推广和应用。
效益：Kaizen Costing的应用可以带来多方面的效益。
首先，它可以提高成本效益并降低生产成本。
其次，它可以改善员工工作环境和生产条件，提高生产效率和质量。
第三，它可以激发员工的积极性和创造力，促进团队合作和持续改进的文化。
最后，它可以为企业创造竞争优势，提高市场份额和利润。
结论：Kaizen Costing是一种以持续改善为基础的成本管理方法，其核心原则是减少浪费并提高效率。
它鼓励员工跨部门协作，通过问题解决和创新来优化成本和业务流程。
通过应用Kaizen Costing，企业可以实现更高的效益、更好的竞争力和持续的成长。
Kaizen成本法
一、Kaizen的来源来源于全球改善协会（Kaizen），是一个全球性的咨询机构,总部在瑞士，1986年由今井正明先生创建，主要帮助全球企业建立持续改进的kaizen系统并成功实kaizen战略和工具，是企业从技术、文化和领导力等多方面得到持续的发展，达到世界级工厂的标准。
kaizen作为日本企业文化的精髓，在日本经济复苏和竞争力提高中做出了巨大的贡献。
kaizen成本制度是kaizen文化在成本管理上的具体体现，它与日本的另一种独特的成本管理方法———成本企画(Target costing)相辅相成，共同实现了日本企业的低成本战略。
kaizen是日语“改善”的发音。
“改善”在日语中被解释为：一个过程通过细小的、不断累积的努力而获得的改进。
在日本企业里，kaizen理念在管理人员和工人心中是根深蒂固的，它已经成为企业每个成员的共同意识和自觉行动。
二、原理介绍1.kaizen成本法基本思想介绍kaizen成本制度是指在产品制造阶段为降低成本而进行的不断改进，其基本做法是企业不断地设定新的成本降低目标，在生产过程中通过消除不需要的、无效率的作业，并持续地改善增值作业来实现目标。
这一方法的指导思想是企业有能力不断地降低产品成本，这是一种永无止境、目标不断提高的成本管理思想和方法，这种成本意识是企业长期保持成本优势。
2.Kaizen成本法主要特点主旨是报告和促进成本的节约，而不是获得更准确的成本信息；降低成本是团队的而不是个人的责任；实际生产成本是由一线员工计算、分配、分析的。
很多时候，是团队而不是会计人员收集、编制成本信息；团队所使用的成本信息与其生产环境是相互匹配的标准成本被不断调整以反映已实现的成本节约和未来成本节约目标，这样就能确保已被证明行之有效的革新措施能够继续下去，并为将来的改进设定一个新的目标。
3.Kaizen 与TQM、JIT、QC 和TPM的关系不管是TQM、JIT,还是TPM都与Kaizen有着密不可分的关系。
ACCA P5考试小技巧
P5的考官强调说考纲中的知识点通常只占P5考试中的30%。
“你把考纲印脑子里也没用”，考官是这么说的。
P5和P阶段所有考试一样，都是侧重于知识点的应用，考生应该是在问题场景下回答问题。
考官说还说：P5的考试中“评估”比“计算”来的重要的多。
他希望考生使用有逻辑的方法。
The examiner felt that students generally do well with EVA, quality systems (especially JIT)，and models from section E of the syllabus –like the balanced scorecard.考官感觉总体上考生都比较擅长EVA，quality systems(尤其是JIT)，和考纲上section E的模型——比如balanced scorecard。
但是，太多的考生的学习都浮于表面，他们学习了很多专业术语但是却不知道这些术语背后的意义。
例如：考生都是balanced scorecard是平衡记分卡，但是一旦涉及实际应用，考生就有点懵逼。
考官说：“现在不知道return on capital employed的考生人数在逐步下降。
”，但他也警告考生这个人数也可能会再次增加，所以这在提醒大家基本定义还是要记牢的。
另外需要考生们多多下功夫的部分还有：ABC，overhead cost allocation systems responsibility centres and transfer pricing。
2018年P5的改革：全新的考试结构——Section A：一个50分的案例分析;Section B：2个25分的问题。
全新的考纲指南——Section A：考纲A、C、D; Section B：一个问题来自考纲E，另一个问题可能来自考纲上任意一点。
也就是说考纲B可能会出现也可能会不出现。
考官还期待最新的SBL考试会帮助提高P5的通过率。
七战 ACCA APM(P5) ,八年抗战ACCA
七战 ACCA APM（P5），八年抗战ACCA我从2008年8月份在新加坡报名学习ACCA，到2016年6月通过全部14门课程。
8年抗战总算是结束了！感谢东方立品，特别感谢徐开金老师，终于让我通过了P5这只拦路虎。
学习背景我没有免考科目，F阶段全部一次通过，P阶段就没有那么幸运了，因为工作越来越忙，时不时地补考，在2012年底才通过P1-P4这四门。
P5很惨，考了6次，一直没过。
后来生了孩子，回了中国当了全职妈妈。
一孕傻三年啊，生活中智商都不够用啊，更别提考试了。
于是ACCA就这么搁一边了。
但是P5就是我的恶梦啊，虽然不看书考试了，但是多少次做梦都梦见P5考试啊，泪奔......7战 P56次考试失败，让我一度想放弃，可是又实在不甘心。
想着十年的期限快到了，孩子上幼儿园了，决定拿起书再搏一搏。
本想转考P6，但是中国没有P6的培训班，而且F6的知识也忘得差不多了，决定7战P5！在网上搜了很多关于P5的资料，各种培训机构，无意中看到关于八步法，徐老师的信息，学生的评价相当不错。
抱着试试看的心态，我报名了。
在此要提的是东方立品的工作人员Nancy，通过跟她的交谈感觉到她对ACCA的了解，而不像是别的我曾经联系过的机构工作人员。
很快我就收到了学习资料，此时距离考试还有整三个月...学习方法既然没有天才的头脑，也没有很傲人的。
英语水平，我只能一步一个脚印，按照徐老师的方法来稳扎稳打的学习。
前两个月听基础课，做习题，后一个月听精讲课，继续做题，总结分析。
全部按照徐老师的方法来做，没有捷径。
在这次的学习里，我做题都用了四个本子，徐老师勾选的题目至少都做了一遍。
我觉得要自己思考题目并动手写下来这一点是非常重要的。
我以前就是看完题直接看答案，很多时候就是在背答案，几乎没有自己思考的过程，以至于屡战屡败。
以前脑袋里只有零散的各种知识点，听了徐老师的课，才知道每个知识点都是相关的，才慢慢理解了考官的要求。
这次考试我大概只做了80分的题目，得了52分。
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楷博名师花式解读：ACCA P5 “Kaizen Costing”
丰田是目前全世界排名第一的汽车生产公司，家喻户晓，2016年位居《财富》世界500强第8位。
世界著名质量管理大师今井正明先生在深入细致了解分析丰田公司后，他认为丰田成功的关键在于贯彻了Kaizen（持续改善）的经营思想。
Kaizen是一个日语词汇，意指小的、连续的、渐进的改进。
在ACCA P5中，给Kaizen Costing的定义是:producing constant, small, incremental cost reductions throughout the production process ，意思是在生产过程中通过小的持续的渐进的成本缩减来实现提高。
不管是Kaizen 还是Kaizen Costing , 都阐明这一个道理：小的持续的渐进的改进会带来不可思议的效果。
改善思想已被日本社会各界奉为继神道教、佛教之后的日本第三大宗教，今井正明认为改善思想是日本战后经济迅速崛起的奥秘，是日本企业以无可匹敌的榜样力量席卷全球的竞争优势。
在慨叹日本企业对企业管理之道的精研之后，蓦然回首，我们发现，Kaizen 和我们中国古文化如出一脉：
老子《道德经》：第六十四章：“合抱之木，生于毫末；九层之台，起于垒土；千里之行，始于足下。
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荀子《劝学篇》：“不积跬步无以至千里,不积小流无以成江海。
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刘蓉《习惯说》：“一室之不治，何以天下家国为？”，也就是当下津津乐道的“一屋不扫，何以扫天下”。
古代的先贤们，用粗浅的语言总结着他们的人生智慧，告诉人们：
１.欲成大事，先从小事做起，就像合抱之木，也是毫末积累而成；不要惧怕未来目标多遥远，只要当下做起，总会实现。
２.不要忽视生活中点滴的进步，点滴的进步给我们带来长足的发展；同时不要忽视细微的疏漏，它会将我们带到痛苦的深渊。
千里之堤，毁于蚁穴，当下稍微的不慎重，轻浮的选择可能会为后来的失败埋下隐患。
于企业，于人生，Kaizen都有着积极的指导意义：
于组织而言，它要求每一位管理人员及作业人员，要以相对较少的费用来连续不断地改进工作。
长期而言，这种阶梯式的持续进步足以获得巨大的回报。
先前微不足道的细微效果其往往终局是颠覆性的、革命性的。
中国不少企业经营者崇尚激进式变革，视“改善”为小打小闹的玩意，企业需要大手笔，如流程再造、组织变革、策略重建、文化变革、并购等等。
但激进式变革往往是在企业面临重大危机，问题变得严重且紧迫的情况下所采取的果断措施。
企业必须具有抗冲击
的坚实基础，如管理水平较高、基础扎实、企业文化深入人心、企业领导威望高等。
激进式变革往往风险大、失败率高、易发生反复。
于人生而言，它要求我们珍惜重视当下取得的点滴优势，小小进步。
不怕优势小，只要坚持，积累，就一定能够打造出自己人生的competitive advantage；不怕目标大，只要坚持，假以时日，目标唾手可得。
ACCA，CIMA学习也是这样，也许就短期当下而言，我们看不出二者给我们特别明显的优势，但当我们用发展的眼光看问题的时候，就会是另一番情景：首先，ACCA，CIMA 大行其道，不学习，就意味着落后；如果这不足以说明问题，那可以假想毕业6、7年后，当你是财务经理时或者正忙于竞争财务经理时，如果手中有一张ACCA或CIMA的文凭证书，还总是能锦上添花的。
核心的竞争优势不是短时间能打造成功，也不是光光学个ACCA，CIMA就能具备，需要我们不断的积累当下的一点点小优势。
也许有同学会问，6、7年后当个财务经理是不是有点不可能？那么也可以问问自己这样一个问题：当年听到ACCA，CIMA要学14们或更多的时候，是不是也觉得遥不可及？但对于大四拼到现在的同学来讲，ACCA，CIMA证书已在掌控之中。
因此，6、7年后当个财务经理，对于能够坚持的学员讲，只是一个很保守的说法。
在6、7年后当上财
务经理之时，当实现财务人生自由之时，一定会为当下的这点坚持感动的。
所以，既然上
了财务这条“黑”道，那就请一黑到底。