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F2 .Labor turnover在 F2 的考纲当中，对大家有这样的一个要求“calculate the level, and analyze the costs and causes of labor turnover”。
这篇文章就是对于 labor turnover rate(离职周转率)的计算就考试当中有可能会出到的考题类型为大家做一个说明和总结。
Labor turnover rate 这是一个非常小的知识点，正如大家所见它的计算公式也非常简单，但是它却成了很多同学比较容易错的一个知识点，归其原因，还是大家对于公式的理解不是特别透彻。
下面我们就先从它的定义出发来分析一下什么叫做 labor turnover.“Labor turnover is a measure of the proportion of people leaving relative to the average number of people employed”. 离职周转率是指离职且需要替换回来的员工数量和公司平均员工总人数的比。
用公式表示也就是首先，我们来看一下分母。
分母的含义是公司平均员工总人数。
一年之中人员变动会非常频繁，对每一个时刻都进行人员总数的统计耗时耗资源，所以人力部门一般会在期初和期末对总人数进行统计。
题目中经常出现的考题形式就是告知期初总人数和期末总人数，我们所需要的分母，就是对这两个总人数进行算术平均数的计算。
用公式表示就等于（期初总人数+期末总人数）/2。
例如题目中会给出这样的条件”A company employed3641 employees at the beginning of 20x1 and at the end of the year employees number were 3735”，那么公司平均员工数就等于（3641+3735)/2。
可以说分母干扰的可能性比较小，同学们在分母的计算上面犯错的可能性也很小，主要会出现问题的地方是对于分子计算的把握。
F2 Both opening and closing WIP in process costingProcess costing( 分步成本法 )里同时存在 opening WIP和 closing WIP的情况时核算Closing completed product( 期末完工产品 )和 closing WIP( 期末在产品 )成本的情况可以说是 F2里计算量最大的一个知识点，本文以一道例题来详解两种核算方法 (Weighted Average Method 和 The FIFO Method)，希望能让大家对这个知识点有更深刻理解。
Weighted Average Method整体思路：在Weighted Average Method(加权平均法)下，我们不区分产品是期初结转下来的还是本期新加工的，把期初产品的成本加上本期的生产成本，来分配给期末的完工产品和期末的在产品，这里的期末完工产品包括期初在产品本期完工和本期投入本期完工两部分。
FIFO method整体思路：在FIFO method(先进先出法)下，我们将本期的生产成本在三部分产品之中进行分配：1.期初在产品剩余需要在本期完工的部分、2.本期投入本期完工的产品、3.期末在产品本期完工的部分。
最后把1和2两部分分配到的本期生产成本加上期初在产品的成本就是本期完工产品的成本，3在产品本期分配到的生产成本就是本期期末在产品的成本。
下面结合一道例题来对比解析这两种方法的不同：Question:Work in process,1December(15,000units,two-fifthscomplete)$10,250(work-in-process value made up of: materials $9,000plus conversion costs $1,250).Units started during December 30,000Units completed during December 40,000Work-in-process,31 December(Half-completed)5,000Material cost added in month $24,750Conversion cost added in month $20,000Materials are wholly added at the start of the process.Conversion takes place evenly throughout the process.Calculate the values of finished production for December and work-in-process at 31 December, using weighted average method.Answers:Step3: Prepare a statement of costs per equivalent unit(Cost/EU)X。
Course Notes 2016 Exams September 15 – June 17 ACCAPaper F2 - 双语讲义Management Accounting管理会计Tutor details2 Intro ductio n ACCA F 2No part of this publication may be reproduced, stored in a retrieval systemor transmitted, in any form or by any means, electronic, mechanical,photocopying, recording or otherwise, without the prior written permissionof First Intuition Publishing Ltd.Any unauthorised reproduction or distribution in any form is strictlyprohibited as breach of copyright and may be punishable by law.© First Intuition Publishing Ltd, 2015ACCA F 2Intro ductio n 3ContentsPageIntroduction 1Contents 31Course structure 52Course materials 53Qualification structure 64The exam 65Question types 76Exam tips 77How to study F2 88Study planner 91: Nature, source and purpose of management information 131Accounting for management 132Sources of data 153Cost classification 174Presenting information 262: Cost accounting techniques 331Accounting for material, labour and overheads 332Absorption and marginal costing 533Cost accounting methods 574Alternative cost accounting 703: Budgeting 751Nature and purpose of budgeting 752Statistical techniques 773Budget preparation 904Flexible budgets 975Capital budgeting and discounted cash flows 986Budgetary control and reporting 1107Behavioural aspects of budgeting 1134: Standard costing 1171Standard costing systems 1172Variance calculations and analysis 1183Reconciliation of budgeted and actual profit 1265: Performance measurement 1291Performance measurement overview 1292Performance measurement – application 1313Cost reductions and value enhancement 1414Monitoring performance and reporting 1424 Intro ductio n ACCA F 2Solutions to lecture examples 145Chapter 1 145 Chapter 2 146 Chapter 3 156 Chapter 4 164 Chapter 5 167Formulae sheets 169ACCA F 2Intro ductio n 5 1Course structureHome Study Introduction – How to Study F2To get off to the best possible start, we recommend you contact your tutor once you have receivedyour study materials. Your tutor will explain how to tackle your studies and get you started on yourfirst Study Session.If you prefer to get started straight away you should read “How to Study F2” below.Study sessionsThis study guide breaks down the syllabus into manageable study sessions, following the syllabus, andnumbered in accordance with the chapters in the Study notes. We tell you which chapters to read, andthen which questions to attempt from the Question Bank.It is not enough just to read the study notes. You must practise questions from the Question Bank asrecommended in each study session. The questions in the Question Bank are the same style as thosein the real exam and will give you exposure to all the possible pitfalls.It is better to attempt them as you go along, when the subject matter is fresh in your mind. You shouldcheck your answers with the answers and make sure you understand the suggested answer for anyquestions you get wrong.Revision sessionsWhen you have completed all the study sessions you should spend some time revising the core topicsWhen you are getting most of these right you are ready to attempt the Mock exam. If at all possibleyou should attempt this under real exam conditions, i.e. to the correct time and with no distractions.You can always come and sit your exam at First Intuition – just call your tutor to arrange a convenienttime.When you have completed the Mock you should check your answers. Make a note of any you getwrong and look at the model solution where given. If you still have any problems call your tutor orcome and see us for some final advice. If you score at least 60% in the Mock then you should be readyto take the real exam.2Course materialsYou will receive the following:First Intuition study notesFirst Intuition Question BankPasscards*Online Study Text (in conjunction with Kaplan EN-Gage)*produced by BPP Learning Media6 Intro ductio n ACCA F 23Qualification structureThe ACCA qualification is structured as follows.Fundamentals Level Knowledge Module F1 AB The Accountant in Business F2 MA Management Accounting F3 FA Financial AccountingFundamentals Level Skills Module F4 CL Corporate LawF5 PM Performance ManagementF6 TX TaxationF7 FR Financial ReportingF8 AA Audit & AssuranceF9 FM Financial Management Professional Level Essentials Module P1 PA Professional AccountantP2 CR Corporate ReportingP3 BA Business AnalysisProfessional Level Options Module (any two of these papers) P4 AFM Advanced Financial ManagementP5 APM Advanced Performance Management P6 ATX Advanced TaxationP7 AAA Advanced Audit & AssuranceAll papers are compulsory unless you gain exemptions from a relevant qualification. The modules must be attempted in the correct order, though you can sit the papers in any order. A maximum of fourpapers can be taken in any one exam sitting. Exams are in June and December each year. TheKnowledge Module subjects are examined by computer-based assessment and can be attempted atany time.4The examF2 is a two-hour computer-based or paper based examination.The paper is in two sectionsSection A contains 35 objective test questions. Each question is worth 2 marks (70 marks intotal)Section B contains 3 multi-task questions. Each question is worth 10 marks (30 marks in t otal).Multi task questions are a new question type which is being introduced in 2014. This newquestion type is explained more fully below.All questions are compulsory.The paper has a pass mark of 50%.ACCA F 2Intro ductio n 75 Question typesThe F2 exam consists of the following types of question: Objective test (OT) –These are single, short, automatically marked questions.Multiple task questions (MTQ) – These questions contain a series of tasks which relate t o one or more scenarios.The types of question that may be included are as follows:OT MTQMultiple Choice You are required to choose one answer from a list of options by clicking on the appropriate radio buttonMultiple Response You are required to select more than one response from the options provided by clicking the appropriate tick boxes Multiple Response Matching You are required to select a response to a number of related statements by clicking on the radio button whichcorresponds to the appropriate response for each statement Number Entry You are required to key in a numerical response to the questionGapfill You are required to enter answers into blank areas Hot SpotYou are required to choose one or more answers by clicking on the appropriate hotspot area/ areas on an imageEach of the above types of question are included in the companion Question Bank. Examples of each of the question types and how they are marked can also be found on the ACCA’s website at Specimen examThe ACCA’s specimen exam reflecting the new exam formats and incorporating all question types, is included in this Question Bank.6 Exam tipsRead the requirement very carefully . With calculation questions there are many opportunities for your examiner to confuse you or try and catch you out. It will be very easy to arrive at a result that is one of the options available.Manage your time . You have an average of 2 minutes and 24 seconds per question. S ome will take longer than others, particularly those that involve calculating a numerical answer. So if you get stuck on a question, make a note of the question number and move on. If you have time at the end of the exam you can go back and tackle the tricky questionsYou may be asked to choose one or more correct statements from a given list. Read each statement carefully. If you are unsure about one or more of them, move on and deal with the statements you do agree with. You may find the correct answer by process of elimination without needing to revisit the statements you are unsure about. In any event you should certainly be able to narrow down your choices.If you think you will run out of time, stop five minutes before the end and guess any remaining answers – remember you have a one in four chance of getting those questions right which could make the difference between a pass and a fail.8 Intro ductio n ACCA F 2 7How to study F2Plan your study timeGet your diary out and decide when, where and how often you want to study. If you followed a FirstIntuition course you would receive a minimum of five full days tuition, and be expected to doadditional work at home. Studying on your own is harder and will take longer. You should expect tospend at least 3 hours studying per week. On this basis it should take approximately two months tolearn the study material, then you should allow additional time for revision and final question practice.Most students should be ready to take the exam 3 months after commencing their studies.Set a target date for the examThis is very important with computer-based exams. If you don’t set a target there is a danger that you will spread your study time over too long a period, will lose momentum or simply not get around totaking the exam. When you set your target bear in mind how you wish to progress through thesyllabus, as from paper F4 onwards you are tied to the paper-based exam sittings in June andDecember. For example, if you wish to progress to the Skills level papers for a December sitting youshould complete your computer-based exams by 31 July.Make the most out of your study sessionsTry and complete each study session in one go so that you learn each topic in turn. Some sessions are longer than others, but make sure you take a break between sessions.Read the ACCA study guide at the start of each session so you know the learning outcomes for thatparticular session. Check the tutor tips for advice on how to tackle questions or which areas focus on.Then read the relevant chapter of the course notes.It is essential that you try the questions from the Question Bank where indicated. You will not passthe exam if you don’t attempt the questions. Check your answers and make sure you understand the workings for any that you get wrong. Often you will find that you got the wrong answer because youdidn’t read the question properly – the examiner does like to try and catch you out! If you get stuckgive your tutor a call and ask for advice.RevisionYou should attempt the additional question banks for each of the revision sessions as well as re-reading the study notes. When you are getting at least half of the questions right you are ready toattempt the Mock Exam. If you achieve at least 60% in the Mocks then you should be ready to attempt the real exam.The real examWhen are ready to attempt the real exam give us a call to arrange your CBE (or contact your nearestCBE centre). We hold weekly exam sessions but will do our best to be flexible so you can sit the examat a time that suits you.ACCA F 2Intro ductio n 9 8Study planner10 Intro ductio n ACCA F 2ACCA F 2Intro ductio n 118.1 Practical Experience Requirements (PER) and Performance ObjectivesACCA requires students to have 36 months’ practical experience in order to become members. Part ofthe practical experience requirements is achieving performance objectives that demonstrate that youcan apply what you’ve learnt when studying to real-life, work activities.ACCA has set out 20 performance objectives in 9 areas. You are required to achieve 13 performanceobjectives – all 9 Essentials performance objectives and any 4 Options performance objectives. ACCAhas provided guidance on which objectives are strongly linked to which exam. The relevant objectivesfor F2, which comprise Essentials and Options objectives, are:Manage self (relevant for all exams)(5)Communicate effectively (relevant for all exams)(6)Use information and communications technology (relevant for all exams)(12)Prepare financial information for management (relevant for F2, F5 and P5)(13)Contribute to budget planning and production (relevant for F2, F5 and P5)(14)Monitor and control budgets (relevant for F2, F5 and P5)No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of First Intuition Publishing Ltd.Any unauthorised reproduction or distribution in any form is strictly prohibited as breach of copyright and may be punishable by law.© First Intuition Publishing1 Accounting for management(a)Describe the purpose and role of cost and management accounting within an organisation.(b)Compare and contrast financial accounting with cost and management a ccounting.The purpose of cost and management accounting is to assist the management in running theirbusiness to achieve its overall plans, make the correct decisions and to control the business.1 管理会计(a)描述组织内部成本会计和管理会计的目的与作用。
高顿财经ACCA 2014年ACCA 考试F2管理会计考前最新知识点本文由高顿ACCA 整理发布，转载请注明出处 Responsibility accounting is a system of accounting that segregates revenue and costs into areas of personal responsibility in order to monitor and assess the performance of each part of an organization.The main responsibility centers are:Cost center – the performance of a cost center manager is judged on the extent to which cost targets have been achieved.Revenue center – Within an organization, this is a centre or activity that earns sales revenue. And whose manager is responsible for the revenue earned but not for the costs incurred.Profit center – A part of the business whose manager is responsible and accountable for both costs and revenue. The performance of a profit center manager is measured in terms of the profit made by the centre.Investment center – A profit center with additional responsibilities for investment and possibly also for financing, and whose performance is measured by its return on capital employed (ROCE)..更多ACCA 资讯请关注高顿ACCA 官网：。
Part 1. Audit 介绍*如图所示，审计是受股东委派，直接向股东报告。
External audits 关注财报For auditor to express their opinion and provide assurance to shareholders that the financial statements are prepared, in all material respects , in accordance with an applicable financial reporting framework. 即审计过程的最终目的.关键词：True and Fair, all Material respects, comply with IFRS● Materiality 重要性定义：Information is material if its omission or misstatement could influence theeconomic decisions of users taken on the basis of the financial statements.（相当于，低于多少金额，属于没有重大误报，报告是可接受的。
） Amount (quantity)一般5% ‐ 10% of profit before tax,属于重大Nature (quality)举例：未决诉讼，涉数金额较大；高管调查● Reasonable assurance 合理保证：任何100%保证的描述都是错误的，审计师给不了。
The highest level ofassurance given, as in the case of statutory audit , is described as 'reasonable assurance'. 非绝对的保证is not absolute assurance because there are 固有局限性inherent limitations of an audit which result in the auditor forming an opinion on evidence that is 有说服力的而不是结论性的persuasive rather than conclusive .原因：审计师不可能做到完全客观not objective 。
ACCA基础阶段F1/F2/F3学习方法介绍
在ACCA 基础阶段的学习中，由于知识点多而杂，建议学生在学习过程中多进行阶段性的总结和积累。
对知识构架进行一定的梳理，这样更有助于理解和记忆。
尤其是对于刚刚开始接触ACCA的学生而言，F1，F2，F3有很多概念性的知识点，需要我们背诵记忆。
下面我们就介绍几种比较有效的梳理知识的方法。
1、表格
IFRS组织（IFRS Organization）
职能
（Function）IFRSF
国际财务报
告准则基金
会
IFRS Foundation Monitor all the
three below
监管监控以下三
个组织
IASB
国际会计准则理事会International Accounting Standards Board
Issue the
standards
发布准则
IFRS AC 顾问委员会IFRS Advisory Council Advise to IASB
为IASB提供建
议。
IFRS IC
解释委员会IFRS Interpretations
Committee
Interpret
on IFRS and
give guidance
解释IFRS并指导
企业（Entities）2. SmartArt。
ACCA考试全科经验分享备考经验+日常笔记，出坑小姐姐经验分享今天请到的是一位英语专业的ACCAer还差P7一科就顺利出坑了小姐姐很认真14科每科都有划重点！这份学习方法干货中的干货肯定对备考6月的你有所帮助丨文：黄梦媛南昌师范学院15级商务英语高中学的理科，高考填志愿时，前五个学校选的都是会计专业，最后一个志愿也就是现在我所在的学校，选的是商务英语专业，因为这个学校会计是专科。
再给大家分享一个2019ACCA考试资料包，还可以分享给小伙伴>>>自提，戳：ACCA资料【新手指南】+内部讲义+解析音频进学生会，进社团才慢慢发现，宁愿一人也不想被同化。
每天都是英语相关的课程，我并不喜欢这种生活，于是开始走文学方向，练字、看书投稿让生活变得充实，但因为电台以及文章的敏感导致我整天更加的郁郁寡欢。
有一次听卢思浩的一个采访电台，才发现，原来人可以同时活成两个自己，白天是那个给自己目标，不断突破的人，夜晚可以是那个忘记世界上俗人的压力，倾倒着自己内心的人。
经历很长一段时间迷茫后，我下定了决心要考一个证书，最后看到了ACCA。
去了许多培训机构做对比，高顿的服务态度和专业度让我决定就是它了。
从16年6月底报名，至今还差一门P7出坑，中间有惨痛的Fail过，下面分科和大家分享备考经验。
刚接触ACCA先学的F1，先赞美一下小予老师，央财毕业，很温柔的一个老师，可能是因为她会很真诚地给我们分享一些她的经历及经验，你能感觉到面前的这个人像一个热心的小姐姐，一份难得的真诚。
因为喜欢F1老师，F1学的很开心。
喜欢周末充实的感觉，喜欢和一群目标明确有想法的人一起学习，一起讨论哪家外卖好吃，一起边吃外卖边聊天，大家坐在沙发上看综艺。
【建议】：（1）建议F1-4学完复习1周就直接去考，太久了容易忘记；（2）最好还是按照顺序考，我是先考的F3，再考的F2，最后是F1，F1内容多且杂很容易忘记，所以可以把网课里、课本上的、BPP练习册的知识点用截屏或拍照等方式，按章节顺序放在平板的相册里了，考前直接看这些图片。
听说 ACCA F2 很简单？其实， F2 内容繁杂，想要学好F2，既需要记忆，也需要理解。
那些觉得简
单的人，都掌握了ACCA F2 的学习方法。
ACCA F2学习方法：记忆和理解
单纯地记忆公式概念，当遇到相似的内容时，比如variance analysis，就很容易混淆；
而单纯地依靠理解，则很容易出现遗忘相关知识、对全书掌握不牢、认识不清的现象。
同时，由于 F2 内容很多，如果无法做到全部掌握，则可以适当放弃一部分内容。
另外有一些知识，
如果了解财务会计，学习起来会更加容易。
ACCA F2学习方法：正确使用学习笔记
对于较为复杂的知识，我们只需要在笔记中梳理其框架，标注其对应点。
而对于某些
我们比较熟悉、比较简单的知识，则可以适当省略。
需要注意的是，笔记中有什么，完全根
据个人情况，不要让笔记成为一种浪费时间的形式。
对于学习中出现的疑问，我们要及时提出、解决，千万不要积攒在一起，甚至直接弃之不理。
当然对于一些性价比不太高的问题，
我们可以适当搁置。
ACCA F2学习方法：正确认识错题的价值
遇到有疑问的题，应当及时标注。
因为无论对错，这都属于我们的知识盲区。
而对于做错的题，
就更需要注意，学会相关知识。
题做好了，并不意味着这套题没有用处了。
对于我们之后的复习，特
别是考前复习，这些错题非常重要，能够让我们迅速回忆知识、掌握盲区。
ACCA F2 的公式也有很多，灵活掌握并运用这些公式，也是ACCA F2 的关键学习方法。
最后，中公财经网小编祝大家都能顺利考过这一科。
ACCA考试科目知识点归纳总结
1.1财务报表准备
目的：该门课程的主要目的是让考生了解关于年终会计报表的编制技术，包括公司、企业及私人企业的相关会计记录及会计报表的解释。
该课程是入门级基础课，在学习之前不需要专业知识。
但对于中国的考生，建议可以在学习前找一本中文版会计学原理来看。
1.1是进一步学习
2.5和
3.6的基础，因此建议大家在该阶段要对知识点进行全面的掌握。
主要内容：
1、基础框架
2、会计概念及原理
3、复式记帐法及会计系统
4、会计处理
5、财务报表
6、会计报表的解释
重点难点介绍：
1、有限责任公司会计报表的编制
2、合伙企业及私人公司财务报表的编制
3、基础的合并报表－拥有一家子公司的母公司的合并
资产负债表
4、基础的会计记帐及会计程序
5、会计概念及惯例
6、会计报表的解释
7、现金流量表8、会计准则－国际会计准则第1、2、7、
8、10、16、18、35、37、38号
学习技巧：
1、了解考试规则：该门考试的时间为3小时，共分为两个部分。
这两个部分的考察内容来自于大纲的各个部分，并都包含计算和论述两种题型。
在ACCA考试中，50分为及格。
A部分25道单选（2分/题）50分
B部分5道必做题（10分/题）50分
2、科学合理的安排学习时间，制定学习计划，并认真执行计划
3、按时参加辅导课程，从讲师处获得最新咨询
4、保持和同学的交流并相互鼓励
5、练习是ACCA学习中非常关键的步骤，请花尽量多的时间在习题上。
干货整理：ACCA F2科目41条笔记分享ACCA F2全称是Management Accounting，这一门课程是管理会计的内容，课程总体难度不大，差异分析的部分考试可能有些难度，另外一些财务比率的计算需要掌握，为今后的学习打好基础。
以下是学员整理的一些F2学习笔记供新学员参考：1.Target cost=target selling price–target profit=market price–desired profit margin.2.cost gap=estimated cost–target cost.3.TQM:①preventing costs②appraisal costs③internal failure costs④external failure cost4.Alternative costing principle:①ABC(activity based costing)②Target costing③Life cycle④TQM8.Time series:①trend②seasonal variation:⑴加法模型sum to zero;⑵乘法模型sum to4③cyclical variation④random variation9.pricipal budget factor关键预算因子：be limited the activities10.budget purpose:①communication②coordination③compel the plan④motivative employees⑤resource 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：①recognize different cost behavior.②improve quality and a comparison of like with like③help managers to forecast cost,revenue and profit.15.Flexible Budget的缺点：1假设太简单。
2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:①participate approach②imposed budget18.payback投资回收期的缺点：①ignore profitability②the time value of money is ignored③没有考虑项目后期带来的经济利益④arbitray武断19.payback投资回收期的优点：①easy to calculate②widely use③minimize 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。
20.(1+real interst rate)*(1+inflation rate)=(1+nominal interest rate)21.NPV=present value of future net cash flow–present value of initial cost22.永续年金=A/i23.每年的汇报是相同的就查看年金现值系数表，不同的就查看年金系数表。
24.EAR=CAR=APR=(1+r/n)n–1有效年利率25.IRR:(based on cash flow analysis)①IRR>cost of capital,NPV>0,worth taking②IRR<cost of capital,NPV<0,not worthwhile.26.ARR=average profit/average investment(ARR是基于profit)Average investment=(initial investment–residual value)/227.type of standard:①basic standard②current standard③ideal standard④attainable standard28.Variance1．Material Variance⑴total material variance=standard cost–actual cost⑵material price variance=(standard price–actual price)*actual quantity⑶material usage variance=(standard usage of actual output-actual usage)*standard price. 2．Direct Labor Variance⑴standard pay–actual pay⑵Labor rate variances=(standard rate–actual rate)*actual hrs of actual output⑶Labor efficiency variances=(standard hrs of actual output–actual hrs)*standard rate 3．Variable production overhead variances⑴Total variable O.H.variance=standard cost–actual cost⑵Variable O.H.expenditure variance=(standard rate–actual rate)*actual hrs⑶Variable O.H.efficiency variance=(standard hrs of actual output–actual hrs)*standard rate4．Fixed O.H.expenditure variance⑴Fixed O.H.Expenditure variance=budget expenditure–actual expenditure⑵Fixed O.H.volume=(actual output-budgeted volume)*standard hrs per unit*standard rate per hr.⑶Capacity variance=(actual hrs worked–budgeted hrs worked)*standard rate per hr⑷Efficiency variance=(standard hrs worked for actual output–actual hrs worked)*standard rate per hr⑴+⑵：Fixed O.H.total variance=fixed O.H.absorbed–actual expenditure 5．Sales variance⑴Sales price variances=(actual price–budget price)*actual sales units⑵Sales volume variances=(actual sales units–budget sales units)*standard profit per unit (absorption)⑶Sales volume variances=(actual sales units–budget sales units)*standard CPU(marginal costing)6．Idle time variancesIdle time variance=(expected idle time–actual idle time)*adjusted hr rate29.The elements of a mission statement including:①Purpose②Strategy③Policies and standards of behavior④Values and culture30.A critical success factor is a performance requirement that is fundamental to competitive success.31.Profitability ratios①Return on capital employed(ROCE)=profit before interest and tax/(shareholders’funds+long-term liabilities)×100%②Return on equity(ROE)=profit after tax/shareholders’funds×100%③Asset turnover=sales/capital employed×100%=sales/(shareholders’funds+long-term liabilities)×100%④Profit margin=profit before interest and tax/sales×100%Profit margin×asset turnover=ROCE32.Debt and gearing ratios①Debt-to-equity ratio=long-term liabilities/total equity×100%②Interest cover=PBIT/Interest×100%33.Liquidity ratios①Current ratio=current assets/current liabilities②Quick ratio(acid test ratio)=current assets minus inventory/current liabilities34.Working capital ratios①Inventory days=average inventory*365/cost of sales②Receivables days=average trade receivables*365/sales③Payables days=average trade payables*365/cost of sales(or purchases)35.Non-financial performance measuresNon-financial performance measures are considered to be leading indicators of financial performance.①Market share②Innovation③Growth④Productivity⑤Quality⑥Social aspects36.The balanced scorecard:①financial perspective②external perspective③customer perspective④learning and innovation perspective37.Benchmarking:①Internal benchmarking②Competitive benchmarking③Functional benchmarking④Strategic benchmarking38.Value analysis is a planned,scientific approach to cost reduction,which reviews the material composition of a product and the product's design so that modifications and improvements can be made which do not reduce the value of the product to the customer or user.39.Four aspects of'value'should be considered:①Cost value②Exchange value③Utility value④Esteem value40.ROI=PBIT/capital employed*100%Widely used and accepted;As a relative measure it enables comparisons to be made with divisions or companies of different sizes.41.RI=PBIT-Imputed interest*capital employed.Possible to use different rates of interest for different types of assets;Cost of finance is being considered.。
