ACCA考试《财务成本管理》辅导（8）
来源 :中华考试网 2017-06-28
中The Accounting Rate of Return
The information provided by AICO plc is based on hypothetical cash flows. This information is insufficient for establishing the ARR of the two models; therefore it will be necessary to calculate the annual depreciation figures for the two machines. To arrive at the annual accounting profits will necessitate a deduction from each year?s net cash inflows ? the annual depreciation figure.
Super model
Depreciation per annum = Cost less scrap value
Life of machine
= ￡500,000 less 20,000
6
= ￡80,000 per annum
Deluxe model
Depreciation per annum = ￡800,000 less 80,000
6
= ￡120,000 per annum
Now that we have calculated the annual depreciation for each machine, let us establish the annual accounting profit or loss for each machine.
|
Super model Year |
Cash inflow |
less |
Depreciation |
=Accounting Profit/(Loss) |
|
1 |
250,000 |
? |
80,000 |
= 170,000 |
|
2 |
100,000 |
? |
80,000 |
= 20,000 |
|
3 |
100,000 |
? |
80,000 |
= 20,000 |
|
4 |
50,000 |
? |
80,000 |
= (30,000) |
|
5 |
150,000 |
? |
80,000 |
= 70,000 |
|
6 |
100,000 |
? |
80,000 |
= 20,000 |
|
Total accounting profit |
270,000 | |||
|
Therefore the average accounting profit |
= ￡270,000 |
|||
|
_______ |
||||
|
6 |
||||
|
= ￡45,000 |
||||
|
Average Capital Employed |
= ￡500,000 + 20,000 |
|||
|
2 |
||||
|
= ￡260,000 |
||||
|
ARR |
= 45,000 x 100 |
|||
|
260,000 |
||||
|
= 17·30% |
||||
|
Deluxe Model |
||||
|
Year |
Cash inflow |
less |
Depreciation |
= Accounting Profit/(Loss) |
|
1 |
150,000 |
? |
120,000 |
= 30,000 |
|
2 |
200,000 |
? |
120,000 |
= 80,000 |
|
3 |
250,000 |
? |
120,000 |
= 130,000 |
|
4 |
100,000 |
? |
120,000 |
= (20,000) |
|
5 |
100,000 |
? |
120,000 |
= (20,000) |
|
6 |
250,000 |
? |
120,000 |
= 130,000 |
|
Total accounting profits |
330,000 | |||
|
Average accounting profit |
= ￡330,000 |
|||
|
6 |
||||
|
= ￡55,000 |
||||
|
Average capital employed |
= ￡800,000 + 80,000 |
|||
|
2 |
||||
|
= ￡440,000 |
||||
|
Therefore ARR |
= ￡55,000 x 100 |
|||
|
￡440,000 |
||||
|
= 12·50% |