ACCAF3考试知识点汇总

1、2021 年12月ACCA F3测试知识点汇总Types of bus in ess en tity A bus in ess can be orga ni zed in one of the several ways:Sole trader- a bus in ess owned and operated by one pers on.The simple form of bus in ess is the sole trader. This is owned and man aged by onepers on, although there might be any nu mber of

2、 employees. A sole trader is fullypers on all y liable for any losses that the bus in ess might make.Partn ership- a bus in ess owned and operated by two or more people.A part nership is a bus in ess owned join tly by a nu mber of part ners. The part ners arejoin tly and severely liable for any loss

3、es that the bus in ess might make.(Traditi on ally the big acco unting firms have bee n partn erships, although some arecon verting their status to limited liability companies.)Limited Liability Compa ny a bus in ess owned by many people and operated bym any ( though not necessarily the same) people

4、.Companiesare owned byshareholders. Sha reholders are also known as members. As a group, they elect the directors who run the b usin ess. Compa nies are always limited compa ni es.In summary, types of bus in ess en tity should be differe ntiatedin Own ership;Operati on right and Liability for the bu

5、s in ess to un dertake.For all three types of en tity, the money put up by the in dividual, the part ners or the shareholders, is referred to as the bus in ess capital. I n the case of a compa ny, this capital is divided into shares. Bus in ess Tran sact ions:Main types of bus in esstran sact ions f

6、or a bus in ess in clude:Purchase of inven tory for resaleSales of goodsPurchase of non-curre nt assetsPayme nt of expe nsesIn troducti on of new capital to the bus in essWithdrawal of funds from the bus in ess by the ownerCash and credit tran sact ions:Cash transactions: the buyer pays for the item

7、 immediately or possibly in advanee.Credit tran sact ions: the buyer does not have to pay for the item on receipt, but is all owed some time ( a credit period) before having to make the payment.Defi niti on of acco un ti ngRecording : transactions must be recordedas they occur in order to provideup-

8、to-dat e in formati on for man ageme nt.Summarizing:the transactions for a period are summarizedin order to provideinform ati on about the compa ny to in terested parties.Types of acco untingFinan cial acco un ti ng vs man ageme nt acco un ti ngAcco unting reports users in clude:Management: Need inf

9、ormation about the company' s financial situation as it iscurre ntly and it is expected to be in the future. This is to en able them to man agethe bus in ess efficie ntly and to make effective decisi ons.n vestors: The providers of risk, capital and their advisers are concerned with the ris k in

10、 here nt in, and retur n provided by, their in vestme nts. They n eed in formati onto help th em determ ine whether they should buy, hold or sell.Trade payables/ Suppliers: Suppliers and other trade payables. Suppliers and other tr ade payables are in terested in in formatio n that en ables them to

11、determ ine whether amounts owing to them will be paid when due. Trade payables are likely to be in terested in an en terprise over a shorter period tha n len ders uni ess they are dependent upon the continuanc e of an enterprise as a major customer.Shareholders: Shareholders are also in terested in

12、market value of shares as well asinformationwhichenables themtoassess theability of the enterprise to paydivide nds.Lenders:Lendersare interestedininformationthat enables them to determinewheth er their loa ns, and the in terest attachi ng to them, will be paid whe n due.Customers: Customers have an

13、 in terest i n in formati on about the con ti nuance ofan e nterprise,especially when they have a long term involvementwith or aredepe ndent on, th e en terprise.Government and their age ncies: Governments are their age ncies are in terested in the allocationof resources and, therefore, the activiti

14、es of enterprises. They alsorequire infor mationin order to regulate the activities of enterprises,determinetaxati on policies and as the basis for n atio nal in come and similar statistics. Employees:Employees and theirreprese ntativegroups are in terestedininformation a bout the stability and prof

15、itability of their employers. They are alsointerested in informati on which enables them to assess the ability of the enterpriseto prove remun erati on, retire ment ben efits and employme nt opport un ities.General public: Enterprises affect members of the public in an variety of ways. For example,

16、enterprises may make a substantial contribution to the local economy in many ways in cludi ng the nu mber of people they employ and their patr on ageoflocal suppliers. Finan cial stateme nts may assist the public by providi ng in formati on about the trends and rece nt developme nts in the prosperit

17、y of the en terprise and the range of its activities.The bus in ess en tity con ceptThe bus in ess en tity con ceptStates that financial accountinginformationrelates only to the activities of thebus in ess en tity and not to the activities of its owner.The bus in ess en tity is treated as separate f

18、rom its own ers.Finan cial Stateme nts in clude:-a statement of financial position at the end of the period-a stateme nt of comprehe nsive in come for the period-a stateme nt of cha nges in equity for the period-stateme nt of cash flows for the period-no tes, compris ing a summary of acco un ti ng p

19、olicies and other expla natory no tesThe stateme nt of finan cial positi on:Stateme nt of Finan cial Positi on: show ing the finan cial positi on of a bus in ess at apoin t of time. The Vertical format of the SFP: (Statement of Financial Position as at31 December 2007)The top half of the bala nee sh

20、eet shows the assets of the bus in ess.The bottom half of the balanee sheet shows the capital and liabilities of the bus ines s.A Statement of financial position at the end of the period (Balance Sheet): W XangBala nce Sheet as at December 31 20X6$5Non - CUTTtstXfoter Vm7,400Cunsit ajostobiVTEntorj&

21、#39;Trade TBceiva'blE吕1,840Cl±ha.ttauLCut in hand565,990T&tal as 畧也$Capital ac ccuzait 1 Jsagjy 20X64200Add net profit for 世ar3h4jOTnrra*# - n dS/p:2,650Le 哥；Drjuiag 伽 yearC2h960)廿剛Non liabilitiMCmrait liabiliti 刖1.00SJ90The horizontal format of the SFP: (Statement of Financial Position

22、 as at 31 Decembe r 2007)The left half of the bala nce sheet shows the assets of the bus in ess.The right half of the bala nce sheet shows the capital and liabilities of the bus in ess. W Xa ngStateme nt of Finan cial Positi on as at 31 December 20x6S£NflDoirrait usfts?vt)n-curTuit liabihliesrO

23、OQTrade24®Total LabilibB2,700Opibl KoountCuTTEIlt a»dsBalianrg 啦 1 Jazsusy JO葢方4.2OTIn.va'tcm*Add net profityear3,450Trsde iHwrvablw"和Jncrpmm in Epital1P(X»f-jQVi at1,7(M6,650Calhan Lind菇L»i： DnnviBLE £br y>ur-2,360工WO5;«J0assetsTotal capital and lmtnliii-sB

24、J90The acco unting equati onFinan cial acco un ti ng is based upon a very simple idea:The amount of resources supplied by the owner is called capital. The actual resources that are the n in the bus in ess are called assets. Usually, people other tha n the owner have supplied some, of the assets, for

25、 example, a supplier supplies stock of goods on credit. The bus in ess is said to owe a liability towards these suppliers.The follow ing acco un ti ng equati on always holds true:The acco unting equati on:ASSETS = PROPRITOR ' S CAPITAL + LIABILITIES-Any point in time, the assets of the bus in es

26、s will be equal to its liabilities plus the capital of the bus in ess;-Assets less liabilities equal the capital of the bus in ess, which is known as n etassets.-Each and every tran sacti on that the bus in ess makes or en ters into has two aspects to it and have a double effect on the bus in ess an

27、d the acco unting equati on. This is known as the duality con cept.Duality con cept: Each and every tran sacti on that the bus in ess makes or en ters into ha s two aspects to it and has a double effect on the bus in ess and the acco unting equati ons. This is known as duality con cept.if A=C+L=0 .C

28、=A-LIllustrati on:1) . Carl sets up in bus in ess by ope ning a coffee shop- Carl ' s Coffee. He puts $5,000 into a bus in ess bank acco unt.The ope ning acco unting equatio n is:Assets (Cash in ban k)= Capital + Liabilities($5,000) = ($5,000) + ($0)2) . Carl buys furn iture (chairs and tables)

29、for the shop for $1,500, pay ing the supplie r out of the bus in ess bank acco unt.The accounting equation after this transaction is:Assets Capital + Liabilties(Cash in bank $3,500) = ($5,000) ($0)(Furniture $ 1,500)3) . Now Carl spends a further $2,000 to buy coffee-making equipment and $800 on cro

30、ckery and cutlery, pay ing cash out of the bus in ess bank acco unt.The accounting equation after this transaction is:Assets Capital + Liabilties(Cash in Ba nk $700) = ($5,000) ($0)(Equipment $2,000)(Fitting & Fixture $800)(Furniture $1,500)4) . Carl persuades his bank to lend $1,000 to develop

31、the bus in ess. The bank loa n is acco un ted for as a liability of the bus in ess.The acco un ti ng equati on is now as follows:Assets Capital + Liabilties(Cash in Bank $1,700) = ($5,000) ($1,000)(Equipment $2,000)(Fitting & Fixture $800)(Furniture $ 1,500)5) . Carl now buys coffee, tea, milk,

32、sugar, biscuits and cakes for $700, and pays in cash from the bus in ess bank acco unt.The acco un ti ng equati on is now as follows:Assets Capital + Liabilties(Inven tory $700) = ($5,000) ($1,000)(Equipment $2,000)(Fitting & Fixture $800)(Furniture $1,500)(Cash in Ba nk $ 1,000)6) . I n his fir

33、st day of trad ing, Carl uses up $650 of his inven tory, and makes sales t otaling $1,050. All his sales are in cash.The acco un ti ng equati on at the end of the day is as follows:Assets Capital + Liabilities(Inven tory $50) = (Begi nning $5,000) ($1,000)(Equipment $2,000) ( Profit $400)(Fitting &a

34、mp; Fixture $800)(Furniture $1,500)(Cash in bank $2,050)Classification of Assets and LiabilitiesAssets: An asset is someth ing owned or con trolled by the bus in ess that will result i nfuture econo mic ben efits to the bus in ess. ( an inflow of cash or other assets.)Such as:Curre nt assets:are ass

35、ets owned by the bus in ess with the inten ti on of turning themint o cash with in one year (acco unting period).This definition allows inventory or receivables to quality as current assets, even ifthe y may not be realized into cash with in 12 mon ths.Non-curre nt asset: is an asset held for and us

36、ed in operati on( rather tha n for sell ing to customer), with a view to earning in come or mak ing profits from its use, for over more than one year ( accounting period).Liability: is somethi ng owed by the bus in ess to some one else.Curre nt liability: These in clude the debts of the bus in ess t

37、hat are repayable with in the n ext 12 mon ths.Non-current liabilities: are liabilities that do not need to be settled for at least oneye ar. (excludi ng the curre nt portion of the debt)Capital: Capital is a type of liability. It represents the owner' s net investment in thebus in ess. Capital

38、appears as a credit bala nee on the bala nee sheet.Assets - Liabilities = PROPRIETOR ' S CAPITALNet Assets =( Total )Assets-(Total) LiabilitiesCapital (at SFP date) = Capital introduced + Profit- DrawingsDraw ing:Draw ings are any amounts take nout of the bus in essby the owner fortheir own pers

39、 onal use. Drawings will reduce the capital bala nee reported on the bala nee sheet.In clude:Money take n out of the bus in essGoods take n for pers onal usePers onal expe nses paid by the bus in essIn come stateme ntIn come stateme nt:Mr. W Xa ngIn come stateme nt for the year en ded 31 December 20

40、X6Sabss. revenueJ3S7«QOpening mvsntnrv"5,10027,690L&si: Qmeis mrsafcryCast(25300：Crass pru£itLes£E Expenses翻尼凸呈STrBiitEmdrvwpMHes565(4,950)3450Show ing the finan cial performa nee of a bus in ess over a period of time.Reports revenue and expe nses for the period.The sales rev

41、enue shows the in come from goods sold in the yearThe cost of buying the goods sold must be deducted from the revenueThe current year' s sales will include goods bought in the previous year, so thisope ning inventory must be added to the current year' s purchases.Some of this year ' s pu

42、rchases will be unsold at 31/12/20x6 and this closing invent.ry must be deducted from purchases to be set off against next year' s sales.The first part gives gross profit. The sec ond part gives net profit.The I.S. prepared follow ing the accruals con cept.Accrual con cept:Income and expenses ar

43、e recorded in the I.S. as they are earned / incurred regardles s of whether cash has bee n received/ paid.(Sales revenue: in come from goods sold in the year, regardless of whether thosegood s have bee n paid for.)Relati on ship betwee n a stateme nt of finan cial positi on and a stateme nt of in co

44、meThe balanee sheets are not isolated statements, they are linked over time with thein come stateme ntAs the bus in ess records a profit in the in come stateme nt, that profit is added tothe capital sect ion of the bala nee sheet, along with any capital in troduced.Cashtake n out of the bus in ess b

45、y the proprietor, calleddraw in gs,is deducted.Illustrati on the acco un ti ng equati on:The tran sact ions:Day 1 Avon comme nces bus in ess in troduct ion $1,000 cash.Day 2 Buys a motor car for $400 cash.Day 3 Buys inven tory for $200 cash.Day 4 Sells all the goods bought on Day 3 for $300 cash.Day

46、 5 Buys inven tory for $400 on credit.SFP at the end of each day ' s transactions:Soluti on:Day 1 Assets (Cash $1,000) = Capital ($1,000) + Liabilities ($0)Day 2 Assets (Motor $400) = Cap ital ($1,000) + Liabilities ($0)(Cash $600)Day 3 Assets ( Inven tory $200) = Capital($1,000) + Liabilities (

47、$0)(Motor $400)(Cash $400)Day 4 Assets ( Motor$ 400) = Capital + Liabilities ($0)(Cash $700) (Begi nnin g$1,000)(Profit $100)Day 5 Assets (In ve ntory $ 400) = Capital + Liabilities(Motor$ 400) (Begi nnin g$1,000)($400)(Cash $700) (Profit $100)Avon Stateme nt of Finan cial Positi on as at end of Day

48、 5UJI从 uh x Lsk sI.NPTctil4鬧耀i45 二肆 JA 整叭 p- F币 Bll 41T4UiJExample: Continuing from the illustration above, prepare the SFP at the end of each day after acco un ti ng for the tran sacti ons below:Day 6 Sells half of the goods bought on Day 5 on credit for $250.Day 7 Pays $200 to his supplier.Day 8 R

49、eceives $100 from a customer.Day 9 Proprietor draws $75 in cash.Day 10 Pays rent of $40 in cash.Day 11 Receives a loa n of $600 repayable in two years.Day 12 Pays cash of $30 for in sura nee.Your starti ng point is the SFP at the end of Day 5, from the illustratio n above.Prepare: SFP at the end of

50、Day 12I.S. for the first 12 days of tradi ng.Soluti on:Day 6 Assets (In ve ntory $ 200) = Capital + Liabilities(Motor$ 400) (Begi nnin g$1,000)($400)(Cash $700) (Profit $150)(A/Receivable$250)Day 7 Assets (In ve ntory $ 200) = Capital + Liabilities(Motor$ 400) (Beg innin g$1,000)($200)(Cash $500) (P

51、rofit $150)(A/Receivable$250)Day 8 Assets (In ve ntory $ 200) = Capital + Liabilities(Motor$ 400) (Begi nnin g$1,000)($200)(Cash $600)(Profit $150)(A/Receivable$150)Day 9 Assets (In ve ntory $ 200) = Capital + Liabilities(Motor$ 400)(Begi nnin g$1,000)($200)(Cash $525) (Profit $150)(A/Receivable$150

52、) (Drawi ng $75)Day 10 Assets (In ve ntory $ 200) = Capital + Liabilities(Motor$ 400)(Begi nnin g$1,000)($200)(Cash $485) (Profit $110)(A/Receivable$150) (Drawi ng $75)Day 11 Assets (Inven tory $ 200) = Capital + Liabilities (Motor$ 400)(Beginning$1,000)($200) |(Cash $1,085)(Profit $110) ($600)(A/Re

53、ceivable$150) (Drawi ng $75)Day 12 Assets (In ve ntory $ 200) = Capital + Liabilities (Motor$ 400) (Begi nnin g$1,000)($200)(Cash $1,055) (Profit $80 ) ($600)(A/Receivable$150) (Drawi ng $75)AvonStateme nt of Finan cial Positi on as at end of Day 1255Wo; 4 rumnt atHfhlOQCurrai dm I sTfwCMtHlHri现Tail

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55、-cSessi on 3 Double entry bookkeep ingThe duality con cept and double entry bookkeep ingDuality con cept: each and every tran sacti on has a double effect on the bus in essand t he accounting equations.(A= C + L)Rules of double entry bookkeep ing: Each time a tran sacti on is recorded, both effects

56、must be take n into acco unt. These two effects are equal and opposite such that the acco unting equati on willal ways prove correct.Assets - Liabilities = Capital Traditi on ally, one effect is referred to as the debit side ( Dr.) and the other as thecredit side of the entry (Cr.)Ledger acco un ts, debits and creditsLedger a