Đang tải... (xem toàn văn)
Tài liệu ACCA mới nhất từ BPP môn F5, sách có giá trị cho kỳ thi đến tháng 6-2014. File PDF dạng Text cực đẹp.
Performance Management Paper F5 Course Notes ACF5CN07(D) l (i) BPP provides revision courses, question days, mock days and specific material to assist you in this important phase of your studies. F5 Performance Management Study Programme Page Introduction to the paper and the course . (ii) 1 Costing 1.1 2a Activity based costing 2a.1 2b Target costing 2b.1 2c Life cycle costing 2c.1 2d Backflush accounting . 2d.1 2e Throughput accounting 2e.1 End of Day 1 – refer to Course Companion for Home Study Progress test 1 3 Limiting factor analysis 3.1 4 Pricing decisions . 4.1 5 Short term decisions 5.1 6 Risk and uncertainty 6.1 End of Day 2 – refer to Course Companion for Home Study Progress test 2 Course exam 1 7 Objectives of budgetary control . 7.1 8 Budgetary systems 8.1 9a Quantitative analysis in budgeting . 9a.1 9b Learning curves . 9b.1 10 Budgeting and standard costing 10.1 11a Variance analysis 11a.1 End of Day 3 – refer to Course Companion for Home Study Progress test 3 11b Further variance analysis 11b.1 12 Behavioural aspects of standard costing . 12.1 13 Performance management 13.1 14 Divisional performance measures . 14.1 15 Further performance management 15.1 End of Day 4 – refer to Course Companion for Home Study Progress test 4 Course exam 2 16 Answers to lecture examples . 16.1 17 Question and Answer bank . 17.1 18 Appendix A: Pilot Paper questions . 18.1 19 Appendix B: Relevant articles 19.1 20 Appendix C: Mathematical formulae 20.1 Don’t forget to plan your revision phase! • Revision of syllabus • Testing of knowledge • Question practice • Exam technique practice INTRODUCTION (ii) Introduction to Paper F5 Performance Management Overall aim of the syllabus To develop knowledge and skills in the application of management accounting techniques to quantitative and qualitative information for planning, decision-making, performance evaluation, and control. The syllabus The broad syllabus headings are: A Specialist cost and management accounting techniques B Decision making techniques C Budgeting D Standard costing and variance analysis E Performance Measurement and control Main capabilities On successful completion of this paper, candidates should be able to: • Explain, apply, and evaluate cost accounting techniques • Select and appropriately apply decision-making techniques to evaluate business choices and promote efficient and effective use of scarce business resources, appreciating the risks and uncertainty inherent in business and controlling those risks • Apply budgeting techniques and evaluate alternative methods of budgeting, planning and control • Use standard costing systems to measure and control business performance and to identify remedial action • Assess the performance of a business from both a financial and non-financial viewpoint, appreciating the problems of controlling divisionalised businesses and the importance of allowing for external aspects. Links with other papers Advanced Performance Management (P5) Performance Management (F5) Management Accounting (F2) INTRODUCTION (iii) F5 is the middle paper in the management accounting section of the qualification structure. It builds upon F2 which covers techniques and feeds into P5 which requires you to think strategically and consider environmental factors. F5 requires you to be able to apply techniques and think about their impact on the organisation. It seeks to examine candidates’ understanding of how to manage the performance of a business. Assessment methods and format of the exam Examiner: Geoff Cordwell The examination is a three hour paper with 15 minutes' reading time. Format of the Exam 4 compulsory 25-mark questions Questions on each paper will be drawn from as many of the five syllabus areas as possible. It is likely that they will be based on simple, realistic scenarios. The paper will be approximately 50% calculation, 50% discussion, but it is unlikely that a fully written question will be set. Wherever possible students will first be asked to analyse / interpret given numbers and then prepare calculations of their own. INTRODUCTION (iv) Course Aims Achieving ACCA's Study Guide Outcomes Amended to reflect presentation in main body A Specialist cost and management accounting techniques A1 Activity based costing Chapter 2a A2 Target costing Chapter 2b A3 Life cycle costing Chapter 2c A4 Backflush accounting Chapter 2d A5 Throughput accounting Chapter 2e B Decision-making techniques B1 Multi-limiting factors and the use of linear programming and shadow pricing Chapter 3 B2 Pricing decisions Chapter 4 B3 Make-or-buy and other short-term decisions Chapter 5 B4 Dealing with risk and uncertainty in decision-making Chapter 6 C Budgeting C1 Objectives Chapter 7 C2 Budgetary systems Chapters 7 & 8 C3 Types of budget Chapter 8 C4 Quantitative analysis in budgeting Chapters 9a & b C5 Behavioural aspects of budgeting Chapter 7 D Standard costing and variance analysis D1 Budgeting and standard costing Chapter 10 D2 Basic variances and operating statements Chapter 11a D3 Material mix and yield variances Chapter 11b D4 Planning and operational variances Chapter 11b D5 Behavioural aspects of standard costing Chapter 12 E Performance measurement and control E1 The scope of performance measurement Chapter 13 E2 Divisional performance and transfer pricing Chapter 14 E3 Performance analysis in not-for-profit organisations and the public sector Chapter 15 E4 External considerations and behavioural aspects Chapter 15 INTRODUCTION (v) Classroom tuition and Home study Your studies for BPP consist of two elements, classroom tuition and home study. Classroom tuition In class we aim to cover the key areas of the syllabus. To ensure examination success you will to spend private study time reinforcing your classroom course with question practice and reviewing areas of the Course Notes and Study Text. Home study To support you with your private study BPP provides you with a Course Companion which helps you to work at home and aims to ensure your private study time is effectively used. The Course Companion includes a Home Study section which breaks down your home study by days, one to be covered at the end of each day of the course. You will find clear guidance as to the time to spend on various activities and their importance. You are also provided with progress tests and two course exams which should be submitted for marking as they become due. These may include questions on topics covered in class and home study. BPP Learn Online Come and visit the BPP Learn Online free at www.bpp.com/acca/learnonline for exam tips, FAQs and syllabus health check. ACCA Forum We have thriving ACCA bulletin boards at www.bpp.com/accaforum. Register and discuss your studies with tutors and students. Helpline If you have any queries during your private study simply contact your class tutor on the telephone number or e-mail address that they will supply. Alternatively, call +44 (0)20 8740 2222 (or your local training centre if outside the London area) and ask for a tutor for this paper to speak to you or to call you back within 24 hours. Feedback The success of BPP’s courses has been built on what you, the students tell us. At the end of the course for each subject, you will be given a feedback form to complete and return. If you have any issues or ideas before you are given the form to complete, please raise them with the course tutor or relevant head of centre. If this is not possible, please email ACCAcoursesfeedback@bpp.com. INTRODUCTION (vi) Key to Icons Exam alert This is an area that commonly gets examined so you should make sure you are comfortable with this section. Formula to learn This formula will not be provided in the exam so you need to learn it. Question practice from the Course Companion Question practice is key to passing the exam. Please refer to your Course Companion Skills test standard A area which has frequently been tested in skills tests Course Companion reference Further reading is needed in this area to consolidate your knowledge 1.1 Syllabus Guide Detailed Outcomes Having studied this chapter you will be able to: • Gain a broader background knowledge of areas covered in paper F2. These topics will be built upon throughout F5 Exam Context These topics will not be examined in their own right. However, this knowledge could be examined as part of other topics such as ABC, pricing, etc. Qualification Context You will have studied these areas in F2 and will continue to build on them in your management accounting studies. Business Context Absorption costing is a method of apportioning all the production costs to a unit. Historically, this was a very common costing method in the manufacturing industry. Costing 1: COSTING 1.2 Overview Costing Absorption Costing Contribution Marginal Costing Reconciliation of profit Under / Over Absorption OAR [...]... overheads into cost units for a particular production department cost centre A business will choose the basis that best reflects the way in which overheads are being incurred, eg in an automated business much of the overhead cost will be related to maintenance and repair of the machinery It is likely that this will vary to some extent with machine hours worked so we would have used a machine hour absorption... stage of a product is critical to an organisation's cost management process Cost reduction must be considered at this stage of a product’s life cycle, rather than during the production process 1.5 Target costing involves setting a selling price for your product by reference to the market From this your desired profit margin is deducted leaving you with a target cost 2b.3 2b: TARGET COSTING 2 Deriving... income statement in full • Contribution (selling price less variable costs) is a key tool for decision making 1.13 1: COSTING Additional Notes It is important that you can remember the basics covered in this chapter Complete the following examples for the Year 2 data (Year 1 completed earlier in the chapter.) Lecture example 5 Preparation question Selling price per unit Variable costs per unit direct... Lecture example 7 Preparation question Reconcile the profit figures calculated in lecture examples 5 and 6 Solution END OF CHAPTER 1.16 Activity based costing Syllabus Guide Detailed Outcomes Having studied this chapter you will be able to: • Identify appropriate cost drivers under ABC • Calculate costs per driver and per unit using ABC • Compare ABC and traditional methods of overhead absorption based on... Absorption Costing Cost pools Cost drivers Implications of ABC Benefits Criticisms Implications 2a.2 2a: ACTIVITY BASED COSTING 1 Activity based costing (ABC) Introduction 1.1 Reasons for development In this chapter we will be looking at an alternative method of cost accumulation, ABC ABC is a modern alternative to absorption costing which attempts to overcome the problems of costing in a modern manufacturing... machine hour Percentage of direct materials cost Percentage of direct labour cost Percentage of prime cost 4.2 The basis level is always determined by the normal level of activity (IAS2) and the basis chosen should bear some reasonable relationship to the product Example CD Factory continued If the factory produces CDs and DVDs, it cannot absorb $1 per unit across both Labour hours are as follows: DVD... customer orders A 2 2 10 10 20 These are known as cost pools B 1 2 13 10 20 C 1 2 2 2 20 Required (b) Using ABC, show the cost and gross profit per unit for each product during the period and contrast this with the profit calculated using absorption costing (c) What factors should be considered when comparing the results? Solution 2a.6 2a: ACTIVITY BASED COSTING 3 Implications of ABC When ABC should... ABC results in a more meaningful product cost when overheads are high and there is a wide diversity of product range END OF CHAPTER 2a.8 Target costing Syllabus Guide Detailed Outcomes Having studied this chapter you will be able to: • Derive a target cost in manufacturing and service industries • Explain the difficulties of using target costing in service industries • Explain the implications of using... inventory, whereby the value of inventory must include an appropriate amount of fixed production overhead Disadvantages of absorption costing (a) Profits can be manipulated by simply changing production levels This is because overheads will be carried forward in closing inventory (b) It is based on the assumption that overheads are volume related In the next chapter we will see that ABC assumes that many overheads . Performance Management Paper F5 Course Notes ACF5CN07(D) l (i) BPP provides revision courses, question days, mock days and. on topics covered in class and home study. BPP Learn Online Come and visit the BPP Learn Online free at www .bpp. com/acca/learnonline for exam tips, FAQs