1、1. Targetcost=targetsellingpricetargetprofit=marketpricedesiredprofitmargin.2. costgap=estimatedcosttargetcost.3. TQM: preventingcosts appraisalcosts internalfailurecosts externalfailurecost4. Alternativecostingprinciple:ABC(activitybasedcosting)TargetcostingLifecycleTQM5. Laspeyre=6. Paashepriceind
2、ex=7. Fisher=8. Timeseries:trendseasonalvariation: 加法模型 sumtozero; 乘法模型 sumto4cyclicalvariationrandomvariation9. pricipalbudgetfactor 关键预算因子 ：belimitedtheactivities10. budgetpurpose:communicationcoordinationcompeltheplanmotivativeemployeesresourceallocation11. Budgetcommittee 的功能：coordinated adminis
3、tration12. Budget: functionbudget masterbudget:1.P2.B/S;3.CashFlow13. FixedBudget: 不是在于固不固定，而是基于一个业务量的考虑，financailexpression.FlexibleBudget: 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. FlexibleBudget 的优点： recognizedifferentcostbehavior. improvequalityandacomparisonoflikewithlike helpmanagerstoforecastcos
4、t,revenueandprofit.15. FlexibleBudget 的缺点：1 假设太简单。2 需要更多的时间准备预算编制。16.Controllablecostisa“costwhichcanbeinfluencedby”itsbudgetholder. 大部分的变动成本是可控的，non-controllablecost 为inflation.17.BudgetBehavior: participateapproach imposedbudget18.payback 投资回收期的缺点： ignoreprofitability thetimevalueofmoneyisignored3
5、 没有考虑项目后期带来的经济利益4 arbitray武断19.payback 投资回收期的优点： easytocalculate widelyuse minimizetheeffectoftheriskandhelpliqidity 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+realinterstrate)*(1+inflationrate)=(1+nominalinterestrate)21.NPV=presentvalueoffuturenetcashflowpresentvalueofinitialcost22. 永续年金=A/i23.每年的汇
6、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)n1 有效年利率25.IRR:(basedoncashflowanalysis)IRRcostofcapital,NPV0,worthtakingIRRcostofcapital,NPV0,notworthwhile.26.ARR=averageprofit/averageinvestment(ARR是基于profit)Averageinvestment=(initialinvestmentresidualvalue)/227.typeofstandard: basicstandardcurre
7、ntstandardidealstandardattainablestandard28.Variance一MaterialVariancetotalmaterialvariance=standardcostactualcostmaterialpricevariance=(standardpriceactualprice)*actualquantitymaterialusagevariance=(standardusageofactualoutput-actualusage)*standardprice.二DirectLaborVariancestandardpayactualpayLaborr
8、atevariances=(standardrateactualrate)*actualhrsofactualoutputLaborefficiencyvariances=(standardhrsofactualoutputactualhrs)*standardrate三VariableproductionoverheadvariancesTotalvariableO.H.variance=standardcostactualcostVariableO.H.expenditurevariance=(standardrateactualrate)*actualhrsVariableO.H.eff
9、iciencyvariance=(standardhrsofactualoutputactualhrs)*standardrate四FixedO.H.expenditurevarianceFixedO.H. Expenditurevariance=budgetexpenditureactualexpenditureFixedO.H.volume=(actualoutput-budgetedvolume)*standardhrsperunit*standardrateperhr.Capacityvariance=(actualhrsworked budgetedhrsworked)*standa
10、rdrateperhrEfficiencyvariance=(standardhrsworkedforactualoutputactualhrsworked)*standardrateperhr+：FixedO.H.totalvariance=fixedO.H.absorbedactualexpenditure五SalesvarianceSalespricevariances=(actualpricebudgetprice)*actualsalesunitsSales volume variances = (actual sales units budget sales units) * st
11、andard profit per unit(absorption)Salesvolumevariances=(actualsalesunitsbudgetsalesunits)*standardCPU(marginalcosting)六IdletimevariancesIdletimevariance=(expectedidletimeactualidletime)*adjustedhrrate29.Theelementsofa missionstatementincluding:PurposeStrategyPoliciesandstandardsofbehaviorValuesandcu
12、lture30. A critical success factor is a performance requirement that is fundamental to competitivesuccess.31.ProfitabilityratiosReturnoncapitalemployed(ROCE)=profitbeforeinterestandtax/(shareholders funds+long-termliabilities) 100% Returnonequity(ROE)=profitaftertax/shareholders funds 100%Assetturno
13、ver=sales/capitalemployed 100%=sales/(shareholders funds+long-termliabilities) 100%Profitmargin=profitbeforeinterestandtax/sales 100%Profitmarginassetturnover=ROCE32.DebtandgearingratiosDebt-to-equityratio=long-termliabilities/totalequity 100%Interestcover=PBIT/Interest 100%33.LiquidityratiosCurrent
14、ratio=currentassets/currentliabilitiesQuickratio(acidtestratio)=currentassetsminusinventory/currentliabilities34.WorkingcapitalratiosInventorydays=averageinventory*365/costofsalesReceivablesdays=averagetradereceivables*365/salesPayablesdays=averagetradepayables*365/costofsales(orpurchases)35.Non-fin
15、ancialperformancemeasuresNon-financialperformancemeasuresareconsideredtobeleadingindicatorsoffinancialperformance.1 Marketshare Innovation Growth Productivity Quality Socialaspects36.Thebalancedscorecard: financialperspective externalperspective customerperspective learningandinnovationperspective37
16、.Benchmarking: Internalbenchmarking Competitivebenchmarking Functionalbenchmarking Strategicbenchmarking38. Value analysis is a planned, scientific approach to cost reduction, which reviews the materialcompositionofaproductandtheproductsdesignsothatmodificationsandimprovementscanbemadewhichdonotredu
17、cethevalueoftheproducttothecustomeroruser.39.Fouraspectsofvalueshouldbeconsidered: Costvalue Exchangevalue Utilityvalue5 Esteemvalue40.ROI=PBIT/capitalemployed*100%Widely used and accepted; As a relative measure it enables comparisons to be made with divisionsorcompaniesofdifferentsizes.41.RI=PBIT-Imputedinterest*capitalemployed.Possible to use different rates of interest for different types of assets; Cost of finance is beingconsidered. Vanessa 小瑜笔记
