ACCA F5考试讲义精选.docx
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ACCA F5考试讲义精选.docx
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ACCAF5考试讲义精选
2015年12月ACCAF5考试讲义精选
Advancedcostingmethod
Chapterlearningobjectives
Uponcompletionofthischapteryouwillbeableto:
§explainwhatismeantbythetermcostdriver
§identifyappropriatecostdriversunderactivity-basedcosting(ABC)
§calculatecostsperdriverandperunitusing(ABC)
§compareABCandtraditionalmethodsofoverheadabsorptionbasedonproductionunits,labourhoursormachinehours.
§explaintheimplicationsofswitchingtoABConpricing,performancemanagementanddecisionmaking.
§explainwhatismeantbytheterm‘targetcost’inbothmanufacturingandserviceindustries.
§deriveatargetcostinbothmanufacturingandserviceindustries.
§explainthedifficultiesofusingtargetcostinginserviceindustries
§explaintheimplicationsofusingtargetcostingonpricing,costcontrolandperformancemanagement.
§describethetargetcostgap.
§suggesthowatargetcostgapmightbeclosed.
§explainwhatismeantbytheterm‘life-cyclecosting’inamanufacturingindustry
§identifythecostsinvolvedatdifferentstagesofthelife-cycle.
§explaintheimplicationsoflife-cyclecostingonpricing,performancemanagementanddecisionmaking.
§describetheprocessofback-flushaccountingandcontrastwithtraditionalprocessaccounting.
§explain,foramanufacturingbusiness,theimplicationsofback-flushaccountingonperformancemanagement
§evaluatethedecisiontoswitchtoback-flushaccountingfromtraditionalprocesscontrolforamanufacturingbusiness.
§explainthroughputaccountingandthethroughputaccountingratio(TPAR),andcalculateandinterpret,aTPAR.
§suggesthowaTPARcouldbeimproved.
1Activitybasedcosting
1.1Introduction–absorptioncost
InF2wesawhowtodetermineacostperunitforaproduct.Keyissuesofrelevanceherearethefollowing:
Firmshavethechoiceoftwobasiccostingmethods–marginalcostingandabsorptioncosting.
Toenablethis,alloverheadsmustfirstbeallocated/apportioned/reapportionedintoproductiondepartments,againusingasuitablebasis(e.g.rentonthebasisoffloorarea).
Overheadexpensesincurred/budgeted
Step1:
OverheadsallocatedorapportionedtocostcentresusingsuitablebasesCostcentres(usuallydepartments)
Step2:
Servicecentrecostsreapportionedtoproductioncentres
Step3:
OverheadsabsorbedintounitsofproductionusinganOAR(usuallyonthebasisofdirectlabourhours)output
Expandabletext
Theassumptionunderlyingthetraditionalmethodofcostingisthatoverheadexpenditureisconnectedtothevolumeofproductionactivity.
§Thisassumptionwasprobablyvalidmanyyearsago,whenproductionsystemwerebasedonlabour-intensiveormachine-intensivemassproductionoffairlystandarditems.Overheadcostswerealsofairlysmallrelativetodirectmaterialsanddirectlabourcosts;thereforeanyinaccuracyinthechargingofoverheadstoproductscostswasnotsignificant.
§Theassumptionisnotvalidinacomplexmanufacturingenvironment,whereproductionisbasedonsmallercustomisedbatchesofproducts,indirectcostsarehighinrelationtodirectcosts,andahighproportionofoverheadactivities–suchasproductionscheduling,orderhandlingandqualitycontrol–arenotrelatedtoproductionvolume.
§Forsimilarreasons,traditionalabsorptioncostingisnotwell-suitedtothecostingofmanyservices.
1.2ABCandcostdrivers
ABCisanalternativeapproachtothetraditionalmethodofabsorptioncostingoutlinedabove.
Thetraditionalmethodofoverheadabsorptioneffectivelyabsorbsonaproductionvolumebasisandmaybemisleadingforcostswherethebehaviourisnotdirectlyrelatedtoproductionvolume.
Forexample,thecostofqualitycontrolmaybedrivenmorebythenumberofinspectionsmaderatherthantheoverallvolumeofunitsmanufactured.
TheABCapproachistolinkoverheadcoststotheproductsorservicesthatcausethembyabsorbingoverheadcostsonthebasisofactivitiesthat‘drive’costs(costsdrivers)ratherthanonthebasisofproductionvolume.
§Acostpoolisanactivitythatconsumesresourcesandforwhichoverheadcostsareidentifiedandallocated.Foreachcostpool,thereshouldbeacostdriver.
§Acostdriverisaunitofactivitythatconsumesresources.Analternativedefinitionofacostdriverisafactorinfluencingthelevelofcost.
Expandabletext
TheconceptsorassumptionsunderlyingABCare:
§Inthelongrun,alloverheadcostsarevariable.Someoverheadsarevariableintheshortrun.However,overheadcostsdonotnecessarilyvarywithproductionvolumeorservicelevel.
§Activitiesconsumeresources.
§Theconsumptionofresourcesdrivescost.
Productsincuroverheadcostsbecauseoftheactivitiesthatgointoprovidingtheproductsorservices,andtheseactivitiesarenotnecessarilyrelatedtothevolumesoftheproductthataremanufactured.Directlabourhoursandmachinehoursarenotthedriversofcostinmanymodernbusinessenvironments.
Understandingtherelationshipbetweenoverheadcosts,activitiesandproducts(orservices)isessentialformanagingoverheadcostsandproductorserviceprofitability.
Absorptionofoverheadsintounitcostsonavolumebasismaybemisleading,particularlyinamodernmanufacturingenvironmentwhereoverheadcostsareinfluencedbythediversityandcomplexityofoutputratherthanvolume.
Illustration1–ABC
Acompanymanufacturestwoproducts,XandY.Thecompanyusesabsorptioncostingandfixedproductioncostsandabsorbedintoproductioncostsonadirectlabourhourbasis.
Thebudgetedinformationforthenextfinancialyearisasfollows:
ProductXProductYTotal
Productionandsales2,000units5,000units
Directlabourhoursperunit32
Budgeteddirectlabourhours6,00010,00016,000
Fixedproductioncosts$48,000
Absorptionrateperdirectlabourhour
Fixedoverheadsabsorbed$18,000$30,000
UsingABC
Areviewoftheincidenceofcostshasestablishedthatthenumberofsetupsisthedriverofthefixedproductioncosts.UsingABCthefixedproductioncostswouldbeallocatedasfollows:
No.ofsetupsper1,000units81.6
Budgetedsetups16824
Costpersetup$2,000
Fixedoverheadsallocated$32,000$16,000
Thisdifferenceincostingcouldhavesignificantimplicationsforpricing,especiallyifacost-basedapproachisusedforprofitcalculation.These,andotherimplicationsarediscussedinmoredetailbelow.
Activity-basedcostingcouldprovidemuchmoremeaningfulinformationaboutproductcostsandprofitswhen:
§indirectcostsarehighrelativetodirectcosts
§productsorservicesarecomplex
§productsorservicesaretailoredtocustomerspecifications
§someproductsaresoldinlargenumbersandothersinsmallnumbers.
1.3IdentifyingappropriatecostdriversunderABC
UnderABCcostsaredrivenbyactivitiesandnotproductionvolume.TypicaloverheadswhichareNOTdrivenbyproductionincludethefollowing:
§Setupcosts–drivenbythenumberofmanufacturingsetups.
§Orderprocessingcosts–drivenbythenumberoforders.
§Packingdepartmentcosts–drivenbythenumberofpackingorders.
§Engineeringdepartmentcosts–drivenbythenumberofproductionorders.
§Airconditioningmaintenance–numberofairconditioningunits
1.4calculatingcostsperdriverandperunitusingABC
TherearefivebasicstepsinestablishingandapplyingasystemofABC:
Step1Identifyactivitiesthatconsumeresourcesandincuroverheadcosts.
Step2Allocateoverheadcoststotheactivitiesthatincurthem.Inthisway,eachidentifiedactivitybecomesacostpoolforoverheadcosts.Itisimportantthatoverheadcostsshouldbedirectlyallocatedtoacostpool.Thereshouldnotbeanyarbitraryapportionmentofoverheadcosts.
Step3Determinethecostdriverforeachactivityorcostpool.
Step4Collectdataaboutactualactivityforthecostdriverineachcostpool.
Step5Calculatetheoverheadcostofproductsorservices.Thisisdonebycalculatinganoverheadcostperunitofthecostdriver(acostperunitofactivity).Overheadcostsarethenchargedtoproductsorservicesonthebasisofactivitiesusedforeachproductorservice.
1.5ComparingcostsperdriverandperunitusingtraditionalmethodsandABC
Traditionalabsorptioncostingchargesoverheadcoststoproducts(orservices)inanarbitraryway.
Theassumptionthatoverheadexpenditureisrelatedtodirectlabourhoursormachinehoursintheproductiondepartmentsisnolongerrealisticforthevastmajorityofcompanies.
Thiswillleadtoverydifferentvaluesofoverheadsabsorbedperunit.
1.6AdvantagesanddisadvantagesofABC
ABChasanumberofadvantages:
§Itprovidesmuchbetterinsightintowhatdrivesoverheadcosts.
§ABCrecognisesthatoverheadcostsarenotallrelatedtoproductionandsalesvolume.
§Inmanybusinesses,overheadcostsareasignificantproportionoftotalcosts,andmanagementneedstounderstandthedriversofoverheadcostsinordertomanagethebusinessproperly.Overheadcostscanbecontrolledbymanagingcostdrivers.
§Itcanbeappliedtoderiverealisticcostsinacomplexbusinessenvironment.
§ABCcanbeappliedtoalloverheadcosts,notjustproductionoverheads.
§ABCcanbeusedjustaseasilyinservicecostingasinproductcosting.
§CriticismsofABC:
§Itisimpossibletoallocatealloverheadcoststospecificactivities.
ABCcostsarebasedonassumptionsandsimplifications.Thechoiceofbothactivitiesandcostsdriversmightbeinappropriate.
§ABCcanbemorecomplextoexplainto
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