Learn or revise key terms and concepts for your ACCA exams using OpenTuition interactive ACCA Flashcards
ACCA flashcards are interactive and only work on line, flashcards are NOT downloadable/printable
See also ACCA F2 flashcards: Set 2 | Set 3 | Set 4
What is the definition of the Internal Rate of Return (IRR)?
The IRR is the rate of interest at which the Net Present Value of the project is zero.
Define the labour production volume ratio (activity ratio)
The labour production volume ratio = expected hours to produce actual output / total hours available (budgeted) x 100%
What are the purposes of costing (i.e. calculating the cost of producing a product or service)?
To enable a selling price to be set
To calculate a profit per unit
To value inventory
If the linear equation y = a + bx, were to be drawn on a graph, what would be the gradient of the line?
The gradient of the line would be ‘b’.
In the linear equation y = a + bx, where y is the total cost and x is the total production, what is the fixed cost?
The fixed cost is ‘a’ in the equation
When sampling, what is meant by a ‘sampling frame’?
A sampling frame is a numbered list of all items in a population
What is a ‘semi-variable cost’?
A semi-variable cost is a combination of variable and fixed costs.
What does the sales volume variance measure?
The sales volume variance measures the effect on the budgeted profit of the difference between the actual sales volume and the budgeted sales volume.
What is meant by a ‘line of best fit’?
The line that most nearly goes through all the points when the data is plotted on a graph.
How is the Residual Income (RI) calculated?
RI = profit less notional interest on the capital invested
What is the purpose of management accounting?
To help management run the business in a way that achieves the objectives of the business.
In the linear equation y = a + bx, where y is the total cost and x is the total production, what is the variable cost per unit?
The variable cost per unit is ‘b’ in the equation
What is top-down budgeting?
Top-down budgeting is where the budgets are prepared by high-level management and then communicated to lower levels.
Lower level management do not participate in the budget process.
Define the labour idle time ratio
Idle time ratio = idle hours / total hours x 100%
Describe a ‘pie chart’?
A pie chart is a circle that is divided into segments representing each type of observation. The size of each segment is proportional to the proportion of the total that are within each type of observation.
A Paasche price index number uses base year or current year quantities. Which?
A Paasche index number uses current year quantities.
In process costing, what is meant by an abnormal gain?
An abnormal gain is the amount by which the actual loss is less than the normal (or expected) loss.
In the linear equation y = a + bx, which is the dependent variable?
The dependent variable is y
What is meant by ‘quota sampling’?
The population is stratified and a sample of each strata is restricted to a fixed number.
What is meant by ‘indirect costs (or overheads)’?
Indirect costs are those costs which cannot be specifically identified with a specific cost unit or cost centre.
In process costing, how are abnormal losses or gains valued?
Abnormal gains and losses are valued at full cost per unit.
If we have an equation relating the total sales revenue to the total advertising spend, which would be the dependent variable?
The dependent variable would be the sales revenue (it depends on the amount of advertising expenditure.)
OpenTuition we students can’t thank you enough, you are really helping!!!
when i click on ans question is also not available why?
Ur not a real user
If you click on the question then you get the answer. If you click on the answer then you get the question again.
If that does not work for you then it is a problem at your end. Try another browser.
which other browse?
Google chrome
other cards they dont give the ans please help
try another browser. flashcards work fine
I need mobile version !!
Hi, Compliments to the author!
helpful
Admin, when I click on the answers on the flash cards some of them are blank. Why?
No idea why, you don’t even mention what device / browser you ate using ..,
As always you should Try another browser and see if it works
simple and on point
nice notes for FI and F2..we are waiting for f3.
no flash cards for F3
for some flashcards,when i click on the view answers i finf it blank..why so?can sm1 plz help?
yhm, strange, try another browser.
@admin, its stil same
@2ishanisah, sorry, but they work OK from this end. and I can’t replicate your problem,
it;s either your internet connection, but more likely software on your PC or settings that prevent it,..
in the past i used to access video lectures online. this nolonger works for me now, what happened?
I don’t know why/ please check support page for help.
ps. flashcards – are not videos
very usefull, thks very much xxx <3
its more usefull for quick revision…………..
quick reminder
Good snap shot of this paper content
Fantastic! Helped me to pass, please roll out for all papers
thats very great i went through all the staff. also can ask for f3
Very helpfull,great idea !!
really helpful.. hope gonna have for f3 soon.
Its a quick memory reminder thanks
This is brilliant, went through all the notes today and they were quite helpful. hope we get something for F1 and F3 soon….Thumbs up guys…..
You have F1 Mock exam and tests on the website
this is great for a quick review!
Please introduce these for F3 also
This is helpful,
thanks
this is really when u gonna introduce for f3 and others
awesome
THIS IS SO HELPFUL, THANK YOU