ACCA F2 PartB 12ppt课件

.,Chapter11Processcosting,jointproductsandby-products,.,Studyguide,Distinguishbetweenby-productsandjointproducts.kValueby-productsandjointproductsatthepointofseparation.sPrepareprocessaccountsinsituationswhereby-productsand/orjointproductsoccur.s,.,Jointproductsandby-products1.1JointproductsP240,JointproductsaretwoormoreproductswhichareoutputfromthesameprocessingoperationTheywillbeindistinguishablefromeachotheruptotheirpointofseparation(split-offpoint),.,Theypossesssubstantialsalesvaluebeforeorafterfurtherprocessing,Costsincurreduptothispointarecalledcommoncostsorjointcosts.Jointcostsmustbeapportionedbetweenthejointproducts,.,1.2Problemsinaccountingforjointproducts,Howcommoncostsshouldbeapportionedbetweenproducts,inordertoputavaluetoclosinginventoriesandtothecostofsale(andprofit)foreachproduct.Whetheritismoreprofitabletosellajointproductatonestageofprocessing,ortoprocesstheproductfurtherandsellitatalaterstage.,.,1.3By-products,Aby-productisasupplementaryorsecondaryproductwhicharisesastheresultofaprocessThevalueofaby-productissmallrelativetothatoftheprincipalproduct,.,Whatexactlyseparatesajointproductfromaby-product?,Ajointproductisregardedasanimportantsaleableitem,andsoitshouldbeseparatelycosted.Theprofitabilityofeachjointproductshouldbeassessedinthecostaccounts.Aby-productisnotimportantasasaleableitem,andwhateverrevenueitearnsisabonusfortheorganisation.Becauseoftheirrelativeinsignificance,by-productsarenotseparatelycosted.Jointcostsdonotallocatetoaby-product,.,2.Dealingwithcommoncosts,Therearetwomainmethodsofapportioningjointcostsphysicalmeasurementorsalesvalueatsplit-offpoint,.,2.1Physicalmeasurement,CostsapportionedonbasisofproportionofoutputtothetotaloutputThisproportioncanbebaseduponweightorvolume,.,Physicalunitsbasisusefulwhere:Thejointproductsareinthesameform,e.g.bothsolidsorbothliquidsThejointproductsarecomponentsinanotherproductandthereforehavenorelevantsalesvalue.Limitations:Thismethoddoesnottakeintoaccounttherelativeincome-earningpotentialsoftheindividualproducts,withtheresultthatoneproductmightappearveryprofitableandanotherappeartobeincurringlosses.,.,2.2Salesvaluemethod,CostsapportionedinproportionofsalesvalueofjointproducttototalsalesvalueofoutputTherelativesalesvaluemethodisthemostwidelyusedmethodofapportioningjointcostsbecause(ignoringtheeffectoffurtherprocessingcosts)itassumesthatallproductsachievethesameprofitmargin.Withrelativesalesvalueapportionmentofcommoncosts,thecostisallocatedaccordingtotheproductsabilitytoproduceincome.,.,3.Accountingforby-products,Salesincome(minusanypost-separationfurtherprocessingorsellingcosts)maybeaddedtosalesofthemainproduct.Salesincomemaybetreatedasaseparate,incidentalsourceofincomeagainstwhicharesetonlypost-separationcosts.Salesincomemaybedeductedfromthecostofproductionorcostofsalesofthemainproduct.Thenetrealisablevaluemaybedeductedfromthecostofproductionofthemainproduct.Thenetrealisablevalueisthefinalsaleablevalueminusanypost-separationcosts.,Ifby-productusualoccurrence,Ifby-productbeaone-off,P247.Example:methodsofaccountingforby-products,.,Chapterroundup,Jointproductsaretwoormoreproductsseparatedinaprocess,eachofwhichhasasignificantvaluecomparedtotheother.Aby-productisanincidentalproductfromaprocesswhichhasaninsignificantvaluecomparedtothemainproduct.Thepointatwhichjointandby-productsbecomeseparatelyidentifiableisknownasthesplit-offpointorseparationpoint.Costsincurreduptothispointarecalledcommoncostsorjointcosts.,.,Themainmethodsofapportioningjointcosts,eachofwhichcanproducesignificantlydifferentresultsareasfollows:physicalmeasurement;andrelativesalesvalueapportionmentmethod;salesvalueatsplit-offTherelativesalesvaluemethodisthemostwidelyusedmethodofapportioningjointcostsbecause(ignoringthe