f5练习册讲解姜老师录制上课讲义考官文章session1specialist costing systems

1、ACCA F5 Performance Management财华国际SESSION 1 SPECIALIST COSTING SYSTEMSNATURE AND PURPOSE OF MANAGEMENT INGManagementing involves the identification, measurement, accumulation, analysis,preparation, interpretation and communication of information used by management to plan, evaluate and control withi

2、n an entity, and to assure appropriate use of andability for its resources.Managementing is therefore concerned with the collection of data (from bothinternal and external resources), its analysis and processing into information, and the interpretation and communication of that information so as to

3、assist management withplanning, control and decision making.COSTING ISSUESCOST BEHAVIOUR成本性态Variable costs vary in proportion to corresponding changes in the activity level, that is, doubling the level of activity will double the total variable cost. Consequently, total variable costs are linear and

4、 unit variable cost is constant. Examples of variable costs include direct materials, direct labour, direct expenses and sales commissions.Fixed costs are insensitive to activity level fluctuations but are determined by the influence of time, that is, they remain constant over wide ranges of activit

5、y for a specified time period. Examples of fixed costs include depreciation of building, supervisors' salaries andrent.房租等Semi-variable costs include both fixed and variable components of cost. Examples of semi-variable costs include electricity, telephone charges, maintenance and repairs costs

6、and indirect wages.考的最多的，overhead：间接费用（最典型的），因为没有办法直接归属到 中，activity 是多少的时候 overhead 是多少：用高低点法计算出可变成本和固定成本各是多少，而固定的这一部分恰好决定了吸收成本法和边际成本法的不同！1TELL：65648112 FAX：65648112-604：SYLLABUS CONTENT1. Activity-based costing2. Life-cycle costing3. Throughputing4. Target costing5. Environment costingACCA F5 Perfo

7、rmance Management财华国际COST CLASSIFICATION任何一个的成本：料（material）、工（labour）、费 overhead：一定包含 variable和 fixed 的，fixed 的不同决定了处理的不同。但这些料工是与相关的。成本和费用的区别：成本是跟生产相关的，能归结到中的，财务报表中以主营业务成本列示，不能够归属于成本的属于费用直接费用、间接费用、期间费用的区别：ASCERTAINING COSTSCOST CARD2TELL：65648112 FAX：65648112-604：Direct materialsXDirect labourXDirec

8、t expenses-这里不是料、工、费，不是 overhead，也不考XPRIME COSTXVariable Production overheadsXMARGINAL PRODUCTION COSTXFixed Production overhead-边际成本法不，吸收成本法。XTOTAL PRODUCTION COSTXNon production overheads:AdministrationXSellingXDistributionXTOTAL COSTXProfitXSales PriceXBy element 按照成分Ø MaterialØ Labour&

9、#216; ExpensesBy function 按照部门Ø ProductionØ MarketingØ Research and developmentØ AdministrationØ SellingBy Nature 按照性质，能否直接计入成本，但都是成本，间接的要分配Ø Direct costØ Indirect costBy behaviors 按照性态Ø FixedØ VariableØ Semi-variableACCA F5 Performance Management财华国

10、际Direct materialsMaterials are issued to production from the stores or specially purchased from and are calculated using the FIFO or weighted average method.rsDirect labourDirect-labour costs are total hours worked based on basic wage rate. Overtime premium is regarded as an overhead unless the over

11、time was worked at the request of the customer.OverheadsOverhead is the cost incurred in the course of making a product, providing a service of running a department, but which cannot be traced directly and in full to the product, service or department. Overhead is usually the total of (1) Indirect m

12、aterial, (2) Indirect labour, (3) Indirect expenses (including production, administration and selling overheads)ABSORPTION COSTING F2 的内容Under the absorption costing method, in addition to direct costs, a share of indirectproduction cost (overheads) is attributed to cost units by means of overhead a

13、bsorptionrates.吸收的是 fixed production overhead。怎么把 fixed overhead 放到的就是这个；边际成本法的思路是发生多少减多少。中去，吸收Absorption is the process of adding overheads to, or absorbing them into, the cost of products. This is achieved by means of absorption rates computed for production cost centers. The nature of the manufac

14、turing work being carried out by the center willdetermine how the absorption rate is arrived at.But actual overheads are not known until the end of the year. Thus it is not possible to carry out periodic stock calculation, costing and invoicing job/service, quotation for acontract etc on time.So the

15、 figures for the production overheads are not actual overheads incurredbut rather are estimates or budgeted figures. Budgeted overheadsBudgeted level of activityAbsorption rate =THE BASES OF OVERHEAD ABSORPTION MAY BE:a)b)c)d)e)Rate per direct labour hour Rate per machine hourDirect material percent

16、age method Direct wages percentage methodPrime cost percentage3TELL：65648112 FAX：65648112-604：ACCA F5 Performance Management财华国际f)Units of output methodOVER / (UNDER) ABSORPTION OF OVERHEADSThe rate of overhead absorption is based on estimates (of both numerator and denominator) and it is quite like

17、ly that either one or both of the estimates will not agreewith what actually occurs.每个加起来的和不等于总实际 fixed overhead。0ver-absorption means that the overheads charged to the products/jobs are greaterthan the overheadually incurred.Under-absorption means that insufficient overheads have been included in t

18、he cost ofproducts/services.Format: -下MARGINAL COSTINGUnder absorption costing the unit cost includes an absorbed amount calculated from total overheads, i.e. fixed plus variable. Under marginal costing only variable costs are chargedto cost units. Fixed costs for a period are fully written off一直就没管

19、 fixed overhead，到期末直接减去实际的数。contribution.Marginal costing is an alternative to absorption costing, marginal costing classifies cost by cost behavior into fixed and variable elements. Its primary use is for decision making but itmay also be used for budgetary control.VARIABLE COSTA cost which tends t

20、o vary, in total, with the level of activityFIXED COSTThe cost which is incurred for a period, and which, within certain output and turnover limits tends to be unaffected by fluctuations in the levels of activity (output or turnover).COMPARISON OF ABSORPTION COSTING AND MARGINAL COSTING4TELL：6564811

21、2 FAX：65648112-604：Overheads Absorbed (actual level of activity×OAR)XOverheads Incurred (actual results)(X)Over/under absorption of overheadsX/(X)ACCA F5 Performance Management财华国际MARGINAL COSTING TERMINOLOGYMarginal cost - The sum of all the variable costsContribution - The difference between

22、sales revenue and the marginal cost of sales. Itmay be thought as short for "Contribution towards covering fixed costs and making a profit" 边际贡献 =selling price - variable cost ， 能贡献多少去抵挡固定成本，profit=contribution- fixed cost，一个的边际贡献是一定的，但利润不是一定的EXERCISE 1Selling price = Variable cost = Fixed

23、 costs are15 per unit9 per unit25,000 per monthBudgeted sales are8,000 units per month.Required:a)b)c)Calculate the unit contributionCalculate the budgeted monthly contribution Calculate the budgeted monthly profit.5TELL：65648112 FAX：65648112-604：(a) Unit Contribution = 15- 9 = 6(b) Budgeted monthly

24、 contribution = 6 x 8,000 = 48,000(c)Budgeted monthly profit =48,000 - 25,000 = 23,000ACCA F5 Performance Management财华国际MARGINAL COSTING VS ABSORPTION COSTINGPROFIT RECONCILIATIONS (MARGINAL AND ABSORPTION COSTING)计算利润时候的区别：边际成本法：实际发生多少减多少，如果销售量为 0，则依然要减 fixed overhead；吸收成本法：fixed overhead 没有减掉，因为销量

25、为 0，只要不卖出去的话就不计入该 。期初存货期末的时候，本期生产的一部分没卖出去，这一部分的 fixedoverhead 就没有减掉，吸收成本法下的利润就大于边际成本法下的，差异就是这一部分的6TELL：65648112 FAX：65648112-604：Absorption costing formula就没有 contribution 的概念了！SalesX Less: Cost of sales- opening stockX- production costsX- closing stock(X)(X) XLess: Over/under absorption-多吸收或少吸收的调节X

26、/(X)Gross profitXLess: Non-production cost- variable(X)- fixed(X)Net profitXMarginal costing formulaSalesXLess: Cost of salesF3 的内容- opening stockX- production costsX- closing stock(X)(X) XLess: Non-production variable cost(X)ContributionXLess: Fixed cost- production(X)- non-production(X)Net profitX

27、ACCA F5 Performance Management财华国际fixed overhead；反之期初期末的时候，把期初的一部分也卖出去了，F2 的内容，F5 基本不考。In the example above operating profit is the same under both methods. That will not be so, however, where stock levels change over a period, the reported profits under marginalcosting and absorption costing will d

28、iffer.Under marginal costing, stock will be valued at variable costs only. Under absorptioncosting, stock will be valued at variable cost plus fixed production overheads.RECONCILIATION STATEMENT:Profit difference = change in stock×fixed overhead absorption rate7TELL：65648112 FAX：65648112-604：Pr

29、ofit on marginal costingXAdd: change in stock × fixed production overhead per unitX/(X)Profit on absorption costingXACCA F5 Performance Management财华国际ACTIVITY BASED COSTING 与吸收成本法的区别依然是 FIXED OVERHEAD，就是怎么吸收PROBLEMS WITH TRADITIONAL ABSORPTION COSTINGAbsorption costing links overhead costs to t

30、he cost unit:WHY IS THE ABOVE NOT GOOD ENOUGH?The problem is the arbitrariness (guesswork) （ 武断的决策，用一个基准去解释所有的fixed overhead 的变化）involved in linking the overhead costs to the cost unit. We do not know the accurate product cost.从外部看总量一样，但内部怎么分的不同In overall terms the total costs are charged to the pro

31、duction units, and as such it isacceptable for external reporting purposes. (In the profit and losssheet we are only concerned with total or aggregated information.)and the balanceThe information required for internal reporting is moreed, and as such the individualproduct costs are necessary. The fu

32、ll absorption cost is not accurate enough for planning or control purposes. The costs have become increasingly inaccurate over time due to the following factors:以前可能的成本就是材料和人工，但现在可能 overhead 比重越来越大，与产量的也不再严格的挂钩。.Increased complexity of operation Increased percentage of overhead costs Reduced

33、significance of labourLess volume related costsChoice8TELL：65648112 FAX：65648112-604：Cost unitsCost centresOverhead Cost ItemACCA F5 Performance Management财华国际AN IMPROVED FORM OF ABSORPTION COSTINGImpact: More accurate product costs有一些 overhead 的驱动因素一样，同样的归到一个相同的 cost pool 里面。Activity cost pool: An

34、activity that incurs cost. Costs are linked to the activity accurately and from the activity to the cost unit. Knowledge of the activity is key to the application of ABC. The knowledge gained should enhance the decision making of the business because the manner in which costs are incurred is now bet

35、ter understood. Costs may also be better controlled because they may be controlled (and reduced) at source.Cost driver: The 'Root Cause', the causal link between the activity and the cost unit. They describe exactly how the production of units incurs costs within the activity. The overhead i

36、s linked to the cost unit using a cost driver rate. Further, the cost driver rate may be considered critical to control of overheads. By controlling (or reducing) the incidence of thecost driver, the amount of overhead can be controlled.根源，真正的解释了活动和成本的Cost poolCost driver rate =Level of Cost Drivers

37、作业成本法是一种更加精确的吸收成本法，精确在 fixed production overhead 的吸收上去了Choice9TELL：65648112 FAX：65648112-604：Cost poolSet-up costs Production scheduling Inspection costs Purchase costs Dispatch costsCost driversNumber of production runs Number of production runs Number of inspection Number of purchase ordersNumber

38、of deliveries to customersACCA F5 Performance Management财华国际COMMENTS ON ABC METHODMerits of Activity-based CostingIt focuses attention on the nature of cost behaviour and attempts to provide more meaningful and reliable product costs.关注成本性态It recognises that costs arise out of the complexity and div

39、ersity of operations.复杂性和多样性It takes product costing beyond traditional factory floor boundaries and considers other aspects like design, quality, etc.很多的基准都可以出现It helps to identify costs that do or do not add value.增加价值lllllIt is ideally suited to customise profitability analysis.分析，可能看起来实则不然。，Crit

40、icisms of Activity-based CostinglIt is more complex than absorption costing and so should not be introduced unless it provides additional management information.复杂Some measure of arbitrary cost apportionment is still necessary.依然武断The ability of one cost driver to explain the cost behaviour of all i

41、tems in a cost pool is questionable.合理性Cost drivers might be difficult to identify.成本驱动因素ABC does not resolve all of the problems associated with overhead allocation.并没有完全解决 overhead 的问题。ABC may be a distraction from other vital issues, eg. No. of purchase order ascost driver, efforts of each purcha

42、se officer may be ignored.忽视了其他重要因素。lllll10TELL：65648112 FAX：65648112-604：ACCA F5 Performance Management财华国际EXERCISE 2-网课讲了Hensauhas a single production process for which the following costs have beenestimated for the period ending 31 December 20X1:Material receipt and inspection costs Power costsMa

43、terial handling costs15,60019,500 13,650produced by workers who perform a number ofThree products - X, Y,and Z - areoperations on material blanks, using hand held electrically powered drills. The workers arepaid 4 per hour.The following budgeted information has been obtained for the period ending 31

44、 December20X1:Product X 2,00010Product Y 1,5005Product Z 80016Production quty (units)Batches of Material Data per product unit:Direct material (square metres) Direct material cost ()Direct labour (minutes)No. of power drill operations452466340336602Overhead costs for material receipt and inspection,

45、 process power and material handling are presently each absorbed by product units using rates per direct labour hour.An activity based costing investigation has revealed that the cost drivers for the overheadcosts are as follows:Material receipt and inspection: Process power:Material handling:Number

46、 of batches of material Number of power drill operationsQuty of material (square metres) handledRequired:(a)Prepare a summarywhichshows the budgeted product cost per unit for eachproduct of X, Y, and Z for the period ending 31 December 20Xleach cost element using:ing the unit costs for(i)(ii)the exi

47、sting method for the absorption of overhead costs andan approach which recognises the cost drivers revealed in the activity basedcosting investigation.(22 marks)(b) Explain the relevance of cost drivers in activity based costing. Make use of figuresfrom the summary statement prepared in (a) to illus

48、trate your answer.(8 marks)(Total: 30 marks)两种成本法下材料和人工都一样。不同的是 overhead：对于吸收成本法，是单一的基准，对于 ABC 就是多个基准.11TELL：65648112 FAX：65648112-604：ACCA F5 Performance Management财华国际ABC 的论述不管问什么，一定是着成本的差异来展开的，一定要去解释相关的cost driver，各种结果都是成本驱动因素的不同所导致。12TELL：65648112 FAX：65648112-604：(a)(i)Existing methodThe existi

49、ng overhead absorption rate is: 15,600 +19,500 +13,650=48,750 (2,000 x24/60)+(1,500 x40 / 60)+(800 x 60/60)2,600= 18.75 per hour Unit costProductProductProduct XYZDirect material5.003.006,00Direct labour1.602.674,00Production overhead7.5012.5018.7514.1018.1728.75(ii) Activity-based method Cost drive

50、r ratesMaterial receipt and inspection = 15,60010 + 5 +16= 503.23 per batchProcess power=19,500(2,000 x6)+(1,500 x3)+(800 x2)=1.0773 per power drill operation Material handling= 13,650(2,000 x4)+(1,500 x6)+(800 x3)=0.70361 per sq meter handled.XYZDirect material5.003.006.00Direct labour1.602.674.00P

51、roduction overheadMaterial receipt (W1)2.521.6810.06Process power (W2)6.463.232.15Material handling (W3)2.814.222.11ACCA F5 Performance Management财华国际13TELL：65648112 FAX：65648112-604：Cost per unit18.3914.8024.32(W1) Material receipt/inspection Cost/unitProduct X 503.23/batch x 10 batches ÷ 2,00

52、0 units = 2.52/unitProduct Y 503.23/batch x 5 batches ÷ 1,500 units = 1.68/unit. Product Z 503.23/batch x 16 batches ÷ 800 units = 10.06/unit.(W2) Process powerProduct X 6 operations x 1.0773/operation = 6.46 (W3) Material handlingCost/unitProduct X 0.70361/m2 of material x 4m2 = 2.81 Prod

53、uct Y0.70361/m2 of material x 6m2 = 4.22 Product Z 0.70361/m2 of material x 3m2 = 2.11(Note:An alternative approach would apportion the total overhead costs,15,600, etc, between the three products then find an overhead cost per unit.)(b) The cost driver is the 'Root Cause', the causal link b

54、etween the activity and the cost unit. It describes exactly how the production of units incur costs within the activity. The overhead is linked to the cost unit using a cost driver rate. Further, the cost driver rate may be considered critical to control of overheads. By controlling (or reducing) th

55、e incidence of the cost driver, the amount of overhead can be controlled. For example, material receipt and inspection costs 503 per batch. Product Z is produced using a large number of small batches (16 batches to produce 800 units) compared to products X and Y. This means that the materials receipt and inspection cost is very high per unit for Z (10.06) compared to X (2.52) and Y (1.68). One way to reduce the costs would be to reduce the number of batches (orders) of material.ACCA F5 Performance Management财华国际EXERCISE 3 BMLBML has three product lines: P1, P2