企业财务管理的经典实用课件管理会计教案本量利分析.docx
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企业财务管理的经典实用课件管理会计教案本量利分析
企业财务管理经典实用课件：
管理会计教案——本量利分析
Learningoutcomes
Youshouldbeableto:
Prepareanincomestatement
Discussthenatureandpurposeoftheincomestatement3>.
Explainthemainaccountingprinciplesrelatedtotheincomestatement.
Discussthemainmeasurementissuesthatmustbeconsideredwhenpreparinganincomestatement.
Lecture2:
Measuringandreportingfinancialperformance
Theincomestatement
Thepurposeoftheincomestatement（orprofitandlossaccount）istomeasureandreporthowmuchprofit/lossthebusinesshasgeneratedoveraperiod.
Profit（loss）fortheperiod=totalrevenuefortheperiodlesstotalexpensesincurredingeneratingtherevenue.
Revenue
‘Revenue’isameasureoftheinflowofeconomicbenefitsarisingfromtheordinaryactivitiesofabusiness.
Thesebenefitswillresultinanincreaseincurrentassets（cashoreasilyconvertibletocash‘TradeReceivables’）.
Therecognitionofrevenue
Itisprobablethattheeconomicbenefitswillbereceived.
Theamountofrevenuecanbemeasuredreliably.
Basiccriteriathatmustbemetbeforerevenueisrecognised:
Anadditionalcriteriontobeappliedwheretherevenuecomesfromthesaleofgoods:
Ownershipandcontroloftheitemshouldpasstothebuyer.
Expenses
‘Expenses’representtheoutflowofeconomicbenefitsarisingfromtheordinaryactivitiesofabusiness
Thesebenefitswillresultineitheradecreaseinasset（cash）oranincreaseinliabilities‘TradePayable’.
Tosummarise
Revenuesdonotnecessarilyrepresentcashreceipts.
Also,notalltheexpensesarepaidincash.
Therefore,profitisameasurementofachievement,ratherthanofcashgenerated.
ThesearetheconceptsofAccrualsAccounting.
Balancesheetandincomestatementsarepreparedonthebasisofaccrualsaccounting.
Cashflowstatementsfollowcashbasisofaccounting.
Thematchingconvention
Expensesshouldbematchedtotherevenuetheyhelptogenerate.
Forexample:
anincomestatementshouldincludeallexpensesincurredingeneratingthereportedrevenue.
Thismeansthattheexpensereportedmaynotbethesameasthecashexpendedonthatexpenseinanaccountingperiod.
Whentheexpenseismorethanthecashpaid
Afirmpays2%salescommissiontostaff.
Totalsalesforyearare?
300,000
Commissionstobepaid=0.02x300,000=?
6,000
However,atyearend,only?
5,000hasbeenpaid…
Recognizingexpenses:
Accountingforsalescommission
Salescommissionexpense?
6,000
Incomestatement（profitandlossaccount）
Balancesheetatyearend
Cash?
5,000
ACPayable?
1,000
Cash-?
5000
Cashflowstatement
Whentheamountpaidduringtheyearis
morethanthefullexpenseoftheperiod
Afirmpaysitsrentquarterlyinadvance（1stJan;1stApril,1stJulyand1stOct）.
Onthelastdayofitsaccountingyear（31stDecember）,itpaysthenextquarter’srent（?
4,000）tothefollowing31March,whichwasadayearlierthanrequired.
Tosummarise…
Rentfor4quarters=4X?
4,000=?
16,000.
Cashpayments=5X?
4,000=?
20,000.
Whentheamountpaidduringtheyearismorethanthefullexpenseoftheperiod:
Accountingforrentpayable
Rentpayableexpense?
16,000
Incomestatement
Balancesheetatyearend
Cash?
20,000
Prepaidexpense?
4,000
Cash-?
20,000
Cashflowstatement
Incomestatementlayout
25,500
Profitfortheyear
（1,100）
Loaninterest
2,000
Interestreceivedfrominvestments
24,600
Operatingprofit
（600）
Depreciation–motorvan
（1,000）
Depreciation–fixturesandfittings
（3,400）
Motorvehiclerunningexpenses
（1,000）
Insurance
（1,200）
Telephoneandpostage
（7,500）
Heatandlight
（14,200）
Rentandrates
（24,500）
Salariesandwages
78,000
Gross/Tradingprofit
154,000
Costofsales
232,000
Salesrevenue
?
Thecalculationofdepreciation
Tocalculateadepreciationchargeforaperiod,fourfactorshavetobeconsidered:
Theusefullifeoftheasset
Theresidualvalueoftheasset
Thecostoftheasset
Thedepreciationmethod.
WhatisDepreciation?
Depreciationisanon-cashexpensethatreducesthevalueofanassetovertime.Assetsdepreciatefortworeasons:
Wearandtear.Forexample,anautowilldecreaseinvaluebecauseofthemileage,wearontires,andotherfactorsrelatedtotheuseofthevehicle.
Obsolescence.Assetsalsodecreaseinvalueastheyarereplacedbynewermodels.Lastyear'scarmodelislessvaluablebecausethereisanewermodelinthemarketplace.
Calculationofdepreciation
Thecostofanasset
Includesallcostsincurredbythebusinesstobringtheassettoitsrequiredlocationandtomakeitreadyforuse.
Includescostofasset,deliverycostsandinstallationcosts.
Theusefullifeoftheasset
Physicallifeandeconomiclife.
Economiclifeisaffectedbytechnologicalprogress.
Economiclifemaybemuchshorterthanphysicallife.
Forchargeofdepreciation,economiclifeisconsidered.
Theresidualvalueoftheasset
Disposalvalueoftheassetattheendofitseconomiclife.
Depreciationmethods
Thereareanumberofdepreciationmethods.
Onceadepreciationmethodisadopted,itcannotbechangedwithoutavalidreason（consistencyandcomparability）.
Methods:
1.Straightlinemethod（thesameamountisdeductedeachyear）
2.Reducingbalancemethod（ahighannualdepreciationchargeintheearlyyearsofanasset'slifebuttheannualdepreciationchargereducesprogressivelyastheassetages）.
Depreciationmethods
Expenserecogniseddependson:
Cost（C）
Usefullife（N）
Scraporresidualvalue（S）
Depreciationmethod:
Straight-linemethod
DepreciationCharge=（C–S）
N
ReducingBalancemethod
DepreciationCharge=constantpercentageonthedecreasingbalance,beginningwiththeoriginalcostandreducingittoscrapvalue.
Straight-linemethod
Equipment
Purchase?
75,000（C）
Life5years（N）
Scrapvalue?
5,000（S）
DepreciationCharge=（75,000–5,000）/5=?
14,000
Reducefixedasset,andincreaseexpenses
Depreciationasaperiodcost
（70,000）
（70,000）
Total
（5000）
5,000
Sale
（14,000）
（14,000）
5,000
Year5
（14,000）
（14,000）
19,000
Year4
（14,000）
（14,000）
33,000
Year3
（14,000）
（14,000）
47,000
Year2
（14,000）
（14,000）
61,000
Year1
75,000
（75,000）
Jan1
Rev-Exps
Equipment
Cash
Reducingbalancemethod
Appliesafixedpercentageofdepreciationonthedecreasingbalance,beginningwiththeoriginalcostandreducingittoscrapvalue.
Higherannualdepreciationchargesintheinitialyears,andlowerchargesinlateryears
Depreciation=
Reducingbalancemethod
Costofmachine?
40,000.Usefullife4years.Estimatedresidualvalueattheendof4years?
1,024
Depreciation%=60%everyyear
Reducingbalancemethod
Selectionofdeprecationmethod
Themostappropriatemethodistheonethatbestmatchesexpensetoeconomicbenefits.
Forassetsevenlyconsumedovertime（e.g.buildings）,straight-linemethodmaybeapplicable.
Forassetsthatlosetheirefficiencyovertime（e.g.machinery）,reducingbalancemethodmaybeapplicable.
Taximplications
Costinginventories
Inventory（stock）comprises:
rawmaterials,workinprogressandfinishedgoods.
Importance
Affectpatternofprofit.
Information
Costofsales–P&L.
Unsoldandunusedstock–BalanceSheet.
Calculationofcostofsales
Case
（1）:
PricesareNOTchanging:
Costofsales（COS）orcostofgoodssold（COGS）inaperiod=
openingstock+purchases–closingstock
Example:
Afirmhas?
2,000ofstockat1stJanuary2009;itbuys?
14,000ofstockovertheyearandhas?
3,000ofstockleftat31stDec.
COGS=2,000+14,000-3,000=?
13,000
Lastin,firstout（LIFO）
Weightedaveragecost（AVCO）
Firstin,firstout（FIFO）
Commonassumptionsusedare:
Case
（2）:
Inventorycostingwhenpricesarechanging?
Example
Calculatecostofsalesandclosingstockgiventheinformationbelow:
1JanNostock
1FebBuy1,000@15=15000
1MarBuy500@18=9000
1MaySell500@30=15000
1JulyBuy1,000@2020000
1NovSell400@35=14000
2,50044000
900=29000
FIFO
Closingstock=100@?
15+500@?
18+1000@?
20=?
30,500
13,500
44,000
1600
30,500
6,000
（400）@?
15
1Nov
36,500
20,000
1000@?
20
1July
16,500
7,500
（500）@?
15
1May
24,000
9,000
500@?
18
1Mar
15,000
15,000
1000@?
15
1Feb
Balance
StockA/C
Costof
Sales
Purchase
Cost
LIFO
Closingstock=1000@?
15+600@?
20=?
27,000
17,000
44,000
1600
27,000
8,000
（400）@?
20
1Nov
35,000
20,000
1000@?
20
1July
15,000
9,000
（500）@?
18
1May
24,000
9,000
500@?
18
1Mar
15,000
15,000
1000@?
15
1Feb
Balance
StockA/C
Costof
Sales
Purchase
Cost
AVCO
Closingstock=1,600@?
18=?
28,800
15,200
44,000
1600
28,800
7,200
（400）@?
18
1Nov
36,000
20,000
1000@?
20
1July
16,000
8,000
（500）@?
16
1May
24,000
9,000
500@?
18
1Mar
15,000
15,000
1000@?
15
1Feb
Balance
StockA/C
Costof
Sales
Purchase
Cost
AVCO:
Notes
On1stMarch
Costofstock=24,000
Stockunits=1,000+500=1,500
AVCO=24,000/1,500=?
16
On1stJuly
Costofstock=36,000
Stockunits=1,000+500–500+1000=2,000
AVCO=36,000/2,000=?
18
Summary
28,800
27,000
30,500
Closingstock
13,800
12,000
15,500
Profit
15,200
17,000
13,500
Costofsales
29,000
29,000
29,000
Sales
AVCO
LIFO
FIFO
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