CPA Aus Finished

After 6:00pm Australian Eastern time of 17 June 2011, my journey of CPA Australia was finally over, and at the same time, so was my study in Macquarie University.

Even thought this certificate itself is not a big deal in China, it, on the other hand, can be seen as a prove of myself. I always know what should be done and what should be focused on even if I was emotionally unstable in darkness.

Anyway, it is worth to be remembered.

Advanced Audit and Assurance: Distinction

Strategic Management Accounting: Distinction

Advanced Taxation: High Distinction

Financial Reporting: High Distinction

Ethics and Governance: Distinction

Global Strategy and Leadership: Distinction

 

CPA 117 Global Strategy And Leadership (1/N)

ApproachesTo Understanding Strategy

The rational approach
Rational approach的特点，就是至上而下的，很好地计划和组织企业的策略，类似于军事化管理，管理层有绝对的权利。This approach is based on a model in which the conception andexecution of strategy are treated as discrete, sequential activities。
这种方式，从制定企业长期的目标开始，按照预先制定的步骤运行，然后根据计划对资源进行分配。典型的运行步骤包括：
1）The establishment of clearstrategic objectives;
2）The analysis of an organisation’sstrategic situation, its external environment, and its internal resources andcapabilities;
3）The generation, evaluation andchoice of strategic options based on their potential to optimize theachievement of the established objectives;
4）Implementation of the chosenstrategic option, which is usually expressed in a strategic plan.
Rationalists have adoptedmechanistic principles, based on military practice and hierarchical command, indeveloping their theory of strategic management.

The processual approach
这种方式下，企业一般处在比较复杂多变的环境。既定的策略无法适应多变的经营环境，而金字塔型的管理方式无法在及时地对策略进行变更。The decision-making process is characterized by negotiation,bargaining and compromise between these coalitions.
Rational approach认为管理层拥有控制权，而processual approach则认为管理层的权力需要受到限制。
The word planning denotesrational control and systematic analysis, whereas the word crafting evokesimages of creativity, adaptation, and intuition.
Table 1.1对这两种方式的差别进行了很好的总结。

The evolutionary approach
这种方式，比processual更加极端，更加激进。类似于达尔文的‘适者生存’理论，evolutionary认为市场的变化不可预测并且无法控制，企业不可能制定出有效的策略去适应，而环境会选择会适应市场变化的企业，使其生存下来。
The evolutionary approach to strategysuggests that an organization’s leaders should work on achieving competitiveadvantage by improving operational efficiencies in the short term.

The systemic approach
这个理论认为，企业的策略应该重视企业文化和所处的政治环境。The strategy is embedded in the culture values, norms and rules ofthe organization and the society in which it operates.
为了理解策略，企业需要首先了解其所处的社会和经济环境。

Fuzzy strategy
Depending on the outcome, organizations mayadopt only those strategies that work and discard those that do not.

In summary, the rational approach is useful as an organizingframework to think through and plan strategy. The processual approach has importantimplications for managers at the point where the rational approach is limitedin its usefulness. The evolutionary approach points to the importance ofvariety and diversity, while the systematic approach suggests that leaders need totell strategy as a story that is compelling, engaging and persuasive foremployees.

TheStrategy Process

这一部分的内容，可以看成是整个课程的一个缩影。这门课主要Rational approach进行了讲解。在rational approach下，我们需要进行以下步骤：
1)Determining the purpose of the organization;
2)Understanding and analyzing theexternal environment outside the organization;
3)Understanding and analyzing theinternal environment inside the organization; and
4)On the basis of these analyses,formulating and implementing strategy.

Organizational purpose and vision
首先，我们需要了解企业的目标，定位，以及企业的能力。设定和更新企业目标这一活动不是一次性，而应该是根据企业所处的环境变化，而不断地进行变动，使得企业可以获得新的机会或者在竞争中生存。

Analyzing the external environment
管理者需要对企业所处的外部环境有一个宏观的了解，例如：macro-economy, industry/markets, competitors。The purpose of strategy tools for analyzingthe environment is to identify the key issues and ways of coping withcomplexity and change.

Analyzing the internal environment
除了对外部环境的了解，管理者还必须做到对企业的内部环境了如指掌。管理者需要知道企业的优势和劣势，以便于制定出符合企业自身条件的策略。

Formulating and implementing strategy
Formulating strategy就是要在前面分析的基础上，进行选择。Based on thepreceding analysis, a key leadership task is to determine how to make the organization’svision a reality and how to carry out its mission。
选择了最合适的策略后，管理层就要开始着手执行计划，即implementing strategy，例如：managing resources, people, culture and providing leadership。

StrategicThinking

Strategic thinking的中心内容，就是要如何将企业的日常运行和其预想的蓝图结合起来。Thechallenge is to be innovative and creative but to include this within a formalstrategic planning process (a balance between creativethinking and disciplined planning routines).

Strategic planning
The strategic planning process shouldprovide the framework and criteria for making operational decisions,implementing these decisions and monitoring and evaluating the implementation.
Strategic planning在实行过程中面临的挑战之一，就是如何使底层员工与管理层保持一致性。因此，管理层应该多和员工进行沟通和交流，让他们明白企业的计划和策略的目的。

Strategic stretch
Strategic stretch is concerned withencouraging leaders and managers to ‘think outside the box’ in developingalternative products and services, or exploiting new ways of operating toprovide existing products and services.

The strategic equation
所谓的公式，就是”Fitand Stretch”。企业的策略不仅要符合企业目前的内部情况（即Fit），也要可以适应外部环境的变化以便抓住新的机会（即Stretch）。

StrategicLeadership

不同的理论对leadership自然会有不同的解释：
Rational approach: leaders are defined and positioned as those who formulate strategyon the basis of careful analysis and planning;
Processual approach: leaders take on more of a creative and empowering role as thosewho craft a strategic vision and generate the support and commitment fromwithin the organization necessary to translate that vision into a reality.

Approaches to leadership styles
1)Traits: 这个理论强调的是领导者与生俱来的素质，what leaders have。这个理论的缺陷在于，它只考虑了造就一个成功领导者的小部分因素。
2)Behavioral style: 这个理论则强调领导者的行为，认为领导者是可以后天栽培的。它强调领导者行为对其追随者的影响。调查研究表明，领导者的行为大致可以分为两种：employee orientation 或者是 task orientation。
3)Situational approach: 简单地说，就是具体情况具体分析，没有一个固定的。
4)Transformational andtransactional approaches

Leadershipand Ethics

道德问题的产生，通常是因为领导者的权力过大。因此，道德问题和领导能力总是结合在一起讨论。在如今的环境下，企业不能一味地考虑利润的最大化。Where the focus is on profit driven companies, this is even morethan the case as there can sometimes be trade-offs between profit-maximizationand ethical considerations。

The classical view of ethics
经典理论自然是属于Friedman的企业利润最大化理论。他认为，企业应该为股东负责，利润最大化只能是企业唯一的目标。这个理论下，企业会在法律的约束下遵守法规，但是不会上升到道德的范畴。According to this argument, social responsibility and morality hasno place in the job description of leaders and managers。

The socioeconomic view of ethics
企业来源于社会、存在于社会中，因此，企业的领导者有责任和义务对社会负责。A key point to bear in mind is that social responsibility describesthe behavior of an organization that pursues long-term goals for the bettermentof society, goals that go beyond legal and economic imperatives。

 

CPA 105 Advanced Taxation (1/N)

Part A: The Tax Equation

Income tax = (taxable income * rate) – tax offsets

这里的tax offsets指的是rebates & credits，而不是deduction。因为tax offsets是直接对税金进行抵减，因此跟deduction相比，offsets更具有价值。

 

Part B: Assessable Income

Assessable income包括了ordinary income和statutory income。Figure 2.1列出了assessable income, ordinary income, statutory income, non-assessable non-exempt income和exempt income之间的关系。

Ordinary income

Section 6-5对ordinary income进行了解释。Section 6-5(4) provides that ordinary income is taken to have been derived by a taxpayer as soon as it is applied or dealt with in any way on the person’s behalf. 这就意味着，即使纳税人将自己的一部分收入无偿转让给其他人，这部分收入还是要上税的。

Statutory income

Subsection (2)对statutory income的解释很二百五，即：非ordinary income，但是属于assessable income的收入，属于statutory income。S. 6-25(2) states that the provisions regarding statutory income generally prevail over the rules about ordinary income.

Exempt income

Division 11列出了作为exempt income的例子。Section 11-1指出，属于ordinary income或者statutory income 范畴的exempt income可以被分成三种类型：

• Ordinary or statutory income of entities that are exempt no matter what type of ordinary or statutory income they have;

• Ordinary or statutory income that is exempt, no matter whose it is;

• Ordinary or statutory income that is exempt only if it is derived by certain entities.

作为statutory income，如果需要被豁免，则必须有法律上的规定。

在判定某一项收入是否获得豁免是非常重要的，因为之后会产生一系列的后果：

1)      It is not assessable and is therefore tax free;

2)      It may reduce the deduction allowable fore a tax loss;

3)      A loss or outgoing incurred in deriving the exempt income is not allowable deduction;

4)      The disposal of an asset used to produce exempt income does not give rise to a capital gain or loss.

Non-assessable non-exempt income

例子：1) where income derived during one tax year has to be repaid in a later tax year; 2) where trading stock is sold outside the ordinary course of business; 3) GST.

Ordinary income – some common law concepts

Ordinary income 包括三种类型：income from personal services, income from carrying on a business, and income from property。

材料列举了一系列的，在案例法下所确认的ordinary income的类型。这里面需要注意的是a person cannot derive income by dealing with her/himself。具体的事例就是一些俱乐部。俱乐部从会员那里所收取的费用不确认为俱乐部的营业收入，因为会员作为俱乐部的所有人之一，这些费用具有资本的性质。而那些由非会员所缴纳的费用，则可以作为收入确认。

Residence

Individuals

对于个人，residency的确认主要有三种方式，其中最重要的两种分别为：domicile test和183-day test。Domicile test一般用于判定离开澳洲的纳税人，而183-day test则用来来到澳洲的纳税人。

Companies

判断一家公司的residency，通常有两种方式：

1.       It is incorporated in Australia; or

2.       Although not incorporated in Australia it carries on business in Australia and has either:

• Its central management and control in Australia; or

• Its voting power controlled by shareholders who are residents of Australia.

比较常用的测试方式来自于案例 De Beers Consolidated Mines Ltd v. Howe [1906]：“I regard that as the true rule … the real business is carried on where the central management and control actually abides。”

需要注意的一点是，一家非澳洲注册的公司，即使它在澳洲有单纯的营业业务（mere trading），我们不能仅凭此判定这家公司是Australian resident。

在判断一家公司的核心管理在何处，法院不但会调查董事们在何处开会，还要考虑公司的日常营运的管理地点。

Derivation of Income

由于所需要缴纳的税金，取决于纳税人在纳税年度所获得的收入。因此，判断收入的时点是非常重要的。即：The issue of when income is derived is therefore crucial for determining when income will be taxed。案例FC of T v. Thorogood (1927)的判决指出：’derived’ is not necessarily ‘actually received’, but ordinarily that is the mode of derivation。

Cash or accruals basis

在决定税金的计算基础时，最高法院认为，公司应该采取最能够正确反映收入的方法。In Taxation Ruling TR 98/1, the Commissioner provides guidelines on which method will provide the correct basis on which to determine income。

Cash basis:

1)      if income derived by an employee;

2)      if income derived in a non-business activity in providing knowledge or skill.

Accrual basis:

1)      sale of trading stock;

2)      the use of circulating capital;

3)      the use of staff & equipment.

Installment sales

以分期付款方式而发生的销售收入，税法上按照商品销售出去并且已经运送的时点确认收入。由此而产生的利息收入，则分期确认为assessable income。案例J. Rowe &. FC of T 71 ATC 4001，法院认为：that the sale price was earned when the goods were sold and delivered regardless of when payment was due。

Income from property

源自于不动产的收入，一般采用Cash basis来确认收入的时点：Income from property, whether it be rent, royalties, interest or some other item, will no have the characteristics of income until it is paid and received。

Wage and salary earners

钱到手的时候上税，即使你的部分工资是支付你在前一个税务年度所提供的服务。

Amounts received in advance

The income was not taken to be derived until the service or goods had been supplied.

Long-term construction contracts

Taxation Ruling IT 2450上规定，有两种方式可以用来作为计算收入：the ‘basic approach’ 和 the ‘estimated profits method’。

Redirection of income

Section 6-5(4): In working out whether you have derived an amount of ordinary income, and (if so) when you derived it, you are taken to have received the amount as soon as it is applied or dealt with in any way on your behalf or as you direct.

Section 6-10(3): If an amount would be statutory income apart from the fact that you have not received it, it becomes statutory income as soon as it is applied or dealt with in any way on your behalf or as you direct.

材料列出了适用s 6-5(4)的两种情形：第一种情况，是salary sacrifice arrangement，当员工要求公司将其部分工资作为额外的superannuation；第二种情况，是员工要求公司将其本年度的部分工资延迟到下一年度发放。

 

Part C: Income From Business

一般情况下，ordinary income包括来自于经营收入（income from business）。因此，判定一个business的存在是必要的。判断一项业务组成的标准，以及获得收入的活动，都来自于common law。

Existence of a business

The actual existence of a business is a question of fact and degree. 材料中列举了一部分用来判断的因素，包括：the degree of system and organization used, scale of activities, repetitive transactions, profit factor, type of activity, and time。

Section 6-5 and income from business

税法上，对来自于经营收入的判定，基本上来自于s. 6-5以及common law的先例。在Scottish Australian Mining v. FC of T (1950)里，企业在单纯的收回投资项目时所产生的利润，不属于企业的营运收入。但是，这个先例所产生的影响，则被随后的案例所削弱。案例FC of T v. Whitfords Beach Pty Ltd 82 ATC 4031的判决，增加了将s. 6-5用于个别交易（isolated transactions）的可能性。

Isolated transactions

这部分里面，案例FC of T v. Myer Emporium Ltd的判决至关重要。It was observed that an amount received from an isolated business operation or commercial transaction whish is not entered into in the ordinary course of carrying on the taxpayer’s business will constitute assessable income where the taxpayer entered into the transaction with the intention or purpose of making a relevant profit or gain from the transaction。

Taxation Ruling TR 92/3采取了Myer Case的判决作为基础，规定，如果企业的某项个别交易同时满足一下两个特征的时候，该项交易所产生的利润属于企业的经营收入：

1）  the intention or purpose of the taxpayer in entering into the transaction was to make a profit or gain; and

2）  the transaction was entered into and the profit was made in the course of carrying on a business or carrying out a business operation or transaction.

该项规定还指出，获得利润并不一定要作为该项交易的主要目的。只要这个目的的重要性足够，那么所得利润就应作为经营收入。

Realization of investments

正常情况下，企业销售投资资产所获得的利润一般不被认为是经营收入。但是，如果企业的该项活动属于正常的经营活动范围，则该项利润属于企业的经营收入；反之，则属于资本收益。

Non-cash business benefits

案例FC of T v. Cooke and Sherden的判决导致了新法规s. 21A的产生，其将非现金收益划入了assessable income的范围内。

Section 21A规定：

• A non-cash benefit accruing as a result of business (not in respect of employment) is assessable even though it is not in a monetary form;

• The recipient of the benefit should include as assessable income the arm’s-length value of the benefit;

• Any limits or restrictions on the convertibility into cash are disregarded.

该规定也同时提出了几个特殊情况，在这些情况下，非现金所得则不需要划分为assessable income：

• Where the recipient of the benefit would have been able to claim a deduction for the benefit, if the cost had been incurred by the recipient, then the amount is not assessable;

• Where the cost of the benefit is not deductible to the person who provides the benefit, the amount is not assessable (entertainment expense);

• Where the value of the non-cash business benefits received by the taxpayer is less than $300 in the tax year.

材料后面提供的四个例子比较重要，从例子中就可以看书，s 21A的三个exceptions是很重要的。

 

Part D: Compensation

一般情况下，公司所获得赔偿金的性质，跟其所赔偿事项的性质保持一致（a compensation receipt takes the same character of the item which it replaces），代表案件为C of T v. Meeks (1915)。但是，在案例Glenboig Union Fireclay Co. Ltd v. IRC 1922的判决中表明，我们不能仅仅因为赔偿金是为了补偿收入损失而将赔偿金划归为经营收入的范畴。

Loss of profits and trading stock

Statutory provisions主要涵盖了这一部分的内容。Section 15-30 includes as income any compensation or amount received as indemnity for the loss of trading stock, and also includes as income amounts received by way of indemnity for the loss of profit or income.

案例Liftronic Pty Ltd v. FC of T的判决指出，虽然导致赔偿的事件对公司的声誉造成影响，但却没有从根本上损害公司的声誉或者其继续经营的能力，因此公司所获得赔偿应作为经营收入考虑。

Loss of contract

这里最重要的一点，是要衡量该合同的损失是否对公司整个经营能力产生根本的影响，或者仅仅是其在经营过程中可能遇到的合理风险。Where a taxpayer receives compensation for recision of a contract, it is necessary to determine whether the contract was an ordinary business contract or whether it was of a capital nature representing an important part of the business structure of the firm.

案例Van Den Bergh’s Ltd v. Clark (1935)：the Court held that where the loss of the contract severely disrupts or affects the firm’s underlying business structure, then the compensation may be of a capital nature。

案例Heavey Minerals Pty Ltd v. FC of T (1966)：the cancellation of the contracts did not affect the capital structure as it was still free to sell rutile if it could find a buyer。

Loss of agency

如果公司所获得赔偿金是由于代理权的损失，那么衡量该代理权对公司整个经营结构影响的大小是必须的。

案例Californian Oil Products (in liquidation) v. FC of T (1934)中：the loss of the agency effectively terminated the company’s business. As a result, the compensation received was of a capital nature.

案例Kelsall Parsons & Co. Ltd v. IRC (1938)和IRC v. Flemming & Co. (Machinery) Ltd (1951)： compensation for loss of an agency was held to be on revenue account since the loss did not relate to or affect the firm’s underlying business structure。

Restrictive covenants

案例Higgs v. Olivier (1952)打开了一个先例，如果公司因为签订了一份限制性合约而获得的赔偿金，则该赔偿金应作为capital的性质。The rationale being that deprivation of the right to work or to conduct business is of a capital account。

Summary of principles: Business compensation

• Where the business operation is terminated due to the cancellation of the agreement, the compensation is likely to be on capital account;

• If the taxpayer has entered into special arrangements to undertake the contract, the compensation will take the form of capital;

• A severe restriction of the business operations may also be of a capital nature;

• Where the contract is for a long period of time, it is more likely to be capital and the compensation for its loss of a capital nature.

Apportionment of compensation

在某些情况下，部分赔偿金的性质是属于经营收入，另外一部分则是属于资本性质。如果这两部分的金额可以被区分开来，那么：it is possible to effect an apportionment between the two so that the compensation received can be separated into an income and a capital component。但是，如果这两部分无法区分，那么整个赔偿金，则被视为资本性质。

 

Part E: Assessable Income – Statutory extension

Royalties

Section 6-5：where a royalty comes within the scope of ordinary income;

Section 15-20：has a residual operation and it will only include royalties outside of s. 6-5; essentially, this will include royalties which are of a capital nature.

在判断一项特许权收入是否assessable，我们也需要考虑该项特许权的来源。对来源的判断，通常情况下是基于权利产生的地点。

案例Murray v. ICI Ltd (1967)的判决所产生的影响需要了解，具体是：It seems that in determining whether an amount is a royalty under s. 6-5, it is necessary to determine what is being given up. If the amount received is related to the disposition of a capital asset, it will not be of an income nature, but the CGT provisions may apply.

Foreign exchange gains and losses （重点！）

Lecturer 强调了这一部分的重要性，主要是因为其有计算的内容。根据s.906-50的规定，企业账面的外币金额需要转化成澳币值，不管该金额是收入、费用、债务、应收帐目还是资产价值。S.960-50包含诺干有关于外币转换的专门规定，实际上就是对转换时点的规定（这部分需要了解，在考到相关问题的时候知道去哪里找）。

但是需要注意的是，如果企业的帐户全部或者绝大部分都是用外币进行计量，那么以上的专门规定是不适用的。Where this occurs, Subdivision 960D applies so that the net income of the entity can be translated into the Australian currency。相关的企业主要包括了：an Australian resident company which is required to prepare financial reports under s. 292, a permanent establishment, a controlled foreign company, an offshore banking unit and a transferor trust。

在外币转换过程中所产生的收益或者损失，不管其是一般收入或者是资本性质，这些损益都是assessable或者deductible。但是针对这个问题，在s. 775-15，s. 775-30以及s. 775-75(1)中都有特例情况，需要了解。

 

Part F: Trading Stock （非常重要！）

企业为了经营目的而购买的商品，其采购成本可以作为税收的抵减项。Section 70-1列举了三种可能的情况，分别为：

• You acquire an item of trading stock;

• You carry on a business and hold trading stock at the start or the end of the tax year;

• You dispose of an item of trading stock outside the ordinary course of business, or it ceases to be trading stock in certain other circumstances.

Definition of trading stock

S. 70-10对trading stock进行了定义，包括：

• Anything produced, manufactured or acquired that is held for purposes of manufacture, sale or exchange in the ordinary course of a business; and

• Live stock.

材料中列举了几项已经被案例法排除在trading stock范围外的商品，需要了解一下。

企业在购买商品时可能会有两种情况，一种情况下，商品直接是作为交易用的；另一种情况下，企业购买该资产的目的是为了生产交易商品。我们要能够对这两种情况进行区别。案例Coltness Iron Co. v. Black (1881)指出，公司购买的煤矿是一种资本性质的资产，而从这个煤矿中开采出来的煤，则是交易商品。

在某些情况下，虽然纳税人不拥有商品的法律所有权，这些商品也可能被认为是该纳税人的trading stock。案例Suttons Motors中，法院更注重其商业实质而非其legal form。It indicates that an item of merchandise may be trading stock even though the taxpayer does not own it, has no legal obligation to buy it, has incurred no financial commitment in respect of it, and merely holds it on behalf of another。

Trading stock on hand

Section 70-15 provides that a deduction is available under s. 8-1 on the purchase of trading stock:

• if the item becomes part of your trading stock on hand before or during the tax year in which you incur the outgoing, then it is deductible in that year; otherwise

• the amount is deductible in the first tax year during which the item becomes part of your trading stock on hand or for which an amount is included in your assessable income in connection with the disposal of the item.

这里，对于‘on hand’的理解是很重要。它并不是仅仅指纳税人拿到了商品，同时，纳税人还必须拥有了处置带商品的权利。

Assets that become trading stock

Section 70-30 (1) provides that at the time the asset becomes trading stock, the taxpayer is treated as if:

• just before the item became trading stock the taxpayer sold it to someone else at arm’s length. The taxpayer can elect the deemed sale value to be cost, or market value just before it became trading stock; and then

• the taxpayer immediately bought it back for the same amount.

Obsolete stock

The taxpayer may elect to write down the stock to a lower value as long as the value is reasonable.

Disposal of trading stock

1)      Not in the ordinary course of trading

如果商品的处置并非发生在正常的交易过程中，比如捐献、送礼等，那么：the taxpayer is assessable on the market value of the stock on the date of disposal。

2)      Notional disposal of trading stock

这部分说的是更换了所有权。Section 70-100(4)赋予了一项election，但是需要满足四项条件。

3)      Cease to hold item as trading stock (but still own it)

如果该种情况发生，那么税法假设，在该项商品变成非交易品之前，纳税人将其按照成本价格卖出后，又按照同样的金额买入。

Small business entities

Where the difference between the value of opening and closing stock is $5,000 or less, the taxpayer can choose not to value each item of trading stock at the year end, and not to account for changes in the value of trading stock.

 

CPA115 Financial Reporting (3/3)

MODULE SIX
Part A: IFRS 3 Business Combinations
企业合并包含有两种情况，一种是直接吸收被收购方的净资产（purchasing the net assets of anotherbusiness），另外一种是收购对方股份以达到并购的目的（acquiring the shares of anotherbusiness to obtain control over that entity）。 第一种情况下，企业只是吸收对方的资产和负债，不附带其他连带责任（比如说员工啊，税收啊之类的），所以，在处理这一项交易的时候，企业只需要将收购的资 产和负债直接并入自己的财务报表即可。第二种情况，企业则变成了被收购方的股东，需要对整个企业负责，因此在第二种情况下，收购方要制定合并报表。

The acquisition method

IFRS 3要求所有的business combination的交易都要使用acquisition method进行计量。这个方法有四个步骤：
– Identifying an acquirer;
– Determining the acquisition date;
– Recognising and measuring the identifiable assets acquired, the liabilities assumed and anynon-controlling interest in the acquire; and
– Recognising and measuring goodwill or a gain from a bargain purchase.

在第三个步骤中要注意measurement的要求。对于non-controlling interest来说，并购企业可以用1）fair value；或者2）the NCL’s proportionate share of theacquiree’s identifiable net assets。对于measurement来说，准则提供了一些特例，例如contingent liability，参看表格6.2。

这里，我们来看看计算goodwill或者gain from a bargain purchase的公式。

Goodwill =Consideration transferred + the amount of non-controlling interest + fair valueof any previously held equity interest in the acquiree – the fair value of theidentifiable net assets acquired

计算goodwill有两种方法，full goodwill或者partial goodwill。材料后面部分的例子都采用了partial goodwill的方法。Goodwill 的后续计量应当遵照：at the amount recognised at acquisition date less any accumulatedimpairment losses。Goodwill是不允许被摊销，并且要至少每年测试一次其是否存在减值。

任何与并购交易有关的费用，就要计入当期损益科目，除非这些费用是跟发行债券或者权益工具有关。

Deferred tax arising from a business combination

相关的合并资产和负债按照公允价值重新评估，企业在编制合并财务报表的时候应当按照该公允价值进行合并。因此，temporary differences arise when thetax base of the asset acquired or liability assumed is either not affected, oris affected differently, by the business combination。这些确认的DTA/DTL会影响goodwill或者gain from a bargain purchase。

Business combinations involving an investmentin a subsidiary

在这种情况下，首先，收购者在收购有效日时，在自己的账上计入一笔投资investment in a subsidiary；接下来，并购的identifiable net assets则按照并购日时候的公允价值计入；确认是否有递延所得税的影响；然后，产生的goodwill则作为合并分录计入。

Part B: IAS 27 Consolidated and Separate Financial Statements

The group
这一部分，主要关注怎么定义“control”，it is defined as ‘the power to govern the financial and operatingpolicies of an entity so as to obtain benefits from its activities’. 两个企业之间是否存在控制关系，决定于其实质而非形式。

另外一个需要注意的内容是special purpose entity。IAS 27规定，an SPE should be consolidated wherethe substance of the relationship indicates that the SPE is controlled by theother entity。

Preparation of consolidated financial statement

企业财务报表合并是一个较为复杂的过程，其中包括了各种调整，以及分离少数股东权益。合并报表的前两个步骤主要包含了三种调整。在初始阶段，企业需要调整母公司和子公司之间因会计政策、方法不同而产生的差异；在合并过程中，则需要调整母子公司之间的内部交易。

– Aggregating line by line, like items of assets, liabilities, equity, income & expense;
– Adjusting these combined figures for transactions between entities within the group;
– Adjusting for dissimilar accounting policies or reporting periods;
– Eliminating pre-acquisition equity balances;
– Eliminating the effect of all transactions between all entities within the group.

Revaluation of assets subject to depreciation

首先看一下IFRS 3的规定：adepreciable non-current asset has to be revalued to fair value at theacquisition date, further consolidation adjustments will have to be undertakenin subsequent reporting periods to adjust depreciation charges。

在合并日，被合并企业的资产，特别是固定资产，会按照市场价值进行重新的估值。对公允价值的调整，如果子公司没有在其账面上进行相应调整的时候，那么，在每一次合并报表的时候，对需要对相关资产的价值进行调整，包括所涉及到的折旧。The group will want to recognise aconsolidation depreciation expense based on the fair value of the non-currentassets。

Transactions within the group

根据IAS 37的规定，intragroupbalances, transactions, income and expenses shall be eliminated in full。合并财务报表上披露的所有交易、信息，必须是集团本身与外部机构之间的交易。集团内部交易主要包括有：intra-group sale of inventory,intra-group sale of depreciable asset, payment of dividend by subsidiary,intra-group interest, & intra-group provision of services。表格6.3 对这些交易做了概括的介绍。

个人认为，在做这些调整的时候，需要准确地判断，这些交易是否导致了集团未实现的利润（比如内部买卖存货/固定资产），或者由于内部交易而导致的余额（比如内部买卖导致的应收应付账款）。

另外，在调整内部交易的时候，还需要考虑递延所得税的问题。比如说，子公司按照 $ 20,000的价格卖给母公司一批存货，其成本为$10,000，在报表日，母公司仅对外卖出一半的存货。从集团整体的角度上看，剩余的存货余额应该按照子公司的成本价格进行计算，因此调整之后的存货余额降低。但是从税法的角度上看，人家才不管你是否实现，账上余额是多少就是多少。因此，这就产生了deductible temporary difference，因为税法余额要比账面余额高，于是调整之后多了deferred tax asset。假设税率为30%，调整分录如下：

Dr:Sales                                                   $ 20,000
Cr: Inventory                                                            $5,000
Cost of goods sold                                              $ 15,000

Dr Deferred tax asset                        $1,500
Cr: Income tax expense                                         $ 1,500

Non-controlling interest

IAS 27对non-controlling interest的定义是：the equity in a subsidiary notattributable, directly or indirectly, to a parent。在Equity concept下面，NCI被划分为权益而非负债。NCI should be measured as therespective proportionate interest in the equity of the subsidiary after making adjustments for unrealised profits and lossesof the subsidiary。在调整NCI的过程中，有三种调整需要注意，分别为：
– The pre-acquisition equity consolidation adjustment;
– Dividends paid by the subsidiary; and
– The measurement and disclosure of the non-controlling interests in the consolidated financial statements.

在考虑各种税的因素之后，因合并而产生的资产revaluation应确认为Business combination reserve。当母公司100%控制子公司的时候，全部的BCR在pre-acquisition elimination entry的时候被抵消。但是，当存在NCI的时候，合并抵消分录只抵消母公司的proportion，剩余的BCR是属于NCI。That is, at theacquisition date, the NCI is equal to their share of the subsidiary’s recordedequity plus their share of the BCR.

在确认NCI的时候，要考虑其在集团equity的share，而不是子公司账面上的equity。因此，在计算NCI的过程中必须要抵消未确认的利润或者损失。

1）First, as NCIs have an interest inthe group via the subsidiary, only intra-group transactions that affect thesubsidiary’s equity require adjustment (transactions from subsidiary toparent);

2）The second point to note is therequirement to understand which transactions lead to unrealised profits/lossesfrom the perspective of the group.

Part C: IAS 28 Investments in Associates

IAS 28主要用在对另一企业有重大影响的、非控制性的情况，使用equity method。跟acquisitionmethod相比，Investments in associates是一项on-line交易。企业只需要在报表中计入investment in associates一项，并不需要合并。

在equity method下面，被投资企业当期损益以及other comprehensive income的变动，都按照投资比例计入到投资企业的investment in associates的balance里面；投资企业收到的分红，则抵减investment的balance。

这个部分最重要的，就是知道投资企业和被投资企业之间的交易也需要抵消，the transactions between theassociate and investor should be eliminated。Where anassociate is equity-accounted for, unrealised profits and losses from both ‘upstream’and ‘downstream’ transactions between the investor and associate should beeliminated to the extent of the investor’s ownership interest in the associate。下面是需要follow的步骤：
– only transactions involving unrealised profits and losses require elimination;
– the tax effect of eliminating unrealised profits needs to be recognised;
– the elimination is in proportion to the investor’s ownership interest in the associate; and
– the elimination adjustments are limited to ‘investment in associates’ and ‘share ofprofits of associates’.

 

CPA115 Financial Reporting (2/3)

MODULE FIVE

Part A: What are financial instruments?

首先，必须搞清楚的是，什么是financialinstruments，怎么判断目标对象是financialinstruments。IAS 32的定义是：any contract that gives rise to a financial asset of one entity and a financial liability orequity instrument of another entity。Financial instruments 可以分类为primary financial instruments （比如：accounts receivable, accounts payable, loans and deposits）和 derivative financial instruments。

判断什么是Derivative financial instruments是一个重点。IAS 39 defines a derivative financial instrument as a financial instrument or other contract within the scope of this standard with all three of the following characteristics:
– its value changes in response to the change in a specified interest rate, financialinstrument price, commodity price, foreign exchange rate etc;
– it requires no initial net investment or an initial net investment that is small;
– it is settled at a future date.

打个比方，在一个期货交易的合同里面，如果交易双方在交割日的时候，由negative position的一方支付一个net amount给positive position的一方，那么这个就是derivative financial instrument。如果交割日，交易双方送货的送货，付款的付款，那么，这个交易就不能定义为derivative financial instrument。

衍生金融工具产生的原因主要有两个：1）to reduce the level of market risk of the entity transferring some orall of the risk to another party; 2) to take on market risk with a view to making profits from that risk taking activity。

Part B: Recognition, measurement andderecognition

Recognition

确认一项金融资产或者金融负债，首先，需要满足Framework中对资产和负债的定义。一般情况下，it is the signing of the contract that triggers recognition。

Measurement issues

1）Initial measurement
IAS 39规定，所有的金融资产和金融负债都按照其公允价值进行初始确认。For financial instruments that are not measured at fair value through profit or loss, the amount shall include transaction costs that are directly attributable to the acquisition or issue of the financial asset or financial liability。

2）Subsequent measurement of financial assets
IAS 39将金融资产划分为四大类，分别为：loans & receivables,held-to-maturity investments, financial assets at fair value through profit orloss, and available-for-sale financial assets。表格5.1列出了四种金融资产的后续确认原则，很重要，需要熟悉！

第一类：financial assets atfair value through profit or loss。一般划分为此类的金融资产，企业都是打算短期持有的，意图追求近期利益。企业按照其公允价值计量，持有过程中发生的公允价值变动直接计入当期损益。

第二类：loans and receivables。这一类的金融资产是最常见的，它们不可以被划分成at fair value through profit or loss或者available-for-sale。而后续的计量则是按照amortised cost进行，即loans and receivables are then carried in the statement of financialposition at amortised cost less any provision for impairment。

第三类：held-to-maturityinvestments。这一类金融资产一般为负债类金融资产，企业一般意图持有至到期日，即the entity intends to hold tomaturity and is able to do so。准则规定，被划分为此类的金融资产，不能再重新划分为其他三项。其后续计量也是按照amortised cost less any provision forimpairment。

第四类：available-for-salefinancial assets。这一类金融资产按照其公允价值进行后续的计量，而其公允价值变动则计入所有者权益中，而不是像at fair value through profit or loss一样，直接计入当期损益。

我将这四种金融资产，以及金融负债的初始计量、后续计量的差别整理在Excel表格中，大家可以去DOCS下载。

Reclassifications

Refer to Excel as well

企业在将held-to-maturity的金融资产重新划分或者在到期日之前出售，是会受到“处罚”的。IAS 39里面规定，if an entity sells or transfers more than an insignificant amount of investments classified as held-to-maturity, it is then precluded under paragraph 9 from classifying any of its financial assets as held-to-maturityfor two years。并且，企业剩余的held-to-maturity的资产，必须全部划分成available-for-sale。

Hedging

个人认为是这一章里面比较重点地部分。

Hedging是企业用来对冲风险而使用的金融工具。最常见的两种对冲风险包括利率风险和汇率风险。准则对该类金融工具的确定标准非常严格，在初始阶段：there must be formal documentation of the hedging relationship, the risk management objective, the relationship between specific transactions and the rational for the effectiveness of the hedge relationship。而且，这个effectiveness的测试必须要持续地进行。

在这里，了解什么是Hedge accounting是很重要的：where the principle is to recognise the changes in fair value of hedge instruments in the same period as the changes in fair value of the hedged position are recognised。要使用hedge accounting，最重要的前提，就是hedge instrument和hedged item必须互相match，否则，这个新的交易既不能够被划分成hedge accounting。

现在，我们来看看确认hedge accounting存在所必须同时满足的5个条件：
– formal documentation at the inception of the hedging relationship;
– the hedge is expected to be highly effective;
– where the hedge is of a forecast transaction, there is a high probability that itwill arise;
– the effectiveness of the hedge can be reliably measured; and
– the hedge can be assessed on a continuing basis.

IAS 39针对三种对冲关系，分别为：fair value hedges, cash flow hedges,and hedges of a net investment in a foreign entity。

1）Fair value hedges
定义：A fair value hedge is a hedge of theexposure to changes in the fair value of arecognised asset, liability or an unrecognised firm commitment to buy or sellresources, or to a portion of such an asset, liability or firm commitment.
Hedginginstrument按照其公允价值计量，其产生的变动直接计入当期损益；Hedged item的价值也相应地调整到公允价值，变动也计入当期损益。

2）Cash flow hedges
定义：A cash flow hedge is defined ashedging the exposure to variability in cash flows that is attributable to aparticular risk with a recognised asset or liability (such as all or somefuture interest payments on a variable rate debt).
Hedginginstrument的价值调整到其公允价值，有效对冲部分的变动应确认到所有者权益里面，而无效部分的变动则应立即计入到当期损益。

当预计的交易最终确定了一项资产或者负债的时候，原先记录在所有者权益里面的profit/loss则可以有两种处理方式：转入所引起的资产或者负债的成本中；或者在交易实现的同一时期里面转入当期损益。准则规定，企业一旦决定使用其中一种方法之后，就不可以更改。

3）Foreign currency denominated liability, which hedges an entity’s netinvestment in a foreign operation
这种类型的hedge是为了对冲企业在境外的投资资产。准则规定，exchange differences on a foreign currencydenominated liability that hedges a net investment in a foreign operation areto be recognised in comprehensive income.

重点记住如何判断hedge effectiveness的公式：
Changes inthe fair value or cash flows of the hedged item / changes in the fair value orcash flows of the hedging instrument
= 80% to 125%

Derecognition of financial assets and financialliabilities

金融资产的转移，经常涉及到企业是否真正转移了跟该资产相关的风险和权益。IAS 39主要从两个方面进行判断，分别为：risks & rewards of ownership。The critical issue is determining when atransfer meets the requirement of transferring substantially all the risks andrewards of ownership。重点就是在于substanceover form。当资产转移后，企业仍旧承担其大部分的未来风险，那么，sale实际上并没有发生。企业应当计入现金收入和新增负债两项交易。

Part C: Presentation issues

这部分就重点说说 compound financial instruments吧。Lecturer说这部分出计算题的可能性比较大。

所谓的compound financial instrument，就是结合了liability和equity特征的金融资产/负债，最常见的例子就是convertible notes。按照准则的要求，企业需要将这一类型资产/负债里面相应的liability和equity拆分开来，分别披露。IAS 32 requires entities to first measure the value of the liabilitycomponent, and the difference between the fair value of the instrument and theliability value is allocated to the equity component。

拿convertible notes作为例子：
计算其负债部分，其实就是持有者在未来可以收到的固定利息进行折现，现值的总和就是负债部分的价值；之后，权益部分就是notes价值与负债价值之间的差额。

 

CPA115 Financial Reporting (1/3)

MODULE ONE

刚刚发了CPA115第一周的PPT，是MODULE 1的NOTES，请查收，INBOX 没有看看JUNK，在没有PM我～

周六上了115的第一堂课，内容是module 1 The framework and its application in financial reporting。下面，将结合学校的notes (就是我email给大家的那一份)，大概说一下lecturer重点说的内容。

对于Module 1，大家主要注意选择题，因为大部分内容都是有关于概念。

Role of a framework of accounting and its limitations：这 部分比较可能出选择题。Framework的作用是为了：1）facilitate the consistency of accounting standards over time and 2) provide a basis for standard setters to respond to the demands of lobby groups。但是，在实际中，framework却存在不少的缺陷，包括经济社会人力个各方方面（p1.9），并且，在运用framework的时候仍 旧需要professional judgment，因此也就不可避免地与framework的第一个目的相矛盾。

Users and their information needs: General purpose financial statements的target users很多，从投资者到员工，但是由于各个报表使用者的目的不同，所要提供的信息也不同，因此financial report着重考虑investor的要求，因为investors assumed to be the target audience in regard to their information needs, as their needs would meet most of the needs of other users。

Objective of financial reporting: 学过accounting的同学估计对这个话题都不会陌生，to provide information about the financial position, performance and changes in financial position of an entity that is useful to a wide range of users in making economic decisions.

Who should prepare GPFRs: 这个内容很有可能出选择题，因为Framework silent on who should prepare financial reports。在澳洲，SAC 1对reporting entity进行了定义。

Underlying assumptions and qualitative characteristics： 选择题的可能性很大。framework 最基本的两个assumptions 就是：1）accrual basis and 2）going concern basis；而四个characteristics则分别 是：1）understandability；2）relevance；3）reliability；4）comparability。对于 understandability，要清楚并不能因为某项数据或者披露不容易被理解，不符合understandability，而放弃披露；而 relevance，要关注materiality；最重要的，要了解the trade-off between relevance and reliability。

Elements：这里的elements指的就是我们所熟知的assets, liabilities, equity, income, expense，大家一定要搞明白这五项的定义，尤其是asset和income，liability和expense之间的差别，因为以前的考试，经常 会对某个transaction进行描述，然后让你判断是应该记成asset还是income，据lecturer说，非常容易混乱！

Recognition criteria：如果一事项满足了前面某一element的定义，它还需要满足两个 criteria才能反映在企业的报表中，分别是：1）it is probable that any future economic benefit associated with the item will flow to or from the entity；2）the item has a cost or value that can be measured with reliability。否则，不进行确认或者只是作为披露项，即所谓的contingent。

Application of definition and recognition criteria：这部分就 是举了具体的例子，分别是lease (finance and operating)，revenue (construction contract — stage of completion)，sales of goods vs rendering services，主要也是选择题，大家要详细读书中的例题。

Measurement of elements：选择题

Application of measurements：这部分是module 1中最有可能出short answer的地方，因为包含了计算，而且还不好理解…… employee benefit和superannuation大家一定要完全理解例题，特别是superannuation里面，公司和super fund记录的不同，还有披露的内容。

MODULE TWO

CPA115 MODULE 2 NOTES, ILLUSTRATIVE GUIDANCE TO AASB101 & MODULE 2 IAS 8 POLICY ESTIMATE ERROR SUMMARY发出

这个章节针对财务报表中的几个主表和相关的披露展开的，包括Balance Sheet, Income Statement, Changes in Equity & Cash Flows。Lecturer强调过，需要特别关注的部分（很有可能出考题的地方）有：Accounting Policies, Estimates & Errors (IAS 8)（multiple choices），Events after the reporting period (IAS 10)（short answer），和 Cash flow 的计算。

Presentation of financial statements (IAS 1)

对整个财务报表进行了介绍和描述，在IAS 1里面并没有规定谁应该准备财务报表，而将这个留给了各个国家的法规。IAS 1 制定了七个必须遵循的considerations（可能出multiple choices的地方），分别为：

1）Fair presentation and compliance with IFRS

按照 IFRS 编制财务报表，IAS 1假设（presume）该财务报表 will result in fair presentation。这个并非强制性，如果你可以证明按照IFRS准则编制的财务报表并不能体现公司financial performance的true & fair，那么，IAS 1允许你偏离准则的规定，根据你认为true & fair 的方式披露，但是呢：
– This is an extremely case (which means seldom happening);
– IAS 1 requires detailed additional disclosures are in such circumstances outlining the reasons etc for the departure.

2）Going concern

公司在制定财务报表的时候都需要按照可持续经营为目的的基础进行编制，即公司预计在下一个财年企业将持续经营。如果企业预计在下一年度进行清算，那么，财务报表需要按照清算基础进行编制，即liquidation basis，并进行披露。

3）Accrual basis

除了现金流量表，财务报表里面的所有信息都要基于accrual basis进行编制和披露。

4）Materiality and Aggregation

一个企业的日常交易很多，财务报表只能给予重要性原则的基础上，对会影响使用者决策的信息进行披露。Items of a dissimilar nature or function must be presented separately unless they are immaterial。考虑重要性的时候，不仅要考虑the size，还需要考虑the nature。就像内部交易，不管金额大小，都要进行披露。

5）Offsetting

资产和负债，或者收入和费用，是不可相互抵消的，除非准则允许。

6）Comparative information

就是要有前期的比较数字。当你对当期的数字进行了reclassification，那么，前期的数字也需要进行相应的重新分类。如果对前期数字进行reclassification是不实际的（impractical），那么，企业需要披露原因以及可能造成的影响。

7）Consistency

企业使用的会计政策和方法需要保持一贯性，不可以随意地更改。The presentation and classification of items contained in the financial statements should only be changed when:
– ‘a significant change’ has occured in an entity’s operations or, after reviewing the entity’s financial statements, management is of the opinion that a change in accounting policy is necessary in order to show a more appropriate presentation or classification; or
– a change is required by an IFRS.

Accounting policies

企业必须对其所使用的会计政策进行披露，enable users to make allowance for differences in the financial results of different entities that are due to different accounting policies。

对于某项具体的交易，如果企业无法在 standards or IFRS interpretation里面找到相应的处理方法，那么 management should develop policies in a manner that ensures financial statements provide information that is: relevant & reliable。IAS 8 还提供了可用来参照的进行会计处理的sources的hierarchy，也就是说，你必须先从1找看看有没有相关的规定，没有的话就去看2，2也没有看 3的，以此类推……
1）requirements and guidance in Standards and Interpretations that deal with similar or related issues;
2）definitions, recognitions and measurement criteria in the IASB Framework;
3）recent compatible pronouncements of other standard-setting bodies that use a similar conceptual framework.

对于accounting policies的变更，lecturer要求给予高度的重视！企业只能在以下两种情况的时候才被允许变更其accounting policies：
– required by an IFRS; or
– the change will result in the provision of more relevant or reliable information about the financial position, financial performance or cash flows of the entity.
请看DOCS上面上传的文件：Module 2 IAS 8 Policy Estimate Error Summary.doc

Revision of accounting estimates and correction of errors

变更accounting estimates不需要进行追溯调整，因为变更会计估计是由于环境的变化而产生的，比如说资产的可使用年限。需要进行披露

而对于会计错误，那么retrospective adjustment则是必须的。

Events after the reporting period (IAS 10)

lecturer说这个地方可能出现short answers，给cases，让你分析这些情况下，是可调整的事项，非调整但要披露的事项，还是非调整非披露。

报表日后事项是发生在the end of the reporting period and the date the financials are authorised for issue need to occur。这个嘛，我觉得是会计都应该了解吧，俺就不累述了～～

Statement of comprehensive income

Comprehensive income 包括两个部分：income statement（即关于当期的利润）和 other comprehensive income（变动的收入或者费用，当不计入profit & loss的）。IAS 1 Para 7列出划入other comprehensive income的交易事项，需要了解。

另外，minimum line items 需要了解，可能出现选择题，即企业至少要在statement of comprehensive income里面披露的项。

关于changes in equity，financial position 就不详细讲了，没有什么难点，都是平时应该知道的东西～

Statement of Cash Flow (IAS 7)

IASB有单独的专门的IAS 7来规定cash flow，可见现金流量表的重要性。 最基本的，现金流量表有两种方式：direct method & indirect method。准则鼓励使用direct method，但并不是强制性的。现金流量表分为三种活动，分别为：operating activities，investing activities 和 financing activities。可以refer到notes去，列出比较常见的活动细项。这部分内容主要在于计算，比如说给你几个数据，让你计算当期的利润是多 少。举一个self assessment上面的例子。

The following information relates to the activities of Cashin Ltd. Income tax may be ignored.

Cash flows from operating activities                                             $ 720,000
Decrease in trade payables                                                              23,000
Decrease in inventory                                                                       11,500
Increase in trade receivables                                                            24,600
Cash proceeds from sale of plant (book value of $25,000)              14,000
Increase in allowance for doubtful debts                                             1,000

What is the profit for the period?（这里的解题过程是我自己的思路，给后面给的答案不一样，反正结果对了就行～）

看到这种题目，第一反应就是indirect method，因为indirect method是从净利润开始，逐步提出非现金流入/流出的影响，求出营运现金流量。为了方便自己的思路，我把net profit设成X，然后从net profit开始，考虑每一项对于现金流量带来的影响：
decrease in trade payables            说明付了钱了，现金流减少，从净利润中扣除               – 23,000
decrease in inventory                     存货减少，说明卖出商品，现金流增加                         + 11,500
increase in trade receivables         一部分收入是赊账来的，没有现金流入                          – 24,600
cash proceeds from sale of plant with book value of 25,000 因为账面价值是25,000，卖出金额为14,000，所以在利润表上是计入一个损失 （25,000-14,000）        +11,000
卖资产所得的现金属于investing activity，不计算在operating activity里面
increase in allowance for doubtful debts         allowance增加减少了净利润，但是没有实际的现金流影响      +1,000

综合：X – 23,000 + 11,500 – 24,600 + 11,000 + 1,000 = 720,000 =>净利润 X = $ 744,100

MODULE THREE

这个章节很容易啃，第一页数少，第二内容简单。最主要的就是搞清楚在什么情况下，要确认liability或者是provision；在什么情况 下，provision要确认在报表当中，或者仅仅只是披露在notes里面（contingent liability & contingent asset）。

在Framework对provision的定义里面，最重要的一个要素，就是 provision is the existence of a present obligation。另外一个要素，就是这个存在是具有不确定性的，the uncertainty of timing or amount。

IAS 37 的范围需要了解，是选择题的一个考点。IAS 37 applies to all provisions (and contingent liabilities and contingent assets) other than those:
1) resulting from executory contracts, except where the contract is onerous; and
2) covered by another standard.

Recognition of provisions

这部分主要讨论了如何确认provision，要确认一项provision，必须同时满足一下三个条件：

1）an entity has a present obligation (legal or constructive) as a result of a past event;
要满足present的要求，则管理层没有办法去选择避免这一项负债，即：the entity must have no realistic alternative to settling the obligation created by the event。这个负债可以是法律层面上的（被合同所约束），也可以是constructive obligation。所谓的constructive obligation，指的是企业基于过往的经验而预计即将产生的负债，比如有：habitually provide staff with bonus payments，or perform environmental remediation to a standard higher than that required by law。

2）probable outflow of economic benefits;
负债发生的可能性高于不会发生的可能性，即：this occurs when the outflow of resources or other event is more likely than not to occur。

3）reliable measurement.

IAS 37 —– Disclosure

没有什么好说的，很重要，但是没有什么技术型的东西，看了熟悉了就是了。

Specific applications

重要性指数用星号表示，越多重要性越强~

Restructuring (*****)
Definition in IAS 37: a programme that is planned and controlled by management, and materially changes either the scope of a business undertaken by an entity or the manner in which that business is conducted.
这部分最困难的地方，就是如何判断，何时该项provision需要被确认，那些预计的未来支出需要被确认。Restructuring provisions被分成两种类型：
1）provision for restructuring recognised other than as a part of an acquisition of an entity or operation
2）provision for restructuring recognised as a part of an acquisition of an entity or operation. 被合并企业的未来重建计划如果是有条件的、非必须的，那么这并不能被确认为 a present obligation of the acquiree。

Future operating losses (*)
预计的未来可能发生的运营损失是一定不可以继承provision，因为它从本质上与定义不符，不是 a present obligation。

Onerous contracts (***)
这种合同，专门指预计的合同收入少于合同不可避免的成本支出，并且金额重大。

Dividend (**)
只有在报表日之前宣布的、并经过股东大会确定的红利，才能作为provision，反映在财务报表中；在报表日之后的，则在notes中披露。

Decommissioning, restoration & similar liabilities (*****)
这种provision在矿产资源类公司比较常见，就是在矿产开发完之后，公司为了保护当地的环境，则需要花费大量的资金去恢复矿区，达到保护换进的目 的。这种费用由于中间的时间非常长（通常几十年），需要考虑time value。对于这种provision的后续处理，在IFRIC1里面有详细的规定，分为cost model和revaluation model。资料里面提供了两个例子，包括分录，必须要明白！重点重点！！

Contingent Assets & Contingent Liabilities

这两个部分，最重要的就是理解在什么情况下要分别确认成负债，provision，或者是contingent。Table 3.1和Table 3.2 非常清晰地列出了确认的条件，重点。

 

CPA104 Strategy Management Accounting (5/5)

CASE STUDY

对于case study这一章节，我不做跟前几章类似的总结，因为上传的note已经把整个case的故事情节做了非常系统的梗概。大家在读材料的时候，拿着Note进行对照，就可以把整个故事了解清楚。

我要做的，就是大概说一下故事情节中可能涉及到的前五章节的知识点。

Company background：这个部分我们要注意Terracotta这个公司的结构是比较多元化的，即diverse。公司有很多的regions，原因是由于其产品特性并不适合远距离的运输。

Clay products industry：这一部分介绍了整个clay行业的总体情况，主要的客户群体，产品结构特征等等。这里可能涉及产品生命周期的知识点，以及Five forces的分析等。在manufacturing processes里面，可能会有分析significant OH&S和环境问题的知识点。在competitors的部分，则可以结合generic strategies和value chain。

在Marcia报告部分，材料说了还要进行SWOT分析，但是不管是材料原文还是后面的问题都没有涉及，所以有可能会出现在考试中。

另外，材料中对于customerforce的内容很少提及，所以有可能会出现针对customer profitability analysis的问题。

 

CPA104 Strategy Management Accounting (4/5)

MODULE FIVE

Part A: Project Management Defined

材料里面介绍了‘项目’的六种特点，分别为：1) novelty/unique; 2) a high level of uncertainty; 3) focusing on a solution for a problem or satisfying some objective within a defined scope; 4)having a defined start and finish time; 5) consisting of related activities that often have operationally specific relationships; 6) using multiple resources that need coordination。

项目管理的定义是：project management is about planning, controlling and integrating resources and activities so that the objectives of the project can be achieved on time and within budget。项目管理还需要尝试着去预测所有可能发生的跟项目有关的不确定性/风险。

项目管理一共有四个步骤，分别为：

1) Project selection: 这一阶段主要是确定项目目标，成立项目小组，以及建立项目的可行性计划以及判断标准。项目最主要的目标可以分成specification, budget和completion三类。在进行项目选择的时候主要注意的是strategic fit（project的目标要跟企业的总体战略一致）和risk analysis。SMA 在项目管理中的主要责任，是辨别和量化风险，并且进行SWOT分析。

2) Project planning: 在计划阶段制定项目的具体细节，以及各个deliverables的截止时间，同时也要制定时刻表和预算表。计划阶段也可以分成五个关键领域，包括scheduling, optimizing cost & time, budgeting, performance measurement, and incentives。当以上各项完成以后，project sponsor会从新考虑项目的可行性，并决定继续还是放弃项目。

3) Project implementation, controland monitoring: 在implementation的阶段，项目的活动正式实施，监控（monitoring）这里起着很重要的作用。An important part of monitoring is the consideration of how the project’s progress compares to themilestones。项目经理需要了解spending variance和schedule variance。

4) Project completion: 当所有的deliverables和项目最终目标达成之后，项目结束。这时候，相关成员需要逐渐地推出项目，SMA则要对项目进行总结，吸取经验教训。

Organizational structures for projects

项目的组织形式取决于项目的目标和要求。材料主要介绍了六种形式的项目结构：project organizations, within the organization projects, joint ventures, collaborations, public private partnerships, and virtual projects。

Managing international projects

这个部分主要关注国际项目的特点，以及造成国际项目复杂的7个原因，包括：lack of control, different culture, different time zones, different currencies, different legal structures, political uncertainty, and project visibility.

Part B: Roles in project management

Project sponsor

Project sponsor为项目经理和项目组成员提供指导。这种指导包括了建立项目目标，项目优先权，以及项目组成员；负责处理与高层次stakeholders的关系；解决紧急的严重的事件。因此，project sponsor的角色一般只能由高层的人员担任，或者成立专门的委员会（committee）来担任。

如何界定project sponsor在项目管理中的职责范围，是比较困难的事情。It is important to ensure that the project manager and project teamare empowered to make relevant decisions and that there is no loss of authority through the involvement of the project sponsor.

Project manager

项目经理主要负责项目的运行和日常管理。项目经理要面临3种挑战：
1) Uncertainty: 一般企业都喜欢确定的东西，可惜项目的本质就是不确定性；
2) Schedules and budgets: 由于项目的不确定性，planning和target-setting需要重复的修改；
3) Authority: 虽然项目经理需要负责项目中发生的大小事务，但是很多时候项目经理却并未授予相应的权力。

作为一名项目经理需要具备的能力包括technical skills (process skills, project-specific skills)和interpersonal skills (communicationskills, problem-solving skills, insight, negotiation, conflict resolution, and leadership)。

As the distinction between many of thetechniques used in project management and those used in strategic management accounting start to disappear, the demarcation between the SMA’s and the project manager’s responsibilities has become increasingly ambiguous.

在项目管理中，SMA 的主要责任就是为项目决定和控制活动准备财务数据和非财务数据。

这部分有一个很有意思的地方，就是对于leader的定义。它强调了leader is someone who is able to inspire and motivate teammembers to get the job done，而不仅仅是拥有一个title的。总体意思就是说SMA在项目管理中所扮演的角色带有很大的领导者的成分，虽然他/她并没有这么一个title。

The project team

项目组一般有两种形式，分别为：
1) The task-force approach: 这种形式的项目组成员只负责项目的事情；

2) The matrix approach: 相反，这种项目组的成员由企业的原有员工组成，他们不仅要负责项目的事务，还要兼顾原来职位的事情。
Table 5.3列出了这两种形式的优势和劣势，是考点之一。One of the key difficulties encountered in putting together projectteams is that functional managers in organizations may not be keen on supplyingstaff for a project.

International project teams

与一般的项目组相比，国际项目组的不同之处在于collaboration, parallelism, changing requirements, 和semi-autonomous work。这部分的重点在于Table 5.4，怎样的个体特性可以保证国际项目组成功地完成目标。

Virtual project teams

A virtual project team is one in which theInternet, teleconferencing, video conferencing and other forms of electronic connection are used to facilitate the undertaking of a project. 其中心问题就是项目组的成员由于地理问题无法经常进行面对面的交流。因此，virtualproject team的主要挑战来自于：1）如何建立成员之间的相互信任；以及2）找到最好的交流方式。What making building trust harder in virtual teams is the lack of face-to-face communication。

Virtual team还面临的另一个问题就是对角色和责任的认定。

Project C: The SMA’s role in project selection

项目选择的阶段主要有四种主要的任务：strategic fit/analysis, stakeholder analysis, risk assessment和financial analysis。

Strategic analysis/fit（重要！！）

The strategic fit of any proposed projectto the objectives and strategy of an organization is the first project selection criterion. 项目的目标应该跟企业的总体目标一致，并且能够帮助企业达成最终的目的。

Stakeholder identification and assessment

一个项目的成功，在很大程度上取决于跟项目有关的stakeholder的满意程度。项目的stakeholder可以划分成两类，internal（top management, finance and accounting, functional management &project team members）和external（clients, regulators, competitors, suppliers, community and society & the environment）。

项目经理在作决定的时候往往面临着ethics问题，造成这种现象的原因主要有两个：
1) Project are unique。这意味着没有前人的经验可以借鉴。
2) Projects are often finite interms of time。项目在执行过程中所产生的道德问题可能在项目结束前根本来不及反映出来。

Risk assessment

风险评估是项目选择阶段的必要程序之一。风险评估包括risk identification, classification, prevention和monitoring。项目面临主要风险的分辨和分类需要在选择阶段完成。SMA需要掌握的技能包括计算项目的期望价值，以及估测风险发生的可能性。

对风险进行分类的目的，是为了考虑项目是否有运行的价值（too risky to implement?），或者是否在项目开始之前，对某项具体的风险进行分散。Figure 5.4很重要，需要了解哪些类型的风险需要受到重视。

Financial analysis

材料里面介绍的分析方法包括：NPV (project cost, future cash flows, estimated life, residual value & discountrate), IRR, PI, payback period, ROI, residual income。

Part D: The SMA’s role in project planning

在项目计划阶段的主要步骤包括：
– Describe the activities ortasks including required resources and responsibilities;
– Derive project budget and schedule from these plans;
– Decide on how to monitor;
– Plan for project’s termination.

Project scheduling

1) Gantt charts
Gantt charts 是最早的，也是最普遍使用，it shows planned and actual progress for project tasks against ahorizontal time scale。这种图表比较简单，容易理解，especially when expediting, sequencing and reallocating resources among different tasks。但它的缺点在于，无法显示出tasks之间的相互性以及识别critical paths。

2) Project evaluation and review technique (PERT) & Critical path method (CPM) （重点！！）
这两种方法都包括了在项目中planning& scheduling tasks，但PERT主要用于projectswith uncertain time durations，而CPM则关注与项目时间和成本之间的trade-off。
Expected time = (Optimistic time + 4*Mostlikely time + Pessimistic time) / 6
Time related uncertainty => VAR =((P-O)/6)2
确定criticalpath是这个部分的重点，基本是必考的！The critical path for a project is the path(s) that result(s) in the project critical time, that is, the longest time tocompletion. 这个定义说明的是，critical path也就是在PERT图表中所用时间最长的那个path，项目最起码要用这么多时间才能完成。
另外，理解什么是’slack’也很重要，slack可以帮助项目经理了解can an activity be delayed without impacting the critical path。

CPM 的关注点在于项目活动之间时间和成本的交换，也被称为’crash’，也就是说，项目组花更多的人力物力财力（即更多的成本）到某一活动上，缩短其完成时间，以达到按时完工避免penalty等结果。所以在决定是否crash的时候，项目组需要进行cost-benefit分析，看看这个crash是否值得。需要注意的是，在crash活动的时候，必须要crash在critical path上的活动，不然crash就没有意义，不会缩短项目完成的时间。We continue crashing critical-path activities one by one until the point where theadditional cost of crashing an activity equals the incremental savings.

Part E: The SMA’s role in project implementation, control and monitoring

Monitoring progress

Monitoring 的主要内容是cost, time 以及quality/specification。预算差异（budget variance）和排期差异（schedule variance）是SMA可以运用的两种控制工具。差异分析可以用来评估项目运行的成果，并且有助于重新修订预算和排期。

Monitoring costs

Keeping a separate record of committed costs for project purposes will ensure timely and useful information in project reports.

这部分最关键的是The earned value method: Time vs Cost。EV是用来同时比较项目成本和时间。这个方法的基础就是，将实际成本和预算成本之间的差异分成两部分：1）因为价格问题产生的差异，即spendingvariance；以及2）因为项目进度而产生的差异，即scheduling variance。公式如下：

Spending variance = EV – Actual cost (AC),Cost Performance Index (CPI) = EV / AC

Schedule variance = EV – Budget, SchedulePerformance Index (SPI) = EV / Budget

理解Figure 5.14。

Monitoring specification and quality

在项目管理中，qualities meeting the customer’s specification。在管理质量的过程中，除非有有效的performance management，不间断的监控以及质量保证，specification or quality may be traded off against cost or timeliness。

Quality costs主要有三种，分别为：1）外部成本（external cost），当客户发现产品不合格之后发生的费用（包括声誉损害），通常情况下这种成本是最昂贵的；2）内部成本（internal cost），进行quality control或者assurance process时候发现的质量问题后所产生的成本，产品还未到客户手中；3）预防成本（prevention cost），incurred inthe designing of an organization’s processes and activities so as to preventquality failure。

Risk management

Risk management不同于risk assessment。后者是发生在项目正式运行之前，而前者is about theon-going process of monitoring and managing the risks of the project while itis being implemented。好的风险管理包含四个方面：having the right project team, monitor known risks, monitor unknownrisks和establishcontingency responses。

Stakeholder management

Stakeholder管理是一个持续的过程，包括控制和影响stakeholder的预期。材料介绍了三个阶段，分别为：1) identify the stakeholders; 2) identify their interest; 3) assess your capability to satisfy their interests。

Part F: The SMA’s role in project completion and review

1) The completion decision: SMA要判断项目是否可以完成，或者在考虑cost-benefit之后将其在为完成状态下终止或者卖出；

2) Task list: 也叫做’punch list’，在项目正式结束前需要完成的一系列小任务；

3) Specification satisfaction consensus: 在项目结束时需要举行项目完成会议，向stakeholders说明项目结束并且达到预期的目标；

4) Stakeholder satisfaction assessment: 评估各个stakeholder的要求是否达到，在项目过程中所发生的问题和成果，这个过程是一个持续的过程，不能留到项目结束之后才进行；

5) Final closure: final budget,closing the cost records, and post-project expenditure；

6) Resource dispersion；

7) Final report

8) Knowledge management: 总结项目的成果和教训，为未来的项目吸取经验。

 

CPA104 Strategy Management Accounting (3/5)

MODULE FOUR

这一个章节，就是运用各种的概念和工具，去预测某一个项目的可行性。材料一共介绍了11种工具，分别为：
– Activity based costing
– Time driven activity based
– Target costing
– Reassessing allocation of indirect costs
– Business process management (BPM)
– Value chain analysis
– Supplier related costs
– Life-cycle costs of redesigning product
– Total quality management (TQM)
– Outsourcing
– Customer profitability analysis

文章中用一个企业的新项目为索引，将以上的11种工具串了起来，所谓的一环扣一环吧！

Activity-based costing

在使用ABC的时候，管理层需要对企业的各项活动有名确的了解，知道间接成本是由哪些生产活动所产生的。ABC gives a meaningful analysis of indirect costs, provides a relatively accurate allocation of overhead costs for products and, ultimately, supports decision-making on prices and profitability。相比传统的成本分配方法，ABC可以得到更为准确的成本分配。

ABC成本分配法主要考虑两种成本，分别为：short-term variable costs (volume of production) 和long-term variable costs (activity)。长期变动成本主要来自于企业生产活动的复杂性和多元化，而并非产量。The greater the variations in products that a company manufacturers, the more complex and diverse its support activities become and the greater the need for an ABC system。

ABC的运行步骤TABLE4.3主要包括：1) identify and cost activities; 2) determine and quantify cost drivers; 3) calculate the ABC transaction cost rate or allocation rate; 4) allocate costs on the basis of cost drivers; 5) calculate the unit cost。

Time-driven activity-based costing

TDABC 的出现是为了克服ABC方法过于复杂、成本过高的问题。TDABC 方法有两个步骤：
1) Identify all relevant organizational resourcesand calculate the total cost and capacity (measured in minutes) of eachresource;
2) For each unique type of activity carried out bythe organizational resource, the time taken to perform the activity isestimated.

这里需要注意的一点就是，idle time是要分配到productive time里面的。也就是在计算每一项活动的cost rate per minute的时候，分母里面的生产时间是包含有idle time的。

Target costing

企业要给一个新的产品定价，则需要考虑：specified market conditions, total costs of developing, manufacturing and supplying that particular product; and profit margin that will be obtained。Target costing主要关注市场可以接受的价格。它包括了产品生产周期过程中所产生的成本。

如果企业使用targetcosting，那么在上一个新产品项目的之前，需要完成以下5个步骤：
– Identify the target selling price for the product;
– Determine the profit margin;
– Determine the target cost;
– Determine if the product can be produced at orbelow the target cost;
– Compare the estimated cost determined in step 4with the target cost in step

3. 材料里面的例子，先用targetcosting对新产品的销售价格、毛利率、以及生产成本进行估算，结果是要想取得30%的毛利，企业的成本必须控制在$560以下，而预计的单位生产成本则达到了$ 750，差异为 $190。因此，之后的内容，就是用上面提到的各种方法，计算可能降低的成本或者可能提高的销售价格。

紧接着，材料里面用ABC成本分配方式代替了传统的成本分配方式，将单位生产成本降低了$25，达到了$725。

Strategic cost management

通常，如果想长久性的、有效的降低生产成本，企业需要对其生产价值链做一个仔细的分析，找到并减少甚至消除non-valueadding activities。SCM的基础是由两种不同类型的驱动因素（drivers）组成，分别为：structural cost drivers和executional cost drivers。Figure 4.2是一个判断减少生产成本的流程图，很重要！

Product life-cycle, target costing和kaizen costing是三种相互关联的SCM。

Product life-cycle

It is based on the idea that products or services passthrough a series of stages that comprise the ‘product’ life-cycle, with eachstage having major strategic and functional implications.

这里所指的’stage’包括：design, market entry,maturity, 和decline。需要注意的是，product life-cycle 的理论并不适用于commodity products，例如牛奶和铁矿。Life-cycle management将新产品是为一项投资，即在这个产品的整个生命周期里所产生的现金收入多与其在筹备和生产周期里所耗费的现金支出。在Figure4.4里可以看出，总成本里的85%-90%发生在项目投入前期阶段，包括product design, prototype manufacture和constructionof production facilities。

Target costing主要关注与生产前期的产品生命周期，保证最大程度提高产品的销售能力。而Kaizen costing则着重于产品的生产和销售，provides a more restricted opportunity for improving the cost performance of a product。

Kaizen costing

Kaizen costing is based on the concept of achievingincremental reductions in product costs through a program of small betterments.Kaizen costing想要取得的是不间断地降低成本。

Business process management

BPM描述的是管理层对企业的运营过程进行重大的改变，用来降低价值链上的成本。BP Mstarts from an organization’s strategic position and identifies how business processes can be designed under ideal conditions using the most advanced technology。

材料中的例子，对生产过程中的几项活动进行了改进，结果，所降低的成本，加上因为运用BPM所增加的成本，新产品的总成本降低了$1.5m。因此，单位成本降低到了$675。

Value chainanalysis

减少，或者是消除不创造价值的生产活动，是ABM的第二个重点。These non-value adding activities do no increase the attractiveness or sale ability of the products and, if eliminated, allow the organization to reduce its costs without affecting its revenue.

这里需要注意的是，为了消除或者减少非价值增值的活动时，企业会采用更为先进的技术或者更有效率的方法来达成，而这些是要产生成本的。因此，在此之前，企业要进行cost-benefit的测试，判断究竟是fully eliminated还是partially eliminated。见P4.47的例子。

Supplier related costs

跟供应商相关的成本，并不仅仅包括invoices上面的金额，我们还需要考虑其他隐性成本，包括：cost of purchasing, cost of delivery failure, cost of poor quality, and costs of holding inventory。

The supplier-related expenses are usually hidden in inbound logistics related overheads and, depending on the performance of a particular supplier, can be significant.

Global suppliers: 企业在使用海外供应商的时候，不能仅仅考虑采购成本的减少，还需要考虑可能产生的其他成本，比如说国际贸易产生的额外成本，政治风险，文化差异等等。并且，供应商的低价成本可能是由于其低标准的生产环境或者对劳动者的剥削。供应商的不道德行为也会对企业产生负面的影响。

Supplier codes ofconduct: 企业可以制定一套针对供应商的道德准则，并且进行适当的监督。

Supply chain disruptions:不管是境内还是国际供应，企业都会面临着供应链断裂的问题。Thegreater the risk of supply chain disruption and the longer the lead timebetween order placement and fulfillment, the greater the level of safety stockthe organization will hold.

Minimizing inventory levels: 能在多大程度上降低企业的存货量，主要取决于企业是否可以成功地运行JIT（just-in-time）管理理念。如果企业可以将其存货规模控制在一个最低的水平，那么企业将获得巨大的经济利益，比如说：manufacturing productivity, customer response time, and product quality。在企业内部的价值链中，多余的存货可以通过以下的几种方式来消除：1) adopting acellular manufacturing layout; 2) better control over material flows from aninbound logistics perspective; and 3) better management of material flows throughout the manufacturing process。

Vendor selection: 在选择供应商的时候，企业不仅要考虑货物的价格，还需要参考供应商过去和将来的供应情况。The senon-financial measures relating to a supplier’s delivery performance are important.

材料的例子在这一部分比较了企业的三个供应商所产生的直接和间接成本。结果，直接成本（invoice costs）最高的供应商Inne的supplier cost performance ratio反倒是最低的，为14.93%。公式为：
Supplier cost performance ration = supplier related cost /invoice costs
也就是说，企业向供应商Inne购买一刀的产品，所需要产生的间接费用为15分；而供应商Thyme则为23分。

Life-cycle costs of re-designing the product

这一部分说的是’value engineering’ approach。企业通过研究产品的设计过程和生产过程，而对其进行提高和改进。这里需要知道的是，优化生产过程是会产生费用的，所谓的’spending money to save money’，比如说企业提高产品成本来提高产品的质量，相对的客户的投诉成本和退货返修成本也就降低。并且，由于产品质量的提高，企业也可以在一定的范围内提高销售价格。

材料的例子在这里，对Solarheat1的某些设计和生产过程进行了改造，使得预计的单位成本降低至$603.11，并且将单位售价提高了$10，最后差异缩小到了$36.11。

Total quality management

TQM是指an organization will attempt to produce quality products in all its operations at a reasonable cost。’Doing it right the first time’和’zero defects’是企业质量控制的两个重要方面。成功运行质量控制系统可以帮助企业提高运行的有效性。

Juran 将控制质量的成本（prevention & appraisal）与因质量控制失败而产生的成本（internal & external）进行了区分。Shank & Govindarajan’s useful rule for assessing the interaction between the four categories of quality costs is that a $1 expenditure spent on prevention activities saves $10 in appraisal and internal and external failure costs. 管理层应当着重于控制质量成本，使得失败成本降低并且提高客户的满意度。

Outsourcing andoffshoring

Decisions about the source of goods or services will notonly be influenced by the relative costs of internal versus external supply,but also by differences in the level of quality, on-time delivery and after-sales service provided. 同时，企业在考虑是否外包，还需要了解 因为外包而产生的员工问题。一个部门的外包即意味该部门在企业内的解散，职员的辞退问题可能会使得社会对企业的道德问题产生质疑，并且对仍旧在任的员工产 生不好的影响。如果企业不能够妥善的解决外包而产生的员工问题，其将来可能导致的成本将是巨大的。

另一方面，strategic importance也是企业需要关心的，企业的核心部分是不可以外包的，请见Figure4.11的outsourcing decision pyramid。

Customer profitability analysis

了解企业客户的属性，衡量各个客户给企业带来的利益，决定了企业是否保留该客户，如果处理客户关系。评价主要客户的标准，并不是仅仅停留在客户购买量和订单量，还应该考虑因为处理客户关系所产生的一系列间接成本。While customer service has become a key tool for enhancing an organization’s competitive position as it battles for sales volume and profit margins, it comes at a cost。

某一客户为企业带来的利润率不仅仅受gross margin的影响，还涉及其他与customer service有关的成本。This is the net price (gross selling price less all sales discounts and other allowance) minus thecost of the goods supplied and all other customer related costs.

ABC成本分配方法是可以使用在这里，用来分配customer-related costs。Figure 4.13将客户分成了四种类别，分别为：
– Passive: product crucial to customer and goodmatch to supplier
– Costly to service: pay top prices
– Inexpensive to service: price sensitive and few special demand
– Aggressive: customer leverages buying power andlow price and highly customized specifications

 

CPA104 Strategy Management Accounting (2/5)

MODULE THREE
Part A: Context of performance measurement andcontrol
这一章节主要关注与三种performances，包括：individual performance, divisional or departmental or functionalperformance, and whole-of-organisation performance。这三个层次的成果是否取得，决定了企业是否可以达成其目标。

而Performance measurement主要有四种目的：
– To help management implement and monitor strategy;
– To support management decision-making;
– To motivate managers and other employees; and
– To communicate with, or signal to, stakeholders.

在考虑业绩评定的主要用途之前，我们需要搞清楚不同组织之间的相互关系，这些组织主要有：governance and accountability(conformance & performance), strategy management (interface between theexternal competitive environment & the organisation’s capabilities),
management control systems (interface betweenthe strategy of the organisation, its operations, and the organisation’sperformance), & organisational outcomes (tracked by performance measures).

1) Support decision-making

业绩评定的一个重要的角色就是帮助管理层做决定，即support decision-making。企业的decisions可以分成运营层面（operational）和决策层面（strategic）。于此有关的业绩评价指标可以有 market share, manufacturing capability,time-to-market, and competitors’ costs and prices。一般来说，决策层面的决定对企业时候长远的影响，是不能够轻易逆转的；另一方面，运营层面的决定则注重于短期，并且可以修改。

业绩评定中的variance analysis则为企业的planning & control，以及提供learningopportunities方面提供了重要的支持。Variance analysis的主要功能是找出预算和实际数字之间的差异，以及差异所产生的原因。

2) Motivating behaviour
Performance management helps managers to motivate employees to focus on organisationalgoals and to do their best for the organisation. 同时，由于评价机制的存在，一些不理想的行为也会变少。但也要注意的就是，设计上存在缺陷的业绩评定机制也会导致dysfunctional behaviour的产生。

3) Signalling

Signalling occurs when a measure is used to communicate information.

Part B: Characteristics of effectiveperformance measures

Performance measures包含了财务数据以及非财务数据。一般来说，单一的performance measure是不能满足所有的需求，也就是所谓的“on one-size fits all”。要取得有效的performance measures，需要满足几项条件：validity/accuracy, reliability, clarity, cost,timeliness, accessibility, controllability, gambling & manipulation,relevance。

分清楚什么是accuracy和precision是很重要的（P3.18），很多时候accuracy要比是否precision重要很多。关于controllability里面需要注意的是，用来评价某个体的数据必须是该个体可以控制的，即跟其相关的，在其控制之内的数据．另外gambling这里指的是管理层虽然用某种手段达到了、或者改变了performance measure的结果，但是他们的行为并不一定会给企业带来好处，例子有对returnon investment (ROI) 的使用。而manipulation则一般指违法违规的行为，通常表示fraud。

Part C:Benchmarking

Benchmarking is to compare your organisation’sactivities against a reference point. Benchmarking的作用，就是让企业提供现有的运营程序并且寻找更有效的方法。Benchmark来自三种来源，分别为：within your own organisation, an organisation in yourindustry, and another organisation outside of your industry。

Figure 3.4 列出了benchmarking process的六个步骤。只有当整个benchmarking的过程是不间断的、持续的，那么这个过程才会更有效率。因此，企业必须做到：1)monitor the results of their changed processes; 2) take further action asneeded; and 3) repeat the whole series of processes。

Deciding on performance measures

选择怎样的benchmarking measures取决于管理层所要做的决定类型。我们必须首先保证的，就是我们所比较的benchmark，是企业打算取得的目标。另一项重要的标准，是要保证我们可以找出形成差异的原因，并且制订出相应的策略。

Benchmarking partners

Benchmarking partners的来源是多种多样，主要包括了三大种类：internalbenchmarks, industry benchmarks, and external benchmarks。

一般而言，内部标准是最简单，却也是最无效的benchmarks。更普遍的情况是，企业用internalbenchmarking来评价内部部门或者员工的业绩，作为内部竞争的一种衡量。

企业更经常地，是使用同行业的平均数据或者是最佳数据作为benchmarks。

Obtaining benchmarking measures

如何获取benchmarks的数据是最困难的步骤之一。材料里面提供了三种方法获取数据。第一种是直接获取，如果数据方式企业的竞争对手，那么这种方法基本是不可能实现的。第二种方式，则是找竞争对手在其它地理区域的分部获取相关的数据。最后一种方式，则是通过咨询公司等间接获取，即所谓的secondary resource。

Problems with benchmarking

在使用benchmarking的过程中，会碰到不少问题，主要包括：

1. Participation of employees and benchmarking partners. 在实施benchmarking process 的过程，需要企业内部员工的配合。但是由于在具体数字比较的时候，特别是员工的performance低于平均水平时，员工可能就会有排斥的情绪，或者质疑benchmarks的可信度。

2. Benchmarking does not explain differences. There is a variation does not mean much withoutsome ongoing investigation.

3. Context. 这个问题来自于对比数据来源的不统一性。即使是在同一行业，各个企业仍旧有其不同之处，所统计出来的数据也会因为企业运营的差别而存在着不同的context，这就造成了making comparison and interpretation difficult。

4. Standardisation. One of the key issues is to ensure that the performance measures arestandardised.

5. Historical data.

Part D: Performance measures and balanced monitoringsystems

Kaplan 的balanced scorecard包含了四个方面，分别为：financialperspective, customer perspective, internal process perspective, and learning& growth perspective。BSC强调一个’balance’，传统的业绩评价方法都是强调企业的财务利润，而更为全面的分析方式则需要涵盖更为广泛的内容。

Lagging indicators 显示的是历史的、已发生的信息；而leading indicators则为未来提供了一个指引。因此，BSC需要包含lagging和leading的数据。

材料中主要介绍了三种scorecards，根据他们的主要用途和所涉及的stakeholders（重点）：

1）Key performance indicator (KPI)scorecards：KPI包含了大量的标准，包括可控制和不可控制的，其主要用于support & monitordecision-making。

2）Strategy scorecards：跟KPI相比，strategy scorecards的measures比较少，而且the measures tend to be interlinkedin a casual chain and should be controllable。主要用于制定目标（set target）和问责制（create accountability）。

3）Stakeholder scorecards：这一类型的scorecards主要关注于各个stakeholders的相关利益问题。一般用于signalling。

Implementing strategy

BSC是为了帮助管理层将企业策略付诸到行动中，the BSC communicates the strategy to managersand so improves their understanding and commitment。但是，为了达到这一目的，企业必须做到如下三点：
– Agree on a clear strategy;
– Define measures that are derived from this strategy;
– Set targets and make people responsible and accountable。

Strategy map

Strategy map的好处在于，它可以将企业的策略和其评价系统联系起来。A strategy map is a cause-and-effect chain of strategic objectives throughwhich the strategy will be implemented。

这里理解strategy map的重点，in constructing a strategy map, the top-level objectives and measuresneed to be supported by a set of subordinate objectives and measures。

Cascading measures

当企业的BSC是多层次的，管理层需要将企业最顶层的策略细分到每一个层面，即each organisational unit, or at theextreme, each employee, will have their own BSC。而每一低层面的BSC，必须和其上一层的BSC相互一致。三种分散的方式有：direct cascading, cascading by perspectives, andlogical thinking。三种方式里面，logical thinking可以最有效地将企业的策略和行动连接起来，但也是最复杂的一种方式。

Sustainability

Sustainability和CSR 都是企业发展中所要面临的重要问题，因此制定跟其有关的performance measurement和control是非常重要的。但是，根据2009年Moulang & Ferreira的研究，environmentalstrategies并没有很好地和企业的整体发展策略联系起来。This results in failure toincorporate environmental impact assessments into capital investments which leadsto problems with managing future cost structures。

首先，搞清楚什么是’sustainability’：it means living off the interest, and preserving the capital。在Porter的观点里面，CSR是关于如何将企业和社会结合在一起，取得对二者有共同利益的目标。

Part E: Organisational effects of performancemeasurement

Performance and reward systems

业绩评价的一种重要用途之一，就是去激励企业的员工。员工的performance涵盖了多个方面，包括motivation, skills & knowledge, andenvironmental factors。用公式表示为：

Performance= Motivation + Skills and Knowledge + Environment

1. Motivation
Motivationis the desire (goal direction) and drive (effort). 要注意的是，这里的goal direction应该是企业的目标而不是员工个人的目标。Robbins’ (1994)对motivation的定义为” organisational motivation isconditioned by the ability to satisfy some individual need”。员工付出努力追求实现企业目标的行为，是在为自身获取利益的前提下展开的。

那么，员工所追求的自身需求又是什么呢？下面的是跟motivation有关的三种理论：

Maslow’s hierarchy of needs

该理论按照从下到上的顺序，描述的人最基本的需求到高层次的自我认可：physiological security  social esteem self-actualisation。适当的motivation取决于当时的生活和社会环境和员工个人的情况。

Hertzberg’s hygiene and motivation factors

两种类型的需求：hygiene factors和motivation factors。

第一种hygiene factor指的是，这些需求的满足可以避免员工产生负面的情绪，但也不会激发员工取得更好的表现。这种Factors一般指：working conditions, relationship with the supervisor, salary, status andsecurity。

第二种motivation factor则指更高一层的需求，如：achievement, recognition, the work itself,responsibility and advancement。

Vroom’s expectancy theory of motivation

这里理论认为motivation是由两个部分组成，分别为：expectancy和instrumentality。而rewards也有两种类型，分别为intrinsic和extrinsic。根据这个理论，管理层需要对以下三点有清楚的认识：
– The performance measure with which they are being evaluated;
– How their behaviour can affect the measured performance variable; and
– How the achievement of performance targets relates to their individual reward.

2. Skills and knowledge

技术和知识是personal attributes of employees。即使员工有极大的热情，如果缺乏相关的或者足够的技术和知识，他/她仍旧不能取得满意的成绩。It is important to ensure that measurableskills and knowledge are directly linked to the desired performance outcomesand, in turn, to the articulated strategic goals of the organisation。

3. Environment

External environment:外部环境一般是指不受个体控制的环境。

Internal functionalenvironment: 一般指跟企业实现目标策略相关的过程和企业结构。Internal control may have a largeinfluence on performance and limit the control that the individual has on theresult。

Internal socialenvironment: 指的是企业内部管理文化是否公平，管理的风格，以及企业组织的氛围。

4. Rewards

要创造一个更好的performance-focused 的企业内部环境，有效的reward systems是必不可少的。Good performance needs to be measured in a waythat reinforces the key strategic and operational priorities of theorganisation。

对于管理层，比较主要的extrinsic rewards包括了cash-based plans和equity-basedplans；而对于相对低层的员工，奖励的方式则多种多样，包括：gainsharing, piece-rate systems,labour cost-related plan, and bonus systems。

如何将rewards和performance有效地连接起来，取决于timing和individual versus group rewards两个方面。