ACCA F5复习提纲讲课稿.docx
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ACCAF5复习提纲讲课稿
Self-reviewF5
PartAStd.costing
Lifecyclecostingestimatesthecostsandrevenuesattributabletoaproductoveritsentireexpectedlifecycle,fromproductionconceptanddesigntoeventualwithdrawalfromthemarket.
Howtomaximizethereturn?
(profit)
1.Extendthelengthofthelifespan.
2.Minimizethetimetomarket.
3.Shortentheintroduction.
4.ControltheR&D.
5.Minimizethebreakeventime.
Profitability、Pricing、Costcontrol、Decisionmaking
Targetcosting
Purpose:
improvethecompetitiontosuittheenvironmentwithsimilarproducts
Process:
Step1Determineaproductspecification
Step2Decideatargetsellingpriceatwhichtheorganisationwillbeabletoselltheproduct
successfullyandachieveadesiredmarketshare.
Step3Estimatetherequiredprofit,basedonrequiredprofitmarginorreturnoninvestment.
Step4Calculate:
Targetcost=Targetsellingprice–Targetprofit.
Step5Prepareanestimatedcostfortheproduct,basedontheinitialdesignspecificationandcurrentcostlevels.
Step6Calculate:
Targetcostgap=Estimatedcost–Targetcost.
Step7Makeeffortstoclosethegap.
Howtoclosethecostgap?
1.Usingcheaperstaff
2.Acquiringmoreefficienttechnology
3.Cuttingoutnon-value-addedactivities
4.Trainingstaffinmoreefficienttechniques
Benefits:
1.costreductiontechniques
2.focusoncustomerimprovethelevelofsatisfaction
3.focusonproductdesignandprocess
4.improvethecompetitivenessofproductsandenhancingtheprofitabilityofsuccess
ThroughputAccounting
TOC(Thetheoryofconstraints):
Itskeyfinancialconceptistoturnmaterialsintosalesasquicklyaspossible,therebymaximizingthenetcashgeneratedfromsales----productionmanagement
Assumptions:
1.Intheshortrun,thecostofpurchasematerialsistheonlyvariablecost,othercostsinthefactoryarefixedcosts.
2.Producingfororders,theidealinventorylevelshouldbezero.
3.profitabilityisdeterminedbyhowquicklygoodscanbeproducedtosatisfycustomerorders.
4.idletimeatnon-bottleneckexistandisaccepted
TAperbottleneckresource(returnperfactoryhr)-----Throughput/bottleneckhrsperunit
计算题:
Optimumplan:
(1).Limitingfactoranalysis(contributionperbottleneckresource)
(2).TAaccounting(Throughputperbottleneckresource)
1.TA类
process:
1.Thebottleneckresourceisxxxx
2.calculationTA/unitTA/bottleneckhours
3.rankproduction
4.allocateresourcetoarriveatoptimumproductionplan
TAratio:
totalTA/totalfactorycost
TAperbottleneckresource/Factorycostperbottleneckresource
TAperunit/Factoryperunit
2.ABC类
CostpoolO/Hactivitydriverno.ofdriversOH/driver
Cost(O/H)perproduct
EA
EMA(environmentalmanagementaccounting)---internal
US:
1.Conventionalcost
2.Potentiallyhiddencost
3.Contingentcosts
4.Imageandrelationshipcosts
UNDSD:
1.Input/outputanalysis
2.Flowcostaccounting---materialsystemdelivery&disposal
3.ABC
4.Lifecyclecosting
PartBDecisionmaking
Singlelimitingfactor---optimumproductionplan
Rank—contributionperlimitingfactor=CPU/limitingfactorperunit
Multiplelimitingfactor-linearprogramming
画图—可行域交点代入目标方程式
Variables:
Letx=numberofXXX
Letcrepresentthecontribution
Constraints:
联立不等式组
p.s:
nonnegativity
Objective:
c=
Slack
Slackoccurswhenmaximumavailabilityofaresourceorotherconstrainingfactorisnotused.
Constraintwithslack----non-criticalconstraint,shadowprice=0
Constraintwithoutslack---criticalconstraint(binding)
Thisisanon-criticalscarceresourceandassuchithasashadowpriceofnil.
Shadowprice
Theshadowprice(dualprice)ofalimitingfactoristheincreaseinvaluewhichwouldbecreatedbyhavingoneadditionalunitofthelimitingfactoratitsoriginalcost.
(linearprogramming)extracontributionorprofitthatmaybeearnedbyrelaxingabindingresourceconstraintbyoneunit.
Process:
联立两个binding
Shadowprice=totalcontribution(newoptimalplan)-totalcontributioninoriginalsolution
Relevantcostsarefuturecashflowsarisingasadirectconsequenceofadecision.
Opportunitycostisthebenefitsacrificedbychoosingoneopportunityratherthanthenextbestalternative.
Cashinflows
Less:
Cashoutflows
Netcashflow
Sparecapacity
Makeorbuydecisions
Nosparecapacity
Process;
Variablecostofmaking
Variablecostofbuying
Extravariablecostofbuying
Limitingfactorsavedbybuying(perunit)
Extravariablecostofbuyingperhoursaved
Ranking
Shut-downdecisions
Factorstoconsiderforshutting-downdecisions:
1.Lossofcontributionfromthesegment
2.Savingsinspecificfixedcostsfromclosure
3.Penaltiesresultingfromtheclosure
4.Alternativeuseforresourcesreleased
5.Non-quantifiableeffects
6.Knock-onimpact—lossleader局部故意亏损以求整体利益
Ifshutdown;
Cashinflows;
Savedcosts
Increasedcontributionofotherproducts(substitute)
Cashoutflows;
Losscontribution(complement&itself)
Penalties
NCFs
Jointproductfurtherprocessingdecisions
Incrementalrevenue
Less:
Incrementalcost
Incrementalprofit/(loss)
Thexxxproductisworthfurtherprocessinginthattheextrarevenueexceedstheextracostby$xxx
PricingDecisions
Priceelasticityofdemand----inelastic0≤x<1
Elasticx>1
Demandequation;
P=a-bQ
MR=a-2bQ
P=price
a=thepriceatwhichdemandwouldbenil
b=inprice/inquantity
Q=thequantitydemanded
Profitsmaximised:
MR=MC
Revenuemaximised:
MR=0
CVPanalysis
Costvolumeprofit(CVP)/breakevenanalysisisthestudyoftheinterrelationshipsbetweencosts,volumeandprofitatvariouslevelsofactivity.
CPU-contributionperunit
BEP=contribution-FC
Tomakezeroprofit,salesvolumeshouldbeat
BEP=FC/CPU
Tomakezeroprofit,salesrevenueshouldbeat
Breakevenrevenue=FC/c/sratio
Salesvolumefortargetprofit=FC+targetprofit/CPU
利润率指标(不变)
C/Sratio=contribution/sales
=CPU/price
Weightedaveragesalespriceperunit=∑price*volume/∑volume
Marginofsafety
MOS=budgetedsales-BEP------------------insales
MOS=budgetedunits-breakevenunits---------inunits
MOS/budgetedsales(百分比形式)
LimitationsofCVPanalysis
1.Itisassumedthatfixedcostsarethesameintotalandvariablecostsarethesameperunitatalllevelsofoutput.
2.Itisassumedthatsalespriceswillbeconstantatalllevelsofactivity.
3.Productionandsalesareassumedtobethesame.
4.Uncertaintyintheestimatesoffixedcostsandunitvariablecostsisoftenignored.
Advantages
1.Highlightingthebreakevenpointandthemarginofsafetygivesmanagerssomeindicationofthelevelofriskinvolved.
2.Graphicalrepresentationofcostandrevenuedata(breakevencharts)canbemoreeasilyunderstoodbynon-financialmanagers.
3.Abreakevenmodelenablesprofitorlossatanylevelofactivitywithintherangeforwhichthemodelisvalidtobedetermined,andtheC/Sratiocanindicatetherelativeprofitabilityofdifferentproducts.
Risk&uncertainty
Riskinvolveseventswhichmayormaynotoccur,butwhoseprobabilityofoccurrencecanbeestimatedstatistically.
Riskpreference
Ariskseekerisadecision-makerwhoisinterestedinthebestoutcomes,nomatterhowsmallthechancethattheymayoccur.----optimist
Ariskaverseisadecision-makeractsontheassumptionthattheworstoutcomemightoccurandwillmakeadecisiontominimizetherisk.----pessimist
Ariskneutralisadecision-makerwhowillmakeadecisionthatbalanceriskandreturn,andconsiderthemostlikelyoutcome.
Expectedvalue----supportariskneutralattitude
EV=∑possibleoutcome*probabilities
Limitationsofexpectedvalues;
1.Theexpectedvalueofadecisionmaybeavaluethatwillneveroccur.
2.EVisanaveragevalue,itignorestheextremeoutcomes.
3.Itignorestheaspectofprobabilitydistribution.
Sensitivityanalysis
Sensitivityanalysisisusedtotestifythecriticalvaluetomakethedecisioninvalid.Sensitivityanalysiscanhelptoconcentratemanagementattentiononthemostimportantfactors.
Ifxxxcostsaremorethanx%aboveestimate,theprojectwouldmakealoss.
X%=profit/xxcost
Montecarlosimulation
Simulationmodelscanbeusedtodealwithdecisionproblemswhentherearealargenumberofuncertainvariablesinthesituation.Randomnumbersareusedtoassignvaluestothevariables.
PartCBudgetingandcontrol
Abudgetisaquantifiedplanofactionforaforthcomingaccountingperiod.
Objectivesofabudgetaryplanningandcontrolsystem:
1.Ensuretheachievementoftheorganisation’sobjectives
2.Compelplanning
3.Communicateideasandplans
4.Co-ordinateactivities
5.Provideaframeworkofresponsibilityaccounting.
6.Establishasystemofcontrol
7.Motivateemployeestoimprovetheirperformance
Theplanningandcontrolcyclehassevensteps.
Step1.Identifyobjectives
Step2.Identifypotentialstrategies
Step3.Evaluatestrategies
Step4.Choosealternativecoursesofaction
Step5.Implementthelong-termplan
Step6.Measureactualresultsandcomparewiththeplan
Step7.Respondtodivergencesfromtheplan
Feedback
Feedbackisinformationproducedasoutputfromoperations;itisusedtocompareactualresultswithplannedresultsforcontrolpurposes.
Budgetingandperformancemanagement
Afixedbudgetisabudgetwhichremainsunchangedthroughoutthebudgetperiod,regardlessofdifferencesbetweentheactualandtheoriginalplannedvolumeofoutputorsales.---------planningpurpose&preparedinadvance
Aflexiblebudgetisabudgetwhich,byrecognisingdifferentcostbehaviourpatterns,ischangedasthevolumeofoutputandsaleschanges.------controlpurpose&preparedretrospectively
Top-down(Imposedbudgeting)
Budgetpreparedby