By BPP Learning Media
The organization of Chartered qualified Accountants (ACCA) is the worldwide physique for pro accountants. With over a hundred years of offering world-class accounting and finance skills, the ACCA has considerably raised its foreign profile in recent times and now helps a BSc (Hons) in utilized Accounting and an MBA.BPP studying Media is an ACCA authentic writer. Paper F5, functionality administration, goals to improve wisdom and abilities within the program of administration accounting info. scholars should have an information of administration accounting thoughts and manage to observe their wisdom to a functionality administration challenge. The emphasis is on useful components and alertness to the genuine world.F5 is the center paper within the administration accounting component to the qualification constitution, among F2, which issues simply concepts and P5, which thinks strategically.The key syllabus components in F5 are: * expert rate and administration strategies * Decision-making strategies * Budgeting * usual costing and variances research * functionality dimension and control.This examiner-reviewed learn textual content comprises all you want to understand for F5, that includes sensible functions of administration accounting strategies. wisdom so you might have out of your prior reports similar to uncomplicated variance research is obviously pointed out and in brief reviewed. tougher new subject matters equivalent to studying curves are in actual fact defined with lots of examples and inquiries to support your realizing. key phrases are pointed out all through that will help you to benefit new terminology similar to short-termism and overall caliber management.BPP studying Media is the writer of selection for plenty of ACCA scholars and college prone world wide. subscribe to them and plug right into a international of workmanship in ACCA assessments.
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Extra info for ACCA - F5 Performance Management: Study Text
The fixed overhead expenditure is spread evenly throughout the year. The selling price per unit is $140. Production and sales budgets are as follows. Six months ending Six months ending 31 March 20X3 30 September 20X3 Production 8,500 7,000 Sales 7,000 8,000 12 1: Costing ⏐ Part A Specialist cost and management accounting techniques Required Prepare profit statements for each of the six-monthly periods, using the following methods of costing. (a) (b) Marginal costing Absorption costing Answer (a) (b) Profit statements for the year ending 30 September 20X3 Marginal costing basis Six months ending 31 March 20X3 $'000 $'000 Sales at $140 per unit 980 Opening inventory – Std.
Absorption costing is a traditional approach to dealing with overheads, involving three stages: allocation, apportionment and absorption. • Apportionment has two stages, general overhead apportionment and service department cost apportionment. • After apportionment, overheads are absorbed into products using an appropriate absorption rate based on budgeted costs and budgeted activity levels. • Under-/over-absorbed overhead occurs when overheads incurred do not equal overheads absorbed. • In marginal costing, inventories are valued at variable production cost whereas in absorption costing they are valued at their full production cost.
2a: Activity based costing ⏐ Part A Specialist cost and management accounting techniques Answers to Quick Quiz 1 Too great Too small 2 (a) (b) (c) Costs Activities Activities 3 (a) (b) (c) Number of production runs Number of machine hours Number of orders executed 4 False. Complexity is recognised by the use of multiple cost drivers. 5 False. The use of volume-related cost drivers should be used for costs that do vary with production volume. 6 False 7 False. It is highly suitable. Now try the questions below from the Exam Question Bank Number Level Marks Time Q2 Introductory 18 32 mins Q3 Examination 20 36 mins Part A Specialist cost and management accounting techniques ⏐ 2a: Activity based costing 31 32 2a: Activity based costing ⏐ Part A Specialist cost and management accounting techniques Target costing Topic list Syllabus reference 1 What is target costing?
ACCA - F5 Performance Management: Study Text by BPP Learning Media