内容2021-09考经2016年5,6月份p2

1、一1A.定义相关成Relevant cost is also called incremental costs, marginal costs,一1A.定义相关成Relevant cost is also called incremental costs, marginal costs, differentialcosts,isdifferamongoptionsandisfutureB.并列举相关成本/不相关成本（结合题目没有案例，所以不好判涉及到make or buy，那么相关成本：DM、DL、variable cost avoidablefixed不相关成本：unavoidable fi

2、xed 2、TodefineexplicitcostandimplicitExplicit costs are those requiring actual cash disbursements. For reason,theyaresometimescalledout-of-pocketoroutlayImplicit cost are those costs not recognized in a concerns accounting 3、makeorbuy的流A、Determination of relevant Incremental cost of insourcing = dir

3、ect material + direct labor variable erhead + avoidable fixed cost + marketingexpense(ifIncrementalcost ofoutsourcing = numberofunits purchased *pricecontributionmarginmarketingexpense(ifIncrementalcost ofoutsourcing = numberofunits purchased *pricecontributionmargingeneratedbyutilizingidleB、4、makeo

4、rbuy的计按上述的步骤，从题目中找数二、决策分析的1、计算每一年的折现净现金特别注意 0 时点和最后一年的现金流计算，中间的几年差二、决策分析的1、计算每一年的折现净现金特别注意 0 时点和最后一年的现金流计算，中间的几年差别不会很0 时点=initial investment + initial working capital requirement +after-taxproceedsfromalofolderim incremental net cash flows = (revenues operating tion expenses) (1 tax rate) + tion exp

5、enses 【aftertaxannual【tax shield 折旧费用税盾Terminal-year incremental flow = (revenue expenses) (1 tax rate) + tion expenses tax rate working capital collected（ 一定+After-了加回来proceedsfromalofnew= Costof=CostofE=MarketvalueofthefirmsD=Marketvalueofthefirmstaxtionexpenses(revenueoperatingexpenses)(1taxT=Cor

6、poratetaxV= D+=Capitalusedtogenerate3、T=CorporatetaxV= D+=Capitalusedtogenerate3、计算项目折现回收期并列举折现回收期的优用初始投资和每年的折现净现金流（discounted cash flows）来算.每年的 discounted cash flow 累加，直到达到初始投资额为止。【注意一年的现金流是在年初还是年底收到的ThemethodconsidersthetimevalueofThismethodlosesthesimplicityofthebasicpaybackThe discounted-payback

7、 rule still takes no account of any flowsafterthecutoff4、定义敏感性分析并说明该如何应用（结合案例ysis is a type of “what if” yysis whichvariables ormptions are changed from a basecase in to determine their impact on a projects measured results, such NPVorIRR（yearlychangeinnetoperating“在其他条件不变时”，明确哪些变量或指标对项目的最终结果产生最大影5、

8、本量利分计Breakevennumberofunits=FC/Breakevenrevenue=FC/三1、现金5、本量利分计Breakevennumberofunits=FC/Breakevenrevenue=FC/三1、现金持有的ions motive: to meet payment, such as purchases, taxes,anddividends,heordinarycourseofSpeculative motive: to take advantage of temporary suchasasuddenhepriceofarawPrecautionarymotive:

9、toainasafetycushionorbufferto unexpectedcash2、舞Opportunityirsonnotonlytobut also to conceal a fraud. It is created by controls, lack of enforcement of those controls. t is the one characteristics of t can be controlled by management of re：it is s reason or need for committing usually is the need for the cash, the biggest motivation for a isrsons ability to justify actions asusually is the need for the cash, the biggest motivation for a isrsons ability to justify actions as with his or ersonal code of ethics. It is the reason of employee who wants to prove t hi