ACCA F2 双语讲义

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CourseNotes2016

Exams September 15

–

June 17

ACCA

PaperF2

-

双

语讲义

Management Accounting

管理

会

计

Tutor details

2

Introduction

ACCA F2

No part of this publication may be reproduced, stored in a retrieval system

or transmitted, in any form or by any means, electronic, mechanical,

photocopying, recording or otherwise, without the prior written permission

of First Intuition Publishing Ltd.

Any unauthorised reproduction or distribution in any form is strictly

prohibited as breach of copyright and may be punishable by law.

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First Intuition Publishing Ltd, 2015

ACCAF2

Intro duction

3

Contents

Page

Introduction

Contents

1

Coursestructure

2

Coursematerials

3

Qualificationstructure

4

The exam

5

Question types

6

Examtips

7

How tostudyF2

8

Studyplanner

1: Nature, source and purpose ofmanagementinformation

1

Accountingformanagement

2

Sourcesofdata

3

Costclassification

4

Presentinginformation

2: Costaccountingtechniques

1

Accounting for material, labourandoverheads

2

Absorption andmarginalcosting

3

Costaccountingmethods

4

Alternativecostaccounting

3:Budgeting

1

Nature and purposeofbudgeting

2

Statisticaltechniques

3

Budgetpreparation

4

Flexiblebudgets

5

Capital budgeting and discountedcashflows

6

Budgetary controlandreporting

7

Behavioural aspectsofbudgeting

4:Standardcosting

1

Standardcostingsystems

2

Variance calculationsandanalysis

3

Reconciliation of budgeted andactualprofit

5:Performancemeasurement

1

Performancemeasurementoverview

2

Performance measurement

–

application

3

Cost reductions andvalueenhancement

4

Monitoring performanceandreporting

1

3

5

5

6

6

7

7

8

9

13

13

15

17

26

33

33

53

57

70

75

75

77

90

97

98

110

113

117

117

118

126

129

129

131

141

142

4

Introduction

ACCA F2

Solutions tolectureexamples

Chapter1

Chapter2

Chapter3

Chapter4

Chapter5

Formulaesheets

145

145

146

156

164

167

169

ACCAF2

Intro duction

5

1

Coursestructure

Home Study Introduction

–

How to Study F2

To get off to the best possible start, we recommend you contact your tutor once you have received

your study materials. Your tutor will explain how to tackle your studies and get you started on your

first Study Session.

If you prefer to get started straight away you should read “How to Study F2” below.

Study sessions

This study guide breaks down the syllabus into manageable study sessions, following the syllabus, and

numbered in accordance with the chapters in the Study notes. We tell you which chapters to read, and

then which questions to attempt from the Question Bank.

It is not enough just to read the study notes.

You must practise questions

from the Question Bank as

recommended in each study session. The questions in the Question Bank are the same style as those

in the real exam and will give you exposure to all the possible pitfalls.

It is better to attempt them as you go along, when the subject matter is fresh in your mind. You should

check your answers with the answers and make sure you understand the suggested answer for any

questions you get wrong.

Revision sessions

When you have completed all the study sessions you should spend some time revising the core topics

When you are getting most of these right you are ready to attempt the Mock exam. If at all possible

you should attempt this under real exam conditions, i.e. to the correct time and with no distractions.

You can always come and sit your exam at First Intuition

–

just call your tutor to arrange a convenient

time.

When you have completed the Mock you should check your answers. Make a note of any you get

wrong and look at the model solution where given. If you still have any problems call your tutor or

come and see us for some final advice. If you score at least 60% in the Mock then you should be ready

to take the real exam.

2

Coursematerials

You will receive the following:

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First Intuition studynotes

First Intuition QuestionBank

Passcards*

Online Study Text (in conjunction with KaplanEN-Gage)

*produced by BPP Learning Media

6

Introduction

ACCA F2

3

Qualificationstructure

The ACCA qualification is structured as follows.

Fundamentals Level Knowledge

Module

F1

F2

F3

F4

F5

F6

F7

F8

F9

AB

MA

FA

CL

PM

TX

FR

AA

FM

PA

CR

BA

The Accountant in Business

Management Accounting

Financial Accounting

Corporate Law

Performance Management

Taxation

Financial Reporting

Audit & Assurance

Financial Management

Professional Accountant

Corporate Reporting

Business Analysis

Fundamentals Level Skills Module

Professional Level Essentials Module

P1

P2

P3

Professional Level Options Module

(any two of these papers)

P4

P5

P6

P7

AFM

Advanced Financial Management

APM

Advanced Performance Management

ATX

AAA

Advanced Taxation

Advanced Audit & Assurance

All papers are compulsory unless you gain exemptions from a relevant qualification. The modules must

be attempted in the correct order, though you can sit the papers in any order. A maximum of four

papers can be taken in any one exam sitting. Exams are in June and December each year. The

Knowledge Module subjects are examined by computer-based assessment and can be attempted at

any time.

4

Theexam

F2 is a two-hour computer-based or paper based examination.

The paper is in two sections

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Section A contains

35

objective test questions. Each question is worth 2 marks

(70marksintotal)

Section B contains

3

multi-task questions. Each question is worth 10 marks (30 marks intotal).

Multi task questions are a new question type which is being introduced in 2014. This new

question type is explained more fully below.

All questions are compulsory.

The paper has a pass mark of 50%.

ACCAF2

Intro duction

7

5

Questiontypes

The F2 exam consists of the following types of question:

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Objective test (OT)

–

These are single, short, automatically markedquestions.

Multiple task questions (MTQ)

–

These questions contain a series of tasks which

relatetooneor morescenarios.

The types of question that may be included are as follows:

Multiple Choice

Multiple Response

Multiple Response

Matching

Number Entry

Gapfill

Hot Spot

You are required to choose one answer from a list of options

by clicking on the appropriate radio button

You are required to select more than one response from the

options provided by clicking the appropriate tick boxes

You are required to select a response to a number of related

statements by clicking on the radio button which

corresponds to the appropriate response for each statement

You are required to key in a numerical response to the

question

You are required to enter answers into blank areas

You are required to choose one or more answers by clicking

on the appropriate hotspot area/ areas on an image

OT

MTQ

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Each of the above types of question are included in the companion Question Bank. Examples of each

of the question types and how they are marked can also be found on the ACCA’s website at

/fcaqlmls7xm6/acca-f1-f3-exam-format- and-question-types-

showcase/?utm_campa ign=share&utm_medium=copy.

Specimen exam

The ACCA’s specimen exam reflecting the new exam formats and incorporating all question types, is

included in this Question Bank.

6

Examtips

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Readtherequirem entverycarefully

.Withcalculationquestio nstherearemanyopportunitiesfor

your examiner to confuse you or try and catch you out. It will be very easy to arrive at a result

that is one of the optionsavailable.

Manage your time

. You have an average of 2 minutes and 24 seconds per

lltake longer than others, particularly those that involve calculating a

numerical answer. So if you get stuck on a question, make a note of the question number and

move on. If you have time at the end of the exam you can go back and tackle the

trickyquestions

You may be asked to choose one or more correct statements from a given

chstatement carefully. If you are unsure about one or more of them, move on and

deal with the statements you do agree with. You may find the correct answer by process of

elimination without needing to revisit the statements you are unsure about. In any event you

should certainly be able to narrow down yourchoices.

If you think you will run out of time, stop five minutes before the end and

guessanyremaininganswers

–

remember you have a one in four chance of getting those

questions right which could make the difference between a pass and afail.

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8

Introduction

ACCA F2

7

How to studyF2

Plan your study time

Get your diary out and decide when, where and how often you want to study. If you followed a First

Intuition course you would receive a minimum of five full days tuition, and be expected to do

additional work at home. Studying on your own is harder and will take longer. You should expect to

spend at least 3 hours studying per week. On this basis it should take approximately two months to

learn the study material, then you should allow additional time for revision and final question practice.

Most students should be ready to take the exam 3 months after commencing their studies.

Set a target date for the exam

This is very important with computer-

based exams. If you don’t set a target there is a d

anger that you

will spread your study time over too long a period, will lose momentum or simply not get around to

taking the exam. When you set your target bear in mind how you wish to progress through the

syllabus, as from paper F4 onwards you are tied to the paper-based exam sittings in June and

December. For example, if you wish to progress to the Skills level papers for a December sitting you

should complete your computer-based exams by 31 July.

Make the most out of your study sessions

Try and complete each study session in one go so that you learn each topic in turn. Some sessions are

longer than others, but make sure you take a break between sessions.

Read the ACCA study guide at the start of each session so you know the learning outcomes for that

particular session. Check the tutor tips for advice on how to tackle questions or which areas focus on.

Then read the relevant chapter of the course notes.

It is essential that you try the questions from the Question Bank where indicated.

You will not pass

t

he exam if you don’t attempt the questions

. Check your answers and make sure you understand the

workings for any that you get wrong. Often you will find that you got the wrong answer because you

didn’t read the question properly –

the examiner does like to try and catch you out! If you get stuck

give your tutor a call and ask for advice.

Revision

You should attempt the additional question banks for each of the revision sessions as well as re-

reading the study notes. When you are getting at least half of the questions right you are ready to

attempt the Mock Exam. If you achieve at least 60% in the Mocks then you should be ready to attempt

the real exam.

The real exam

When are ready to attempt the real exam give us a call to arrange your CBE (or contact your nearest

CBE centre). We hold weekly exam sessions but will do our best to be flexible so you can sit the exam

at a time that suits you.

ACCAF2

Intro duction

9

8

Studyplanner

No

Subject

Ch 1.1

Accounting for management

Overview only but some important

terminology

Ch 1.2

Sources of data

Basic section but be careful to

distinguish between the different types

of sampling

Ch 1.3

Cost classification

Important section and pay particular

attention to cost behaviour and the

high low technique

Ch 1.4

Presenting information

At this stage the different types of

graph/chart are the most important

part of the section.

PER relevance

PO12

Time

(excluding

questions)

30mins

Questions

(Question

Complete

Bank)

Ch1 (Q1-Q9)

PO12

30mins

Ch1(Q10-Q17)

PO12

120mins

Ch1(Q18-Q45)

PO12

45mins

Ch1(Q46-Q71)

Ch 2.1

Accounting for materials, labour and

overheads

Materials

–

take care here with the

EOQ model and inventory valuation

techniques.

Labour

–

the labour accounting entries

are quite popular for exams so go

through carefully.

Overheads

–

A very important section

and you must take your time to

understand this. The steps of

absorption costing are a must for

exams.

Ch 2.2

Absorption and marginal costing

Important concepts in here and take

your time with the reconciliation

between absorption costing and

marginal costing profits.

Ch2 (Q1-Q36)

Ch2(Q37-Q52)

120mins

45mins

120mins

Ch2(Q53-Q84)

75mins

Ch2 (Q85-

Q103)

Ch 2.3

Cost accounting methods

The mechanics of process costing isthe

key to this section so try to follow the

examples through one at a time as

they generally buildup.

Ch 2.4

Alternative cost accounting principles

Nothing too much to worry about in

this section. Just read and absorb.

180mins

Ch2 (Q104-

Q164)

30mins

Ch2 (Q165-

Q170)