ACCA PM重要知識點Divisional responsibility accounting 中Investment center？

大家都知道，ACCA 考試的科目多，每科都有比較多的考點內(nèi)容。大綱對每科內(nèi)容的要求是不一樣的，學(xué)員若是想要有好的成績還要掌握ACCA重難點的學(xué)習(xí)。ACCA PM重要知識點Divisional responsibility accounting 中Investment center？

Division has costs and revenue

manager does have the authority

to in new assets or dispose of existing ones：ROI,RI

與收入，成本，Non-current

asset,working capital有關(guān)

Return on investment(ROI)=（Controllable profit÷Capital employed） x100%

1) Controllable profit: before tax.如果考試中沒有，那用相近的值也可.

2) Capital employed=Total Assets-Current Liability=Equity+Non-current liability如果考試中沒有，也可使用Net asset來替代，Non-current assets可以用cost記，net replacement cost或net book value.

3)

①Advantage：

a) Widely used and acceptable.

b)實現(xiàn)comparisons between divisions/companies of different sizes.

②Disadvantage：

a)導(dǎo)致功能歧視性 dysfunctional decision making.

b)隨age of the asset if NBV are used，來提高ROI(譬如折扣方式的改變，CE降低）

c)導(dǎo)致manipulation of figures to improve results(警如擴大生產(chǎn)規(guī)模來降低成本）

d)如果兩個公司 have different accounting policies，那么不能用ROI來比較業(yè)績

e) Focuses on the short-term performance

注意：ROI適用于同一公司的部門：ROCE適用于公司整體情況！

Dysfunctional decision making.舉例：公司有2個項目ROIC

注意：計算時，還要考慮Cost of capital for the company，才能*終決定是否接受項目.

Residual income(RI)=controllable divisional profit-notional interest on capital

.Controllable division profit=Capital employed(same as ROI)

這里的名義利息有時也稱imputedinterest，就是Costofcapitalforthecompany.