2020年ACCA考试财务会计（基础阶段）财经词汇汇总10

正确答案：B
80,000 + 60,000 – 1,000 = 139,000

正确答案：
(ii) Analytical procedures
Tutorial note: The range of valid answer points is very broad for this part.
■ Review the trend of MCM’s profit (gross and net) for the last five years (say). Similarly earnings per share and
gearing.
■ For both the National and International businesses compare:
– gross profit, net profit, and return on assets for the last five years (say);
– actual monthly revenue against budget for the last 18 months (say). Similarly, for major items of expenditure
such as:
– full-time salaries;
– freelance consultancy fees;
– premises costs (e.g. depreciation, lease rentals, maintenance, etc);
– monthly revenue (also costs and profit) by centre.
■ Review projections of future profitability of MCM against net profit percentage at 31 December 2004 for:
– the National business (10·4%);
– the International business (38·1%); and
– overall (19·9%).
■ Review of disposal value of owned premises against book values.
■ Compare actual cash balances with budget on a monthly basis and compare borrowings against loan and overdraft
facilities.
■ Compare the average collection period for International’s trade receivables month on month since 31 December
2004 (when it was nearly seven months, i.e.
$3·7
–––– × 365 days) and compare with the National business.
$6·3
■ Compare financial ratios for each of the national centres against the National business overall (and similarly for the
International Business). For example:
– gross and net profit margins;
– return on centre assets;
– average collection period;
– average payment period;
– liquidity ratio.
■ Compare key performance indicators across the centres for the year to 31 December 2004 and 2005 to date. For
example:
– number of corporate clients;
– number of delegates;
– number of training days;
– average revenue per delegate per day;
– average cost per consultancy day.

正确答案：
(b)Thealgebraicmodelrequiresseveralassumptionstobetrue.First,theremustbeaconsistentrelationshipbetweenprice(P)anddemand(Q),sothatademandequationcanbeestablished,usuallyintheform.P=a–bQ.Here,althoughthereisaclearrelationshipbetweenthetwo,itisnotaperfectlylinearrelationshipandsomorecomplicatedtechniquesarerequiredtocalculatethedemandequation.ItalsocannotbeassumedthatalinearrelationshipwillholdforallvaluesofPandQotherthanthefivegiven.Similarly,theremustbeaclearrelationshipbetweendemandandmarginalcost,usuallysatisfiedbyconstantvariablecostperunitandconstantfixedcosts.Thechangingvariablecostsperunitagaincomplicatetheissue,butitisthechangesinfixedcostswhichmakethealgebraicmethodlessusefulinJewel’scase.Thealgebraicmodelisonlysuitableforcompaniesoperatinginamonopolyanditisnotclearherewhetherthisisthecase,butitseemsunlikely,soany‘optimum’pricemightbecomeirrelevantifJewel’scompetitorschargesignificantlylowerprices.Othermoregeneralfactorsnotconsideredbythealgebraicmodelarepoliticalfactorswhichmightaffectimports,socialfactorswhichmayaffectcustomertastesandeconomicfactorswhichmayaffectexchangeratesorcustomerspendingpower.Thereliabilityoftheestimatesthemselves–forsalesprices,variablecostsandfixedcosts–couldalsobecalledintoquestion.