2014年ACCA考试F2管理会计考前复习本文由高顿ACCA整理发布，转载请注明出处Session 1 The Nature, Source and Purpose of Management AccountingMain contents:1. Data and information2. The managerial processes of planning, decision making and control3. Responsibility accounting4. Management accounting and financing accounting5. Presentation of management information1.1 Data and Information· Data consists of raw materials, which include numbers, letters, symbols, facts, events and transactions, that have been recorded but not yet processed into a form suitable for use.· Information is data which has been processed in such a way that it is meaningful to the person to the person who receives it. (for decision making purpose) The attributes of good information c an be identified by the “ACCURATE” as shown below:· Accurate: accurate enough for the purpose· Complete: all the necessary information· Cost- effective: benefit > costs· Understandable: clear and easy to understand· Relevant: relevant to purpose· Accessible: the best way to communicate with the related person· Timely: be available at the right time· Easy to use: by management更多ACCA资讯请关注高顿ACCA官网：。
Examiner’s reportF2/FMA Management AccountingFor CBE and Paper exams covering January to June 2014 General CommentsThe structure of the exam changed from previous sittings due to the introduction of multi task questions (MTQs) to both the CBE and paper based examination. From now onwards section A of the paper will contain 35 multiple choice questions (MCQs) – each worth 2 marks, and section B will have 3 MTQs worth ten marks each. All questions are compulsory. The paper remains a two hour examination. A pilot paper reflecting this new structure is available on the ACCA website together with a number of practice MTQsAs always, excellent scores were achieved by some candidates. I congratulate both them and their teachers. I offer my commiserations to those who were not successful.In section A the worst answered MCQ questions were calculation based. Calculation questions accounted for approximately 40% of MCQ questions, and as usual were answered worse than the narrative based MCQs.The best answered questions were of a narrative nature.In section B two thirds of the marks were for calculation. There was little difference in performance between section B calculation and narrative questions.As is usually the case for this paper, F2 candidates on average, performed better than FMA candidates, but on this occasion the difference was narrower than usual.The following questions are ones where the performance of candidates was very weak. Each of these questions relate to a mainstream topic in the Study Guide.Section A Sample questions for discussionExample 1A company uses standard absorption costing. Actual profit last period was $25,000, which was $5,000 less than budgeted profit. The standard profit on actual sales for the period was $15,000. Only three variances occurred in the period: a sales volume profit variance, a sales price variance and a direct material price variance.Which of the following is a valid combination of the three variances?Sales volume Sales price Direct materialprofit variance variance price varianceA $15,000 A $2,000 F $8,000 FB $5,000 A $2,000 A $2,000 FC $15,000 A $2,000 A $8,000 AD $5,000 A $5,000 F $5,000 AThe correct answer is A.The correct answer can be arrived at by looking for a combination of variances that satisfy two criteria(i)The total of the variances must add to $5,000 adverse as actual profit is $5,000 less than budgetedprofit(ii)As budgeted profit is $30,000 ($25,000 actual plus a $5,000 adverse variance) and standard profit on actual sales is $15,000 (given) then the sales volume variance must be $15,000 adverse.Only alternative A meets both of these criteria. D was the most popular choice by candidates, suggesting that most understood criteria 1, but not criteria 2.Questions on standard cost operating statements have been mentioned in previous reports and are a commonly amongst the worst answered questions on the paper.Example 2A company has prepared flexed budgets at two activity levels. The cost per unit of three costs is given below. All three costs behave in a linear manner with respect to activity.Activity level (units)10,000 15,000CostX $3·0 per unit $2·0 per unitY $1·0 per unit $1·0 per unitZ $3·5 per unit $3·0 per unitIs each of the costs variable, semi-variable or fixed?X Y ZA Variable Fixed Semi-variableB Variable Fixed VariableC Fixed Variable Semi-variableVariable FixedD FixedThe correct answer is C.The key to the question is to understand that for variable costs the cost per unit is constant, whilst for fixed costs the total cost is constant. Cost X can quickly be identified as a fixed cost as the total cost between the two output levels is unchanged (10,000 units x $3 = 15,000 units x $2). Cost Y is a variable cost because the cost per unit is constant. Cost D meets neither of these criteria because it contains elements of both fixed and variable cost, and therefore is a semi variable cost. Alternatives A and B were selected by majority of candidates, suggesting some confusion between cost per unit and total cost.Example 3An accountant wishes to use the following spreadsheet to calculate budgeted production units.Which formula should be entered in cell B5?A =B3-C4+B4B =B3-B4C =B3+C4D =B3+C4-B4The correct answer is DTo arrive at this answer candidates had to understand that production units = sales units + closing inventory of finished goods – opening inventory of finished goods, and that the opening inventory for August was the closing inventory for July.Alternative B was the most popular answer presumably on the basis that it totalled the column. Alternatives A and C were selected by only small percentages of candidates.Section BSection B contained 3 questions, one from each of syllabus areas C Budgeting, D Standard Costing and E Performance Measurement. This approach will continue in future papers. The balance of MCQ questions in section A was altered to reflect this change and to preserve the overall balance of the paper. The pilot paper reflects the new weightings. This balance of questions will be used in future papers.Common problems with section B questions included the following∙An apparent lack of knowledge of the net present value (NPV) technique. Many candidates appeared to confuse it with net book value (NBV) and unnecessarily calculated depreciation provisions over the asset’s life. Many candidates were unable to suggest one advantage of using net present value.∙An inability to calculate material price and usage variances and fixed overhead volume variances.∙An inability to explain the causes of variances.∙An imprecise knowledge of commonly used accounting ratios. Return on capital employed should not be calculated by any profit figure divided any asset figure. Its formal definition is operating profit divided by ordinary shareholder’s funds plus non-current liabilities.∙Weak understanding of a businesses’ performance. A significant minority of candidates did not know which ratios measured liquidity and which measured gearing. For the paper exam, many provided weak commentary, such as “the gearing ratio is higher”. This alone does not tell whether this a good or bad, and greater clarity is required for full marks. Again for paper exam only, there were often poor layout of calculations, making it very difficult to understand what candidates were trying to do.Future candidates are advised to:• Study the whole syllabus, because the paper will cover the full syllabus.• Practise as many multiple choice questions as possible.• Read questions very carefully in the examination.• Try to attempt the “easy” examination questions first.• Not to spend too much time on apparently “difficult” questions.• Attempt all questions in the examination (there are no negative marks for incorrect answers).∙For those taking paper exam, present section B answers as tidily as possible∙For those taking CBE exam, read each requirement carefully• Read previous Examiner’s Reports.。
8.Time series:trendseasonal variation:⑴加法模型sum to zero;⑵乘法模型sum to4 cyclical variationrandom variation9.pricipal budget factor关键预算因子：be limited the activities10.budget purpose:communicationcoordinationcompel the planmotivative employeesresource allocation11.Budget committee的功能：①coordinated②administration12.Budget:①function budget②master budget:1.P&L;2.B/S;3. Cash Flow13.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 likehelp 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:partiipate approachimposed budget18.payback投资回收期的缺点：ignore profitabilitythe 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 calculatewidely useminimize 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。
