ACCA F 知识点总结
acca f知识要点汇总(精简版)
☆技巧 AC = MC + (Closing Inventory – Opening Inventory) x OAR *The absorption costing requires subjective judgments.预算估计主观判断太多 *There is often more than one way to allocate the overheads.制造成本分摊可操纵
Arbitrary apportionment 任意分配
★考点‐计算题(10.Dec.Q4)
Problems when implementing ABC：
‐ 耗时
‐ 需要上层支持，因为缺乏信息
‐ Project team 运作，成员来自各个部门
‐ IT 部门支持
‐ 了解成本结构
‐ Cost‐benefit analysis★成本效益分析
Maturity
Sales volume: Stable high volume
主要：
Initially profits keep increase as initial set‐up and fixed costs are recovered
材料人工等 Marketing and distribution economies are achieved
适合 decision making as it highlights contribution Fixed cost are treated as period costs Profit depends on sales and efficiency
Disadvantage Danger that products sold on marginal contribution – fail to cover fixed costs Doesn’t comply with IAS 2,需要调整报表 Necessitates analysis of mixed costs between FC and VC
ACCA F 知识要点汇总 精简版
IAS8 IAS10
Accounting Policies, Changes in Accounting Estimates and Errors
Events after reporting period
IAS11 Construction Contract
* 流动资产一般自带减值
Take the higher of * Value in use (futher benefit through use 并折现)
* Fair Value less cost to sell
* Negative G/W,直接credit to P&L，从而credit to
COS从Loss倒推）
20)*75%=15.所以revenue=100*75%=75,
cost=80*75%=60, 分录：Cr CC 60，Dr GADFC 75, Dr COS 60,Cr
Revenue 75. 继上：Progress billing=70→Dr T/R 70, Cr GADFC
5种典型例子：
举例：100送20优
1) Commision ‐ 佣金 2) Deferred Income ‐ 3年学费1次支付 3) Sale & Return base ‐ 只有卖了不能退，才确认为销售（举
1) Dr Bank 5(or T/R),Cr T/P 4,Cr Revenue 1 2) Dr Bank 6, Cr deferred income 4,Cr Revenue 2 3) Dr Revenue 24, Cr T/R 24; Dr Inventory 18, Cr
举例：Total price=100, Cost todate=60, Further
accaf9知识点总结
accaf9知识点总结1. 效果评价1.1 金融报表分析1.2 经济资本分析1.3 经营资本分析1.4 现金流量和利润1.5 利润和现金流量的关系1.6 销售和应收账款...2. 出口和报价价格2.1 出口的动因2.2 出口贸易中的价格因素2.3 价格战略2.4 付款条件2.5 远期定价和风险2.6 报价策略...3. 资本成本3.1 资本的含义3.2 资本成本的含义3.3 股权资本成本3.4 债务资本成本3.5 资本结构权益3.6 资本结构债务...4. 风险管理4.1 金融风险的类型4.2 风险定价模型4.3 风险管理的决策4.4 风险管理的实施4.5 风险管理的监督4.6 风险管理的评估...5. 投资决策5.1 投资的目标5.2 投资的基本原则5.3 投资项目评估5.4 投资项目选择5.5 投资项目实施5.6 投资项目监督...6. 资本结构6.1 资本结构的含义6.2 资本结构的类型6.3 资本结构的决策6.4 资本结构的评估6.5 资本结构的实施6.6 资本结构的监督...7. 分公司和合并7.1 分公司的类型7.2 分公司的特点7.3 分公司的决策7.4 分公司的执行7.5 分公司的监督7.6 合并的类型...8. 业绩评估8.1 业绩评估的目标8.2 业绩评估的原则8.3 业绩评估的过程8.4 业绩评估的结果8.5 业绩评估的实施8.6 业绩评估的监督...9. 资本预算9.1 资本预算的含义9.2 资本预算的分类9.3 资本预算的原则9.4 资本预算的方法9.5 资本预算的评估9.6 资本预算的实施...10. 财务分析10.1 财务分析的含义10.2 财务分析的基本原则10.3 财务分析的过程10.4 财务分析的工具10.5 财务分析的目标10.6 财务分析的实施...以上是ACCA F9 考试的知识点总结。
希望对你有所帮助。
ACCAF知识点总结
ACCA考试F7知识点辅导I. The accounting problemBefore IAS37 provisions were recognized on the basis of prudence, little guidance was given on when a provision should be recognized and how it should be measured. This gave rise to inconsistencies, and also allowed profits to be manipulated.Some problems are noted below：(a) Provisions could be recognized on the basis of management intentions, rather than on any obligation to be entity;(b) Several items could be combined into one large provision. There were known as ‘big bath’ provisions;(c) A provision could be created for one purpose and then used for another;(d) Poor disclosure made it difficult to assess the effect of provisions on reported profits. In particular, provisions could be created when profits were high and released when profits were low in order to smooth profits.(1) DefinitionsIAS 37 views a provision as a liability.A provision is a liability of uncertainty timing or amount;A liability is an obligation of an enterprise to transfer economic benefits as a result of past transactions or events.Provision must be based on obligations, not management intentions.(2) Under IAS37, a provision should be recognized：a. When an enterprise has a present obligation;b. It is probable that a transfer of economic benefits will be required to settle it;c. A reliable estimate can be made of its amount; if a reasonable estimate cannot be made, then the nature of the provision and the uncertainties relating to the amount and timing of the cash flows should be disclosed.A provision is made for something which will probably happen. It should be recognized when it is probable that a transfer of economic events will take place and when its amount can be estimated reliably.(3) Contingent liabilitiesDefinitionThe Standard defines a contingent liability as：(a) A possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the enterprise; or(b) A present obligation that arises from past events but is not recognized because：(i) It is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or(ii) The amount of the obligation cannot be measured with sufficient reliability.As a rule of thumb, probable means more than 50% likely. If an obligation is probable, it is not a contingent liability –instead, a provision is needed.Treatment of contingent liabilitiesContingent liabilities should not be recognized in financial statements but they should be disclosed. The required disclosures are：(a) A brief description of the nature of the contingent liability;(b) An estimate of its financial effect;(c) An indication of the uncertainties that exist;(d) The possibility of any reimbursement;(4) Contingent assetsDefinitionA possible asset that arises from the past events whose existence will be confirmed by the occurrence of one or more uncertain future events not wholly within the enterprise’s control.A contingent asset must not be recognized. Only when the realization of the related economic benefits is virtually certain should recognition take place. At that point, the asset is no longer a contingent asset.Disclosure： contingent assetsContingent assets must only be disclosed in the notes if they are probable. In that case a brief description of the contingentasset should be provided along with an estimate of its likely financial effect.II. Specific application1. Future operating lossesIn the past, provisions were recognized for future operating losses on the grounds of prudence. However these should not be provided for the following reasons.①They relate to future events;②There is no obligation to a third party. The loss-making business could be closed and the losses avoided.2. Onerous contractsAn onerous contract is a contract in which the unavoidable costs of meeting the contract exceed the economic benefits expected to be received under it.A common example of an onerous contract is a lease on a surplus factory. The leaseholder is legally obliged to carry on paying the rent on the factory, but they will not get any benefit from using the factory.The least net cost of an onerous contract should be recognized as a provision. The least net cost is the lower of the cost of fulfilling the contract or of terminating it and suffering any penalty payments.Some assets may have been bought specifically for the onerous contract. These should be reviewed for impairment before any separate provision is made for the contract itself.1DemoDroopers has recently bought all of the trade, assets and liabilities of Dolittle, an unincorporatd business. As part of the take-over all of the combined business’s activities have been relocated at Droopers main site. As a result Dolittle’s pre mises are now empty and surplus to requirements.However, just before the acquisition Dolittle had signed a three year lease for their premises at $6000 per calendar month. At 31 December 2003 this lease ad 32 months left to run and the landlord had refused to terminate the lease. A sub-tenant had taken over part of the premises for the rest of the lease at a rent of $2500 per calendar month.Required(a) Should Droopers recognized a provision for an onerous contract in respect of this lease(b) Show how this information will be presented in the financial statements for 2003 and 2004. Ignore the time value of money.Solution：Droopers has a legal obligation to pay a further $192000 to the landlord, as a result of a lease signed before the year end. Therefore an onerous contract exists and must be provided for.There is also an amount recoverable form the sub-tenant of $80000(32×2500). This will be shown separately in the balance sheet as an asset.The $192000 payable and the $80000 recoverable can be netted off in the income statement.income statements 2003 2004$ $provision for onerous lease contract(net)112000 Dr.net rental payable on lease (72-30) -42000 Dr release of provision 42000 Cr112000 Dr.balance sheetsreceivalbesamounts recoverable from sub-tenants80000 Dr.50000 Drliabilitiesamounts payable on onerous contracts192000 Cr120000 Cr3. RestructuringA restructuring is a programme that is planned and controlled by management and has a material effect on：①The scope of a business undertaken by the reporting entity in terms of the products or services it provides; or②The manner in which a business undertaken by the reporting entity is conducted;Restructuring includes terminating a line of business, closure of business locations, changes in management structure, andrefocusing a business’s operations.Restructuring provisions have always been quite common, and have often been misused. IAS37 restricts the recognition of restructuring provisions to situations where an entity has a constructive obligation to restructure.A constructive obligation will only arise if：①There is a detailed formal plan for restructuring. This must identify the businesses, locations and employees affected; and②Those affected have a valid expectation that the restructuring will be carried out. This can be by starting to implement the plan or by announcing it to those affected.The constructive obligation must exist at the year-end.(Any obligation arising after the year end may require disclosure under IAS10)A board decision alone will not create a constructive obligation unless：①The plan is already being implemented. For example, assets are being sold, redundancy negotiations have begun; or②The plan has been announced to those affected by it. The plan must have a strict timeframe without unreasonable delays; or③The Board itself contains representatives of employees or other groups affected by the decision.(This is common in mainland Europe.)An announcement to sell an operation will not create a constructive obligation. An obligation will only arise when a purchaser is found and there is a binding sale agreement.A restructuring provision should only include the direct costsof restructuring. These must be both：(a) Necessarily entailed by the restructuring; and(b) Not associated with the ongoing activities of the entity;The following costs must not be provided for because they relate to future events：(a) Retaining or relocating staff;(b) Marketing;(c) Investment in new systems and distribution networks;(d) Future operating losses (unless arising from an onerous contract)(e) Profits on disposal of assets.cca f7真题对于acca f7(de)考试(de)重要性我相信各位acca考生都心知肚明了,首先我们先看一下acca f7科目(de)考试内容ACCA F7科目介绍：F7财务报告是F3财务会计(de)后续课程或说是升级课程.F7大纲以概念框架开始,概念框架包括有用信息(de)质量特征还有一些在F3中已经学习过(de)基础会计知识.接下来,大纲会更详绅地介绍管理框架和会计准则(de)制定过程,大纲(de)主要部分是介绍根据公认会计准则(GAAP)和相关会计准则下,独立公司(de)和集团公司(de)财务信息报告.最后,大纲介绍了财务报告中信息(de)分析和理解.acca f7考试题型：一、选择题：想要在选择题上拿分,就要对F7书上(de)各类知识点达到熟悉(de)程度.对于ACCA新增(de)选择题,是没有重点可以依靠(de),会涉及考纲所有(de)角落,因此学懂学全知识点才是硬道理,万万不能投机取巧.ps：先练后面(de)大题再练选择题会简单很多.二、报表题：一定一定一定要把表(de)框架（模板）记住,并且是在练了大量题(de)基础上达到熟练(de)程度.我比较喜欢(de)做报表题(de)顺序是先根据information写working再列报表框架,这样使得报表干净整洁,不会被框架限定住也不会遗漏一些item.三、ratio analysis：一般都是15分大题,其中有5分(de)ratio(de)计算题,至少10分写analysis.在写分析(de)时候可以先把分析(de)三大部分—profitability、liquidity、gearing(de)框架列出来,在时间宽松(de)情况下可以一个一个按顺序写完,但如果时间紧,就先把每个部分(de)基本分析,如各个ratio是多少,是上升还是下降写出来,再有时间就可以深入分析,这样(de)话easy mark是可以完全拿到(de) 最后很重要(de)是在考前一个星期模拟考,找到适合自己(de)做题时间同时规定好每道题(de)做题时间,精确到每个小题是用时几分钟,最后至少留10～15分钟(de)机动时间.ACCA F7考试重点：I. The accounting problemBefore IAS37 provisions were recognized on the basis of prudence, little guidance was given on when a provision should be recognized and how it should be measured. This gave rise to inconsistencies, and also allowed profits to be manipulated.Some problems are noted below：(a) Provisions could be recognized on the basis of management intentions, rather than on any obligation to be entity;(b) Several items could be combined into one large provision. There were known as ‘big bath’ provisions;(c) A provision could be created for one purpose and then used for another;(d) Poor disclosure made it difficult to assess the effect of provisions on reported profits. In particular, provisions could be created when profits were high and released when profits were low in order to smooth profits.acca f7真题(de)重要性：对于真题,我们除了要掌握单独(de)知识点,还要把他们串联在一起,并且能识别出题目考察(de)是哪些知识点(de)组合,而且它考(de)不仅仅是知识点,还有我们(de)思维能力和对商业环境(de)看法等等,所以我觉得对于像我这种准备时间不是很充分(复习基本在最后一个半月内完成)(de)话,重点是分析考官提供(de)答案,从长篇答案中总结他们(de)答题思路和大纲,然后再同自己(de)想法对比找到差距,看到自己思考(de)不缜密(de)地方加以修改.我(de)这个办法屡试不爽,基本练习册每道题目我都会分析出提纲要点,这样在时间不够时,可以省去大篇幅写作时间而直接发现自己(de)丢分点,有利于形成总结思考能力,也可以在练习(de)过程中与考官(de)想法越来越贴近,揣摩出他(de)思维方式,若能以考官(de)思维来答题,相信定会万无一失.Exam:Part A: 15 MCQ 2 mark4 ：20 - 5：00Part B: 3 case 5 MCQ 2 mark5：00 - 5：55Part C:single financial statements and consolidated financial statements 20 marks3：00 - 3：50Cash flow and ratio analysis 20 marks3：50 - 4：20一分对应1.8 分钟F7Chapter 1 IASB CONCEPTUAL FRAMEWORKÐICS1.IASB conceptual framework2.two underlying assumption:accrual basis,going concern★3.Qualitative characteristics:relevance,faithfulreprentaion(complete,neutral and free from error)Enhancing qualitativecharacteristics:comparability,verifiability,timeliness,understandability. 4.资产(de)确认与计量：①确认：elements:assets,liability,equity,income,expenses②计量：measurement of financial statements:historical cost(历史成本),current cost(重置成本),net realizable value(可变现净值),present value(现值).存货可变现净值=存货估计售价—至完工估计将发生(de)成本—估计销售费用—相关税金现值（Present Value）,也称折现值、贴现值、资本化价值（Capitalized Value）,会计计量中(de)现值,是指对未来现金流量以恰当(de)折现率折现后(de)价值,是考虑货币时间价值因素等(de)一种计量属性5.whistle blowing6.acca fundamental principles onethics:integrity(honest),objectivity(not allow bias), professional competence and due care,confidentiality,professional behavior.7.CSR:environment report and sustainability.了解即可Chapter 2 financial reporting framework1.presentation of financial statement:Going concern,accrual,consistency,materiality and aggregation(实质和聚集) ,offsetting(抵消), comparative.2.SOFP,SOCI(P&L,OCI),SOCIE,SOCF,accounting notes（OCI,OCE,NCI）3.会计政策变更与会计估计变更会计政策变更: changes in accounting policies:①法规要求；②使financial statement更加relevant 例:折旧——追溯法retrospective,追溯到能处理(de)最早年限,opening balance调整累计影响会计估计变更：changes in accounting estimates:例：或有事项预计负债坏账,存货毁损,公允价值变动,折旧年限,未来适用prospectively,仅仅对未来(de)事项产生影响▲折旧：去年不计提折旧今年计提折旧——会计政策(de)变更,其他（折旧方法,折旧使用年限,折旧金额）——会计估计(de)变更两者区别：measurement basis计量基础；method of presentation列表方式,recognition确认方式满足三个任意一个条件(de)变更可判断为会计政策变更3. 差错更正correction of prior period errors（包括错报、漏报、计算错误、会计政策使用错误、对事实情况(de)曲解、误解、欺诈）追溯法retrospectiveChapter 3 non-current asset一、1.PPE(property,plant and equipment):①定义(tangible,over one year,owner occupied)；②计量：达到预定使用状态前发生(de)一切成本.(purchase price less trade discount or rebate,not cash discount)注意记得加上present value of future clean-up costs 不包括试运行阶段产生(de)成本,直接费用化Dr fin. Cost 85×6%Cr provision 85×6%①Unwinding是discounting(de)相反过程②凡是以PV计价(de)会计金额未来都要考虑unwinding cost2.capital expenditure and revenue expenditure3.depreciation：土地不折旧不摊销,折旧计算无论商品是否闲置★4.the cost model and the revaluation model①重估增值会计分录录：Dr PPE 20 Dr Dep. Expense 12 Dr Revaluation reserve Cr OCI 20 Cr PPE 12 Cr RE 2②重估减值会计分录：（不计入OCI,计入损益表,出于谨慎性prudence(de)原则）Dr P&L impairment lossCr PPE③重估先增值再减值：Dr PPE Dr RRCr OCI Dr P&L impairment lossCr PPE④重估先减值再增值：(看做没有减值,持续折旧Dr P&L impairment loss Dr PPE Cr PPECr imp loss Cr OCI3二、5.investment properties投资性房地产：①确认：（自用部分小,提供服务不重大,集团内部房产处理[单体investment property,集团PPE）；②计量：cost model or a fair value model(注意与PPE区别) ★6.Fair value model公允价值计量顺序：同时同地,同时不同地,以前发生(de),折现不允许计提折旧,公允价值变动（不管向上向下）全部计入损益表,无法可靠计量时使用成本法7.changing model：①PPE→investment property：当做revaluation处理②investment property→PPE：公允价值当做初始入账价值三、8.Intangible assets无形资产（IAS38 包括所有无形资产,除掉商誉）①确认：control,future economic benefits,identifiableR&D:Ⅰ.research costs:全部计入损益表Ⅱ.development costs:满足条件资本化：技术可行、完成意图、足够物力以完成、能用/卖、未来收益、可靠计量支出▲Brands,mastheads,publishing titles,customer lists,similar items 不可看做资产,在单体报表上也无法体现,但是当涉及到合并报表时会对商誉有影响.②计量：cost model and revaluation model③amortisation with a useful life,with a indefinite useful life(不能确定使用年限)对使用年限不确定(de)无形资产和商誉无论有无减值迹象,需每年做减值测试impairmentExam：PART:A conceptual and regulatory framework(考理论,section A (de)选择题1-2道 2-4 分）考点： IFRS framework (de)作用及内容1.1 framework为制定准则给相关board提供指引,准则没规定(de)处理遵循IFRS(de)框架理念即可,若framework与具体(de)准则（IFRS or IAS）冲突了,以IFRS为准.1.2 framework 定义了财务报告(de)用途以及如何辨认财务信息(de)定性特征,定义了财务报告(de)三要素(de)确认及衡量(de)一些concepts 或assumption.考点2：两大会计监管体系(de)区别Rule-based system: provide more detailed regulationsPrinciple-based system: give rise fewer accounting standards and requires the exercise of more judgment.Part B: IFRS/IASs(一）IAS 16,12,17,33; IFRS15,19IAS 16 property, plant&equipment(section A or B 6-10 marks and section C 4-6 marks)1.initial measurementDr: PPECr: cash/payablePurchase priceCosts to bring asset to position/location for initial useRegular overhaulRemoving&dismantling(和IAS 37 结合着考）Borrowing cost (IAS23)2.subsequent measurementIAS16 规定允许PPE 可以选择cost model 或者 revaluation model,一旦选择了,将不可追溯调整在revaluation model下衡量PPE,其升值,减值(de)会计处理如下考试口诀：PPE升值进OCI,减值进P/L先减值后升值,先用previous loss,再进OCI先升值后减值,先用previous OCI,再进p/L常考点：deferred tax effect of revalued asset:JE: Dr OCICr deferred taxLiability3.DepreciationStraight line or reducing balance method.一旦更改折方法,不进行追溯调整一旦重估后(de)资产,其折旧计算公式：revalued amount/remaining useful life.题目会要求对excess depreciation从revaluation surplus转移到retained earning,JE：Dr revaluation surplusCr RE--只是代表所有者权益(de)变动,不影响档期损益4.Disposal由单一科目disposal account汇集资产(de)销售行为：JE: Dr cash/bankCr PPECr disposal gain/lossIAS12 Income tax(section C(de)大题3.5分,也可能出现在A 或B 2-4 分）INTERPRETATION OF CONSOLIDATED FINANCIAL STATEMENTSIf a subsidiary has been acquired in the year, the following impacts should be considered:The current year’s financial statements will contain an entity which was not included in the previous period, so income, expenses, assets and liabilities are all likely to rise following the consolidation.If the subsidiary has been acquired during the year, it is unlikely to have contributed a full year’s results in the statement of profit or loss. This could affect ratios such as return on capital employed or working capital ratios at the year end, as the full assets and liabilities are included in the statement of financial position, but only the post-acquisition income and expenses are included in the statement of profit or loss.The new subsidiary is likely to have different margins to the rest of the group which will impact on the interpretation.The new subsidiary is likely to have different customers, suppliers and inventory, so the working capital cycle is likely to be different.Acquisition-related costs may have been included in the current period which will not be repeated in future periods.A new subsidiary may result in shared assets and synergiesoccurring within the group, for example, departments and properties may be merged.If a subsidiary has been disposed of during the year, the following impacts should be considered:Any prior year statement of profit or loss will involve a full year’s results from the subsidiary, while the current year will not.Any prior year statement on financial position will contain the assets and liabilities relating to the subsidiary, whereas the current year will not.The statement of profit or loss figures may contain the profit or loss on disposal of the subsidiary, and the subsidiary’s results up to the date of the disposal.The statement of profit or loss may also contain some one-off costs relating to the disposal of the subsidiary, such as professional costs or redundancies.The group may lose benefits from the subsidiary, such as supplies to the group, or skills held by the senior management of the subsidiary.Revenue:Step one in the five-step model requires the identification of the contract with the customer. Contracts may be in different forms (written, verbal or implied), but must be enforceable, have commercial substance and be approved by the parties to the contract. The model applies once the payment terms for the goods or servicesare identified and it is probable that the entity will collect the consideration. Each party’s rights in relation to the goods or services have to be capable of identification. If a contract with a customer does not meet these criteria, the entity can continually reassess the contract to determine whether it subsequently meets the criteria.Two or more contracts that are entered into around the same time with the same customer may be combined and accounted for as a single contract, if they meet the specified criteria. The standard provides detailed requirements for contract modifications. A modification may be accounted for as a separate contract or as a modification of the original contract, depending upon the circumstances of the case.Step two requires the identification of the separate performance obligations in the contract. This is often referred to as‘unbundling’, and is done at the beginning of a contract. The key factor in identifying a separate performance obligation is the distinctiveness of the good or service, or a bundle of goods or services. A good or service is distinct if the customer can benefit from the good or service on its own or together with other readily available resources and it is separately identifiable from other elements of the contract.IFRS 15 requires that a series of distinct goods or services that are substantially the same with the same pattern of transfer, to be regarded as a single performance obligation. A good or service which has been delivered may not be distinct if it cannot be used without another good or service that has not yet been delivered. Similarly, goods or services that are not distinct should be combined with other goods or services until the entity identifies a bundle of goods or services that is distinct. IFRS 15 provides indicators rather than criteria to determine when a good or service is distinct within the context of the contract. This allows management to apply judgment to determine the separate performance obligations that best reflect the economic substance of a transaction.Step three requires the entity to determine the transaction price, which is the amount of consideration that an entity expects to be entitled to in exchange for the promised goods or services. This amount excludes amounts collected on behalf of a third party –for example, government taxes. An entity must determine the amount of consideration to which it expects to be entitled in order to recognise revenue.Additionally, an entity should estimate the transaction price, taking into account non-cash consideration, consideration payableto the customer and the time value of money if a significant financing component is present. The latter is not required if the time period between the transfer of goods or services and payment is less than one year. In some cases, it will be clear that a significant financing component exists due to the terms of the arrangement.In other cases, it could be difficult to determine whether a significant financing component exists. This is likely to be the case where there are long-term arrangements with multiple performance obligations such that goods or services are delivered and cash payments received throughout the arrangement. For example, if an advance payment is required for business purposes to obtain a longer-term contract, then the entity may conclude that a significant financing obligation does not exist.If an entity anticipates that it may ultimately accept an amount lower than that initially promised in the contract due to, for example, past experience of discounts given, then revenue would be estimated at the lower amount with the collectability of that lower amount being assessed. Subsequently, if revenue already recognised is not collectable, impairment losses should be taken to profit or loss.Step four requires the allocation of the transaction price to the separate performance obligations. The allocation is based on the relative standalone selling prices of the goods or services promised and is made at the inception of the contract. It is not adjusted to reflect subsequent changes in the standalone selling prices of those goods or services.The best evidence of standalone selling price is the observable price of a good or service when the entity sells that good or service separately. If that is not available, an estimate is made by using an approach that maximises the use of observable inputs – for example, expected cost plus an appropriate margin or the assessment of market prices for similar goods or services adjusted for entity-specific costs and margins or in limited circumstances a residual approach. The residual approach is different from the residual method that is used currently by some entities, such as software companies.When a contract contains more than one distinct performance obligation, an entity should allocate the transaction price to each distinct performance obligation on the basis of the standalone selling price.This will be a major practical issue as it may require a separate calculation and allocation exercise to be performed for each contract. For example, a mobile telephone contract typically bundles together the handset and network connection and IFRS 15 will require their separation.Step five requires revenue to be recognised as each performance obligation is satisfied. This differs from IAS 18 where, for example, revenue in respect of goods is recognised when the significant risks and rewards of ownership of the goods are transferred to the customer. An entity satisfies a performance obligation by transferring control of a promised good or service to the customer, which could occur over time or at a point in time. The definition of control includes the ability to prevent others from directing the use of and obtaining the benefits from the asset. A performance obligation is satisfied at a point in time unless it meets one of the following criteria, in which case, it is deemed to be satisfied over time: The customer simultaneously receives and consumes the benefits provided by the entity’s performance as the entity performs.The entity’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced.The entity’s performance does not create an asset with an alternative use to the entity and the entity has an enforceable right to payment for performance completed to date.Revenue is recognised in line with the pattern of transfer. Whether an entity recognises revenue over the period during which it manufactures a product or on delivery to the customer will depend on the specific terms of the contract.If an entity does not satisfy its performance obligation over time, it satisfies it at a point in time and revenue will be recognised when control is passed at that point in time. Factors that may indicate the passing of control include the present right to payment for the asset or the customer has legal title to the asset or the entity has transferred physical possession of the asset.As a consequence of the above, the timing of revenue recognition may change for some point-in-time transactions when the new standard is adopted.In addition to the five-step model, IFRS 15 sets out how to account for the incremental costs of obtaining a contract and the costs directly related to fulfilling a contract and provides guidance to assist entities in applying the model to licences, warranties,rights of return, principal-versus-agent considerations, options for additional goods or services and breakage.IFRS 15 is a significant change from IAS 18 and even though it provides more detailed application guidance, judgment will be required in applying it because the use of estimates is more prevalent.For exam purposes, you should focus on understanding the principles of the five-step model so that you can apply them to practical questions.This article is relevant to Papers F7 and P2Complex lease terms mean that it is often difficult to determine how they should be classified. This article examines IAS 17 and sheds some light on the matterLeases are classified currently under IAS 17, Leases, as finance or operating leases at inception, depending on whether substantially all the risks and rewards of ownership transfer to the lessee. Under a finance lease, the lessee has substantially all of the risks and reward of ownership. Situations that would normally lead to a lease being classified as a finance lease include the following:the lease transfers ownership of the asset to the lessee by the end of the lease termthe lease term is for the major part of the economic life of the asset, even if title is not transferredat the inception of the lease, the present value of the minimum lease payments amounts to at least substantially all of the fair value of the leased assetthe leased assets are of a specialised nature such that only the lessee can use them without major modifications being madeif the lessee is entitled to cancel the lease, the lessor's losses associated with the cancellation are borne by the lesseegains or losses from fluctuations in the fair value of the residual fall to the lesseethe lessee has the ability to continue to lease for a secondary period at a rent that is substantially lower than market rentAll other leases are operating leases.The lease classification is made at the inception of the lease but a lessee and lessor may agree to change the provisions of the lease. However, changes in estimates for example, changes in the residual value of a leased property, or changes in circumstances such as。
ACCA F4知识要点汇总(精简版)
b) T法 官 庭 ： Trusts and mortgages, Revenue matters ，Bankruptcy (outside London ‐ County Court subject) ,Disputed
wills and administration of estates of deceased persons, Partnership and company matters 信托和抵押、收入、破产（London 外去郡法院）、遗 嘱纠纷、死者遗产管理、合伙和公司事宜
5. Breach of contract and remedies （7 分） 6. The law of torts and professional negligence
Part C Employment law（10 分） 7. Contract of employment（4 分）
8. Dismissal and redundancy（6 分）
Court of appeal 上诉法院
Supreme Court 最高法院
European Court of Justice (ECJ) 欧洲法院
a) 高院 3 个庭的上诉案件 b) 郡法院上诉 c) Employment Appeal Tribunal 上诉仲裁庭 上诉的程序：rehearing 重新审理 使用材料：transcript of the case 案件副本和 judge’s notes 法官记录 注意：不重新开庭，Witnesses not re‐examined & new evidence not permitted，只是案卷重审 a) 上诉法院的上诉 b) 非常偶然：高院的上诉 c) 使用材料：transcript of the case 案件副本和 judge’s notes 法官记录 注意：不重新开庭，Witnesses not re‐examined & new evidence not permitted，只是案卷重审 a) Interpreting European Treaty law 解释欧洲贸易法 b) 接受欧盟国家和机构间的案件 c) 欧盟个人利益受影响，ECJ 也受理
ACCAF知识点总结
ACCAF知识点总结ACCA考试F7知识点辅导I. The accounting problem?Before IAS37 provisions were recognized on the basis of prudence，little guidance was given on when a provision should be recognized and how it should be measured. This gave rise to inconsistencies，and also allowed profits to be manipulated.?Some problems are noted below：?(a) Provisions could be recognized on the basis of management intentions，rather than on any obligation to be entity;?(b) Several items could be combined into one large provision. There were known as ‘big bath’ provisions;?(c) A provision could be created for one purpose and then used for another;?(d) Poor disclosure made it difficult to assess the effect of provisions on reported profits. In particular，provisions could be created when profits were high and released when profits were low in order to smooth profits.?(1) Definitions?IAS 37 views a provision as a liability.?A provision is a liability of uncertainty timing or amount;?A liability is an obligation of an enterprise to transfer economic benefits as a result of past transactions or events.?Provision must be based on obligations，not management intentions.?(2) Under IAS37， a provision should be recognized：?a. When an enterprise has a present obligation;?b. It is probable that a transfer of economic benefits will berequired to settle it;?c. A reliable estimate can be made of its amount; if a reasonable estimate cannot be made，then the nature of the provision and the uncertainties relating to the amount and timing of the cash flows should be disclosed.?A provision is made for something which will probably happen. It should be recognized when it is probable that a transfer of economic events will take place and when its amount can be estimated reliably.?(3) Contingent liabilities?Definition?The Standard defines a contingent liability as：?(a) A possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the enterprise; or?(b) A present obligation that arises from past events but is not recognized because：?(i) It is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or?(ii) The amount of the obligation cannot be measured with sufficient reliability.?As a rule of thumb，probable means more than 50% likely. If an obligation is probable，it is not a contingent liability – instead，a provision is needed.?Treatment of contingent liabilities?Contingent liabilities should not be recognized in financial statements but they should be disclosed. The required disclosures are：?(a) A brief description of the nature of the contingent liability;?(b) An estimate of its financial effect;?(c) An indication of the uncertainties that exist;?(d) The possibility of any reimbursement;?(4) Contingent assets?Definition?A possible asset that arises from the past events whose existence will be confirmed by the occurrence of one or more uncertain future events not wholly within the enterprise’s control.?A contingent asset must not be recognized. Only when the realization of the related economic benefits is virtually certain should recognition take place. At that point，the asset is no longer a contingent asset.?Disclosure：contingent assets?Contingent assets must only be disclosed in the notes if they are probable. In that case a brief description of the contingent asset should be provided along with an estimate of its likely financial effect.?II. Specific application?1. Future operating losses?In the past，provisions were recognized for future operating losses on the grounds of prudence. However these should not be provided for the following reasons.?①They relate to future events;?②There is no obligation to a third party. The loss-making business could be closed and the losses avoided.?2. Onerous contracts?An onerous contract is a contract in which the unavoidable costs of meeting the contract exceed the economic benefitsexpected to be received under it.?A common example of an onerous contract is a lease on a surplus factory. The leaseholder is legally obliged to carry on paying the rent on the factory，but they will not get any benefit from using the factory.?The least net cost of an onerous contract should be recognized as a provision. The least net cost is the lower of the cost of fulfilling the contract or of terminating it and suffering any penalty payments.?Some assets may have been bought specifically for the onerous contract. These should be reviewed for impairment before any separate provision is made for the contract itself.?1Demo?Droopers has recently bought all of the trade，assets and liabilities of Dolittle，an unincorporatd business. As part of the take-over all of the combined business’s activities have been relocated at Droopers main site. As a result Dolittle’s premises are now empty and surplus to requirements.?However，just before the acquisition Dolittle had signed a three year lease for their premises at $6000 per calendar month. At 31 December 2003 this lease ad 32 months left to run and the landlord had refused to terminate the lease. A sub-tenant had taken over part of the premises for the rest of the lease at a rent of $2500 per calendar month.?Required?(a) Should Droopers recognized a provision for an onerous contract in respect of this lease?(b) Show how this information will be presented in the financial statements for 2003 and 2004. Ignore the time value of money.?Solution：?Droopers has a legal obligation to pay a further $192000 to the landlord，as a result of a lease signed before the year end. Therefore an onerous contract exists and must be provided for.?There is also an amount recoverable form the sub-tenant of $80000(32×2500). This will be shown separately in the balance sheet as an asset.?The $192000 payable and the $80000 recoverable can be netted off in the income statement.?income statements20032004?$$?provision for onerous lease contract?(net)112000 Dr.?net rental payable on lease (72-30)-42000 Dr?release of provision42000 Cr?112000 Dr.?balance sheets?receivalbes?amounts recoverable from sub-tenants80000 Dr.50000 Dr?liabilities?amounts payable on onerous contracts192000 Cr120000 Cr?3. Restructuring?A restructuring is a programme that is planned and controlled by management and has a material effect on：?①The scope of a business undertaken by the reporting entity in terms of the products or services it provides; or?②The manner in which a business undertaken by the reporting entity is conducted;?Restructuring includes terminating a line of business，closure of business locations，changes in management structure，and refocusing a business’s operations.?Restructuring provisions have always been quite common，and have often been misused. IAS37 restricts the recognition of restructuring provisions to situations where an entity has a constructive obligation to restructure.?A constructive obligation will only arise if：?①There is a detailed formal plan for restructuring. This must identify the businesses，locations and employees affected; and?②Those affected have a valid expectation that the restructuring will be carried out. This can be by starting to implement the plan or by announcing it to those affected.?The constructive obligation must exist at the year-end.(Any obligation arising after the year end may require disclosure under IAS10)?A board decision alone will not create a constructive obligation unless：?①The plan is already being implemented. For example，assets are being sold，redundancy negotiations have begun; or?②The plan has been announced to those affected by it. The plan must have a strict timeframe without unreasonable delays; or?③The Board itself contains representatives of employees or other groups affected by the decision.(This is common in mainland Europe.)?An announcement to sell an operation will not create a constructive obligation. An obligation will only arise when a purchaser is found and there is a binding sale agreement.A restructuring provision should only include the direct costs of restructuring. These must be both：?(a) Necessarily entailed by the restructuring; and?(b) Not associated with the ongoing activities of the entity;?The following costs must not be provided for because they relate to future events：?(a) Retaining or relocating staff;?(b) Marketing;?(c) Investment in new systems and distribution networks;?(d) Future operating losses (unless arising from an onerous contract)?(e) Profits on disposal of assets.?cca f7真题对于acca f7的考试的重要性我相信各位acca考生都心知肚明了，首先我们先看一下acca f7科目的考试内容ACCA F7科目介绍：F7《财务报告》是F3《财务会计》的后续课程或说是升级课程。
ACCAF知识要点汇总精简
ACCA-F知识要点汇总(精简版)————————————————————————————————作者：————————————————————————————————日期：1.抽样的概念●单纯随机抽样（simple random sampling）将调查总体全部观察单位编号,再用抽签法或随机数字表随机抽取部分观察单位组成样本.优点：操作简单,均数、率及相应的标准误计算简单.缺点：总体较大时,难以一一编号.●系统抽样（systematic sampling）又称机械抽样、等距抽样,即先将总体的观察单位按某一顺序号分成n个部分,再从第一部分随机抽取第k号观察单位,依次用相等间距,从每一部分各抽取一个观察单位组成样本.优点：易于理解、简便易行.缺点：总体有周期或增减趋势时,易产生偏性.●分层抽样（stratified sampling）先按对观察指标影响较大的某种特征,将总体分为若干个类别,再从每一层内随机抽取一定数量的观察单位,合起来组成样本.有按比例分配和最优分配两种方案.优点：样本代表性好,抽样误差减少.以上四种基本抽样方法都属单阶段抽样,实际应用中常根据实际情况将整个抽样过程分为若干阶段来进行,称为多阶段抽样.各种抽样方法的抽样误差一般是：整群抽样≥单纯随机抽样≥系统抽样≥分层抽样.●多级抽样（Multistage sampling）也叫多阶段抽样或阶段抽样，以二级抽样为例，二级抽样就是先将总分组，然后在第一级和第二中分别随机地抽取部分一级单位和部分二级单位。
例如：以全国性调查为例，当抽样单元为各级行政单位时，按社会发展水平分层后（或按经济发展水平，或按地理位置分层），从每层中先抽几个地区，再从抽中的地区抽市、县、村，最后再抽至户或个人。
优点：具体整体抽样的简单易行的优点，同时，在样本量相同的情况下又整群抽样的精度高。
缺点：计算复杂。
●整群抽样(cluster sampling)是先将调查总体分为群，然后从中抽取群，对被抽中群的全部单元进行调查。
ACCA F1 知识点总结
anization: Social Arrangement, Collective Goals, Control, Performance, Boundary2.Synergy:3.Profit – Non-profitPrivate – Public4.Limited Company:Separate legal personality from its owners/shareholders;Ownership and control are legally separate;Types: private limited companies—public limited companies5.NGOCo-operatives – Associations6.Stakeholder: individuals/groups, InterestInternal: Managers & EmployeesPrimaryConnected: Shareholders, Bankers, Suppliers, CustomersSecondary External: Government, Interest/Pressure Groups, Professional bodies7.Mendelow Matrix AnalysisPEST: Political-legal, Economic, Social-cultural, Technological9.SWOTInternal appraisal: Strengths & WeaknessExternal appraisal: Opportunities & Threats10.Value Chain (Porter)∙Value activitiesPrimary activities: Inbound logistics; Operations; Outbound logistics, Marketing & Sales;ServiceSupport activities: Firm infrastructure; HR; Procurement; Technology DevelopmentLinkagepetitive advantage- Porter’s five forces model∙The threat of new entrants (& barriers to entry to keep them out)∙The threat from substitute products∙The bargaining power of customers∙The bargaining power of suppliers∙The rivalry amongst current competitors in the industry12. Business Cycle:∙Recession∙Depression∙Recovery∙Boom13.Cause of UnemploymentReal wage unemployment: trade union, minimum wage rateFrictional: difficulty in matching quickly; temporarySeasonal: certain industries, e.g.: building, tourism and farmingTechnological: a form of structural one; new tech, automation Cyclical or demand-deficient:14.Macroeconomic policy objectives:∙Achieve economic growth∙Control price inflation∙Achieve full employment∙Achieve a balance between exports and imports15.Fiscal Policy∙Taxation∙Public borrowing∙Public spending16.5Ms : inputs for org.’s micro-environment∙Materials∙Money∙Men∙Machines∙Management17.Substitutes & Complements18.PED: Price elasticity of demand% change in quantity demanded=% change in priceChange in quantity demandedAverage quantityArc price elasticity of demand =Change in priceAverage priceChange in quantity demandedOriginal quantityPoint price elasticity of demand =Change in priceOriginal price19.Income elasticity of demand% change in quantity demanded=% change in income20.Cross elasticity of demand% change in quantity demanded of good A=% change in the price of good BSubstitutes: Positive – fall in price of A, reduce demand of B Complements: Negative – fall in price of A, raise demand of B21.Normal goods – Inferior goods22.Shift of the demand curve1)Shift to the right∙Rise in household income∙Substitute price rise∙Complement price fall∙Change in tastes towards this product∙Expected price rise∙Population increase2)Movement along a demand curve∙Contraction∙Expansion23.Short run supply curve – Long run supply curve ****24.Factors influencing the supply quantity∙Cost of making the good∙Prices of other goods∙Expectations of price changes∙Changes in technology25.Marginal Utility , Consumer Surplus, Producer Surplus26.Maximum prices, Minimum prices, Minimum wages27. Informal Organization28.Mintzberg : five components of all organizationStrategic Apex, Middle Line, Operating Core, Support Staff, Technostructure 29.∙Functional departmentation∙Geographic departmentation∙Product/Brand departmentation∙Customer departmentation∙Divisionlisation∙Hybrid structures∙Simple structure / entrepreneurial structure∙The new organization29.The Shamrock Organization∙Self employed∙Contingent∙Professional∙Consumers30.Span of ControlScalar ChainTall organizationFlat organizationDelayering: management levels31.Levels of strategyCorporateBusinessOperational/functional32.The Anthony hierarchy∙Strategic management∙Tactical management∙Operational management33.Centralisation & Decentralisation34.R&D∙Pure research; Applied research ; development∙Two categories: product research—new productProcess research—process, productivity, planning, quality ∙Should be closely co-oridnated with markting35.Purchasing Mix∙Quality∙Quantity∙Price∙Delivery36.Marketing Mix: 4Ps∙Product∙Price∙Place∙PromotionService marketing: 4Ps+people, process, physical evidence37.HRM objectives∙Effective human components∙Develop and motivate∙Social and legal responsiblities38. Elements of culture1)Observable behavior: behavior, artefacts, attitudes2)Underlying values and beliefs3)Hidden assumptions39.Harrison’ s four types of culture (Handy gave names of Greek deities)∙Power Culture—Zeus∙Role Culture—Apollo (formal structure, bureaucracy)∙Task Culture—Athena (project)∙Existential/Person culture—Dionysus40.National Culture—The Hofstede Model∙Power distance: High PD; Low PD∙Uncertainty Avoidance: High UA, Low UA∙Individualism: High, Low∙Masculinity: High, Low41.Corporate GovernanceDefinition: System by which org. is directed and controlled by senior officersPrinciples: Integrity; Accountability; Independence; Good management42.Stewardship TheoryAgency Theory (management service their own self-interest)Stakeholder Theory (development of stewardship theory)ernance Principles∙Minimize risk∙Ensure adherence/satisfaction of the strategic objectives∙Fulfill responsibilities to all stakeholders/ Minimize potential conflicts of interest∙Establish clear accountability∙Maintain independence (NED, internal/external auidtors)∙Provide accurate and timely reporting of trustworthy/independent financial and operational data∙Encourage more proactive involvement44.Good Governance: risk management; internal control; accountability in ethical/effective wayPoor Governance:Domination by a single individualLack of involvement of boardLack of adequate control functionLack of supervisionLack of independent scrutinyLack of contact with shareholdersEmphasis on short-term profitabilityMisleading accounts and information45.Strategies for Corporate Social ResponsibilityProactive: take full responsibilitiesDefence: avoid additional obligationsAccommodation: will act probably when encouragement from special interest groups orwill result in government intervention46. Levels of RegulationLaw-Corporate governance-Social responsibility-Ethics47.First Printed explanation of double-entry bookkeeping : 1494 Luca Pacioli48.Qualities of good accounting informationRelevance; Comprehensibility; Completeness; Objectivity; Timeliness; Comparability49.Structure of accounting functionsFinancial controller/accountants: 关于报表的Non-current asset registerReceivables ledgerDebt collectionPayables ledgerPayrollGeneral Ledger, quarterly accounts etc./ Financial accountsStatutory accountsVAT returns TaxationManagement/Cost accountingInventory.materials/labour/expense/overheads/varianceBudget/project appraisalInternal Audit--Separate from finance dept.Report to Audit committee50.Unqualified/Clean reportQualified report51.Regulation systemCompany Law requires companies to prepare accounts and regulates their form and content.Accounting concepts are applied by individuals using their subjective judgementAccounting standards help to eliminate subjectivityEU issues directives on accounting matters which we must applyInternational Financial Reporting Standards (IFRS) aim to harmonize accounting round the worldGAAP is a collection of rules from various sources, governing accounting52.External reports: Statement of financial position & income/comprehensive statement & Cashflow statementInternal reports: Budgets; Cost Schedules; Variance report53.The main business financial systems∙Payroll System∙Purchase system- Payables ledger system∙Sales system- Receivables ledger system∙Cash54.Manual and computerized accounting system55.Main purpose of internal control systemFacilitate its effective and efficient operation to respond to business, operational, financial, compliance and other risks. Safeguard assets, identify & manage liabilities.Ensure quality of internal/external reporting.Ensure compliance with applicable laws and regulations.56.Control environment1)Definition: influenced by management’s attitude, org. structure and values & ablilities ofemployees.2)Elements✧Clear strategies✧Culture, code of conduct, HR policies, performance reward system✧Senior management demonstration✧Clear definition of authority, responsibility and accountability✧Communication✧Knowledge, skills and tools57.Control procedures1)Classification:Administration: channels of communication and reporting responsibilitiesAccounting: recording transactionsPrevent: errorsDetect: errorsCorrect: minimize or negate the effect of errorsDiscretionary: human discretionNon-discretionary: automatically by system and cannot be overriddenVoluntary:Mandated: required by law and imposed by external authoritiesManual: one-to-one relationshipAutomated: programmed proceduresGeneral:Application:Financial2)Types of financial control procedures: SPAMSOAP∙Segregation of duties∙Physical∙Authorization and approval∙Management∙Supervision∙Organization∙Arithmetical and accounting∙Personnel58.Aims of Internal Checks (checks day-to-day)---Division of work59.Characteristics of a good internal control systemA clearly defined org. structureAdequate internal checksAcknowledgementPhysical securityClearly defined system for authorizing transactionPost-viewAuthorization, custody and re-ordering proceduresPersonnelInternal audit60.Internal Audit: part of the internal control systemObjectives:Features: Independence & Appraisal5 Types: Operational auditSystem audit (Compliance test & Substantive test)Transaction auditSocial auditManagement investigations61.Physical ThreatsFire: most serious hazardWater:WeatherLightingTerrorist activityAccidental damage62.Controls into information system∙Security Control∙Integrity ControlInput control;Processing control;Output control;Back-up control(Regular back-up, Archive plans, Disaster recovery)Passwords and logical access systemsAdministrative controlsAudit TrailSystem integrity with a PC & LAN & WAN∙Contingency controls: Disaster recovery plan63.Fraud:✧Removal of funds or assets✧Misrepresentation of the financial position of a business64.Removal of funds or assets✓Theft of cash✓Theft of inventory✓Payroll fraud✓Teeming and lading (one of the best known methods of fraud)✓Fictitious customers✓Collusion with customers✓Bogus supply of goods and services✓Paying for goods not received✓Meeting budgets / target performance measures✓Misuse of pension funds or other assets✓Disposal of assets to employeesOver-valuation of inventoryIrrecoverable debt policy may not be enforcedFictitious salesManipulation of year and eventsUnderstating expensesManipulation of depreciation figures66.Prerequisites for Fraud1)Dishonesty2)Motivation: Calculation of potential rewards and potential sanctions3)Opportunity67.Assessing the risk of Fraud1)External factorsTechnological developmentsIncreased competitionNew legislation or regulationEconomic or political changesChanging customer needs2)Internal factorsChanged operating environmentRapid growthNew personnelNew technologyNew or upgraded management information systemsNew productsNew overseas operationsCorporate restructuring3)Business risksProfit levels/margins deviating significantly from the industry norm Market opinionComplex structure4)Personnel risksSecretive behaviorExpensive lifestyleLong hours or untaken holidaysAutocratic management styleLack of segregation of dutiesLow staff morale68.Potential for computer fraudComputer hackersLack of training within the management teamIdentifying the risks (lack of resource to keep updated)Need for ease of access and flexible systems69.Impact of removal of funds or assetsImmediate: less cash or assets; returns on shareholders fallLong term: company performance1)If results are overstated✓Distribute too much of profits to shareholders✓Retained profits lower than believed✓Incorrect decisions will be made✓Invertors/banks✓Suppliers extend credit without knowing the truth 2)If results are understated✓Returns to investors reduced✓Share price might fall✓Access to loan finance may be restricted✓Negative publicity✓Legal consequences71. Reasons for fraudCertain industryBusiness: personnel; organization; strategyChanges in circumstanceCertain areas, like cash sales72.General prevention policiesEmphasising ethicsPersonnel controlTraining and raising awareness73.Prevention in specific business areasSegregation of dutiesAppropriate documentationLimitation controlsCertain actions prohibitedInternal audit concentration74.Detection and preventionInternal controlsPhysical controlsSegregation of dutiesAuthorization policiesCustomer signaturesUsing words rather than numbersDocumentationSequential numberingDatesStandard proceduresHolidaysRecruitment policiesComputer securityManger and staff responsibilitiesFraud officerAvailability of informationWhistleblowing75. Money Laundering: Three categories of criminal offences✓Laundering✓Failure to report✓Tipping off76.Authority, accountability, responsibility and delegation77.Authority: the right to do sth.(Legitimate power)Power: The ability to do sth.78.Types of Power✓Physical power✓Resource power✓Coercive power(fear of punishment)✓Reward power✓Position / Legitimate power✓Expert power✓Referent power✓Negative power79. Manager’s role in organizing work✓Work planning✓Assessing where resources are most usefully allocated✓Project management80.Henri Fayol : Five functions of management✓Planning✓Organsing✓Commanding✓Coordinating✓Controlling81.F W Taylor: Scientific ManagementPrinciples: Development of a true science of workScientific selection and progressive developmentApplication of techniques to plan, measure and control work for max. productivity Cooperation between management and workersPractice: Work study techniquesPlanning and doing were separatedJobs were micro-designedPaid incentives on basis of acceptance of new methods and output norms82.Elton Mayo: Human relations ---Human relations school of management theory✧Worker attitudes and group relationships83.Neo-human relations school (Maslow and Herzberg)84.Peter Drucker: The management process85. Mintzberg: the Manager’s roleInterpersonal: Figurehead/ Ceremonial; Leader; Liaison------Based on formal authorityInformational: Monitor; Spokesperson; Disseminator-------Based on access to upward/ downward channels and external contacts Decisional: Entrepreneur; Disturbance handler; Resource allocator; Negotiator86.Leadership : The activity of influencing people to strive willingly for group objectivesManagement: coping with complexityLeadership: coping with change87.Key leadership skillsEntrepreneurship; Interpersonal skills; Decision-making and problem-solving skillsTime-management and personal organization; Self-development88.Theories of Leadership :✧Trait theories✧Style theories✧Contingency theories89.Leadership Style (Style theory)1)The Ashridge Model: Tell (Autocratic)Sell (Persuasive)Consults ---------- subordinates preferredJoins(Democratic)Consistency is more important2)Blake and Mouton’s Managerial GridTwo dimension: Concern for production; Concern for peopleManagerial Grid: 1.1 Impoverished1.9 country club9.1 task management5.5 middle of the road/ dampened pendulum9.9 team90. Contingency theory 权变理论1) F E FiedlerPDM/Structured style: very favorable or very unfavorablePCM/Supportive style: moderately favorable2) John Adair : action-centered leadershipTasks needsGroup needsIndividual needs3)Bennis: distinction between management and leadershipManager: doing things rightLeader: doing the right thing4)Heifetz: dispersed leadership91recruitment and selection processOverall aim:---to obtain the quantity and quality of employees required to fulfill the objectives of org. Responsibility:---Current trend: devolving the process increasingly to line management92. Recruitment1) Definition: systematic process of identifying and defining skill needs and attracting suitablyskilled candidates.2) Systematic approach:(a)HR planning(b)Job Analysis: Job description & Person specification(c)Identification of Vacancies(d)Advertising(e)Selection(f)Notifying applicants3)Competence: embody the ability to transfer skills and knowledge to new situations.Types: Behavioral/personalWork-based/occupationalGenericManagers’ competence: IntellectualInterpersonalAdaptabilityResults4)Job design5)Job description：6)Person specification: describes the sort of person suitable for the job7)Advertising methods93. Selection process:Short-listing; Interviewing (other methods); decision-making; and follow up94. Selection methods∙Interview: individual; interview panels; selection boards∙Selection tests: Intelligence; aptitude; personality; proficiency; Medical∙Reference checking: job references; character references∙Work sampling: portfolios; Trial period or exercises∙Group selection methods: assessment centers95. Interview question types:Open questionsProbing questionsClosed questionsProblem solving questionsLeading questions96. Types of interviews:97. Selection tests98. Reference checking99. Discrimination types: Sex and marital statusColor, race, nationality, and ethnic or national originDisabilitySexual orientation and religious beliefsAgeDirect discrimination/ Indirect discrimination/ Victimization/ Harassment100. Positive discrimination:----give preference to a protected person regardless of genuine suitability and qualificationPositive action:---- taking active steps to encourage people from disadvantaged groups to apply for jobs andtrainings, to compete for vacancies.101. Diversity goes further than equal opportunities102. IndividualsPersonality: total pattern of characteristic ways of thinking, feeling and behaving in environ..(Trait and types)Perception: psychological process by which stimuli or in-coming sensory data are selectedand organized into patterns which are meaningful to the individual.Attitude:Intelligence:Role theory103. Group: A sense of identityLoyalty to the groupPurpose and leadershipInformal groupFormal group: can become team104. Team: objectives; accountability; may set up by org.105. Team workingStrengths: work organization; control; idea generation; decision-making; pooling knowledgeLimitation: Not suitable for all jobsWrong purpose: fell better/ secureDelay decision-making (compromise decision, not right one)Expense of performanceGroup thinking: lack criticism, lead to risky, ill-considered decisionsPersonality clashes/ political behavior.106. Organize team work: Multi-disciplinary teamsMulti-skilled teamsVirtual teams107. Belbin: Team Roles1) Team role/ functional role2) Nine team roles108. Individual contributes to TeamsTask performanceTeam Maintenance109. Tuckman’s Stage of Team DevelopmentForming; Storming; Norming; Performing Two addition by others: Dorming; Mourning/ adjourning110. Team building: Team identityTeam SolidarityShared Objectives111. Successful Team: Task performanceTeam functioningTeam member satisfaction(Successful, effective with qualitative and quantifiable factors)112. Content Theories of Motivation1) Maslow’s Hierarchy of needsPhysiological needsSafety needsLove/social needsEsteem needsSelf-actualization2 ) Herzberg’s two-factor theoryHygiene factors/ Dissatisfiers: company policies; interpersonal relationship; salary;working conditions; quality of supervision; job securityMotivator factors/ Satisfiers: Status; challenging work; advancement/opportunitiesSense of achievement; recognition by colleagues and mgt.Growth in the job; responsibilityOffer job satisfaction: three types of job design as a motivatora)Job enrichment: Vertical extension, more responsibilities/challenge/autonomy, involved inDecision-making, participationb)Job enlargement: horizontal extension, increasing task variety and reducing task repetitionc)Job rotation: sequential extension, transfer to another job to increase task varietyJob optimization: skill variety; task identity; task significance; autonomy; feedback113. Process theories of motivationVroom’s expectancy theory F=V * Ea)Intended results should be made clearb)Individual more committed to specific goals set by themselvesc)Immediate and on-going feedbackd)Rewarded tied to standards may set lower standards114. Motivational ApproachMcGregor: Theory X (workers have to be coerced)Theory Y(workers want to be empowered)115. Extrinsic Reward: separate from the job self, e.g.: pay, benefits, non-cash incentives, workingconditionsIntrinsic Reward: arising from performance of the work itselfe.g.: satisfaction that comes from completing a piece of work, feeling ofachievement comes from doing a difficult job well116. Job design as a motivatorFeedback as a motivator: motivational feedback & developmental feedback (需改进的地方) Participation in decision as a motivator: 5CsCertainty; Consistency; Clarity; Capacity; Commitment Pay as a motivator: PRP(Performance related pay)117. Different Learning theoryBehaviorist psychology & Cognitive approach118. Honey and Mumfod’s Learning styles✓Theorist✓Reflectors✓Activists✓Pragmatists119.The Experiential Learning Cycle: Kolb120. Learning Organization1) Definition: an organization that facilitates the acquisition and sharing of knowledge, and the learning of all its members, in order continuously and strategically to transform itself in response to a rapidly changing and uncertain environment.2) Key dimensionsThe generation and transfer of knowledgeA tolerance for risk and failure as learning opportunitiesA systematic, on-going, collective and scientific approach to problem-solving3)Strengths: Experimentation;Learning from past experienceLearning from othersTransferring knowledge quickly and efficiently throughout the organization121. Training & Development & EducationMain purpose: meet performance objectiveMaximize potential for growth122. Benefits of training: for employer & employee123. Training needs and objectiveness124. Training methods: off-the-job training; on-the-job training125. Responsibility for training and developmentDevolved to the individual learner, in collaboration with line manager and training provider 126. Validation of training & Evaluation of training127. Performance management:A process to establish a shared understanding about what is to be achieved and an approach to managing and developing people in order to achieve it.128. Three main components of performance appraisal✓Reward review✓Performance review✓Potential review129. Appraisal techniques∙Overall assessment∙Guided assessment∙Grading∙Behavioral incident methods∙Results-orientated schemes130. Self-appraisals AdvantagesSave manager timeOffer increased responsibilities, may improve motivationReconciles the goals of individual and org.Flexibility in timing and relevance131. Maier’s three approaches of Appraisal InterviewTell and sell styleTell and listen styleProblem-solving style132. Barriers to effective appraisalConfrontationJudgmentChatBureaucracyUnfinished businessAnnual event133. Evaluating appraisal (effectiveness and cost-effectiveness)RelevanceFairnessSerious intentCo-operationEfficiency134. Principles of Time managementGoals: SMART---Specific, Measurable, Attainable, Realistic and Time-boundedAction plansPrioritiesFocusUrgencyOrganization135. Time management taskIdentifying objectivesPrioritizing and schedulingPlanning and control136. Coach, Mentor and Counsel137. Counseling processAdvising: directive roleCounseling: non-directive role138. Manage a conflict with someoneCommunicateNegotiateSeparate139. Manage conflict in the teamDenial/ WithdrawalSuppressionDominanceCompromiseIntegration/ CollaborationEncourage co-operative behavior140. Win-win approach141. Direction of communication✓Vertical✓Horizontal or lateral✓Diagonal142. Communication patternsCircleChainYWheelSpeed of problem solving; leader; job satisfaction143. Organization needs information for:Planning; Controlling; Decision making144. Quality of good information (ACCURATE)Accurate; Complete; Cost-beneficial; User-targeted; Relevant; Authoritative; Timely; easy to use 145. Communication process146. Grapevine。
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Chapter11. 民法(civil law)和刑法（criminal law ）的划分Civil law: an form of private law ， used by individuals to assert rights against other individualsCriminal law: an aspect of public law to regulate crimes and to punish offenders1. legislation(made by the Parliament)/secondarylegislation( in exercise of law-making powers delegatedby Parliament). [注：Necessity for delegatedlegislation/secondary legislation :more convenient ;can hand over the task of specifying the law in detail to experts] 2. 在case law 中:common law 普通法[created by judgesthrough the application of the principle of judicialprecedent. common law drew on customs/equity law 衡平法:to resolve disputes where damages are not asuitable remedy and to introduce fairness into the legal system.]2. 不同法院管辖事件的类型Chapter2 Chapter2 1. Doctrine of Precedence(遵循先例制度的一般规则): somedecisions made by a court are binding and similar subsequent legal cases should be decided on the basis of the law established in earlier cases.2. 可以创立判例法规则: Supreme Court/Court ofAppeal/High Court;不可以创立:Crown, Magistrates, County Courts cannot create precedent.3. Elements of judicial decision(影响法庭判决的因素):rationdecidendi 判决理由[the reason for the decision]/Obiter dicta 附带说明[statement made by the way, not binding, but merely of persuasive authority]4. 法官又可以因为那些理由拒绝先例(disregarding judicialprecedent): Overrule 取代[the procedure whereby a court higher in the legal hierarchy sets aside a legal ruling established in a previous case]/Reverse 推翻[a procedure whereby a court higher in the hierarchy reverses the decision of a lower court in the same case]/Distinguishing 法官的自由裁决[a precedent is avoided by a judge demonstrating that the material facts of two cases are not the same]5. Rules of Statutory Interpretation(法的解释):①the literalapproach :the literal rule[means that words in the Act should be given their literal and grammatical meaning rather than what the judge thinks they mean./the golden rule :this rule is applied in circumstances where the application of the literal rule is likely to result in an obviously absurd result. ②the purposive approach :the judge should ,where necessary ,look beyond the words of statute to find out the reason/purpose for its enactment,and that meaning should be interpreted in the light of the purpose[Mischief rule :purposive approach的具体表现形式/where a statute is designed to remedy a weakness in the law, the correct interpretation is the one which achieves it.]6.语言处理规则（法律没有追溯力 a statute does not haveretrospective effect）Chapter3 合同法（IMP）1.合同的概念a legally binding agreement enforceable in law2.从要约到承诺是否达成agreement [invitations to treat要约邀请--offer要约--acceptance承诺----agreement]3.Termination of an offer:express rejection/counter off反要约/lapse of time/revocation of an off/death/if the off is suject toa condition,it will lapse on failure of that condition4.Privity of Contract合同相对性原则: the common law doctrinethat only those are party to the contract---have rights or liabilities under the contract/ have the right to enforce the contract,contracts cannot give rights or obligations to othersChapter41.分类标准Express and lmplied terms:某个条款是否经过双方当事人协商同意（agreed by the parties）Condition，warranties and innominate terms 核心，从属和无名条款：根据条款重要性2.免责条款（三观概念）Any clause that attempts to exempt , or limit, the liability of one party for breach of contract or negligence3 test: correctly incorporated into the contract形式正确/worded clearly to exclude the breach措辞清晰/reasonable per statute内容合理Chapter5 1.type of breach⏹Repudiatory breach根本性违约：refusal to perform拒绝履行/failure to perform an entire obligation不履行某项/incapacitation无力履行/breach ofcondition 违反核心条款/breach of an innominateterm违反无名条款⏹Anticipatory breach预期违约：未到合同履行时间，当事人提前说明无法履行；收到预期违约通知可立即追究违约责任，也可等到履行合同时间追究责任Lawful excuses for non-performance开脱责任：performance is impossible因不可预见的事情发生不可履行/尝试履行被拒绝/ the other party make it impossible for him to performance/contract is discharged through frustration情势变更/the party have been agreement permitted non-performance2.Remedies : when a breach occurs, the court has to decidewhat the appropriate remedy should be.3.Liquidated damage违约金：a genuine pre-estimate ofthe loss在订立合同前已经商定了，有利于解纠纷，如果违约金过高（远大于loss）判为惩罚性，则不可执行4.specific performance ：the court directs a party tocomplete their contractual obligations以下几种情况法官不会让合同继续履行：courts cannot supervise法官无力监督履行/personal service/minors involvedChapter6 Tort侵权法A wrongful act against an individual which gives rise to a civil claim.1.过失侵权的4个证明环节（概念标准内容）Negligence:It arises when one person suffers damage or injury though the negligent act(or omission to act)of another person.①Duty of care注意义务(三步走原则)foreseeability合理预见原则关联性原则and fairness of imposing a duty of care公平合理地强加注意义务②A breach of that duty违反注意义务rule:The test for establishing breach of duty is an objective one:a breach of duty occurs if the defendant:”...fails to do something which a reasonable man...would do.”factors to considerprobability of injuryseriousness of the risk造成伤害的严重性and practicability成本可行性practice证明是行业误差范围内persons/professionalsbenefit③The breach of duty caused harm to the claimant违反义务是导致损失的原因but for testbreak in the chain of causation切断因果关系链的要素natural eventof a third party 原侵权人不承担责任of the claimant④The loss ware not too remote主张的赔偿合理Reasonable foresight只赔偿违法者可以合理预见的部分2.抗辩事由①Contributory negligence共同过失（一般只是减少赔偿额，个别情况全部免除）②Volenti non fit injuria同意不生违法（彻底免除）Chapter7 劳动法1.身份判别①Control test :The amount of control that one person had over the other②Integration test不会外包给他人的，不可或缺的③Multiple test/Economic reality testa. The regularity and method of payment报酬支付频率，支付方式b. The ownership of tools and equipment是否提供工具c. The regularity of hours of work工作时间d. The ability to delegate all the work/to provide substitute是否代理2.义务①Common Law Duties-Employers’ common law duties1)Duty of mutual trust and confidence2)To provide work for workers3)To pay wages/remuneration4)To indemnify employee against expenses and losses5)To provide for the care and safety of the employee6)No duty to provide reference when employees leave-Employees’ common law duties1) To obey reasonable and lawful orders2) To act faithfully/duty of faithful service/duty to accountfor all money and property3) To exercise reasonable skill and care in any activity in their role as an employee/reasonable competence to do his job4) Personal service亲自完成交付的责任②Statutory Duties1)Pay and equality不能低于国家平均2) Time off work3)Trade union officials工会组织罢工可以参加，还要给工资4) Every woman has a right to maternity leave and some are entitled to maternity pay5) Health and safety6)Working time:17week,not exceed 48 hours for each 7 days除非员工书面同意多工作7) Flexible workingChapter81.解雇通知时间的计算1m-2Y: not less than 1 week2y-12y:1 week for each year≥12y: not less than 12 week劳动者离职要提前一周通知，合同期满不续则每工作一年折合一个月工资2.自动正当参加非法集合罢工unofficial industrial action/对国家安全有威胁自动不正当怀孕pregnancy/员工参加工会活动/收购并购时的解雇dismissal on transfer of an undertaking/工作存在安全问题/最低工作标准/作息时间/员工在周天拒绝工作3.用人单位解雇不当Chapter9 代理法1.代理关系建立方式Express agreement between the agent and principal达成委托代理协议合同，口头书面皆可Implied agreement默认没有代理协议但默认存在关系Ratification追任代理人先履行合同，事后委托人建立合同关系Without consent of principal 没有征得委托人同意就建立关系necessity/Estoppel2.代理权限（3）Express authority明示代理权限Implied authority默认代理权限Apparent/ostensible authority看起来有代理权限，实际上并没有Chapter10 合伙企业法1.合伙企业(概念):the relationships that subsists betweenpersons carrying on a business in common with a view to profit. standard partnership is not s separate legal entity and its partners have full personal liability for the debts of partnership.2.Termination/dissolution合伙企业解散的债务处理:payingoff external debts/repaying to the partners any loans or advances/repaying the partner’s capital contribution/anything left over is then repaid to the partners in the profit sharing ratio .3.Termination/dissolution合伙企业解散的条件:expiry of afixed period stipulated in the partnership agreement/completion of the express purpose for which the partnership was formed/partner gives notice to leave/a new partner is admitted into the partnership/death or bankruptcy of partner/happening ofany event which makes company can’t carry on/on application by a partner the Court may decree a dissolution of the partnership4.Sole trade宏观特征:is not a separate legal entity, theperson and business are viewed as the same legal entity5.Authority合伙人的代理权限:express authority明示代理权限[from partnership agreement]/implied authority默示代理权限/apparent authority表面代理权限[已经退伙但其他人不知道]6. A partner’s liability usually extends to the period forwhich were actually a partner of a firm. 合伙人只对担任合伙人期间合伙企业产生的债务有清偿责任7.Limited Partnership(LP)特征:the partnership must beregister with the Company Registry/one or more of the partners must bear full,unlimited liability/partners with limited liability may not take part in management and cannot usually bind the business in contract/limited partner cannot withdraw their capital8.Limited Liability Partnership(LLP)特征:must be registeredwith the the Registrar of Companies, with formation documents signed by at least two members/has a legal personality separate/ the name of partnership must end with LLP/partners are known as members, of which there must be at least two/LLPs must file annual returns and accounts/all members are agents of LLP/all members’liability is limited/a designated member is responsible for administration and filing/LLP is not subject to corporation taxChapter121.设立pre-incorporation contacts谁来履行？Promoters发起人2.交什么文件①Memorandum of association公司章程（89年）②Application for registration注册申请书③A statement of capital and initial shareholdings关于公司资本坏人原始持有股份的状况说明④Statement of compliance遵从声明⑤A statement of company’s proposed officers拟任命谁为公司管理人员⑥A copy of any proposed articles of association自拟公司章程（06年）不是必须提交，没交使用默认模版3.2个证书的功能①Certificate of incorporation注册许可证Private company 只需要注册许可证，是形式审查②Trading certificate营业许可证Public company需要两个证，申领到注册许可证后一年内要申领到营业许可证，否则强制清算，是实质审查share capital is at least ￡50,000(允许股东分批缴纳)least one quarter of the nominal value of the allotted share capital has been paid up(minimum ￡12,500)首次不低于票面的1/4，为确保一开始不会有资金困难of promoters’ expenses设立费用具体怎么产生statement of compliance in respect of payment of nominal values and share premium4.章程修改的程序和内容-Contentsa. Directors’ powers and responsibilityb. Decisions making by directorsc. Appointment of directorsd. Organization and conduct of general meetingse. Issue and transference of sharesf. Payment of dividendsg. Exercise of members’ rights-Alteringa. Passing a special resolution通过股东会的特别决定，3/4以上同意批准b. Providing the alteration has been made “bona fide in the interest of the company as a whole”内容符合全体股东的意愿5.各个公司名称缩写代表含义-Ltd：Limited-plc：public limited companyChapter131.capital的分类2.普通股优先股的概念和差异3.Bonus issue红利股发行The capitalization of the reserves if a company by the issue if additional shares to existing shareholders, in proportion to their holdings. Such shares are normally fully paid-up with no cash called for from the shareholders4.Share premium概念shares may be issued at a price above their nominal value, the difference between the issue price and the nominal value is a share premium用途the issue of fully paid bonus share/writing off the preliminary expenses of company formation/writing off the discount on the issue of debentures/repurchase of debentures at a premiumChapter11 公司法The consequences of separate legal personality for the company are as follows:(1897年案例引出的规则）1: members' liability is limited.2: perpetual succession become possible as the company will need to be formally wounded-up.3: the company itself can own property.4 :the company can use, and be sued in its own name.Types of company (公司的分类）。