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OpenTuition | ACCA | CIMA
Free ACCA and CIMA on line courses | Free ACCA, CIMA, FIA Notes, Lectures, Tests and Forums
OpenTuition | ACCA | CIMA
Free ACCA and CIMA on line courses | Free ACCA, CIMA, FIA Notes, Lectures, Tests and Forums
Hallo,I have a question on labour turnover ratio. What do we look there…the number itself of employees left the organisation or the number of worker that joined after some had left for avoidable reasons.I am now confused there, may you kindly sir.
It is the number who left and were replaced.
Let me give you two examples:
Suppose a company started the year with 10 employees. During the year 3 left. At the end of the year they had 12 employees. That means that they must have employed 5 new people. Of these 5, 3 were leavers who were replaced (the other 2 were new people and are not relevant for the formula).
Another. Suppose they started the year with 10 employees. During the year 3 left. At the end of the year they had 8 employees. That means they employed 1 new person and that 1 person replaced 1 of the leavers.
alright thanks much,i understand now.
You are welcome 🙂
Hi John
In the efficiency ratio – are the expected hours the same as standard & budgeted ?
They are the standard hours for the actual production.
Thank you John
Are the formulaes given during the exam
The formulae given the exam are printed at the beginning of our free lecture notes. However these do not include the formulae for labour – these you have to learn.
sir
where i can get more practice questions?
It is essential that you buy a Revision Kit from one of the ACCA approved publishers (BPP and Kaplan). They are full of exam-standard question to practice and practice is vital for passing the exam.
sir
which one is the chapter of discounts?
Discounts are examined in Paper FA. They are not a specific topic in Paper MA.
mr.moffat in which chapter are the bonus schemes explained
Chapter 18 (although there is little explain because there is no such thing as a standard bonus scheme – anything in the exam is following the instructions given in the question).
sir in timework can u please explain the meaning of paid at time and half .I cannot understand it
Suppose the normal rate of pay is $10 per hour.
If they are paid time and a half for overtime work, then they are paid $10 + (1/2 x $10) = $15 per hour.
hi Mr. Moffat,
I am confused about when you said while calculating overtime premium (OP): ‘if it wasn’t over time’.
we are paying 30$ which is overtime. but 5@4 = 20 that would be basic element in that overtime and rest is OP?.
The overtime is paid at the rate of $30 per hour (i.e. 1.5 x $20).
The normal rate is $20 per hour, so the overtime premium (i.e. the extra being paid) is $10 per hour.
Will the ratios be available during the exam or do we have to learn?
You have to learn!
Thanks 🙂
You are welcome 🙂