# 注会综合阶段英语水平提升班——第七单元1 t-admin154 发表于 2017-10-29 16:38:07 | 评论:0  查看:826次 [注会英语]
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Unit 7         Cost management
1. CVP analysis
Key terms:
Marginal costing                                变动成本法（边际成本法）
Cost-volume-profit （CVP）         本量利分析
Contribution margin                         贡献边际，贡献毛益，贡献毛利
Margin of safety                                安全边际
Variable cost                                        变动成本
Fixed cost                                                固定成本
Discretionary Fixed Cost                 酌量性固定成本
Committed Fixed Cost                 约束性固定成本
Key points:
1. CVP analysis is a means of learning how costs and profits behave in response to changes in the level of business activity.
CVP analysis is often called break even analysis, in reference to the point at which total revenue exactly equals total cost. The break-even point may be defined as the level of activity at which operating income is equal to zero.
CPV 分析也称为盈亏平衡分析。 盈亏临界点是企业收入和全部成本相等的经营状态，即企业所处的既不盈利也不亏损的状态。 2. The contribution margin is simply the amount by which revenue exceeds variable costs.

3. The dollar amount by which actual sales volume exceeds the break even sales volume is called the margin of safety.

4. Measurement
Measurement                       method of computation
 [size=10.5000pt]Contribution margin [size=10.5000pt]Sales revenue-total variable costs [size=10.5000pt]Unit contribution margin [size=10.5000pt]Unit sales price- variable costs per unit [size=10.5000pt]Contribution margin ratio Unit sales price-variable costs per unit[size=10.5000pt]Unit sales price [size=10.5000pt]Sales volume ( in units) Fixed costs +target operating income[size=10.5000pt]Unit contribution margin [size=10.5000pt]Sales volume ( in dollars) Fixed costs +target operating income[size=10.5000pt]Unit contribution margin ratio [size=10.5000pt]Margin of safety [size=10.5000pt]Actual sales volume-break even sales volume  Practice question 1:
The budgeted annual output of a factory is 120,000 units. The fixed overheads amount to \$40,000 and the variable costs are 50c per unit. The sales price is \$1 per unit.
Required:
To calculate Margin of safety Margin of safety=Budgeted sales volume- breakeven point sales volume.= 120,000 units－80,000 units =40,000 units
5. Sensitivity analysis
Sensitivity analysis takes each uncertain factor in turn, and calculates the change that would be necessary in that factor before the original decision is reversed. Typically, it involves posing “what-if” questions. E.g. If initial investment increases by 18%, the project profit will be zero. If price falls by more than 2%, the project will make a loss.
By using this technique it is possible to establish which estimates (variables) are more critical than others in affecting a decision.
The usefulness of sensitivity analysis ：
w Sensitivity analysis can be used to assess the robustness of a strategy
(project), will it continue to deliver its major benefit if some key variables change.
estimate of an outcome.
w It provides a range of predicted outcomes depending on change in key
variable.
w It considers risk and uncertainty by offering alternative scenario –
increase realism and complexity.
Practice question 2:
A Company has estimated the following sales and profits for a new product which it may launch on to the market.
 £ £ Sales (2,000 units) 4,000 Variable costs: material 2000 labor 1000 (3000) 1,000 Fixed cost (800) Profit 200
Required:
Analyze the sensitivity of the project.
Solution:
If Fixed cost  ↑25%, Project will make a loss If material cost  ↑10%, Project will make a loss If labor cost   ↑20%, Project will make a loss
If Price↓  5%, Project will make a loss
If volume   ↓20%, Project will make a loss

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