F2ManagementaccountingF2-Chapter12a
ACCA考试报告分析F2-examreport-2014J
Examiner’s reportF2/FMA Management AccountingFor CBE and Paper exams covering January to June 2014 General CommentsThe structure of the exam changed from previous sittings due to the introduction of multi task questions (MTQs) to both the CBE and paper based examination. From now onwards section A of the paper will contain 35 multiple choice questions (MCQs) – each worth 2 marks, and section B will have 3 MTQs worth ten marks each. All questions are compulsory. The paper remains a two hour examination. A pilot paper reflecting this new structure is available on the ACCA website together with a number of practice MTQsAs always, excellent scores were achieved by some candidates. I congratulate both them and their teachers. I offer my commiserations to those who were not successful.In section A the worst answered MCQ questions were calculation based. Calculation questions accounted for approximately 40% of MCQ questions, and as usual were answered worse than the narrative based MCQs.The best answered questions were of a narrative nature.In section B two thirds of the marks were for calculation. There was little difference in performance between section B calculation and narrative questions.As is usually the case for this paper, F2 candidates on average, performed better than FMA candidates, but on this occasion the difference was narrower than usual.The following questions are ones where the performance of candidates was very weak. Each of these questions relate to a mainstream topic in the Study Guide.Section A Sample questions for discussionExample 1A company uses standard absorption costing. Actual profit last period was $25,000, which was $5,000 less than budgeted profit. The standard profit on actual sales for the period was $15,000. Only three variances occurred in the period: a sales volume profit variance, a sales price variance and a direct material price variance.Which of the following is a valid combination of the three variances?Sales volume Sales price Direct materialprofit variance variance price varianceA $15,000 A $2,000 F $8,000 FB $5,000 A $2,000 A $2,000 FC $15,000 A $2,000 A $8,000 AD $5,000 A $5,000 F $5,000 AThe correct answer is A.The correct answer can be arrived at by looking for a combination of variances that satisfy two criteria(i)The total of the variances must add to $5,000 adverse as actual profit is $5,000 less than budgetedprofit(ii)As budgeted profit is $30,000 ($25,000 actual plus a $5,000 adverse variance) and standard profit on actual sales is $15,000 (given) then the sales volume variance must be $15,000 adverse.Only alternative A meets both of these criteria. D was the most popular choice by candidates, suggesting that most understood criteria 1, but not criteria 2.Questions on standard cost operating statements have been mentioned in previous reports and are a commonly amongst the worst answered questions on the paper.Example 2A company has prepared flexed budgets at two activity levels. The cost per unit of three costs is given below. All three costs behave in a linear manner with respect to activity.Activity level (units)10,000 15,000CostX $3·0 per unit $2·0 per unitY $1·0 per unit $1·0 per unitZ $3·5 per unit $3·0 per unitIs each of the costs variable, semi-variable or fixed?X Y ZA Variable Fixed Semi-variableB Variable Fixed VariableC Fixed Variable Semi-variableVariable FixedD FixedThe correct answer is C.The key to the question is to understand that for variable costs the cost per unit is constant, whilst for fixed costs the total cost is constant. Cost X can quickly be identified as a fixed cost as the total cost between the two output levels is unchanged (10,000 units x $3 = 15,000 units x $2). Cost Y is a variable cost because the cost per unit is constant. Cost D meets neither of these criteria because it contains elements of both fixed and variable cost, and therefore is a semi variable cost. Alternatives A and B were selected by majority of candidates, suggesting some confusion between cost per unit and total cost.Example 3An accountant wishes to use the following spreadsheet to calculate budgeted production units.Which formula should be entered in cell B5?A =B3-C4+B4B =B3-B4C =B3+C4D =B3+C4-B4The correct answer is DTo arrive at this answer candidates had to understand that production units = sales units + closing inventory of finished goods – opening inventory of finished goods, and that the opening inventory for August was the closing inventory for July.Alternative B was the most popular answer presumably on the basis that it totalled the column. Alternatives A and C were selected by only small percentages of candidates.Section BSection B contained 3 questions, one from each of syllabus areas C Budgeting, D Standard Costing and E Performance Measurement. This approach will continue in future papers. The balance of MCQ questions in section A was altered to reflect this change and to preserve the overall balance of the paper. The pilot paper reflects the new weightings. This balance of questions will be used in future papers.Common problems with section B questions included the following∙An apparent lack of knowledge of the net present value (NPV) technique. Many candidates appeared to confuse it with net book value (NBV) and unnecessarily calculated depreciation provisions over the asset’s life. Many candidates were unable to suggest one advantage of using net present value.∙An inability to calculate material price and usage variances and fixed overhead volume variances.∙An inability to explain the causes of variances.∙An imprecise knowledge of commonly used accounting ratios. Return on capital employed should not be calculated by any profit figure divided any asset figure. Its formal definition is operating profit divided by ordinary shareholder’s funds plus non-current liabilities.∙Weak understanding of a businesses’ performance. A significant minority of candidates did not know which ratios measured liquidity and which measured gearing. For the paper exam, many provided weak commentary, such as “the gearing ratio is higher”. This alone does not tell whether this a good or bad, and greater clarity is required for full marks. Again for paper exam only, there were often poor layout of calculations, making it very difficult to understand what candidates were trying to do.Future candidates are advised to:• Study the whole syllabus, because the paper will cover the full syllabus.• Practise as many multiple choice questions as possible.• Read questions very carefully in the examination.• Try to attempt the “easy” examination questions first.• Not to spend too much time on apparently “difficult” questions.• Attempt all questions in the examination (there are no negative marks for incorrect answers).∙For those taking paper exam, present section B answers as tidily as possible∙For those taking CBE exam, read each requirement carefully• Read previous Examiner’s Reports.。
ACCAF2练习题2012（题）
ACCAF2练习题2012（题）F2 MANAGEMENT ACCOUNTING-Q1. A firm which bottles shampoo selects some filled bottles for examination. The procedure used is that two random numbers, x and y, are chosen. Starting at the xth bottle filled, every bottle at an interval of y is then chosen for examination.This type of sampling is known as:A Multi-stageB RandomC SystematicD Stratified2. The following statements relate to responsibility center:(i) Return on capital employed is a suitable measure of performance in both profit and investment centers.(ii) Cost centers are found in manufacturing organizations but not in service organizations.(iii) The manager of a revenue center is responsible for both sales and costs in a part of anorganization.Which of the statements are incorrect?A (i) and (ii)B (ii) and (iii)C (i) and (iii)D All of them3. A pie chart is being produced to represent the sales from different regional offices of a business:$000North 125North West 180East 241South 691South East 147Total 1,384What would be the angle of the East divisions section on the pie chart (to the nearest whole degree)?A 63°B 33°C 180°D 5804.Which of the following is not a type of benchmarking?A InternalB StrategicC InternationalD Functional5.K Class has calculated the following indicators: (i)Return on capital employed (ii)Training costs as a percentage of total costs Which of the balanced scorecard perspectives would these measures relate to?(i) (ii)A Financial FinancialB Financial InternalC Internal Learning and growthD Financial Learning and growth6. A government body uses measures based upon the ‘three Es’ to t he measure value for money generated by a publicly funded hospital. It considers the most important performance measure to be ‘cost per successfully treated patient’.W hich of the three E’s best describes the above measure?A EconomyB EffectivenessC EfficiencyD Externality6.The diagram represents the behaviour of a cost item as the level of output changes: Which ONE of the following situations is described by the graph?A Discounts are received on additional purchases of material when certain quantities are purchased.B Employees are paid a guaranteed weekly wage, together with bonuses for higher levels of production.C A license is purchased from the government that allows unlimited production.D Additional space is rented to cope with the need to increase production8.The following production and total cost information relates to a single product organization for the last three months: Month production units total costs1 1200 66,6002 900 58,2003 1400 68200The variable cost per unit is constant up to a production level of 2,000 units per month but a step up of $6,000 in the monthly total fixed cost occurs when production reaches 1,100 units per month. What is the total cost for a month when 1,000 units are produced?A $54,200B $55,000C $59,000D $60,2009.Which of the following will be completed by a production department requiring new materials to be obtained from suppliers?A A purchase orderB A delivery noteC A purchase requisitionD A goods received noteThe following information applies to questions 10, 11 and 12 Point uses the economic order quantity (EOQ) model to establish the reorder quantity for raw material Y. The company holds no buffer inventory. Information relating to raw material Y is as follows:48,000 units Annual usage$80 per unit Purchase price$120 per order Ordering costs10% of the purchase price Annual holding cost10.The EOQ for raw material Y is:A 438B 800C 1,200D 3,79511.The total annual cost of purchasing, ordering and holding inventory of raw material Y is：A $3,849,600B $3,850,400C $3,853,600D $3,854,40012.The supplier has offered Point a discount of 1% on the purchase price if each order placed is for 2,000 units.The total annual saving to Point of accepting this offer is :A $29,280B $30,080C $37,200D $38,00013.Which of the following are included in the cost of holding inventory?(i) the cost of insurance(ii)rental payment of storage space(iii)the cost of placing a orderA (i) and (ii)B (i) and (iii)C (ii) and (iii)D (i), (ii) and (iii)14.If the direct labor costs in a manufacturing company are $95,000 in March, the costs would be recorded in the cost ledger as:A Debit Work-in-progress $95,000, Credit Wages and salaries $95,000B Debit Wages and salaries $95,000, Credit Bank $95,000C Debit Wages and salaries $95,000, Credit Work-in-progress $95,000D Debit Bank $95,000, Credit Wages and salaries $95,00015.A direct labor employee works a standard 37 hour week and is paid a basic rate of $15 per hour. Overtime is paid at time and a half. In a week when 40 hours were worked and a Bonus of $20 was paid, what was the direct labor cost?A $555B $600C $622.50D $642.5016.A cost centre has an overhead absorption rate of $4.25 per machine hour, based ona budgeted activity level of 12,400 machine hours.In the period covered by the budget, actual machine hours worked were 2% more than the budgeted hours and the actual overhead expenditure incurred in the cost center was $56,389.What was the total over or under absorption of overheads in the cost center for the period?A $1,054 over absorbedB $2,635 under absorbedC $3,689 over absorbedD $3,689 under absorbed17.The management accountant’s report shows that fixed production overheads were over-absorbed in the last accounting period. The combination that is certain to lead to this situation is:A Production volume is lower than budget and actual expenditure is higher than budgetB production volume is higher than budget and actual expenditure is higher than budgetC production volume and actual cost are as budgetedD production volume is higher than budget and actual expenditure is lower than budget.18.A law firm recovers overheads on chargeable consulting hours. Budgeted overheads were $615,000 and actual consulting hours were 32,150. Overheads were under-recovered by $35,000.If actual overheads were $694,075, the budgeted overhead absorption rate per hour is (to 2 decimal places):A $20.21B $20.50C $21.59D $22.68/doc/091272678.htmlst month a manufacturing company’s profit was $2,000, calculated using absorption costing principles. If marginal costing principles had been used, a loss of $3,000 would have occurred. The company’s fixed production cost is $2 per unit. Sales last month were 10,000 units.What was last month’s production (in units)?A 7,500B 9,500C 10,500D 12,500The following data are for questions 20 and 21.The budget for Bright’s first month of trading, producing and selling boats was as follows: $Variable production cost of boats 45Fixed production cost 30Production cost of 750 boats 75Closing inventory of 250 boats (25)Production cost of 500 sold 50Variable selling cost 5Fixed selling cost 2580Profit 10Sales revenue 90The budget has been produced using an absorption costing system.20.If a marginal costing system were used, the budgeted profit would be:A $22,500 lowerB $10,000 lowerC $10,000 higherD $22,500 higher21.Assume that at the end of the first month unit variable costs and fixed costs and selling price for the month were in line with the budget and any inventory was valued at the same unit cost as in the above budget.However, if production was actually 700 and sales 600, what would be the reported profit using absorption costing?A $9,000B $12,000C $14,000D $15,00022.For a product that has a positive unit contribution, which of the following events would tend to increase total contribution by the greatest amount:A 10% decrease in variable cost.B 10% increase in selling price.C 10% increase in volume sold.D 15% decrease in total fixed costs23.A company uses process costing to value output. During the last month the following information was recorded: Output: 2800kg valued at $7.5/kgNormal loss: 300kg which has a scrap value of $3/kgActual gain: 100kgWhat was the value of the input?A $22,650B $21,900C $21,600D $21,15024.Vare produces various inks at its Normanton factory. Production details for Process 1 are as follows:Opening work-in-progress, 1 April 400 units60% complete Closing work-in-progress, 30 April 600 units20% complete Units started 1,000Units finished 800The degree of completion quoted relates to labour and overhead costs. Three-quarters of the materials are added at the start of the process and the remaining quarter added when the process is 50% complete. The company uses the FIFO method of cost allocation.The equivalent units of production for materials in the period are:A 1,250B 1,000C 850D 68025.In process costing, if an abnormal loss arises the process account is generally:A debited with the scrap value of the abnormal loss unitsB debited with the full production cost of the abnormal loss unitsC credited with the scrap value of the abnormal loss unitsD credited with the full production cost of the abnormal loss units26.X uses process costing. In Process 3 the normal loss is 4% of total input.Last period the input from Process 2 was 8,500 kg and additional material of 4,250 kg was added to process 3.Actual output to finished goods was 12,700 kg.There was no opening or closing work-in-progress in the period.The abnormal gain or loss in kg for period 3 was:A 460 kg gainB 460 kg lossC 290 kg gainD 290 kg loss27.Which of the following are features of service organizations?(i)High levels of inventory(ii)High proportion of fixed costs(iii)Difficulty in identifying suitable cost unitsA (i) and (ii) onlyB (i) and (iii) onlyC (ii) and (iii) onlyD All of these28.Which ONE of the following is an advantage of Activity Based Costing?A It provides more accurate product costsB It is simple to applyC It is a form of marginal costing and so is relevant to decision makingD It is particularly useful when fixed overheads are very low29. As an indirect result of purchase of under-standard materials, are the materials usage variance and labor efficiency variance likely to be adverse or favorableMaterials usage Labor efficiencyA Favorable FavorableB Adverse FavorableC Favorable AdverseD Adverse Adverse30. A company operates a standard absorption costing system. The standard fixed production overhead rate is $15 per hour.The following data relate to last month:Actual hours worked 5500Budgeted hours 5000Standard hours for actual production 4800What was the fixed production overhead capacity variance?A$7,500 adverseB$7,500 favourableC$10,500 adverseD$10,500 favourable31. Which of the following could be the cause of an adverse sales volume variance for garden furniture.(i)The company offers discounts on sales prices in order to maintain business.(ii)Poor weather leads to a reduction in sales.(iii)A strike in the factory causes a shortage of finished goods.A (i) and (ii) onlyB (i) and (iii) onlyC (ii) and (iii) onlyD all above32. An extract from the standard cost card for product CJ is as follows:Direct labour (0.5 hours × $12) $6710 units of CJ were produced in the period and staff worked 378 hours at a total cost of $4,725. Of these hours 20 were lost due to a material shortage.The labour efficiency variance is:A$516 favourableB$36 favourableC$36 adverseD$516 adverse33. A flexible budget is:A a budget for semi-variable overhead costs only;B a budget which, by recognising different cost behaviour patterns, is designed to change as volume of activity changes;C a budget for a twelve month period which includes planned revenues, expenses, assets and liabilities;D a budget which is prepared for a rolling period which is reviewed monthly, and updated accordingly34. Which of the following statements are true about IRRs?(i)IRR considers the time value of money(ii)if the IRR exceeds the companies cost of capital the NPV at the company’s cost ofcapital should be positive(iii)it is possible for one investment to have 2 IRRsA (i) onlyB (i) and (ii) onlyC (ii) and (iii) onlyD (i), (ii) and (iii)35. A company is considering an investment of $400,000 in new machinery. The machinery is expected to yield incremental profits over the next five years as follows:Year Profit ($)1 175,0002 225,0003 340,0004 165,0005 125,000Thereafter, no incremental profits are expected and the machinery will be sold. It is company policy to depreciate machinery on a straight line basis over the life of the asset. The machinery is expected to have a value of $50,000 at the end of year 5. Calculate the payback period of the investment in this machinery to the nearest 0.1 years.A 0.9 yearsB 1.3 yearsC 1.5 yearsD 1.9 years36. Performance standards that have remained unchanged over a long period of time are known as:A deal standardsB current standardsC basic standardsD Attainable standards37. A company has determined that the net present value of an investment project is $17,706 when using a 10% discount rate and $(4,317) when using a discount rate of 15%. Calculate the internal rate of return of the project to the nearest 1%.A 13%B 14%C 15%D 16%38. CC Company is considering an investment of $300,000 which will earn a contribution of $40,000 each year for 10 years at today’s prices. The company’s cost of capital is 11% per annum.Calculate the net present value of the project:A ($64,440)B $23,556C $64,440D $235,56039. The principal budget factor for a footwear retailer is:A The cost item taking the largest share of total expenditure.B The product line contributing the largest amount to sales revenue.C The product line contributing the largest amount to business profits.D The constraint that is expected to limit the retailer’s activities during the budget period40. A process has a normal loss of 10% and budgeted output is 4,500 litres for the period.Opening inventory of raw material is 600 litres and is expected to increase by 20% by the end of the period. The material usage budget is:A 4,500 litresB 5,000 litresC 5,133 litresD 5,120 litres41. Put the stages of the product life cycle in the correct order:(i)Growth(ii)Decline(iii)Maturity(iv)Development(v)IntroductionA (i), (v), (iii), (iv), (ii)B (v), (iv), (i), (iii), (ii)C (iv), (v), (i), (iii), (ii)D (iv), (i), (iv), (iii), (ii)42. Which of the following correlation coefficients indicates the weakest relationship between two variables?A + 1.0B + 0.4C – 0.6D – 1.043. The correlation coefficient (r) for measuring the connection between two variables (x and y) has been calculated as 0.6.How much of the variation in the dependent variable (y) is explained by the variation in the independent variable (x).A 36%B 40%C 60%D 64%44. Charleville operates a continuous process producing three products and one by-product.Output from the process for a month was as follows:Product Selling price per unit Units of output from process1 $18 100002 $25 200003 $20 200004 (by-product) $2 3500Total joint costs were $277,000.What was the unit cost valuation for product 3 using the sales revenue basis for allocating joint costs assuming that the revenue receivable from the by-product is deducted from the joint costs?A $4.70B $4.80C $5.00D $5.1045. In the context of quality costs, customer compensation costs and test equipment running costs would be classified as: Customer compensation costs Test equipment running costA internal failure cost prevention costB internal failure cost appraisal costC external failure cost appraisal costD external failure cost prevention cost46. The selling price of product K is set at $450 for each unit.If the company requires a return of 20% in the coming year on product K, the target cost for each unit for the coming year is:A $300B $360C $400D $45047. Regression analysis is being used to find the line of best fit (y = a + bx) from eleven pairs of data. The calculations have produced the following information:Σx = 440, Σy = 330, Σx2 = 17,986, Σy 2 = 10,366 and Σxy = 13,467.What is the value of ‘b’ in the equation for the line of best fit (to 2 decimal places)?A 0.63B 0.69C 2.33D 5.3348. A time series model of sales volume has the following trend and additive seasonal variation.Trend Y = 5,000 + 4,000 XWhere Y = quarterly sales volume in units.X = the quarter number (Where the first quarter of 2009 = quarter 17, the second quarter of 2009 = quarter 18 etc).Quarter seasonal variationFirst +3000Second +1000Third -1500Fourth -2500What would be the time series forecast of sales units for the third quarter of 2010?A 79,500B 95,500C 97,000D 98,500The following information applies to questions 49 and 50.A company records the following information concerning a product:Standard time allowed per unit 16 munitesActual output in period 720 unitsActual hours worked 180Budgeted hours 18549. What is the labour efficiency ratio?A 93.75%B 97.3%C 102.5%D 106.7%50. What is the labour capacity ratio?A 102.8%B 99.4%C 98.6%D 97.3%。
ACCA F2 Lecture Notes(for student)
F2 Accounting for Management(Revision Notes)Prepare by Jane MaiAccounting for Management1. Data ≠ Information (1.10)Data --- process --> information (meaningful for users)2. Attributes of Good information (1.1 1.5)(a) Accuracy(b) Completeness(c) Cost-effective(d) Understandable (clarity)(e) Relevance(f) Confidence(g) Communication(h) Volume(i) Timing(j) Channel of communication3. Information for Management :Plan （:Control:Decision-making4. Anthony divides Management: (1.2 1.6 1.8 )Strategic Level :Long-term (2~5 years), Top managerTactical level :medium-term (around 1 year), middle managerOperational level : Routine, Operational staff5. The difference between financial accounting and management accounting (1.3 1.7 1.9 )Management Accounting Financial AccountingInformation mainly produced for Internal use: eg. Managers andemployeesExternal use: eg. Shareholders,creditors, lenders, banks,governmentPurpose of information To aid planning, controlling anddecision making To record the financial performance in a period and thefinancial position at the end of thatperiodNature of information Financial & non-financialinformationFinancial informationLegal None Limited companies must producefinancial accountsFormat Decide by the management andthe most useful way of presentingit Format and content of financial accounts intending to give a true and fair view should follow IAS and company lawTime period Historical and forward-looking Mainly a historical record others：（ 1.4 ）Source of Data1. Primary data vs Secondary data (2.1 2.2 2.4 )Primary data Secondary dataDefinition - collect for Specific purpose - collect for some otherpurposeAdvantage - nvestigator knowswhere the data camefrom and is aware ofany inadequacies orlimitation - Accurate and reliable (relative)- Cheap & convenientDisadvantage - Expense - Unaware of anylimitation2. Sampling (2.3 2.5)Sample data :Population:Sampling frame : is a numbered list of all items in a populationSampling methods1.) Probability sampling methodRandom sampling- Free from bias (Equal chance to be selected)Stratified random sampling- divide the population into strata or categories.- requires prior knowledge of each item in the populationSystematic sampling- select every nth item after a random start.- cheap and easy to handle- biasMultistage sampling- divide population into a number of sub-population and then selecting a small sample of these at random.Each sub-population is then divide further and be selected at a random.Cluster sampling- non-random sampling- select one definable subsection of the population as the sample.2.) Non-probability methodQuota sampling- Randomness is forfeited in the interests of cheapness and administrative simplicity- Bias- No need sampling framePresenting information(5.1 ~ 5.4)Simple bar ChartComponent bar chartMultiple (or compound) bar chartPie chartLine graphScatter diagramCost classification and cost behaviorCost unit (3.7 3.12)Cost center ( 3.11)- a function or location for which costs are ascertainedDirect cost (3.1 3.2 3.3 3.9)- Can be traced directlyIndirect cost- Cannot be traced directlyClassified by FunctionProduction costAdministrative costMarketing, selling and distribution cost (3.10)Fixed cost- Unaffected by change in the level of activityVariable cost- Tends to vary with the level of activity.Semi-variable cost- Part fixed and part variableProduction and non-production cost- The distinction between production and non-production costs is the basis of valuing inventoryPeriod cost (3.8)- Not include in the inventory costResponsibility center (3.5 3.6)- Responsible for controllable cost only- Cost center- Revenue center- Profit center- Investment centerCost behavior (4.1 4.3~4.7 4.9 4.12 4.14 4.16) Fixed costVariable costStep fixed costSemi-variable costThe high-low method (4.2 4.8 4.11 4.13 4.15 4.17 4.18)--- Analyzing semi-variable costs into their fixed and variable elements.Material and labor1. Valuation of stockFIFO (6.20)LIFO (6.21)Weighted average (6.22)Relevant documents & their function (6.1)Purchase requisitionGood received note (GRN)Good delivery note (GDN)Invoice2. Inventory control (6.6 6.12)Reorder level (6.3)Reorder quantityMinimum inventory levelMaximum inventory level (6.4 6.16)EOQ (6.5 6.13 6.15 6.19)C0 =D =C h =EBQ (6.7 6.17 6.18)C0 =D =C h =R =Free inventory (6.2)= Physical inventory + units on order from supplier – units outstanding on customer’s orders Average inventory (6.14)Safety inventoryAccounting for laborDirect labor cost vs Indirect labor cost (7.6)Overtime premiumIdle timeBonus payment (7.7 7.10)Labor cost calculation(7.3 7.4 7.5 )Labor turnover(7.9 7.12)Labor efficiency●Efficiency ratio (7.2)= ( Expected hours to produce actual output (std hours) / actual hours to produce output ) X 100%●Capacity ratio (7.1)=( (no. of hours spent working(active production) / total hours available (budgeted) ) x 100%●Production volume ratio= ((expected hours to produce actual output(std hours) / total hours available (budgeted) ) x 100% Accounts treatment (7.8 7.11)Absorption costing and marginal costing1. Absorption costing and process(8.1 ~ 8.24)The three stages of calculating the costs of overheads1. Allocation2. Apportionment3. absorption2.1 apportionmentThe repeated distribution methodThe simultaneous equations method3.1 Three main types of overhead absorption rate- Predetermined overhead absorption rate- Single factory-wide absorption rate- Separate departmental overhead absorption rate3.2 Absorption base (9.8 )3.3 under & over absorbed2. Absorption costing vs Marginal costing (9.1 ~ 9.18)ContributionProduction > sales AC profit > MC profitProduction < Sales AC profit < MC profitDifference in profit = change in inventory level x fixed overhead per unitProcess, Job, batch, service and alternative costingJob costing (10.2 10.3 10.4 10.5 10.14)Batch costing (10.6 )Service costing(10.7 10.8 10.9 10.10 10.11 10.12 10.13 10.15 10.16* Characteristics of service business- Intangibility,- Simultaneity- Perishability- Heterogeneity*Cost unit : Composition unitProcess costing (10.1 11.1~11.15)Normal lossAbnormal lossAbnormal gainEquivalent unitOnly closing WIPBoth Opening and Closing WIP- Weighted average method- The FIFO methodJoint product (12.1 12.2 12.3 12.4 12.5 12.6 12.7) Apportionment methods- Physical weight- Sales value at separation pointBy-product (12.3 12.4 12.5)Alternative costing●Activity based costing (13.1- Cost driver●Life cycle costing (13.2 13.3 13.5 13.6)●Target costing (13.4)Forecasting and budgeting Budget : is a plan of what the organization is aiming to achieve. Forecast : is an estimate of what is likely to occur in the future 1. ForecastLinear regression analysisY=a+ bx (14.2 14.6 14.7 14.8 14.9 )(不用记)Correlation coefficient: the degree of correlation between two variables (14.1 14.4 14.5 14.10)R = +1R= -1R=0Coefficient of determination : measures the proportion of the total variation in the value of one variable that can be explained by variations in the value of the other variable.The reliability of linear regression (14.3)A time series analysis (14.11 14.12 14.13 14.14 14.15 14.16~14.23 14.32)A time seriesFour component of a time series:- Trend- Seasonal variance- Cyclical variance- Random varianceMoving average : finding the trendEvaluating the seasonal variations- Additive model- Multiplicative modelIndex forecast (14.24 ~ 14.28)Others (14.29 14.30 14.31)2. BudgetingObjective of budgeting (15.1)- Co-ordination- Communication- Resource allocation- To ensure the achievement of the organisation’s objectives- To compel planning- To provide framework for responsibility accounting- To establish a system of control- To motivate employees to improve their performanceBudget manualBudget committeeThe Principle budget factor (15.2 16.3 16.4)- Is the factor which limits the activities of an organization- Should be identified at the beginning of the budgetary process and the budget for this is prepared before all others.Function budgets (16.2)- Production budgets (16.5 16.6 16.7 16.8 16.9 16.10 16.11 16.12 16.21 )- Marketing budgets- Sales budgets (16.15 )- Personnel budgets- Purchasing budgets (16.22)- Research and development budgetsCapital budgetsThe master budgets (16.1)- Cash flow budget (16.14 16.16 16.17 16.18 16.19 16.20)- Profit and loss budget- Balance sheet budgetFixed budget and flexed budget (15.3 15.9 15.10 16.13)Spreadsheet (15.4 15.5 15.6 15.7 15.8- Very useful for budgetCapital budget (18.4 )Others (16.23 16.24 )Budgetary control (17.6)- Is a cost which can be influenced by its budget holderParticipative approach vs Top-down approach (17.1 17.3 17.4 17.5 - Their individual limitation and advantageBudget as motivation (17.2)Capital investment appraisal1. Interest RateSimple interestCompound interest （19.1 19.2 19.3 19.7）- Both of interest and principal will get the interest.Nominal rate ←→ effective annual rate of interest (19.5 19.8 19.20 19.23) - Formula : (1+r) n = 1+R2．Cash flow method for project analysisRelevant cost (18.1 18.2 18.3)Irrelevant costNet present value method （19.4 19.17 19.24**）- Consider “time value of money”- Positive NPV --- > project acceptableNegative NPV -→project unacceptable- Example 5Internal rate of return (19.6 19.12 19.16 19.18)- Formula:- At the point of IRR, NPV = 0- IRR > rate of capital -- > accept the projectIRR < rate of capital -- > reject the projectAnnuity (19.9 19.10)- 每年都有一笔等额收入- Example 6：4.968 = 0.893 + 0.797 + 0.712 +。
ACCA F阶段考试科目之间的联系
在F1这门课中，会简单教大家用一些模型去分析企业所处的内部以及外部环境，以及职业道德，企业社会责任的简单介绍，而在SBL课程中，将会把这些知识点深入并细化地讲解，比如分析内外部环境之后企业将如何面对环境的变化，在专业层面上更偏战略，以及在公司治理，财务从业人员的职业道德中做了更深入的介绍。
但ACCA考试规则做了限制，你没法同时报考F1与SBL，中间还隔着F4-F9 6门技能课程。
所以你能做的就是打好基础。
对于备考SBL，F1的知识点是大量的基础知识，所以要注意在考过F1之后不要把所学的知识点还给老师哦。
F4和F8则以知识点琐碎的文字类考试，需要考生在理解知识点的同时大量记忆背诵。
因此在选择时避免和F4《CorporateandBusinesslaw》以及F8《AuditandAssurance》同时备考，增加记忆难度。
但是推荐在相邻两个考季中参加考试，因为risk，internalaudit内容有重叠的，侧重点不同，识记内容有重叠部分；F8学得很扎实的可以继续学习后面的SBL或者选修高级审计与鉴证《AdvancedAuditandAssurance(AAA)》。
F2、F5、F9之间奇妙的联系F2《ManagementAccounting》是F5业绩管理《PerformanceManagement》和选修高级业绩管理《AdvancedPerformanceManagement》的基础。
课程涉及管理会计与财务会计的区别，涵盖：管理会计，管理信息，成本会计，预算和标准成本，业绩衡量，短期决策方法。
F5和F2可以考虑先后或者同时学习，在相邻考季中备考，F2中的variance，在F5中更加灵活。
先学F2，再看F5，F2比较简单，很多常识的知识，为F5打好基础，又可以加深对F2的理解。
在这两个学科中ACCA小伙伴们将会学到：如何处理基本的成本信息，并能向管理层提供能用作预算和决策的信息。
同时F9科目又是F5升级版，但是RATIO部分是一样的；所以可以F5和F9也可以一起考。
ACCA F2
Course Notes 2016 Exams September 15 – June 17 ACCAPaper F2 - 双语讲义Management Accounting管理会计Tutor details2 Intro ductio n ACCA F 2No part of this publication may be reproduced, stored in a retrieval systemor transmitted, in any form or by any means, electronic, mechanical,photocopying, recording or otherwise, without the prior written permissionof First Intuition Publishing Ltd.Any unauthorised reproduction or distribution in any form is strictlyprohibited as breach of copyright and may be punishable by law.© First Intuition Publishing Ltd, 2015ACCA F 2Intro ductio n 3ContentsPageIntroduction 1Contents 31Course structure 52Course materials 53Qualification structure 64The exam 65Question types 76Exam tips 77How to study F2 88Study planner 91: Nature, source and purpose of management information 131Accounting for management 132Sources of data 153Cost classification 174Presenting information 262: Cost accounting techniques 331Accounting for material, labour and overheads 332Absorption and marginal costing 533Cost accounting methods 574Alternative cost accounting 703: Budgeting 751Nature and purpose of budgeting 752Statistical techniques 773Budget preparation 904Flexible budgets 975Capital budgeting and discounted cash flows 986Budgetary control and reporting 1107Behavioural aspects of budgeting 1134: Standard costing 1171Standard costing systems 1172Variance calculations and analysis 1183Reconciliation of budgeted and actual profit 1265: Performance measurement 1291Performance measurement overview 1292Performance measurement – application 1313Cost reductions and value enhancement 1414Monitoring performance and reporting 1424 Intro ductio n ACCA F 2Solutions to lecture examples 145Chapter 1 145 Chapter 2 146 Chapter 3 156 Chapter 4 164 Chapter 5 167Formulae sheets 169ACCA F 2Intro ductio n 5 1Course structureHome Study Introduction – How to Study F2To get off to the best possible start, we recommend you contact your tutor once you have receivedyour study materials. Your tutor will explain how to tackle your studies and get you started on yourfirst Study Session.If you prefer to get started straight away you should read “How to Study F2” below.Study sessionsThis study guide breaks down the syllabus into manageable study sessions, following the syllabus, andnumbered in accordance with the chapters in the Study notes. We tell you which chapters to read, andthen which questions to attempt from the Question Bank.It is not enough just to read the study notes. You must practise questions from the Question Bank asrecommended in each study session. The questions in the Question Bank are the same style as thosein the real exam and will give you exposure to all the possible pitfalls.It is better to attempt them as you go along, when the subject matter is fresh in your mind. You shouldcheck your answers with the answers and make sure you understand the suggested answer for anyquestions you get wrong.Revision sessionsWhen you have completed all the study sessions you should spend some time revising the core topicsWhen you are getting most of these right you are ready to attempt the Mock exam. If at all possibleyou should attempt this under real exam conditions, i.e. to the correct time and with no distractions.You can always come and sit your exam at First Intuition – just call your tutor to arrange a convenienttime.When you have completed the Mock you should check your answers. Make a note of any you getwrong and look at the model solution where given. If you still have any problems call your tutor orcome and see us for some final advice. If you score at least 60% in the Mock then you should be readyto take the real exam.2Course materialsYou will receive the following:First Intuition study notesFirst Intuition Question BankPasscards*Online Study Text (in conjunction with Kaplan EN-Gage)*produced by BPP Learning Media6 Intro ductio n ACCA F 23Qualification structureThe ACCA qualification is structured as follows.Fundamentals Level Knowledge Module F1 AB The Accountant in Business F2 MA Management Accounting F3 FA Financial AccountingFundamentals Level Skills Module F4 CL Corporate LawF5 PM Performance ManagementF6 TX TaxationF7 FR Financial ReportingF8 AA Audit & AssuranceF9 FM Financial Management Professional Level Essentials Module P1 PA Professional AccountantP2 CR Corporate ReportingP3 BA Business AnalysisProfessional Level Options Module (any two of these papers) P4 AFM Advanced Financial ManagementP5 APM Advanced Performance Management P6 ATX Advanced TaxationP7 AAA Advanced Audit & AssuranceAll papers are compulsory unless you gain exemptions from a relevant qualification. The modules must be attempted in the correct order, though you can sit the papers in any order. A maximum of fourpapers can be taken in any one exam sitting. Exams are in June and December each year. TheKnowledge Module subjects are examined by computer-based assessment and can be attempted atany time.4The examF2 is a two-hour computer-based or paper based examination.The paper is in two sectionsSection A contains 35 objective test questions. Each question is worth 2 marks (70 marks intotal)Section B contains 3 multi-task questions. Each question is worth 10 marks (30 marks in t otal).Multi task questions are a new question type which is being introduced in 2014. This newquestion type is explained more fully below.All questions are compulsory.The paper has a pass mark of 50%.ACCA F 2Intro ductio n 75 Question typesThe F2 exam consists of the following types of question: Objective test (OT) –These are single, short, automatically marked questions.Multiple task questions (MTQ) – These questions contain a series of tasks which relate t o one or more scenarios.The types of question that may be included are as follows:OT MTQMultiple Choice You are required to choose one answer from a list of options by clicking on the appropriate radio buttonMultiple Response You are required to select more than one response from the options provided by clicking the appropriate tick boxes Multiple Response Matching You are required to select a response to a number of related statements by clicking on the radio button whichcorresponds to the appropriate response for each statement Number Entry You are required to key in a numerical response to the questionGapfill You are required to enter answers into blank areas Hot SpotYou are required to choose one or more answers by clicking on the appropriate hotspot area/ areas on an imageEach of the above types of question are included in the companion Question Bank. Examples of each of the question types and how they are marked can also be found on the ACCA’s website at Specimen examThe ACCA’s specimen exam reflecting the new exam formats and incorporating all question types, is included in this Question Bank.6 Exam tipsRead the requirement very carefully . With calculation questions there are many opportunities for your examiner to confuse you or try and catch you out. It will be very easy to arrive at a result that is one of the options available.Manage your time . You have an average of 2 minutes and 24 seconds per question. S ome will take longer than others, particularly those that involve calculating a numerical answer. So if you get stuck on a question, make a note of the question number and move on. If you have time at the end of the exam you can go back and tackle the tricky questionsYou may be asked to choose one or more correct statements from a given list. Read each statement carefully. If you are unsure about one or more of them, move on and deal with the statements you do agree with. You may find the correct answer by process of elimination without needing to revisit the statements you are unsure about. In any event you should certainly be able to narrow down your choices.If you think you will run out of time, stop five minutes before the end and guess any remaining answers – remember you have a one in four chance of getting those questions right which could make the difference between a pass and a fail.8 Intro ductio n ACCA F 2 7How to study F2Plan your study timeGet your diary out and decide when, where and how often you want to study. If you followed a FirstIntuition course you would receive a minimum of five full days tuition, and be expected to doadditional work at home. Studying on your own is harder and will take longer. You should expect tospend at least 3 hours studying per week. On this basis it should take approximately two months tolearn the study material, then you should allow additional time for revision and final question practice.Most students should be ready to take the exam 3 months after commencing their studies.Set a target date for the examThis is very important with computer-based exams. If you don’t set a target there is a danger that you will spread your study time over too long a period, will lose momentum or simply not get around totaking the exam. When you set your target bear in mind how you wish to progress through thesyllabus, as from paper F4 onwards you are tied to the paper-based exam sittings in June andDecember. For example, if you wish to progress to the Skills level papers for a December sitting youshould complete your computer-based exams by 31 July.Make the most out of your study sessionsTry and complete each study session in one go so that you learn each topic in turn. Some sessions are longer than others, but make sure you take a break between sessions.Read the ACCA study guide at the start of each session so you know the learning outcomes for thatparticular session. Check the tutor tips for advice on how to tackle questions or which areas focus on.Then read the relevant chapter of the course notes.It is essential that you try the questions from the Question Bank where indicated. You will not passthe exam if you don’t attempt the questions. Check your answers and make sure you understand the workings for any that you get wrong. Often you will find that you got the wrong answer because youdidn’t read the question properly – the examiner does like to try and catch you out! If you get stuckgive your tutor a call and ask for advice.RevisionYou should attempt the additional question banks for each of the revision sessions as well as re-reading the study notes. When you are getting at least half of the questions right you are ready toattempt the Mock Exam. If you achieve at least 60% in the Mocks then you should be ready to attempt the real exam.The real examWhen are ready to attempt the real exam give us a call to arrange your CBE (or contact your nearestCBE centre). We hold weekly exam sessions but will do our best to be flexible so you can sit the examat a time that suits you.ACCA F 2Intro ductio n 9 8Study planner10 Intro ductio n ACCA F 2ACCA F 2Intro ductio n 118.1 Practical Experience Requirements (PER) and Performance ObjectivesACCA requires students to have 36 months’ practical experience in order to become members. Part ofthe practical experience requirements is achieving performance objectives that demonstrate that youcan apply what you’ve learnt when studying to real-life, work activities.ACCA has set out 20 performance objectives in 9 areas. You are required to achieve 13 performanceobjectives – all 9 Essentials performance objectives and any 4 Options performance objectives. ACCAhas provided guidance on which objectives are strongly linked to which exam. The relevant objectivesfor F2, which comprise Essentials and Options objectives, are:Manage self (relevant for all exams)(5)Communicate effectively (relevant for all exams)(6)Use information and communications technology (relevant for all exams)(12)Prepare financial information for management (relevant for F2, F5 and P5)(13)Contribute to budget planning and production (relevant for F2, F5 and P5)(14)Monitor and control budgets (relevant for F2, F5 and P5)No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of First Intuition Publishing Ltd.Any unauthorised reproduction or distribution in any form is strictly prohibited as breach of copyright and may be punishable by law.© First Intuition Publishing1 Accounting for management(a)Describe the purpose and role of cost and management accounting within an organisation.(b)Compare and contrast financial accounting with cost and management a ccounting.The purpose of cost and management accounting is to assist the management in running theirbusiness to achieve its overall plans, make the correct decisions and to control the business.1 管理会计(a)描述组织内部成本会计和管理会计的目的与作用。
2014年6月ACCA F2考试真题
Fundamentals Level – Knowledge Module Management AccountingSpecimen Exam applicable from June 2014Time allowed: 2 hoursThis paper is divided into two sections:Section A – ALL 35 questions are compulsory and MUSTbe attemptedSection B – ALL THREE questions are compulsory and MUSTbe attemptedFormulae Sheet, Present Value and Annuity Tables are onpages 16, 17 and 18.Do NOT open this paper until instructed by the supervisor.This question paper must not be removed from the examination hall. The Association of Chartered Certified AccountantsSection A – ALL 35 questions are compulsory and MUST be attemptedPlease use the space provided on the inside cover of the Candidate Answer Booklet to indicate your chosen answer to each multiple choice question.Each question is worth 2 marks.1 A manufacturing company benchmarks the performance of its accounts receivable department with that of a leadingcredit card company.What type of benchmarking is the company using?A B C D Internal benchmarking Competitive benchmarking Functional benchmarking Strategic benchmarking2 3 Which of the following BEST describes target costing?ABCDSetting a cost by subtracting a desired profit margin from a competitive market price Setting a price by adding a desired profit margin to a production costSetting a cost for the use in the calculation of variancesSetting a selling price for the company to aim for in the long runInformation relating to two processes (F and G) was as follows:Process Normal loss as% of inputInput(litres)Output(litres)FG8565,00037,50058,90035,700For each process, was there an abnormal loss or an abnormal gain?Process F Process GABCDAbnormal gainAbnormal gainAbnormal lossAbnormal lossAbnormal gainAbnormal lossAbnormal gainAbnormal loss4 The following budgeted information relates to a manufacturing company for next period:Units $Production Sales 14,00012,000Fixed production costsFixed selling costs63,00012,000The normal level of activity is 14,000 units per period.Using absorption costing the profit for next period has been calculated as $36,000. What would be the profit for next period using marginal costing?A B C D $25,000$27,000$45,000$47,00025 The Eastland Postal Service is government owned. The government requires it to provide a parcel delivery service toevery home and business in Eastland at a low price which is set by the government. Express Couriers Co is a privately owned parcel delivery company that also operates in Eastland. It is not subject to government regulation and most of its deliveries are to large businesses located in Eastland’s capital city. You have been asked to assess the relative efficiency of the management of the two organisations.Which of the following factors should NOT be allowed for when comparing the ROCE of the two organisations to assess the efficiency of their management?A B C D Differences in prices charged Differences in objectives pursued Differences in workforce motivation Differences in geographic areas served6 Under which sampling method does every member of the target population has an equal chance of being in thesample?A B C D Stratified sampling Random sampling Systematic sampling Cluster sampling7 A Company manufactures and sells one product which requires 8 kg of raw material in its manufacture. The budgeteddata relating to the next period are as follows:UnitsSalesOpening inventory of finished goods Closing inventory of finished goods 19,000 4,000 3,000KgOpening inventory of raw materials Closing inventory of raw materials 50,000 53,000What is the budgeted raw material purchases for next period (in kg)?A B C D 141,000147,000157,000163,0003 [P.T.O.8 Up to a given level of activity in each period the purchase price per unit of a raw material is constant. After that pointa lower price per unit applies both to further units purchased and also retrospectively to all units already purchased.Which of the following graphs depicts the total cost of the raw materials for a period?$ $A B0 0$ $C D0 0A B C D Graph A Graph B Graph C Graph D9 Which of the following are benefits of budgeting?1 2 3 4 It helps coordinate the activities of different departments It fulfils legal reporting obligationsIt establishes a system of controlIt is a starting point for strategic planningA B C D 1 and 4 only1 and 3 only2 and3 only 2 and4 only10 The following statements relate to the participation of junior management in setting budgets:1.2.3. It speeds up the setting of budgetsIt increases the motivation of junior managers It reduces the level of budget paddingWhich statements are true?A B C D 1 only2 only2 and3 only1, 2 and 3411 A company has a capital employed of $200,000. It has a cost of capital of 12% per year. Its residual income is$36,000.What is the company’s return on investment?A B C D 30% 12% 18% 22%12 A company has calculated a $10,000 adverse direct material variance by subtracting its flexed budget direct materialcost from its actual direct material cost for the period.Which of the following could have caused the variance?(1) An increase in direct material prices(2) An increase in raw material usage per unit(3) Units produced being greater than budgeted(4) Units sold being greater than budgetedA B C D 2 and 3 only3 and4 only 1 and 2 only 1 and 4 only13 A company has recorded the following variances for a period:Sales volume variance Sales price variance Total cost variance $10,000 adverse $5,000 favourable $12,000 adverseStandard profit on actual sales for the period was $120,000. What was the fixed budget profit for the period?A B C D $137,000 $103,000 $110,000 $130,00014 Which of the following are suitable measures of performance at the strategic level?(1) Return on investment(2) Market share(3) Number of customer complaintsA B C D 1 and 22 only2 and 31 and 35 [P.T.O.15 Which of the following are feasible values for the correlation coefficient?1 2 3 4 +1·40 +1·04 0–0·94A B C D 1 and 2 only3 and4 only 1, 2 and 4 only 1, 2, 3 and 416 A company’s operating costs are 60% variable and 40% fixed.Which of the following variances’ values would change if the company switched from standard marginal costing to standard absorption costing?A B C D Direct material efficiency variance Variable overhead efficiency variance Sales volume varianceFixed overhead expenditure variance17 ABC Co has a manufacturing capacity of 10,000 units. The flexed production cost budget of the company is asfollows:Capacity 60% 100%Total production costs $11,280 $15,120What is the budgeted total production cost if it operates at 85% capacity?A B C D $13,680 $12,852 $14,025 $12,34018 Using an interest rate of 10% per year the net present value (NPV) of a project has been correctly calculated as $50.If the interest rate is increased by 1% the NPV of the project falls by $20.What is the internal rate of return (IRR) of the project?A B C D 7·5%11·7%12·5%20·0%619 A factory consists of two production cost centres (P and Q) and two service cost centres (X and Y). The total allocatedand apportioned overhead for each is as follows:P Q X Y $95,000 $82,000 $46,000 $30,000It has been estimated that each service cost centre does work for other cost centres in the following proportions: P 50 30Q 50 60X – 10Y – –Percentage of service cost centre X to Percentage of service cost centre Y toThe reapportionment of service cost centre costs to other cost centres fully reflects the above proportions. After the reapportionment of service cost centre costs has been carried out, what is the total overhead for production cost centre P? A B C D$124,500 $126,100 $127,000 $128,50020 A company always determines its order quantity for a raw material by using the Economic Order Quantity (EOQ)model.What would be the effects on the EOQ and the total annual holding cost of a decrease in the cost of ordering a batch of raw material? EOQ Annual holding cost Lower Higher Higher LowerA B C D Higher Higher Lower Lower21 A company which operates a process costing system had work-in-progress at the start of last month of 300 units(valued at $1,710) which were 60% complete in respect of all costs. Last month a total of 2,000 units werecompleted and transferred to the finished goods warehouse. The cost per equivalent unit for costs arising last month was $10. The company uses the FIFO method of cost allocation.What was the total value of the 2,000 units transferred to the finished goods warehouse last month? A B C D$19,910 $20,000 $20,510 $21,71022 A manufacturing company operates a standard absorption costing system. Last month 25,000 production hours werebudgeted and the budgeted fixed production cost was $125,000. Last month the actual hours worked were 24,000 and standard hours for actual production were 27,000.What was the fixed production overhead capacity variance for last month? A B C D$5,000 Adverse $5,000 Favourable $10,000 Adverse $10,000 Favourable7 [P .T.O.23 The following statements have been made about value analysis.(1) It seeks the lowest cost method of achieving a desired function(2) It always results in inferior products(3) It ignores esteem valueWhich is/are true ?A B C D 1 only2 only3 only1 and 3 only24 Under which of the following labour remuneration methods will direct labour cost always be a variable cost?A B C D Day ratePiece rate Differential piece rate Group bonus scheme25 A company manufactures and sells a single product. In two consecutive months the following levels of production andsales (in units) occurred:Month 1 3,800 Month 2 4,400SalesProduction 3,900 4,200The opening inventory for Month 1 was 400 units. Profits or losses have been calculated for each month using both absorption and marginal costing principles.Which of the following combination of profits and losses for the two months is consistent with the above data?Absorption costing profit/(loss) Marginal costing profit/(loss)Month 1$ Month 2$Month 1$Month 2$A B C D200(400)2004,4004,4003,2003,200(400)200(400)2003,2003,2004,4004,400 (400)26 The following statements relate to the advantages that linear regression analysis has over the high low method in theanalysis of cost behaviour:1.2.3. the reliability of the analysis can be statistically tested it takes into account all of the datait assumes linear cost behaviourWhich statements are true?A B C D 1 only1 and2 only2 and3 only1, 2 and 3827 A company operates a process in which no losses are incurred. The process account for last month, when there wasno opening work-in-progress, was as follows:Process Account$ $ Costs arising 624,000 Finished output (10,000 units) 480,000Closing work-in-progress (4,000 units) 144,000––––––––––––––––624,000 624,000––––––––––––––––The closing work in progress was complete to the same degree for all elements of cost.What was the percentage degree of completion of the closing work-in-progress?A B C D 12% 30% 40% 75%28 Which of the following would not be expected to appear in an organisation’s mission statement?A B C D The organisation’s values and beliefsThe products or services offered by the organisation Quantified short term targets the organisation seeks to achieve The organisation’s major stakeholders29 An organisation operates a piecework system of remuneration, but also guarantees its employees 80% of a time-basedrate of pay which is based on $20 per hour for an eight hour working day. Three minutes is the standard time allowed per unit of output. Piecework is paid at the rate of $18 per standard hour.If an employee produces 200 units in eight hours on a particular day, what is the employee’s gr oss pay for that day?A B C D $128 $144 $160 $18030 A company uses an overhead absorption rate of $3·50 per machine hour, based on 32,000 budgeted machine hoursfor the period. During the same period the actual total overhead expenditure amounted to $108,875 and 30,000 machine hours were recorded on actual production.By how much was the total overhead under or over absorbed for the period?A B C D Under absorbed by $3,875Under absorbed by $7,000Over absorbed by $3,875Over absorbed by $7,0009 [P.T.O.31 Which of the following statements relating to management information are true?1.2.3.4. It is produced for parties external to the organisationThere is usually a legal requirement for the information to be produced No strict rules govern the way in which the information is presentedIt may be presented in monetary or non monetary termsA B C D 1 and 2 3 and 41 and 32 and 432 A company’s sales in the last year in its three different markets were as follows$Market 1 Market 2 Market 3 100,000 150,000 50,000 ––––––––Total 300,000––––––––In a pie chart representing the proportion of sales made by each region what would be the angle of the section representing Market 3 (to the nearest whole degree)?A B C D 17 degrees 50 degrees 61 degrees 120 degrees33 Which of the following BEST describes a flexible budget?A B C D A budget which shows variable production costs onlyA monthly budget which is changed to reflect the number of days in the monthA budget which shows sales revenue and costs at different levels of activityA budget that is updated halfway through the year to incorporate the actual results for the first half of the year34 The purchase price of an item of inventory is $25 per unit. In each three month period the usage of the item is20,000 units. The annual holding costs associated with one unit equate to 6% of its purchase price. The cost of placing an order for the item is $20.What is the Economic Order Quantity (EOQ) for the inventory item to the nearest whole unit?A B C D 7308941,4611,633.1035 Two products G and H are created from a joint process. G can be sold immediately after split-off. H requires furtherprocessing into product HH before it is in a saleable condition. There are no opening inventories and no work in progress of products G, H or HH. The following data are available for last period:$Total joint production costsFurther processing costs of product H 350,000 66,000Product Productionunits420,000330,000Closing inventory 20,000 30,000GHHUsing the physical unit method for apportioning joint production costs, what was the cost value of the closing inventory of product HH for last period?A B C D $16,640$18,625$20,000$21,600(70 marks)11 [P.T.O.Section B – ALL THREE questions are compulsory and MUST be attempted1 Cab Co owns and runs 350 taxis and had sales of $10 million in the last year. Cab Co is considering introducing anew computerised taxi tracking system.The expected costs and benefits of the new computerised tracking system are as follows:(i) The system would cost $2,100,000 to implement.(ii) (iii) Depreciation would be provided at $420,000 per annum.$75,000 has already been spent on staff training in order to evaluate the potential of the new system. Further training costs of $425,000 would be required in the first year if the new system is implemented.(iv) Sales are expected to rise to $11 million in Year 1 if the new system is implemented, thereafter increasing by 5% per annum. If the new system is not implemented, sales would be expected to increase by $200,000 per annum.(v) Despite increased sales, savings in vehicle running costs are expected as a result of the new system. These are estimated at 1% of total sales.(vi) Six new members of staff would be recruited to manage the new system at a total cost of $120,000 per annum. (vii) Cab Co would have to take out a maintenance contract for the new system at a cost of $75,000 per annum for five years.(viii) Interest on money borrowed to finance the project would cost $150,000 per annum.(ix) Cab Co’s cost of capital is 10% per annum.Required:(a) State whether each of the following items are relevant or irrelevant cashflows for a net present value (NPV)evaluation of whether to introduce the computerised tracking system.(i) Computerised tracking system investment of $2,100,000;(ii) Depreciation of $420,000 in each of the five years;(iii) Staff training costs of $425,000;(iv) New staff total salary of $120,000 per annum;(v) Staff training costs of $75,000;(vi) Interest cost of $150,000 per annum.Note: The following mark allocation is provided as guidance for this requirement:(i) 0·5 marks(ii) 1 mark(iii) 0·5 marks(iv) 1 mark(v) 1 mark(vi) 1 mark(5 marks)(b) Calculate the following values if the computerised tracking system is implemented.(i) Incremental sales in Year 1;(ii) Savings in vehicle running costs in Year 1;(iii) Present value of the maintenance costs over the life of the contract.Note: The following mark allocation is provided as guidance for this requirement:(i) 1 mark(ii) 0·5 marks(iii) 1·5 marks(3 marks)12(c) Cab Co wishes to maximise the wealth of its shareholders. It has correctly calculated the following measures forthe proposed computerised tracking system project:–––The internal rate of return (IRR) is 14%,The return on average capital employed (ROCE) is 20% and The payback period is four years.Required:Which of the following is true?A B C D The project is worthwhile because the IRR is a positive valueThe project is worthwhile because the IRR is greater than the cost of capitalThe project is not worthwhile because the IRR is less than the ROCEThe project is not worthwhile because the payback is less than five years (2 marks)(10 marks)13 [P.T.O.2 Castilda Co manufactures toy robots. The company operates a standard marginal costing system and values inventoryat standard cost.The following is an extract of a partly completed spreadsheet for calculating variances in month 1.Required:(a) Which formula will correctly calculate the direct labour efficiency variance in cell B18?A B C D = (C9*C4)- B13=B13-(C9*C4)= (C9*C4)- (150,000*8)=(150,000-(C9*6))*8 (2 marks)(5 marks)(b) Calculate the following for month 1:Sales volume variance and state whether it is favourable or adverse;(i)(ii) Sales price variance and state whether it is favourable or adverse.Note: The total marks will be split equally between each part.(c) Castilda’s management accountant thinks that the direct labour rate and efficiency variances for Month 1 couldbe interrelated.Required:Briefly explain how the two direct labour variances could be interrelated. (3 marks)(10 marks)143 Nicholson Co sells mobile telephones. It supplies its customers with telephones and wireless telephone connections.Customers pay an annual fee plus a monthly charge based on calls made.The company has recently employed a consultant to install a balanced scorecard system of performance measurement and to benchmark the results against those of Nicholson Co’s competitors. Unfortunately the consultant was called away before the work was finished. You have been asked to complete the work. The following data is available.Nicholson CoOperating data for the year ended 30 November 2013Sales revenueSales attributable to new products Average capital employed $480 million $8 million $192 million $48 million 1,960,00010,000Profit before interest and taxAverage numbers of customersAverage number of telephones returned for repair each dayNumber of bill queries 12,000Number of customer complaintsNumber of customers lostAverage number of telephones unrepaired at the end of each day21,600 117,600804Required:(a) Calculate the following ratios and other statistics for Nicholson Co for the year ended 30 November 2013.Return on capital employed;(i)(ii) Return on sales (net profit percentage);(iii) Asset turnover;(iv) Average wait for telephone repair (in days);(v) Percentage of customers lost per annum;(vi) Percentage of sales attributable to new products.Note: The following mark allocation is provided as guidance for this requirement:(i) 1·5 marks(ii) 1·5 marks(iii) 1·5 marks(iv) 1·5 marks(v) 1 mark(vi) 1 mark(8 marks)(c) A balanced scorecard measures performance from four perspectives: customer satisfaction, growth, financialsuccess and process efficiency.Required:Briefly explain any ONE of the four perspectives above. (2 mark)(10 marks)15 [P.T.O.Formulae Sheet Regression analysisy = a + bxEconomic order quantity2C 0D C hEconomic batch quantity2C 0D C h (1–DR)16Present Value TablePresent value of 1 i.e. (1 +r)–nWhere r = discount raten = number of periods until paymentDiscount rate (r)Periods(n) 1% 2% 3% 4% 5% 6% 7% 8% 9% 10%12345 0·9900·9800·9710·9610·9510·9800·9610·9420·9240·9060·9710·9430·9150·8880·8630·9620·9250·8890·8550·8220·9520·9070·8640·8230·7840·9430·8900·8400·7920·7470·9350·8730·8160·7630·7130·9260·8570·7940·7350·6810·9170·8420·7720·7080·6500·9090·8260·7510·6830·62112345678910 0·9420·9330·9230·9410·9050·8880·8710·8530·8370·8200·8370·8130·7890·7660·7440·7900·7600·7310·7030·6760·7460·7110·6770·6450·6140·7050·6650·6270·5920·5580·6660·6230·5820·5440·5080·6300·5830·5400·5000·4630·5960·5470·5020·4600·4220·5640·5130·4670·4240·3866789101112131415 0·8960·8870·8790·8700·8610·8040·7880·7730·7580·7430·7220·7010·6810·6610·6420·6500·6250·6010·5770·5550·5850·5570·5300·5050·4810·5270·4970·4690·4420·4170·4750·4440·4150·3880·3620·4290·3970·3680·3400·3150·3880·3560·3260·2990·2750·3050·3190·2900·2630·2391112131415(n) 11% 12% 13% 14% 15% 16% 17% 18% 19% 20%12345 0·9010·8120·7310·6590·5930·8930·7970·7120·6360·5670·8850·7830·6930·6130·5430·8770·7690·6750·5920·5190·8700·7560·6580·5720·4970·8620·7430·6410·5520·4760·8550·7310·6240·5340·4560·8470·7180·6090·5160·4370·8400·7060·5930·4990·4190·8330·6940·5790·4820·40212345678910 0·5350·4820·4340·3910·3520·5070·4520·4040·3610·3220·4800·4250·3760·3330·2950·4560·4000·3510·3080·2700·4320·3760·3270·2840·2470·4100·3540·3050·2630·2270·3900·3330·2850·2430·2080·3700·3140·2660·2250·1910·3520·2960·2490·2090·1760·3350·2790·2330·1940·1626789101112131415 0·3170·2860·2580·2320·2090·2870·2570·2290·2050·1830·2610·2310·2040·1810·1600·2370·2080·1820·1600·1400·2150·1870·1630·1410·1230·1950·1680·1450·1250·1080·1780·1520·1300·1110·0950·1620·1370·1160·0990·0840·1480·1240·1040·0880·0740·1350·1120·0930·0780·065111213141517 [P.T.O.Annuity Table1 – (1 + r)–nPresent value of an annuity of 1 i.e. ————––rWhere r = discount raten = number of periodsDiscount rate (r)Periods(n) 1% 2% 3% 4% 5% 6% 7% 8% 9% 10%12345 0·9901·9702·9413·9024·8530·9801·9422·8843·8084·7130·9711·9132·8293·7174·5800·9621·8862·7753·6304·4520·9521·8592·7233·5464·3290·9431·8332·6733·4654·2120·9351·8082·6243·3874·1000·9261·7832·5773·3123·9930·9171·7592·5313·2403·8900·9091·7362·4873·1703·79112345678910 5·7956·7287·6528·5669·4715·6016·4727·3258·1628·9835·4176·2307·0207·7868·5305·2426·0026·7337·4358·1115·0765·7866·4637·1087·7224·9175·5826·2106·8027·3604·7675·3895·9716·5157·0244·6235·2065·7476·2476·7104·4865·0335·5355·9956·4184·3554·8685·3355·7596·1456789101112131415 10·3711·2612·1313·0013·879·78710·5811·3512·1112·859·2539·95410·6311·3011·948·7609·3859·98610·5611·128·3068·8639·3949·89910·387·8878·3848·8539·2959·7127·4997·9438·3588·7459·1087·1397·5367·9048·2448·5596·8057·1617·4877·7868·0616·4956·8147·1037·3677·6061112131415(n) 11% 12% 13% 14% 15% 16% 17% 18% 19% 20%12345 0·9011·7132·4443·1023·6960·8931·6902·4023·0373·6050·8851·6682·3612·9743·5170·8771·6472·3222·9143·4330·8701·6262·2832·8553·3520·8621·6052·2462·7983·2740·8551·5852·2102·7433·1990·8471·5662·1742·6903·1270·8401·5472·1402·6393·0580·8331·5282·1062·5892·99112345678910 4·2314·7125·1465·5375·8894·1114·5644·9685·3285·6503·9984·4234·7995·1325·4263·8894·2884·6394·9465·2163·7844·1604·4874·7725·0193·6854·0394·3444·6074·8333·5893·9224·2074·4514·6593·4983·8124·0784·3034·4943·4103·7063·9544·1634·3393·3263·6053·8374·0314·1926789101112131415 6·2076·4926·7506·9827·1915·9386·1946·4246·6286·8115·6875·9186·1226·3026·4625·4535·6605·8426·0026·1425·2345·4215·5835·7245·8475·0295·1975·3425·4685·5754·8364·9885·1185·2295·3244·6564·7934·9105·0085·0924·4864·6114·7154·8024·8764·3274·4394·5334·6114·6751112131415End of Question Paper18。
F2.ManagementaccountingF2-Chapter6
Ji Weili, JXUFE
4
Inventory Categories
Merchandise Inventory Goods acquired for resale
Manufacturing Inventory Raw materials(原材料） Work in process（在产品） Finished goods（产成品） Spare parts/consumables（备品备件）
Ji Weili, JXUFE
9
Order, receipt and issue of raw materials
Materials Requisition Note(领料单)– What information must be recorded on it?
Materials Transfer Note(转用单) & Materials Returned Note(退料单)
Paper F2
Management Accounting
1
Chapter 6 Accounting for materials
2
Chapter Preview
Accounting for materials
Inventroy control system
Ordering & receiving Storage
Ji Weili, JXUFE
5
The importance of inventories
Typically represent the largest current asset of manufacturing
and retail firms.
For many companies inventories are a significant portion of total assets as well.
part 1-1
F2 Management Accounting ACCAF2 Management Accounting –Part 1INDEXTask 1.Accounting for management (4)Task rmation (7)Task 3.Presenting information (15)Task 4.Cost classification (22)Task 5.Linear assumption and cost forecasting (27)Task 6.Accounting for material (37)Task 7.Accounting for labour (56)Task 8.Accounting for overhead .......................... Error! Bookmark not defined. Task 9.Absorption rate ......................................... Error! Bookmark not defined. Task 10.Absorption and Marginal Costing ............. Error! Bookmark not defined. Task 11.Job and batch costing ............................... Error! Bookmark not defined. Task 12.Process costing .......................................... Error! Bookmark not defined. Task 13.Equivalent unit .......................................... Error! Bookmark not defined. Task 14.Joint Products & By product ..................... Error! Bookmark not defined. Task 15.Service costing .......................................... Error! Bookmark not defined. Task 16.Alternative cost accounting ...................... Error! Bookmark not defined. Task 17.Budgeting .................................................. Error! Bookmark not defined. Task 18.Budget preparation ................................... Error! Bookmark not defined. Task 19.Behavioural aspects of budgeting............. Error! Bookmark not defined. Task 20.Flexible budget .......................................... Error! Bookmark not defined. Task 21.Capital budgeting ...................................... Error! Bookmark not defined. Task 22.Discounted cash flow ................................ Error! Bookmark not defined. Task 23.Budgetary control and reporting .............. Error! Bookmark not defined. Task 24.Statistical techniques ................................ Error! Bookmark not defined. Task 25.Forecasting and indices ............................. Error! Bookmark not defined. Task 26.Variance –Part 1 ........................................ Error! Bookmark not defined. Task 27.Variance –Part 2 ........................................ Error! Bookmark not defined. Task 28.Planning & control system ........................ Error! Bookmark not defined. Task 29.Short term Vs Long term ........................... Error! Bookmark not defined. Task 30.Performance measure .............................. Error! Bookmark not defined.Task 31.Ratio Analysis ............................................ Error! Bookmark not defined. Task 32.Balanced Scorecard ................................... Error! Bookmark not defined. Task 33.Assess managerial performance ............... Error! Bookmark not defined. Task 34.Cost reduction and value enhancement ... Error! Bookmark not defined.Task 1.Accounting for management✧Describe the purpose and role of cost and managementaccounting✧Compare and contrast financial accounting with cost andmanagement accounting1. Financial accountingFinancial accounting involves recording the financial transactions of an organisation and summarising then in periodic financial statement for external users who wish to analyse and interpret the financial position of the organisation.Financial accounting systems ensure that the assets and liabilities of a business are properly accounted for.These external parties include shareholders, customers, suppliers, tax authorities and employees.2. Management accountingManagement accounting systems provide information specifically for the use of managers within an organisation.2.1 PurposeManagement accounts assist in planning and controlling an organisation’s activities and help the decision-making process.There are no legal requirements to prepare management accounts or any set format. Management accounts can focus on specific areas of an organisation’s activities. Management accounts incorporate non-monetary measures and can be used as a future planning tool.2.2 RoleThe management information system of an organisation is likely to be able to prepare annual statutory accounts, budget and forecasts, product profitability reports, cash flow reports, capital investment appraisal reports, and standard cost and variance analysis reports.The term ‘cost accounting’ and ‘management accounting’ are often used to mean the same thing.SummaryCost accountingCost accounting is a system for recording data and producing information about costs for the products produced by an organisation or the service it provides.Cost accounting is part of management accounting. Cost accounting provides a bank of data for the management accountant to use.Cost accounting information is, in general, unsuitable for decision making.The information required for decision making is different from the information provided by conventional cost accounts. Decision-making information should be relevant.Management control systemA management control system is a system which measures and corrects the performance of activities of subordinates in order to make sure that the objectives of an organisation are being met and the plans devised to attain them are being carried out.The management function of control is the measurement and correction of the activities of subordinates in order to make sure that the goals of the organisation, or planning targets are achieved.The basic elements of a management control system are planning, recording, carrying out, comparing, evaluating, correcting.Task rmation✧Distinguish between data and information and explain theattributes of good information✧Identify and explain the attributes of good information.✧Describe sources of information from within and outside theorganisation✧Explain the uses and limitations of published information/data✧Explain the limitation of management information in providingguidance for managerial decision-making✧Explain sampling techniques.✧Choose an appropriate sampling method in specific situation.。
干货整理：ACCA F2科目41条笔记分享
干货整理：ACCA F2科目41条笔记分享ACCA F2全称是Management Accounting，这一门课程是管理会计的内容，课程总体难度不大，差异分析的部分考试可能有些难度，另外一些财务比率的计算需要掌握，为今后的学习打好基础。
以下是学员整理的一些F2学习笔记供新学员参考：1.Target cost=target selling price–target profit=market price–desired profit margin.2.cost gap=estimated cost–target cost.3.TQM:①preventing costs②appraisal costs③internal failure costs④external failure cost4.Alternative costing principle:①ABC(activity based costing)②Target costing③Life cycle④TQM8.Time series:①trend②seasonal variation:⑴加法模型sum to zero;⑵乘法模型sum to4③cyclical variation④random variation9.pricipal budget factor关键预算因子：be limited the activities10.budget purpose:①communication②coordination③compel the plan④motivative employees⑤resource allocation11.Budget committee的功能：①coordinated②administration12.Budget:①function budget②master budget:1.P&L;2.B/S;3.Cash Flow13.Fixed Budget:不是在于固不固定，而是基于一个业务量的考虑，financail expression.Flexible Budget:包含了固定成本和变动成本，并且变动成本的变化是随着业务量的变化而改变。
F2ManagementaccountingF2-Chapter10a
Customer Carroll Connor
Job No. B15
Address 1442 High Point Dr. Portland, Oregon
A materials requisition Job Description Level I Alarm System on Ford Expedition
Paper F2
Management Accounting
2020/9/4
1
Chapter 10 Job, batch and service costing
2020/9/4
2
Chapter Preview
Job, batch and service costing
Job and batch costing Job cost card
Date promised 3/13/02 Dated started 3/3/02 Date completed
Direct Materials
DiirsectuLsabeord to auFtahctoorryiOzveerhtehaed
Date Req. Cost Date Tuicskeet oCfomst atDearteialsRaoten aCost
Chapter 11
Typical job order cost applications: Special-order printing Building construction
Also used in service industry Hospitals Law firms
2020/9/4
Total
Total
Expenses
Cost Summary Direct Materials Direct Labor Factory Overhead Total Cost
F2 Management Accounting 应知应会单词
F2Management Accounting应知应会单词——By Golden Finance Chapter1Decision-making决策Decline减少Long-term strategic planning长期战略规划Chapter2Attendance record考勤记录Census普查Cluster sampling整群抽样/整群抽样法Continuous data连续性数据Data sources数据源Data types数据类型Discrete data离散性数据Investment centres投资中心Multistage sampling多层抽样法Multistage sampling多步骤抽样Population群体；总体Primary data原始数据；原始资料；一手资料Qualitative定性的Quantitative定量的Quasi-半（用以构成复合词）Quota sampling配额抽样Random numbers随机数Sampling取样；抽样Sampling frame样本框Scatter diagrams散点图；散形图Secondary data二手数据Stratified sampling分层抽样Systematic sampling系统抽样；等距抽样Chapter3Bar chart条形图Component bar chart成分柱状图Compound bar chart复合柱状图Moving averages移动平均Multiple bar chart多重条状图Pie chart饼状图；扇形图Chapter4Administration管理；行政Committed cost承诺成本Committed fixed costs承诺支出的固定费用Composite codes复合编码Composite index numbers复合索引号码Controllable cost可控成本Controllable profit可控利润Cost成本Cost accounting成本会计Cost accounting department成本核算部门Cost accounts成本账户Cost behaviour成本性态Cost behaviour and levels of activity成本性态与活动量Cost behaviour assumptions成本性态前提假设Cost behaviour patterns成本性态模式Cost behaviour principles成本性态原则Cost centre成本中心Cost codes成本代码Cost object成本对象Cost of appraisal成本评估Cost reduction成本减少Cost unit成本单位Curvilinear variable costs曲线变动成本法Direct costs直接成本Direct expenses直接费用Direct labour直接人工Fixed cost固定成本High Low Method高低点法Indirect间接Indirect expenses间接费用Indirect materials间接材料Indirect wages间接工资Memorandum report备忘录Non-controllable cost s不可控成本Price价格（多指单价）Production cost生产成本Responsibility center责任中心Semi-variable cost半变动成本Stepped Fixed costs阶梯成本Trace ability可描性；追溯性Variable cost变量成本Chapter5Bin card库存记录卡Bulk discount大宗购买Continuous stocktaking连续盘存Delivery note送货单Deteriorating inventory质量下降的存货Direct material直接材料Economic batch quantity经济批量Economic order quantity经济订货量FIFO（First in,first out)先入先出Free inventory可用库存GRN；goods received note收货单Idle time闲置时间Incentive schemes激励计划Job cards作业卡Labour turnover劳工周转Maximum level最高存货水平Minimum level最低存货水平oder costs订单成本Periodic stocktaking定期盘存Perpetuity永续性Perpetuity永续盘存Reorder level再订货水平Slow-moving inventories呆滞库存Stock out cost缺货成本Store requisition领料单Transfers and returns of material材料的转移和返回Weighted average pricing加权平均定价法Chapter6Activity ratio生产业务量比率（同production volume ratio）Capacity ratio产能比率Clock card出勤卡Daily time sheets每日工作时间表Day-rate system日付工资系统Direct wages直接人工（蓝领）Group bonus schemes团体奖金计划Individual bonus schemes个人奖金计划Motivation激励overtime premium加班奖金Remuneration methods报酬方法Replacement costs重置成本Chapter7Absorption costing吸收成本法Activity based costing；ABC作业成本法Allocation分配Apportioned costs已分摊成本Cost drivers成本动因Cost pools成本池Departmental absorption rates部门吸收率Distribution overhead运输间接费用Job cost card作业成本卡Job costing作业成本法over-absorption超额分配Overhead经常费用；杂项费用Chapter8Contribution贡献Job costing for internal services内部服务成本计量Chapter9Abnormal gain异常收益Abnormal loss异常损失By-product副产品Equivalent units同等数量Joint product联产品Process costing分布成本法Scrap value废料价值Split off point费用分配点（分离点）weighted average cost method加权平均成本法Chapter10Appraisal costs评估成本Batch costing整批成本法Continuous improvement不断改进Cost of conformance成本Cost of external failure外部失败成本（货物售后）Cost of internal failure内部失败成本（货物出厂前）Cost of non-conformance违规的成本Cost of prevention避免次品成本Cost of quality保证质量成本Cost per service unit每服务单位的成本Cost plus pricing成本+定价法Cumulative weighted average pricing累计加权平均定价法Least squares method最小二乘法Linear equations线性等数Lines of best fit最佳拟合曲线Marginal costing边际成本法Pricing定价法Profit margin利润率Total quality management(TQM)全面质量管理（TQM）Chapter11Additive model加法模型Chain base method链基数方法Coefficient of determination决定系数Consumer Prices Index(CPI)消费价格指数Correlation相关性Correlation and causation相关性和因果关系Correlation coefficient相关系数Correlation in a time series时间序列里的相关性Cyclical variations周期变动Deseasonalisation去季节性影响Index numbers指数Laspeyre indices拉式指数Paasche indices帕氏指数positive correlation正相关Regression lines and time series回归线和时间序列Retail price index零售物价指数Seasonal variations季节差异Weighted aggregate indices加权综合指数Chapter12Aspiration level期望水平Aspirations budget愿望预算Budget committee预算委员会Budget manual预算指南Budget period预算期间Budgetary control预算控制Budgetary slack预算松弛Cell单元格Column列Corporate objectives公司目标Corporate planning公司计划Cost behaviour and budgeting成本性态与预算Departmental budgets部门预算Discretionary fixed costs可自由处置固定成本Dysfunctional decision making破坏性的想法Expectations budget期望预算Goal congruence目标一致Life cycle costing生命周期成本Participative budgeting参与式预算Spreadsheet电子表格Chapter13Cash budget现金Cash budget现金流预算Cost behaviour and decision making成本性态与决策Discounted cash flow现金流贴现Chapter14Avoidable costs可避免的成本Break-even收支平衡Capital expenditure资产性支出Capital income资产性收入Capital transactions资产性收入Cost of capital资金成本Discounted cash flow(DCF)techniques现金贴现方法Discounted payback method贴现还本方法Discounting贴现Net present value净现值Non-relevant costs不相关成本opportunity cost机会成本Rectification Cost改正成本Running cost营运成本Sunk cost沉没成本Chapter15Attainable standard可达到的标准Basic standard基础标准Control控制Control process控制流程Control ratios控制比率Cost behaviour and cost control成本性态与控制Cost control成本控制Cost gap成本差异Differential cost差异成本Direct labour cost variances直接人工成本差异Direct labour efficiency variance直接人工效率差异Direct labour rate variance直接单位人工差异Direct labour total variance直接人工总差异Direct material price variance直接材料定价差异Direct material total variance直接材料费用总差异Direct material usage variance直接材料使用率差异Directly attributable fixed costs直接产生的固定费用Directly attributable overhead直接产生的间接费用Standard cost标准成本Chapter16Accounts payable payment period应付帐款付款期Accounts receivable collection period应收帐款收款期Acid test ratio速动比率（同quick ratio）Asset turnover资产周转率Average age of working capital周转期（同Working capital period）Critical success factor主要成功因素Customer service客户服务Mission使命Working capital period周转期Chapter17Balanced scorecard平衡记分卡Benchmarking标杆管理Cost/sales ratios成本销售比率Current ratio流动比率Current standards现有标准Debt ratios负债比率Interest cover利息覆盖Inventory turnover库存流通率Inventory turnover period库存周转周期Liquidity ratios流动比率Performance measurment业绩测量Profit sharing schemes利润分享计划Quick ratio速动比率Residual income剩余收益Return on capital employed(ROCE)资本回报率Return on investment(ROI)投资回报率Value analysis价值分析Value engineering价值工程。
2014年ACCA考试F2管理会计总汇12
2014年ACCA考试F2管理会计总汇12本文由高顿ACCA整理发布，转载请注明出处Main contents:1. Holding costs2. Ordering costs3. Re-ordering quantity (EOQ, EBQ)4. Re-order levelPurchase cycleThe inventory control should include the function of inventory purchase cycle.The ordering of inventoryThe purchase of inventoryThe receipt of goods into store StorageThe issue of inventory and maintenance of inventory at the most appropriate levelEvery movement of material in a business should be documented using the following as appropriate:Purchase requisition notePurchase order noteGoods received notes (GRN)Material requisition noteMaterial transfer note and materials returned noteThe storage of inventoryMaterials held in stores are coded and classified in order to be identified easily.Bin cards and stores ledger accounts are used to record inventory movements in order to maintain accurate records of current inventory levels.Perpetual inventory refers to an inventory recording system whereby the records (bin cards and stores ledger accounts) are updated for each receipt and issue of inventory as it occurs.Free inventory balance = available for future useMaterials in inventory+ Materials on order from suppliers- Materials requisitioned, not yet issued= Free inventory balanceInventory valuationFirst in First Out – FIFO assumes that materials are issued out of stock in the order in which they were delivered into inventory.Weighted average cost – AVCO values all items of inventory and issues at an average price. They average price is calculated after each receipt of goods.Periodic stocktaking is a process whereby all inventory items are physically counted and valued at a set point in time, usually at the end of an accounting period.Continuous stocktaking is counting and valuing selected items at different times on a rotating basis, usually each day. Valuable items or items with a high turnover could be checked more frequently.How much to order?The total costs associated with stocks include the following costs:Purchase costsOrdering cost:- Documentation- Telephone calls- Payment of invoices- Receiving goods into storesHolding cost- Cost of storage and stores operations- Interest charges- Insurance costs- Risk of obsolescence and deteriorationCost of running out of inventory (stock out costs)- Lost of contribution from lost sales- Loss of future sales- Loss of customer goodwill- Cost of production stoppages- Labour frustration over stoppages- Extra costs of urgent, small quantity, replenishment orders更多ACCA资讯请关注高顿ACCA官网：。
会计专业的出路：一样可以成为高薪一族
英国很多大学均提供会计及商科相关专业的本科、硕士或衔接课程。想获得CIMA，就先从一个学位开始吧。
特许公认会计师公会，简称ACCA，是世界上领先的会计师团体。公会会员超过50万人，其中41000名会员位于中国，学员遍布170个国家。ACCA资格被认为是“国际财会界的通行证”。申请成为ACCA学员的步骤很简单，但成为真正的ACCA会员之前，你需要通过所有资格认证考试。
想要获得ACCA会员资格，需要通过官方设置的14门考试，这可能需要4年的时间。
P2 –公司报告(Corporate Reporting)
P3 –商务分析(Business Analysis)
选修科目(以下四门选择两门完成)
P4 –高级财务管理(Advanced Financial Management)
P5 –高级业绩管理(Advanced Performance Management)
基础阶段F1-F9
知识课程单元
F1 –商业会计师(Accountant in Business)
F2 –管理会计(Management Accounting)
F3 –财务会计(Financial Accounting)
技能课程单元
F4 –公司法与商法(Corporate and Business Law)
P6 –高级税务(Advanced Taxation)
P7 –高级审计与认证业务(Advanced Audit and Assurance)
ACCA考试报告分析F2-examreport-2007D
Examiners’reportF2Management AccountingDecember2007The following questions are ones where less than30%of the candidates selected the correct answer.These questions carried2marks each.Example1A company uses standard marginal st month the standard contribution on actual sales was$10,000 and the following variances arose:$Total variable costs variance2,000AdverseSales price variance500FavourableSales volume contribution variance1,000AdverseWhat was the actual contribution for last month?A$7,000B$7,500C$8,000D$8,500The correct answer was D($8,500).The most popular choice made by candidates was B.More than twice as many candidates chose B than chose D.Those choosing B had overlooked the fact that the‘standard contribution on actual sales’(given in the question)would have been obtained by adjusting the budgeted contribution by the sales volume contribution variance.Therefore this variance should have been ignored in answering the specific question set.The correct answer is obtained as follows:$Standard contribution on actual sales10,000Add Favourable sales price variance500Subtract Adverse total variable costs variance(2,000)Actual contribution$8,500This question tested Section E5(b)in the Study Guide–the reconciliation of budgeted and actual contributions under standard marginal costing.Example2The probability of an organisation making a profit of$180,000next month is half the probability of it making a profit of$75,000.What is the expected profit for next month?A$110,000B$127,500C$145,000D$165,000This short calculation question caused many candidates a lot of problems.Both choices B and D were very popular–many more candidates chose either B or D than chose the correct answer A($110,000).The correct calculation is:[(180,000×1)+(75,000×2)]÷[1+2]=$110,000Answer B could be calculated incorrectly as follows:[(180,000×2)+(75,000×2)]÷[2+2]=$127,500This approach has weighted the two profits equally and not in the ratio described in the question.Answer D could be calculated incorrectly as follows:[(180,000÷2)+75,000]=$165,000This approach indicates a poor understanding of what an expected value is,namely a weighted average.This question tested Section C1(a)in the Study Guide–the calculation of an expected value.Example3Two products(W and X)are created from a joint process.Both products can be sold immediately after split-off. There are no opening inventories or work in progress.The following information is available for last period: Total joint production costs$776,160Product Production Sales Selling priceunits units per unitW12,00010,000$10X10,0008,000$12Using the sales value method of apportioning joint production costs,what was the value of the closing inventory of product X for last period?A$68,992B$70,560C$76,032D$77,616The correct answer was D($77,616).Both answers B and C were more popular choices by candidates and A was selected by more than12%of the candidates.The correct approach is as follows:Sales values of production:Product W:(12,000×10)=$120,000Product X:(10,000×12)=$120,000Therefore joint production costs are apportioned W:X in the ratio1:1.Amount apportioned to product X is(776,160÷2)=$388,080.20%of X’s production is in closing inventory:(0.2×388,080)=$77,616.Answer B has split the joint production costs on the basis of sales prices and Answer C has used the sales value of sales to apportion joint production costs.This question tested Section D6(k)in the Study Guide–the valuation of joint products.。
F2教学大纲《management accounting》3学分
《管理会计》教学大纲（Management Accounting）制定单位：国际审计学院（系、部）制定人：王军法审核人：编写时间：2010年10月16日课程说明一、课程概述：（一）课程属性及课程介绍管理会计是ACCA课程体系中管理会计、财务管理系列的基础课程，旨在为后继课程F5(业绩管理), F9 (财务管理)提供基本的数量分析方法和技巧。
要求学生能熟练运用统计常用分析方法，成本核算方法，成本差异分析方法，简单的生产预测与决策方法以及简单成本预算法等基本方法。
本课程的主要内容包括：管理信息系统的基本概念(管理目标、管理战略、管理计划)；成本的归类分析；成本的核算方法；成本系统；本-量-利分析；线性规划分析法；相关成本分析法；简单投资项目评价分析；简单成本预算；标准成本和差异分析等。
其中成本的核算方法及其要素核算、本量利分析方法、成本差异分析等内容为讲授和考试的重点。
（二）教学目标理解管理会计，成本会计与财务会计的联系与区别，熟练运用管理会计、成本会计的常用分析方法，核算方法，以及成本差异分析方法，进行简单的生产预测、决策和简单的成本核算，为进一步学习后续相关课程打好基础。
（三）适用对象审计学专业国际审计方向（四）先修课程与后续课程《会计学原理》、《成本会计》等二、任课教师教学过程中应注意的事项1、加强对基本概念、基本理论的讲授。
本课程涉及的基本概念、基本理论、基本方法很多。
学生对这些概念、理论理解的正确与否直接影响到答题的正误。
如边际成本法与吸收成本法，先进先出法与加权平均法。
2、加强课堂练习和课后练习为了训练和培养学生的实际操作能力，并适应英国的全球统考，必须要求学生进行大量课堂练习和课后作业练习。
3、双语教学本课程的习题及试卷均为英文形式。
上课中英文结合，专业内容以英文为主。
三、学时要求与分配：（一）总学时要求54学时（二）学时分配四、实践教学内容与要求五、教学参考资料1.《Management Accounting》, 英国BPP出版有限公司编，华中科技大学出版社，2010年1月2.CPA 辅导教材《财务成本管理》经济科学出版社2010年3.[美]卡尔·S·沃伦等著《会计学》中信出版社，5.ACCA网站：9.BPP网站：10.FTMS网站：六、课程的考核要求平时成绩占40％，期末考试占60％。
ACCA F阶段知识整理
ACCA F阶段知识整理ACCA考试科目一共有13门，其中F阶段考试科目一共占了9门课程，其中的重要性不言而喻，那么F阶段和P阶段有什么关联呢?P阶段应该如何选择呢?带着这些疑问一起和高顿ACCA来看看吧。
给大家整理了一套电子版ACCA备考资料，里面有很多ACCA考试资料可供大家选择。
而且在对于上班族来说，电子版的也很适合在地铁上查阅：电子版ACCA 备考资料F1 Accountant in Business这一门倾向于管理方面，课程难度不大，很多常识性的知识点，但是毕竟是ACCA第一门考试，所以刚开始大多数同学都会对很多专业词汇的英文表述不熟悉，加上F1中的知识点比较细碎，因此加大了学习的难度。
建议大家把每章的知识点自己做一个梳理总结，每一章节整理出大框架，可以很好地帮助本科的学习。
F2 Mangement Accounting这一门课是管理会计，课体总体难度不大，差异分析的部分可能有些难度，另外一些财务比率的计算需要掌握，为以后的学习打好基础。
F3 Financial Accounting这一门课是财务会计，属于基础会计学，其中会涉及到会计科目、会计分录、丁字账、试算平衡表等等一系列会计基础知识，对于没有会计基础的同学一开始会觉得一头雾水，但是入了门之后这门课程难度并不算大。
这一门课程是之后F7和P2的学习基础，一定要掌握知识点，同时积累英语专业词汇。
F4 Corporate and Business Law英美法系和大陆体系的不同在于他们使用的是判例法，因此F4中涉及到不同年代各种法律案例，并且有很多专业词汇。
以判例法为主考试难度感觉是在上升，但是通过率在上升F5 Performance Management这门课是管理会计的进阶，对于F2基础打得好的同学拿下这门课应该不在话下。
这门课程总体难度不大，重点在于掌握不同成本法及业绩评价方法的应用。
F6 Taxation这门课90%以上都是计算，是中国考生最拿手的地方。
2015年6月ACCA考试F2 mock questions考题
F2Management AccountingMock Exam(2015)Part A:ALL35questions are compulsory and MUST be attempted1A company operates a job costing system.Job001requires$60of direct materials,$40of direct labor and$20of direct expenses.Direct labor is paid$8per hour.Production overheads are absorbed at a rate of$16per direct labor hour and non-production overheads are absorbed at a rate of60%of prime costWhat is the total cost of Job001?A$240B$260C$272D$3202Which of the following statements,about establishing the trend of a time series,is/are TRUE?(1)Where the time series is approximately linear,the line of best fit can be estimated on ascatter graph(2)Where the time series is not approximately linear,moving averages can be calculated.A1onlyB2onlyC Both1and2D Neither1nor23It has been estimated that each service cost center does work for the other cost centers in the following proportions:Production Production Service Service1212 Overhead$90,000$85,000$40,000$30,000 Percentage of S130%40%30% Percentage of S240%50%10%1.The business uses the direct method of apportionment.After the reapportionment ofservice to production departments,the total overhead for P1is$_________(to thenearest whole$)2.The business uses the step down method of apportionment.After the reapportionment ofservice to production departments,the total overhead for P1is$__________(to thenearest whole$)4.L operates a continuous process producing three products and one by-product.Output from the process for a month was as follows:Product selling price per unit units of output from process1$18100002$25200003$20200004(by-product)$23500Total joint costs were$277000.What was the unit cost valuation for product3using the sales revenue basis for allocating joint costs assuming that the revenue receivable from the by-product is deducted from the joint costs?A$4.7B$4.8C$5.0D$5.15A manufacturing firm planned to manufacture and sell100,000units of product during the year at a variable cost per unit of$4.00and a fixed cost per unit$2.00.The firm fell short of its goal and only manufactured80,000units at a total incurred cost of$515,000. The firm’s manufacturing variance wasA$85,000favorableB$35,000adverseC$5,000favorableD$5,000adverse6A company determines its order quantity for a component using EOQ model.What would be the effects on the EOQ and the total annual ordering cost of a decrease in the annual cost of holding one unit of the component in stock?EOQ Total annual ordering costA Lower No effectB Higher No effectC Lower HigherD Higher Lower7The following information is available regarding the fixed overhead costs and output of the two production departments of a firm.Department A BAllocated or apportioned fixed overhead$70,000$100,000Total cost of direct materials used$140,000$100,000Total productive labor hours5,00010,000A particular product has the following variable cost.$MaterialsDepartment A4kg@$3per kg12Department B2kg@$3per kg6LaborDepartment A1/2hour@$10per hour5Department B 1.5hour@$10per hour15Variable overheads1hour@$5per hour5_____43If fixed overheads are absorbed on the basis of departmental material cost,the fixed overhead cost per unit is:A$5.8B$12C$10D$218ABC plc is currently preparing its cash budget for the year to31December20x4.An extract from its sales budget for the same year shows the following sales values:$March60,000April70,000May55,000June65,00040%of its sales are expected to be for cash.Of its credit sales,70%are expected to pay in the month after sale and take a2%discount;27%are expected to pay in the second month after the sale,and the remaining3%are expected to be bad debts.The value of sales receipts to be shown in the cash budget for May20x4isA$60,532B$61,120C$66,532D$86,6209In a time series analysis,the addictive model is used to forecast sales and the following seasonal variation apply:Quarter1234SV170130-230?The actual sales for the first two quarters of20x5were:Quarter1:$900Quarter2:$670What is the seasonal variation for the fourth quarter?A200B250C-150D-70The trend line for sales between Quarter1and Quarter2is___________(increased or decreased).10A company uses the WA method of inventory valuation which makes a product in two processes.The following data is available for process1in the last period.Opening work in process of1,000units was valued as follows:Material$12,000;Labor$6,000;Overhead$7,450Unit added and costs incurred during the period:Material$30,000(2,500units);Labor$16,750;Overhead$7,450The completion degrees of closing wip of500units:Material100%;Labor60%;Overhead40%1How many equivalent units are used when calculating the cost per unit in relation to labor? _________EUS2The value of the units transferred to process2was(to nearest$)$_____________11A company produces and sells a single product whose variable cost is$6per unit. Fixed costs have been absorbed over the normal level of activity of200,000units and have been calculated as$2per unit.The current selling price is$10per unit.How much profit is made under marginal costing if the company sells250,000units?A$500,000B$600,000C$900,000D$1,000,00012A company can make1,000units of a product for$12material per unit and2hours per unit for labor.The product sells for$22per unit.Employees are paid at$15per hour and are currently employed on the production of another product that takes3 hours of labor in which generates a contribution of$12/unit.Extra employees cannot be recruited and would have been transferred from current work.What is the total relevant cost if the company proceed with the new product?A-28,000B-13,000C-32,000D-20,00013The budgeted contribution for H Co for Jun was$290,000.The following variances occurred during the month.Fixed O/H expenditure variance6,475FTotal direct labor variance11,323FTotal variable overhead variance21,655ASelling price variance21,875FFixed overhead volume12,500ASales volume variance36,250ATotal direct materials variance6,335AWhat was the actual contribution for the month?A252,923B258,948C321,052D327,07714A company uses an overhead absorption rate of$3·50per machine hour,based on 32,000budgeted machine hours for the period.During the same period the actual total overhead expenditure amounted to$108,875and30,000machine hours were recorded on actual production.By how much was the total overhead under or over absorbed for the period?A Under absorbed by$3,875B Under absorbed by$7,000C Over absorbed by$3,875D Over absorbed by$7,00015In a transport business,unit costs are calculated per tonne/kilometer.The following data is available:Average load(tonnes)Average distance(kilometers)Number of journeys 44010560126658Total costs were$34,295.What was the cost per tonne/kilometer(to two decimal places of$)?A$0.46B$1.34C$4.12D$13.8616A company has a capital employed of$200,000.It has a cost of capital of12%per year.Its residual income is$36,000.What is the company’s return on investment?A30%B12%C18%D22%17What is Fisher’s ideal index?Laspeyre index150Corresponding Paasche index138.24A12.00B16.98C144.00D288.2418The following information is available for H co for the month of JuneBudgeted Hours2,750standard hoursStandard hours produced2,812standard hoursActual hours worked3,000Calculate the efficiency ratio:A94%B102%C107%D109%19Two products G and H are created from a joint process.G can be sold immediately after split-off.H requires further processing into product HH before it is in a saleable condition. There are no opening inventories and no work in progress of products G,H or HH.The following data are available for last period:$Total joint production costs350,000Further processing costs of product H66,000Product Production Closingunits inventoryG420,00020,000HH330,00030,000Using the physical unit method for apportioning joint production costs,what was the cost value of the closing inventory of product HH for last period?A$16,640B$18,625C$20,000D$21,60020A company operates a process costing system using the FIFO system of valuation. No losses occur in the process.The following data relate to last month:UnitsOpening wip200with total value of$1,530Input to the process1,000Completed production1,040Last month the cost per equivalent unit of production was$20and the degree of completion of the wip was40%throughout the month.What was the value(at cost)of last month’s closing work in progress?A$1224B$1280C$1836D$192021There is a normal loss of5%of the material input into a chemical process. During a given period,a company needs to produce840kg of W.And the company did produce840kg of W,although there was an abnormal loss of3%of material input into the process.The input should be____________kg of material during the month(to the nearest kg).22.A company manufactures a single product.Unit cost are:$/UnitVariable product14.75Fixed production8.10Variable selling 2.40Fixed selling 5.35400,000units of the product were manufactured in a period,during which394,000 units were sold.There was no inventory of the product at the beginning of the period.Using marginal costing,what is the total value of the finished goods inventory at the end of the period:___________(to the nearest$)Using absorption costing,what is the total value of the finished goods inventory at the end of the period:_____________(to the nearest$)23The following data relates to a wage index for a company:Year Wages per week Index01$27511706$315157What were the06weekly wages at01prices(to the nearest$)?A$201B$235C$275D$36924What document shows the amount due to a supplier for goods bought?A Purchase invoiceB Purchase requisitionC Goods received noteD Purchase order25.A company has following information in a record;Cost Output4,0001,0007,0002,00010,0003,0009,5004,000A step up in fixed costs of$500occurs at an output level of3,500unitsWhat would be the variable overhead cost per unit using high low method?A1.67B1.83C2.75D3.0026.A company uses standard absorption costing to value inventory.Its fixed overhead absorption rate is$12per labour hour and each unit of production should take four labour hours.In a recent period when there was no opening inventory of finished goods,20,000units were produced using100,000labour hours.18,000units were sold.The actual profit was$464,000.What profit would have been earned under a standard marginal costing system? A$368,000B$440,000C$344,000D$560,00027.Which two items in the following list relate to the term‘by product’?(1)Has low sales value relative to joint products(2)Accounted for by crediting the NRV(net realizable)value to work in progressaccount(3)Equivalent units of output are less than the actual good units of output(4)Charged with a share of joint production costsA1&2B1&3C2&4D3&428.The NPV of an investment at12%is$25,000and at20%is-$7,000.What is the IRR?A6%B12%C15%D18%29.A project has an initial investment of$60,000.The present value of the expected net cash inflows from the machine over its useful life are:Discounted rate Present value of cash flow10%$64,60015%$58,20020%$52,100What is the IRR of this investment?A Below10%B Between10%and15%C Between15%and20%D Over20%30.How much should be invested now(to the nearest$)to receive$24,000per annum in perpetuity if the annual rate of interest is5%A$210440B$18720C$22000D$48000031.An investor has the choice between two investments.Investment Easy offers interest of4%per year compounded semi-annually for a period of three years. Investment Difficult offers one interest payment of20%at the end of its four-year life.What is the annual effective interest rate offered by the two investments?Easy DifficultA 4.00% 4.66%B 4.00% 5.00%C 4.04% 4.66%D 4.04% 5.00%32.Tom Ltd’s material price variance for the month of Jan was$1,000F and usage variance was$200FThe standard material usage per unit is3kg,and the standard material price is$2 per kg.500units were produced in the period.Opening stocks of raw materials were100kg and closing stock300kg.Material purchases in the period were:A1200kg B1400kg C1600kg D1800kg33.An education authority is considering the implementation of a CCTV security system in one of its schools.Details of the proposed project are as follows:Life of project5yearsInitial cost$75000Annual savings:$30,000for5year with immediately effectDiscounted Rate:15%Calculate NPV of this project:$___________34.A company is considering an investment of$400000in new machinery.The machinery is expected to yield incremental profits over the next five years as follows:Year Profits($)11750002225000334000041650005125000Thereafter,no incremental profits are expected and the machinery will be sold.It is company policy to depreciate machinery on a straight line basis over the life of the asset.The machinery is expected to have a value of$50000at the end of year5Calculate the payback period of the investment in this machinery to the nearest0.1 year.A0.9year B1.3years C1.5years D1.9years35.What is the name given to a code in which the level of detail increase in a logical way as you work through the code?A sequenceB HierarchicalC FacetedD BlockPart B:All Three Questions to be attempt:1.Luca Co uses a standard marginal costing system to control its costs and revenues. The following variances have been calculated for one of its products for May2013. Variance Favorable Adverse$$Sales volume contribution3,950Sales price4,500Direct material price270Direct material usage180Direct labour rate1,100Direct labour effi ciency200Variable overhead expenditure750Variable overhead effi ciency600Fixed overhead expenditure1,350––––––––––––6,9505,950––––––––––––The following information is also available for May2013.Budgeted sales and production500units Budgeted profit$14,500Budgeted fixed costs$25,000Required:(a)Using the above information prepare a marginal costing based profit reconciliationstatement for May2013.(i)Budgeted contribution;$____________(1mark) (ii)Standard contribution for actual sales volume;$______________(1mark) (iii)Actual contribution;$______________(1mark) (iv)Actual fixed costs;$______________(2mark) (v)Actual profit.$_______________(1mark)(b)Which factors should not be considered in deciding whether or not to investigate avariance?（2mark）A Possible interdependence of variancesB The inherent variability of the cost or revenueC Top management’s delegationD Reliability of the figures(c)Which of the following would help to explain a favorable direct labor rate variance?(2mark)(1)Employees were of a lower grade than standard(2)The standard hourly rate pay day was set unrealistically high(3)A pay increase which had been anticipated in the budget was not awardedA All of themB(1)and(2)C(2)and(3)D(1)and(3)2.Cab Co owns and runs350taxis and had sales of$10million in the last year.Cab Co is considering introducing a new computerised taxi tracking system.The expected costs and benefits of the new computerised tracking system are as follows: (i)The system would cost$2,100,000to implement.(ii)Depreciation would be provided at$420,000per annum.(iii)$75,000has already been spent on staff training in order to evaluate the potential of the new system.Further training costs of$425,000would be required in the first year if the new system is implemented.(iv)Sales are expected to rise to$11million in Year1if the new system is implemented, thereafter increasing by5%per annum.If the new system is not implemented,sales would be expected to increase by$200,000per annum.(v)Despite increased sales,savings in vehicle running costs are expected as a result of the new system.These are estimated at1%of total sales.(vi)Six new members of staff would be recruited to manage the new system at a total cost of $120,000per annum.(vii)Cab Co would have to take out a maintenance contract for the new system at a cost of $75,000per annum for five years.(viii)Interest on money borrowed to finance the project would cost$150,000per annum. (ix)Cab Co’s cost of capital is10%per annum.Required:(a)State whether each of the following items are relevant or irrelevant cashflows for a net present value(NPV)evaluation of whether to introduce the computerised tracking system.(i)Computerised tracking system investment of$2,100,000;(ii)Depreciation of$420,000in each of the five years;(iii)Staff training costs of$425,000;(iv)New staff total salary of$120,000per annum;(v)Staff training costs of$75,000;(vi)Interest cost of$150,000per annum.Note:The following mark allocation is provided as guidance for this requirement:(i)0·5marks(ii)1mark(iii)0·5marks(iv)1mark(v)1mark(vi)1mark(5marks)(b)Calculate the following values if the computerised tracking system is implemented.(i)Incremental sales in Year1;(ii)Savings in vehicle running costs in Year1;(iii)Present value of the maintenance costs over the life of the contract.Note:The following mark allocation is provided as guidance for this requirement:(i)1mark(ii)0·5marks(iii)1·5marks(3marks)(c)Cab Co wishes to maximise the wealth of its shareholders.It has correctly calculated the following measures forthe proposed computerised tracking system project:–The internal rate of return(IRR)is14%,–The return on average capital employed(ROCE)is20%and–The payback period is four years.Required:Which of the following is true?A The project is worthwhile because the IRR is a positive valueB The project is worthwhile because the IRR is greater than the cost of capitalC The project is not worthwhile because the IRR is less than the ROCED The project is not worthwhile because the payback is less than five years(2marks)(10marks)3.The directors of Donny Co are reviewing the performance of two of its divisions.The following information is available for the year ending31March2013.South division North division$000$000Sales50,0003,200 Operating profit700840Capital employed3,5004,000South division is a food retailer that sells low priced food from a number of stores that are rented on short-term contracts.North division sells luxury motor vehicles,which it manufactures in a fully automated production plant.Required:(a)Calculate the following performance measures for the two divisions:(i)Return on capital employed;(ii)Return on sales;(iii)Asset turnover(based upon capital employed);(iv)Residual income(using an imputed interest charge of12%per annum).(5marks) (b)Donny Co is seeking to be successful and outperform its competition by identifying a series critical success factors(CSFs)and Key performance indicators (KPIs).Please mark the following either CSF or KPI:CSF KPIStaff turnover(1)(2)Internal learning(1)(2) Technology leadership(1)(2)New products(1)(2)After-sales process(1)(2)ROI(1)(2)Quality(1)(2)Delivery Lead time(1)(2)Price(1)(2) Employees(1)(2)(5marks)Present Value TablePresent value of1i.e.(1+r)–nWhere r=discount raten=number of periods until paymentAnnuity TableWhere r=discount raten=number of periods。
F2.ManagementaccountingF2-Chapter1
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Ji Weili, JXUFE
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Information Data and information
Data is the RAW MATERIAL Information is the PROCESSED DATA
Qualities of good information Types of information--Financial or non-
clear
timely
inspire confidence
cost/benefit
2019/
Planning, control and decision making
Planning – Long term strategies – Short term targets
Paper F2
Management Accounting
2019/11/13
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Chapter 1 Accounting for management
2019/11/13
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Chapter Preview
Accounting for management
Information for planning
─Operational planning
School
Profit-making business
Objective
Strategic plans (1)
To provide a high quality of education, so that within 5 years, 95% of pupils achieve grades A or B in their final examination
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7 000 B
6 000 C
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Ji Weili, JXUFE
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Accounting for by-products
The sales of the by-product may be treats as:
Added to sales of the main product
Treated as a separate, incidental source of income
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Ji Weili, JXUFE
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Allocating Joint Costs
Joint costs
If we allocate the joint costs of raising the animal to the two products based on weight, which product
Various methods: as specified in question
Do not allocate costs Various methods
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Ji Weili, JXUFE
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Joint Costs
A single cost incurred in producing or purchasing two or more different products.
Product One Two Three
Percent
Joint
Allocated
Value of Total
Cost
Cost
$ 80,000
20% × $ 200,000 = $ 40,000
200,000
50% × 200,000 = 100,000
120,000
30% × 200,000 = 60,000
Paper F2
Management Accounting
2020/9/4
1
Chapter 12 Process costing, joint products and by products
2020/9/4
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Chapter Preview
Process costing, joint & by-products
Similar to an indirect expense since it is shared among more than one cost object.
Example: The cost of crude oil is a joint cost for many petrochemical products.
5
Joint products and by-products - accounting
Joint products
Substantial sales value
By-products
Relatively low sales value Secondary to process
Apportion joint costs
Joint products
By-products
Allocating joint costs
Accounting treatments
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Ji Weili, JXUFE
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Joint products and by-products
forestry
2020/9/4
Ji Weili, JXUFE
Direct material(3000units) $60 000
/
Conversion costs
$76 500 $226 200
Normal loss
10% of input
Scrap value of normal loss $0.5$2源自Output (units)
26 000 10 000 A
Deducted from the cost of production or cost of sales of the main product
would receive the largest cost allocation?
Hamburger, because there is more of it.
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Ji Weili, JXUFE
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Allocating Joint Costs
Joint costs
If we allocate the joint costs of raising the animal to the two products based on sales value, would the steak receive a greater portion of the cost allocation?
Joint products
By product
4
Joint products and by-products
Inputs
Process
(Joint costs)
Split-off point
Product 1 Product 2 By-product
2020/9/4
Ji Weili, JXUFE
Yes, steak has a higher sales value than hamburger.
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Ji Weili, JXUFE
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Allocating Joint Costs on a Value Basis
Product One Sales value = $80,000
$200,000 Joint Cost
Total $ 400,000 100%
$ 200,000
2020/9/4
Ji Weili, JXUFE
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Joint products in process accounts
Example: P248-3.1
Data for the period are as follows.
process 1 process 2
Product Two Sales value = $200,000
Product Three Sales value = $120,000
Allocate the $200,000 joint cost based on sales value.
2020/9/4
Ji Weili, JXUFE
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Allocating Joint Costs on a Value Basis