Accounting And Fiance an der Fontys University Of Applied Sciences | Karteikarten & Zusammenfassungen

Lernmaterialien für Accounting and Fiance an der Fontys University of Applied Sciences

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TESTE DEIN WISSEN
What are Unit costs ? 
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TESTE DEIN WISSEN
Is one unit of production of which the cost is being determined (e.g. one unit of a phone) 
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TESTE DEIN WISSEN
Return on capital employed (ROCE):
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TESTE DEIN WISSEN
(operating Profit/(Share capital+Reserves+noncurrent.liab.))*100
- measures business performance 
—> compares operating profit with average long term capital invested in a business
Average values for long term capital employed are used (beginning+end/2)
should be as high as possible 
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TESTE DEIN WISSEN
How to directly create the cash flow statement?
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TESTE DEIN WISSEN
1. analysing of cash records 
—> identify all cash payments & receipts of Operating activities 
—> used not so commonly 
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TESTE DEIN WISSEN
Operating Profit Margin (OPM) :
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TESTE DEIN WISSEN
(Operating Profit/Sales Revenues)*100 
Measures operating performance 
—> operating profit represents profit from trading operations 
Interest and Tax are excluded 
can very considerably between different Types of business 
e.g. Supermarked= low Margin 
Juwellers= high Margin 
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TESTE DEIN WISSEN
How to use budgeting for control? 
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TESTE DEIN WISSEN
- control involves making events conform to a plan 
- Budgets provide a yardstick wether things are going right 
- Variance between budget and actual performance can be identified 

1. Prepare budget
2. Perform and collect data on actual performance 
3. respond to variances 
Lösung ausblenden
TESTE DEIN WISSEN
What are the two ways of constructing a budget? 
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TESTE DEIN WISSEN
Incremental Budget
  • set on basis of what happened last year
  • just adjusting unit (e.g Inflation) 
Zero-Base Budget (ZBB) 
  • All spendings need justification 
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TESTE DEIN WISSEN
How can you draw a line between balance sheet and the income statement? 
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TESTE DEIN WISSEN
Profit/Loss for the year= equity 
Assets= Liability’s + Equity 

More completed accounting equitation:
Assets= Liabilitys+Equity+(Revenue-Expense) 
                                                        Profit/Loss 
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TESTE DEIN WISSEN
What are the main features of the Cash flow statement? 
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TESTE DEIN WISSEN
Operating activity’s = Day to Day trading activities 
Investment activities= buying and disposing non current assets 
Financing activities= long term financing of the business 

Final cash balance = Cash balance to be listed in balance sheet (current asset) 


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TESTE DEIN WISSEN
What is financial accounting? 

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TESTE DEIN WISSEN
It seeks to meet accounting needs for users of financial information. Like SEC, investors etc. 
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TESTE DEIN WISSEN
What is the level of detail between management and financial accounting ? 
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TESTE DEIN WISSEN
Financial accounting: broad averages of performance and positions 
Management accounting: provides considerable detail to help with particular operational decision 
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TESTE DEIN WISSEN
Accounting as a information system: 
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TESTE DEIN WISSEN
1. identifying and capturing relevant information 
2. Recording, in a systematic way, the information collected
3. Analysing and interpreting the information collected 
4. reporting the information in a manner that suits the users needs

information identification—> information recording—> information analysis--> information reporting 

analysis and reporting of financial information are the main part! 
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TESTE DEIN WISSEN
What is a current Liability? 
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TESTE DEIN WISSEN
..are amounts due for settlement in short term 
- settled within business normal operating cycle
- held for trading purpose 
- due to be settled within a year
- no right to expand settlement over a year! 
E.g. Trade payables or bank overdrafts 
Lösung ausblenden
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Q:
What are Unit costs ? 
A:
Is one unit of production of which the cost is being determined (e.g. one unit of a phone) 
Q:
Return on capital employed (ROCE):
A:
(operating Profit/(Share capital+Reserves+noncurrent.liab.))*100
- measures business performance 
—> compares operating profit with average long term capital invested in a business
Average values for long term capital employed are used (beginning+end/2)
should be as high as possible 
Q:
How to directly create the cash flow statement?
A:
1. analysing of cash records 
—> identify all cash payments & receipts of Operating activities 
—> used not so commonly 
Q:
Operating Profit Margin (OPM) :
A:
(Operating Profit/Sales Revenues)*100 
Measures operating performance 
—> operating profit represents profit from trading operations 
Interest and Tax are excluded 
can very considerably between different Types of business 
e.g. Supermarked= low Margin 
Juwellers= high Margin 
Q:
How to use budgeting for control? 
A:
- control involves making events conform to a plan 
- Budgets provide a yardstick wether things are going right 
- Variance between budget and actual performance can be identified 

1. Prepare budget
2. Perform and collect data on actual performance 
3. respond to variances 
Mehr Karteikarten anzeigen
Q:
What are the two ways of constructing a budget? 
A:
Incremental Budget
  • set on basis of what happened last year
  • just adjusting unit (e.g Inflation) 
Zero-Base Budget (ZBB) 
  • All spendings need justification 
Q:
How can you draw a line between balance sheet and the income statement? 
A:
Profit/Loss for the year= equity 
Assets= Liability’s + Equity 

More completed accounting equitation:
Assets= Liabilitys+Equity+(Revenue-Expense) 
                                                        Profit/Loss 
Q:
What are the main features of the Cash flow statement? 
A:
Operating activity’s = Day to Day trading activities 
Investment activities= buying and disposing non current assets 
Financing activities= long term financing of the business 

Final cash balance = Cash balance to be listed in balance sheet (current asset) 


Q:
What is financial accounting? 

A:
It seeks to meet accounting needs for users of financial information. Like SEC, investors etc. 
Q:
What is the level of detail between management and financial accounting ? 
A:
Financial accounting: broad averages of performance and positions 
Management accounting: provides considerable detail to help with particular operational decision 
Q:
Accounting as a information system: 
A:
1. identifying and capturing relevant information 
2. Recording, in a systematic way, the information collected
3. Analysing and interpreting the information collected 
4. reporting the information in a manner that suits the users needs

information identification—> information recording—> information analysis--> information reporting 

analysis and reporting of financial information are the main part! 
Q:
What is a current Liability? 
A:
..are amounts due for settlement in short term 
- settled within business normal operating cycle
- held for trading purpose 
- due to be settled within a year
- no right to expand settlement over a year! 
E.g. Trade payables or bank overdrafts 
Accounting and Fiance

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