题目

A company has the following summarised income statements for two consecutive years. 



Although the net profit margin (net profit/sales) is the same for both years at 10%, the gross profit margin is not. 



Is this good or bad for the business? 


Chapter16私营机构的表现评估

An increased profit margin must be good because this indicates a wider gap between selling price and cost of sales. Given that the net profit ratio has stayed the same in the second year, however, expenses must be rising. In Year 1 expenses were 30% of turnover, whereas in Year 2 they were 35% of turnover. This indicates that administration, selling and distribution expenses or interest costs require tight control. 

Percentage analysis of profit between year 1 and year 2  

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多做几道

What objectives might the following not for profit organisations have? 

(a) An army                                                (d) A political party 

(b) A local council                                     (e) A college 

(c) A charity 

One of the objectives of a local government body could be 'to provide adequate street lighting throughout the area'. 

(a) How could the 'adequacy' of street lighting be measured? 

(b) Assume that other objectives are to improve road safety in the area and to reduce crime. How much does 'adequate' street lighting contribute to each of these aims? 

(c) What is an excessive amount of money to pay for adequately lit streets, improved road safety and reduced crime? How much is too little? 

What general objectives of non profit seeking organisations are being described in each of the following? 

(a) Maximising what is offered 

(b) Satisfying the wants of staff and volunteers 

(c) Equivalent to profit maximisation 

(d) Matching capacity available 

A division with capital employed of $400,000 currently earns an ROI of 22%. It can make an additional investment of $50,000 for a five year life with nil residual value. The average net profit from this investment would be $12,000 after depreciation. The division's cost of capital is 14%. 

What are the residual incomes before and after the investment? 

The transfer pricing system operated by a divisional company has the potential to make a significant contribution towards the achievement of corporate financial objectives. 

Required 

Explain the potential benefits of operating a transfer pricing system within a divisionalised company. 

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