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Part
1:
Internal
Control
&
Ethics（P1
SU1,
SU9,
SU10)Part
1:
Internal
Control
&
Ethics该版块英文阅读要点偏重于类似法律条款的用词，较难理解。几乎没有计算题，纯“阅读理解”。许多丏用名词没有对应的中文解释，注意不可用中文翻译杢理解。读题量较大，需要提高阅读速度。尚无短期内绝对提高英语水平的斱法，但可针对考试提高迅速抓取信
息的能力。Part
1:
Internal
Control
&
EthicsSection
1:词汇和用语Section
1:词汇和用语Section
1:词汇和用语Section
1:词汇和用语Section
2:知识点提要1.2.3.4.Section
2:知识点提要Section
2:知识点提要Answer:
AA
-
is
a
dundamental
segregation
of
duties
needed
for
internal
controlC
-
is
alrightD
-
is
a
typical
delegation
of
authority
by
th ,
however,
the
directors
should
periodicallyreview
the
activitySection
2:知识点提要Answer:
DA,
B
are
both
required
by
internal
control,
C
makes
difficult
for
fictitiousemployees
to
receivechecks.D
is
a
common
practice
of
most
companies.Answer:
AA
-
assistant
treasurer
is
reporting
to
treasurer,
no
SOD
isbroken.B.
warehouse
clerk
may
use
the
authority
to
cover
thefts
of
inventory.C.
never
allowed,
voilate
SOD.D.
time
clerkmay
conceal
the
terminationof
the
employees
and
keep
the
check.Answer:
CA
-
is
less
effective
procedure
than
actual
observation
of
the
inventoryD
-
confirmingwith
the
custodian
the
amount
of
inventory
on
hand
does
not
verify
that
theinventory
is
actually
at
the
warhouseAnswer:AAnswer:
DA
-
signing
paychecks
=
custodianship,
custody
of
blank
payroll
check=record
keeB
-
payroll
preparation
=
record
kee ,
check
distribution
=
custodianshipC
-
approval
=authorization,
preparation
of
paycheck
=
record
keefunctionAnswer:
CA
-
signing
paychecks
=
custodianship,
custody
of
blank
payroll
check=record
keeB
-
payroll
preparation
=
record
kee ,
check
distribution
=
custodianshipC
-
approval
=
authorization,
preparation
of
paycheck
=
record
keefunctionPart
2:
Costing（P1
SU2,
SU3,
SU7)Part
2:
Costing该版块英文阅读要点计算题居多，较少需要强记的内容。数字居多，要求对数字敏感，在众多数字中抓取信息的能力较强。成本会计丏用的名词需要熟练运用。Part
2:
CostingSection
1:词汇和用语Section
1:词汇和用语Section
1:词汇和用语Section
1:词汇和用语Section
1:词汇和用语Section
2:知识点提要Section
2:知识点提要•Section
2:知识点提要Section
2:知识点提要Section
2:知识点提要Answer:
ABWIP:
16000
*
80%=
12800S&C:
76000*100%
=
76000EWIP:
24000*40%
=
9600total
EUP
=
98400Answer:
BMethod
1:
Direct
method
(within
around
2minutes)New
materialRev
=
300,000
*98%
*
50
=14,700,000Cost
=
300,000
*(20+4+8)
=
9,600,000Margin
=
5,100,000Old
materialRev
=
300,000
*88%*
50
=13,200,000Cost
=
300,000
*(17.5
+
4
+8)
=
8,850,000Margin
=
4,350,000Net
benefit
=
750,000Method
2:
Incremental
method
(within
around
0.5minute)incremental
revenue
=
300,000
*
(98%
-
88%)
*
50
=
1,500,000incremental
cost
=
300,000
*
(20
-
17.5)
=750,000net
benefit
=750,000Answer:
Cof
all,
list
out
the
phisical
units
duringAprilB.I.
=
5000S&C
=23500
(28500
-
5000
=
32000
-
2500
-
6000)Inspection
out
=
2500E.I.
=
6000Note:
when
using
weighted
average
costing,
all
cost
in
BWIP
are
considered
in
currentmonth!BWIP
=5000
*
100%=
5000S&C
=23500
*
100%
=23500Inspection
out
=
2500
*
100%
=
2500
(since
it's
final
inspection,
100%
with
conversion
cost,material
input
when
50%
of
conversion
cost)EWIP
=
6000
*
0%
=
0
(EWIP
is
40%,
which
is
earlythan
material
input
when
50%
conversioncost)EUP
=5000
+23500
+
2500
=31000Answer:
DTotal
units
receive
inspection
=
460800=
483400normal
spoliage
=4%
*483400
=19336the
rest
3260
(22600-19336)
is
abnormal
spoliageAnswer:
DThis
question
simply
requires
very
clear
understand
overhead
applied
and
actual
overhead,
and
consequentoverapply
or
underapply.Budgeted
direct
labor
=
320,000budgeted
overhead
=
448,000This
means:
overhead
applied
rate
=
$1.4
per
direct
labor
dollarYearly
actual
direct
labor
=
345,000Times
1.4Yearly
overhead
applied
=
345,000
*
1.4
=
483,000Actual
overhead
=
459,000We
have
overhead
overapplied
=
$24,000Answer:
Btotal
cost
=
4.3*
1000
=
4300direct
material
cost
=
1000direct
labor
cost
=1500overheadcost
=
4300-1000
-
1500
=1800machine
hours
for
this
order
=
450overhead
application
rate
=
1800/450
=
4
per
machinehourannual
budgeted
overhead
=
4
*
150000
=
600000$44.00$197.50$241.50$501.00.Answer:
Boverhead
applied
to
tooling
in
job
#231
=
8690
/
440
*
10
=197.5Method
1:Under
absorption
costingunit
fixed
manufacturing
cost
=
600,000
/
200,000
=
$3Total
unit
cost
=
30
+
3
=$33unit
gross
margin
=
40-
33
=
$7Total
gross
margin
=
$7*120,000
=
$840,000Further
minus
S&A
=
$400,000We
have:
operating e
=
$440,000Method
2:under
absorption
costingcontribution
margin
=
($40-
$30)
*
120,000
=$1,200,000Minus
fixed
manufacturing
cost
=
$600,000
(under
variable
costing)Minus
S$A
=
$400,000We
have
operating e
=
$200,000
(under
variable
costing)Total
fixed
manufacturing
cost
=
$600,000Units
produced
=
200,000unit
fixed
manufacturing
cost
=
$3Units
capitalized(those
produced
while
not
soldyet)=80,000Fixed
manufacturingcostcapitalized
=
80,000*$3=$240,000Thus,
under
absorption
costingOperating e
=
Operating e
under
variable
cost
+
capitalized
fixed
manufacturingcost=
$200,000
+
$240,000
(since
more
producedthan
sold)
=
$440,000Answer:
DAnswer:
BThe
predetermined
allocation
rate
=
$2.5
per
machine
hour
and
2
machine
hours
per
unit
produced.Actual
units
produced
=
48,000overhead
applied
=
48,000
*
2
machine
hours
per
unit
*
$2.5
per
machine
hour
=
$240,000Answer:
AFRS1C
=27000
+
(FRS2C*20%)FRS2C
=
18000
+
(FRS1C*10%)solve
these
two
equations,
we
get,FRS1C
=
31225FRS2C
=
21122cost
allocated
to
P2:fromS1
=31225*40%
=12490from
S2
=
21122*50%
=
10561total
=
23051Answer:
DNote
thequestion
asks
for
thevalue
of
ending
inventory,
which
is
half
of
the
allocatedcommonf rade
2
(120,000
sold
outof
240,000
produced)Part
3:
budget,forecast
&
performance
evaluation
（P1
SU4,SU5,
SU6,SU8)该版块英文阅读要点Section
1:词汇和用语Section
1:词汇和用语Section
1:词汇和用语Section
2:知识点提要Section
2:知识点提要Section
2:知识点提要Answer:
C
(below
calculation
is
denominated
in
thousand
dollars)RI
=
2000
=
net e
-
(total
assets
*
imputed
interest
rate)=
revenue
-
cost
-
(working
capital
+
plant
and
equipment
*
imputed
interest
rate)=
30000
-
cost
-(1800
+17200)
*15%Section
2:知识点提要Section
2:知识点提要Answer:
C
(below
calculation
is
denominated
in
thousand
dollars)RI
=
2000
=
net e
-
(total
assets
*
imputed
interest
rate)=
revenue
-
cost
-
(working
capital
+
plant
and
equipment
*
imputed
interest
rate)=
30000
-
cost
-
(1800
+17200)
*
15%Answer:
DAnswer:DBelows
are
weakening
the
effect
of
goal
congruenceChoice
A:
cost
based
transfer
pricing,
imposed
budgetingChoice
B:
nothing
detrimental,
whereas
zero-based
budgeting
and
standard
cost
does
not
help
eitherChoice
C:
cost
based
transfer
pricing
policyAnswer:
AAnswer:
AAnswer:
DThis
questiontests
two
points
of
knowledge:
controllability
and
cost
classification.In
a
responsibilityaccountingsystem,
the
only
costs
that
a
manager
should
be
evaluated
on
arethose
costs
that
the
manager
can
control.
In
this
case,
the
warehouse
supervisor
can
control
thereceiving
staff's
wage
and
ship staff's
wage,
but,
he
can
not
control
his
own
salary,
which
iscontrolled
by
top
management.Another
point,
the
question
asks
for
the
cost
classified
as
product
cost.
According
to
GAAP,
thereceiving
cost
should
be
booked
as
product
cost,
whereas,
the
ship cost
should
be
booked
asperiod
cost.By
acknowledging
the
above
two
points,
we
can
solve
the
question
as
follows,Receiving
clerk's
wage:
75000Receiving
clerk's
benefit
cost:
75000
*
30%
=
22500Total
period
cost
=
97500
(notice
the
supervisor's
own
salary
is
not
controlled
by
himself,therebyexcluded
from
the
calculation.)Answer:
BBeginning
inv.=728000/1.3*0.25=140000cogs=728000/1.3=560000ending
inv.=624000/1.3*0.25=120000purchase
=
cogs+ending-beginning=540000Answer:
Ccope
the
"Finished
goods"
flowBeg.
=
250Sales
=
2000End.
=
325Production
=
2000
=2075then
cope
the
"raw
material"
flowBeg.=400required=2075*4=8300end.=800purchase=8300
=8700Answer:
Cthe
difficult
point
is
we
don't
know
the
exact
sales
revenue
in
Deb.
&
Nov.
but
weknow
the
uncollected
AR
balance
for
these
two
months'
sales,
with
a
time
trick
there,we
need
somewhat
calculation
right
as
follows,Simply
the
sales
in
Jan
is
100000,
during
Jan
we
will
collect
40%
of
it,
40000for
Deb
sales,
it
has
collected
40%
during
Deb,
so
the
72000
of
AR
balance
at of
Deb.stands
for
60%
for
the
total
sales
of
Deb,
which
is
72000/60%=120000,
and
during
Jan
50%
of
thisamountwill
be
collected
as
the
policy,
thus
we
have
120000*50%=60000for
Nov
is
simpler,
8000
at of
Deb
stands
for
all
the
rest
AR
uncollected
for
Nov
sales
andwill
be
collected
during
Jan
as
the
policy
ls.Thus
the
total
cash
collect
during
Jan
=
40000(Jan
sales)
+
60000
(Deb
sales)
+
8000
(Nov
sales)
=108000Part
4:
Financial
Statements(P2,
SU1,SU2,SU3)该版块英文阅读要点Section
1:词汇和用语Section
1:词汇和用语Section
1:词汇和用语Section
2:知识点提要Section
2:知识点提要Section
2:知识点提要Section
2:知识点提要•1.2.•1.2.3.Section
2:知识点提要•••••Answer:
BChange
in
Assets
=
change
in
liability
+
change
in
equityChange
in
Assets
=
356000
+
52000
=
408,000change
in
liability
=
108,000
(before
dividendpayment)or
change
in
Assets
=
356,000change
in
liability
=
108,000
-
52,000
=
56,000
(after
dividendpayment)Both
situation
has
the
same
change
in
equity
=
300,000increase
in
retained
earning
(
net e
)
=
300,000-
240,000
-
24,000
=
36,000Answer：A销售收入=4000000毛利率=0.25销售成本=3000000库存商品应该减少3000000实际库存减少160000，表明有材料采购入库，金额为3000000-160000=2840000另外用于库存的应付减少，表明除该2840000（可能未用应付支付）还有支付之前采购材料应付275000，应加上，总共3115000Answer:
AAnswer:BAll
sales
are
on
account,
so
AR
should
increase
by
800,000.
But,
actual
AR
increases
by
30,000,this
means,
during
the
month,
cash
collection
is
800,000
-
30,000
=
770,000.
And
we
have
cashdisbursement
780,000,
the
net
cash
flow
is
-10,000.
The
beginning
cash
balance
was
50,000,we
get ing
cash
balance
=
40,000Answer:
AB
/
D:
decrease
current
ratioC:
unchangeAnswer:
C
Current
ratio
=
3.5Acid
test
ratio
=
3inventory
(end)
/
currentliability
=
0.5inventory
(end)
=
0.5
*
600,000
=
$300,000inventory
(beginning)
=
$500,000average
inventory
=
$400,000Cost
of
sales
=
8
*
400,000
=
$3,200,000Answer:
AA:
when
a
firm
is
view
as
with
high
growth
opportunities,
more
investors
will
buy
the
share
so
theprice
will
high,
the
P-E
will
be
high
accordingly.B.
When
the
firm
has
losses,
P-E
can
not
be
calculated
(denominator
=
0)C.
When
the
firm
has
very
low
profit,
P-E
will
be
extremely
high,
which
is
meaningless.D.
P-E
express
the
relationship
between
market
share
price
and
EPS,
not
sales.Answer:
CEarning
yield
=
1
/
price-earning
ratio
=
1/
7.2
=
13.9%Dividend
per
share
=
market
price
per
share
*
dividendyield=
$25
*
5%
=
$1.25Earning
per
share
=
market
price
per
share
*
earning
yield
=
$25
*
13.9%
=
$3.472Dividend
payout
=
dividends
per
share
/
earning
per
share=
$1.25
/
$3.472
=
36%Answer:
DAssets
=
Debt
+
EquityNeed
to
spend
1.2
million,
while
keep
capital
structure
the
same
as
60%
equity,thecompany
need
to
finance
the
60%
of
1.2
million
from
equity
to
keep
the
capital
structureunchanged,
so
$720,000
(1.2
million
*
60%)
will
be
used
to
finance
capital
spending.Given
net e
=
$800,000,
dividend
paid
is
only
$80,000
($800,000
-
720,000)
,
so
thedividend
payout
ratio
=
10%.Answer:
ALet
me
conclude
what
to
be
noticed
when
calculating
DEPS:1.DEPS
=
net e
available
to
common
shareholders
/
common
stock
outstanding
if
dilutedDiluted
EPS
is
the
potential
situation
consideration,
whi eans
not
actually
diluted
yetIf
diluted,
stock
dividends
are
viewed
as
with
full
year
weighted,
even
actually
declared
in
themiddle
of
a
yearIf
diluted,
there
might
be
some
changes
on
the
numerator,
such
as
potential
decrease
ofintertest
(net
of
tax)Solution:Current
outstanding
shares
=
80,000
sharesPotential
converted
shares
=
20,000
shares
(not
yet
converted)Diluted
shares
=
100,000
sharesNet e
=
$107,000But,
if
converted,
less
interest
will
be
paid
since
debt
has
been
converted,so
remember
to
add
back
the
reduced
interest
(net
of
tax)Reduced
interest
=
200,000
*
8%
=
$16,000After-tax
effect
=
16,000
*
(1
-
34%)
=
$10,560So
the
DEPS
=
(107,000
+
10,560)
/
100,000
=
$1.18
per
sharePart
5:
Short/long
term
finance(P2
SU5,SU6)该版块英文阅读要点Section
1:词汇和用语Section
1:词汇和用语Section
1:词汇和用语Section
1:词汇和用语Section
2:知识点提要Section
2:知识点提要Answer:
Ccurrent
common
shares
outstanding=
10,000,000
/
5
=
2,000,000the
common
shareholder
has
1%
common
shares
outstanding
(2,000,000
/
20,000)option
to
buy
additional
shares
=
1%
*
400,000
=
4,000
sharesAnswer:DKp
=
Dp
/
(Pp
–
F)Kp
=
(100*8%)
/(92-5)
=
9.2%Answer:
BAnswer:DWhen
stock
price
=
$30call
option
is
worthless,
put
option
will
worth
$10
($40-$30)stock
price
is
$30total
payoff
is
$40.When
stock
price
=
$45put
option
is
worthless,
call
option
will
worth
$5
($45-$40)
(loss
to
company
AA)stock
price
is
$45total
payoff
is
still
$40
($45-$5)Answer:
DActual
cost
of
capital
of
bond
=
8%
*
(1
-
40%)
=
4.8%0Answer:
DAnswer:C15
days
*
40%
+
30
days
*
40%
+
45
days
*
20%
=
27
daysAnswer:
BReorder
point
=
(average
weekly
demand
*
lead
time
in
weeks)
+
safety
stock
=10,000
/
50
*
4
+
1300
=
2,100
unitsAnswer:
DAnswer:
AIf
Alpha
makes
this
special
purchase
(the
period
will
be
6
months
normal
purchase)theaverage
inventory
will
be
(180,000
*
10)
/
2
=
$900,000.
If
the
purchase
is
not
made,
averageinventory
will
be
(30,000
*
12)
/
2
=
$180,000.
So
the
increased
average
inventory
balance
is$720,000.
The
cost
of
carrying
this
increased
inventorywill
be
(720,000
*
9%
/
2
)
=
$32,400(since
the
period
is
6
monthsonly)Part
6:
risk
mana
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