ACCA F2《管理会计》考试复习重点整理：
1.Target cost=target selling price–target profit=market price–desired profit margin.
2.cost gap=estimated cost–target cost.
3.TQM:
preventing costs
appraisal costs
internal failure costs
external failure cost
4.Alternative costing principle:
ABC(activity based costing)
Target costing
Life cycle
TQM
5.Laspeyre
6.Paashe price index
7.Fisher
8.Time series:
trend
seasonal variation:⑴加法模型sum to zero;⑵乘法模型sum to 4
cyclical variation
random variation
9.pricipal budget factor关键预算因子：be limited the activities
10.budget purpose:
communication
coordination
compel the plan
motivative employees
resource allocation
11.Budget committee的功能：①coordinated ②administration
12.Budget：①function budget ②master budget:1.P&L;2.B/S;3.Cash Flow
13.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。
14.Flexible Budget的优点：
recognize different cost behavior.
improve quality and a comparison of like with like
help managers to forecast cost,revenue and profit.
15.Flexible Budget的缺点：
假设太简单。
需要更多的时间准备预算编制。
16.Controllable cost is a“cost which can be influenced by”its budget holder.大部分的变动成本是可控的，non-controllable cost为inflation.
17.Budget Behavior:
participate approach
imposed budget
18.payback投资回收期的缺点：
ignore profitability
the time value of money is ignored
没有考虑项目后期带来的经济利益
arbitray武断
19.payback投资回收期的优点：
easy to calculate
widely use
minimize the effect of the risk and help liqidity
★如果在算投资回收期的时候，发生折旧，则需要加回折旧，因为折旧是非现金项目。
20.(1+real interst rate)*(1+inflation rate)=(1+nominal interest rate)
21.NPV=present value of future net cash flow–present value of initial cost
22.永续年金=A/i
23.每年的汇报是相同的就查看年金现值系数表，不同的就查看年金系数表。
24.EAR=CAR=APR=(1+r/n)n–1有效年利率
25.IRR:(based on cash flow analysis)
IRR>cost of capital,NPV>0,worth taking
IRR<cost of capital,NPV<0,not worthwhile.
26.ARR=average profit/average investment(ARR是基于profit)
Average investment=(initial investment–residual value)/2
27.type of standard:
basic standard
current standard
ideal standard
attainable standard
28.Variance
1．Material Variance
⑴total material variance=standard cost–actual cost
⑵material price variance=(standard price–actual price)*actual quantity
⑶material usage variance=(standard usage of actual output-actual usage)*standard price.
2．Direct Labor Variance
⑴standard pay–actual pay
⑵Labor rate variances=(standard rate–actual rate)*actual hrs of actual output
⑶Labor efficiency variances=(standard hrs of actual output–actual hrs)*standard rate
3．Variable production overhead variances
⑴Total variable O.H.variance=standard cost–actual cost
⑵Variable O.H.expenditure variance=(standard rate–actual rate)*actual hrs
⑶Variable O.H.efficiency variance=(standard hrs of actual output–actual hrs)*standard rate
4．Fixed O.H.expenditure variance
Fixed O.H.Expenditure variance=budget expenditure–actual expenditure
Fixed O.H.volume=(actual output-budgeted volume)*standard hrs per unit*standard rate per hr.
Capacity variance=(actual hrs worked–budgeted hrs worked)*standard rate per hr
Efficiency variance=(standard hrs worked for actual output–actual hrs worked)*standard rate per hr
⑴+⑵：Fixed O.H.total variance=fixed O.H.absorbed–actual expenditure
5．Sales variance
Sales price variances=(actual price–budget price)*actual sales units
Sales volume variances=(actual sales units–budget sales units)*standard profit per unit(absorption)
Sales volume variances=(actual sales units–budget sales units)*standard CPU(marginal costing)
6．Idle time variances
Idle time variance=(expected idle time–actual idle time)*adjusted hr rate
29.The elements of a mission statement including:
Purpose
Strategy
Policies and standards of behavior
Values and culture
30.A critical success factor is a performance requirement that is fundamental to competitive success.
31.Profitability ratios
Return on capital employed(ROCE)=profit before interest and tax/(shareholders’funds+long-term liabilities)×100%
Return on equity(ROE)=profit after tax/shareholders’funds×100%
Asset turnover=sales/capital employed×100%=sales/(shareholders’funds+long-term liabilities)×100%
Profit margin=profit before interest and tax/sales×100%
Profit margin×asset turnover=ROCE
32.Debt and gearing ratios
Debt-to-equity ratio=long-term liabilities/total equity×100%
Interest cover=PBIT/Interest×100%
33.Liquidity ratios
Current ratio=current assets/current liabilities
Quick ratio(acid test ratio)=current assets minus inventory/current liabilities
34.Working capital ratios
Inventory days=average inventory*365/cost of sales
Receivables days=average trade receivables*365/sales
Payables days=average trade payables*365/cost of sales(or purchases)
35.Non-financial performance measures
Non-financial performance measures are considered to be leading indicators of financial performance.
1 Market share
Innovation
Growth
Productivity
Quality
Social aspects
36.The balanced scorecard:
financial perspective
external perspective
customer perspective
learning and innovation perspective
37.Benchmarking:
Internal benchmarking
Competitive benchmarking
Functional benchmarking
Strategic benchmarking
38.Value analysis is a planned,scientific approach to cost reduction,which reviews the material composition of a product and the product's design so that modifications and improvements can be made which do not reduce the value of the product to the customer or user.
39.Four aspects of'value'should be considered:
Cost value
Exchange value
Utility value
Esteem value
40.ROI=PBIT/capital employed*100%
Widely used and accepted;As a relative measure it enables comparisons to be made with divisions or companies of different sizes.
41.RI=PBIT-Imputed interest*capital employed.
Possible to use different rates of interest for different types of assets;Cost of finance is being considered.
