题目内容
（请给出正确答案）
Cost accounting analyzes a business's cost to help managers ______.
A．expend money
B．control expenses
C．pay the debts
D．make budget
如果结果不匹配，请 联系老师 获取答案
更多“Cost accounting analyzes a bus…”相关的问题
One of these techniques involves analysing costs under three distinct categories: material, system, and delivery and disposal.
What is this technique known as？
A.Activity-based costing
B.Life-cycle costing
C.Input-output analysis
D.Flow cost accounting
The following statements have been made about environmental cost accounting:
(1) The majority of environmental costs are already captured within a typical organisation’s accounting system. The difficulty lies in identifying them
(2) Input/output analysis divides material flows within an organisation into three categories: material flows; system flows; and delivery and disposal flows
Which of the above statements is/are true？
A.1 only
B.2 only
C.Neither 1 nor 2
D.Both 1 and 2
Which of the following statements are true when using historical cost accounting compared to current value accounting in this type of market？
(1) Capital employed which is calculated using historical costs is understated compared to current value capital employed
(2) Historical cost profits are overstated in comparison to current value profits
(3) Capital employed which is calculated using historical costs is overstated compared to current value capital employed
(4) Historical cost profits are understated in comparison to current value profits
A.1 and 2
B.1 and 4
C.2 and 3
D.3 and 4
A.Environment-related costs can be attributed to joint cost centres and environment-driven costs cannot be
B.Environment-driven costs can be attributed to joint cost centres and environment-related costs cannot be
C.Both environment-related costs and environment-driven costs can be attributed to joint cost centres
D.Neither environment-related costs nor environment-driven costs can be attributed to joint cost centres
value accounting’ believe that fair value is the most relevant measure for financial reporting whilst others believe that
historical cost provides a more useful measure.
Issues have been raised over the reliability and measurement of fair values, and over the nature of the current level
of disclosure in financial statements in this area.
Required:
(a) Discuss the problems associated with the reliability and measurement of fair values and the nature of any
additional disclosures which may be required if fair value accounting is to be used exclusively in corporate
reporting. (13 marks)
(b) During the inventory count on 31 December, some goods which had cost $80,000 were found to be damaged.
In February 2005 the damaged goods were sold for $85,000 by an agent who received a 10% commission out
of the sale proceeds. (2 marks)
Required:
Advise the directors on the correct treatment of these matters, stating the relevant accounting standard which
justifies your answer in each case.
NOTE: The mark allocation is shown against each of the three matters.
(1) The entity concept requires that a business is treated as being separate from its owners.
(2) The use of historical cost accounting tends to understate assets and profit when prices are rising.
(3) The prudence concept means that the lowest possible values should be applied to income and assets and the
highest possible values to expenses and liabilities.
(4) The money measurement concept means that only assets capable of being reliably measured in monetary terms
can be included in the balance sheet of a business.
A 1 and 2
B 2 and 3
C 3 and 4
D 1 and 4
(a) IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors contains guidance on the use of accounting policies and accounting estimates.
Required:
Explain the basis on which the management of an entity must select its accounting policies and distinguish, with an example, between changes in accounting policies and changes in accounting estimates. (5 marks)
(b) The directors of Tunshill are disappointed by the draft profi t for the year ended 30 September 2010. The company’s assistant accountant has suggested two areas where she believes the reported profi t may be improved:
(i) A major item of plant that cost $20 million to purchase and install on 1 October 2007 is being depreciated on a straight-line basis over a fi ve-year period (assuming no residual value). The plant is wearing well and at the beginning of the current year (1 October 2009) the production manager believed that the plant was likely to last eight years in total (i.e. from the date of its purchase). The assistant accountant has calculated that, based on an eight-year life (and no residual value) the accumulated depreciation of the plant at 30 September 2010 would be $7·5 million ($20 million/8 years x 3). In the fi nancial statements for the year ended 30 September 2009, the accumulated depreciation was $8 million ($20 million/5 years x 2). Therefore, by adopting an eight-year life, Tunshill can avoid a depreciation charge in the current year and instead credit $0·5 million ($8 million – $7·5 million) to the income statement in the current year to improve the reported profi t. (5 marks)
(ii) Most of Tunshill’s competitors value their inventory using the average cost (AVCO) basis, whereas Tunshill uses the fi rst in fi rst out (FIFO) basis. The value of Tunshill’s inventory at 30 September 2010 (on the FIFO basis) is $20 million, however on the AVCO basis it would be valued at $18 million. By adopting the same method (AVCO) as its competitors, the assistant accountant says the company would improve its profi t for the year ended 30 September 2010 by $2 million. Tunshill’s inventory at 30 September 2009 was reported as $15 million, however on the AVCO basis it would have been reported as $13·4 million. (5 marks)
Required:
Comment on the acceptability of the assistant accountant’s suggestions and quantify how they would affect the fi nancial statements if they were implemented under IFRS. Ignore taxation.
Note: the mark allocation is shown against each of the two items above.
(c) On 1 May 2007 Sirus acquired another company, Marne plc. The directors of Marne, who were the only
shareholders, were offered an increased profit share in the enlarged business for a period of two years after the
date of acquisition as an incentive to accept the purchase offer. After this period, normal remuneration levels will
be resumed. Sirus estimated that this would cost them $5 million at 30 April 2008, and a further $6 million at
30 April 2009. These amounts will be paid in cash shortly after the respective year ends. (5 marks)
Required:
Draft a report to the directors of Sirus which discusses the principles and nature of the accounting treatment of
the above elements under International Financial Reporting Standards in the financial statements for the year
ended 30 April 2008.
