📚 A-Level CIE Accounting: Quick Reference to Key Formulas and Ratios | A-Level CIE 会计：公式定理速查手册
This handbook compiles the essential formulas and ratios every A-Level CIE Accounting student needs to master. From liquidity analysis to investment appraisal, the following sections group key calculations with concise explanations, enabling rapid revision and deep understanding of how figures are derived and interpreted.
这本手册汇集了每位 A-Level CIE 会计学生必须掌握的核心公式和比率。从流动性分析到投资评估，以下各节按主题整理关键计算并附简明解释，帮助快速复习并深入理解数字的推导与解读方式。
1. Liquidity Ratios | 流动比率
Liquidity ratios assess a business's ability to meet its short‑term obligations using current assets. The two most commonly examined are Current Ratio and Quick Ratio (Acid Test).
流动比率评估企业用流动资产偿还短期债务的能力。考试中最常见的两个指标是流动比率和速动比率（酸性测试）。
- Current Ratio = Current Assets ÷ Current Liabilities
- 流动比率 = 流动资产 ÷ 流动负债
- Quick Ratio = (Current Assets – Inventory) ÷ Current Liabilities
- 速动比率 = （流动资产 – 存货）÷ 流动负债
A current ratio much below 1 indicates possible cash flow problems; a very high ratio may suggest inefficient use of resources. The quick ratio excludes inventory as it is the least liquid current asset.
流动比率远低于 1 表明可能存在现金流问题；比率过高则可能意味着资源使用效率低下。速动比率剔除存货，因为它是流动性最差的流动资产。
2. Profitability Ratios | 盈利比率
Profitability ratios measure how effectively a business generates profit from its sales, assets and capital. Key formulas include Gross Profit Margin, Operating Profit Margin, and Return on Capital Employed (ROCE).
盈利比率衡量企业从销售、资产和资本中创造利润的效率。关键公式包括毛利率、营业利润率和已用资本回报率 (ROCE)。
- Gross Profit Margin = (Gross Profit ÷ Revenue) × 100%
- 毛利率 = （毛利润 ÷ 营业收入）× 100%
- Operating Profit Margin = (Operating Profit ÷ Revenue) × 100%
- 营业利润率 = （营业利润 ÷ 营业收入）× 100%
- ROCE = (Operating Profit ÷ Capital Employed) × 100%
- 已用资本回报率 = （营业利润 ÷ 已用资本）× 100%
- Capital Employed = Total Assets – Current Liabilities (or Equity + Non‑current Liabilities)
- 已用资本 = 总资产 – 流动负债（或 股权 + 非流动负债）
ROCE is particularly important as it shows the return generated on every dollar of long‑term funding. A rising margin suggests improving cost control or pricing power.
ROCE 尤其重要，因为它显示每一元长期资金所创造的回报。利润率上升通常意味着成本控制或定价能力的改善。
3. Efficiency / Activity Ratios | 效率比率
Efficiency ratios reveal how well a business uses its assets and manages its trade payables and receivables. Inventory turnover, receivables days and payables days are the core metrics.
效率比率揭示企业使用资产和管理应付账款、应收账款的效率。存货周转率、应收账款周转天数和应付账款周转天数是核心指标。
- Inventory Turnover (times) = Cost of Sales ÷ Average Inventory
- 存货周转率（次数） = 销售成本 ÷ 平均存货
- Inventory Turnover (days) = (Average Inventory ÷ Cost of Sales) × 365
- 存货周转天数 = （平均存货 ÷ 销售成本）× 365
- Trade Receivables Days = (Trade Receivables ÷ Credit Sales) × 365
- 应收账款周转天数 = （应收账款 ÷ 赊销收入）× 365
- Trade Payables Days = (Trade Payables ÷ Credit Purchases) × 365
- 应付账款周转天数 = （应付账款 ÷ 赊购额）× 365
Shorter receivables days indicate strong credit control; longer payables days may reflect good supplier terms but can damage relationships. Inventory days should be as low as possible without risking stock‑outs.
应收账款周转天数短说明信贷控制有力；应付账款周转天数长可能反映良好的供应商条款，但可能损害关系。存货周转天数应在不影响脱销风险的前提下尽可能低。
4. Gearing / Leverage Ratios | 杠杆比率
Gearing measures the proportion of a company's capital that comes from borrowing. It highlights financial risk and long‑term stability. The two main formulas are the gearing ratio and the interest cover ratio.
杠杆比率衡量企业资本中来自借款的比例，反映财务风险和长期稳定性。两个主要公式是资产负债率和利息保障倍数。
- Gearing Ratio = (Non‑current Liabilities ÷ Capital Employed) × 100%
- 资产负债率 = （非流动负债 ÷ 已用资本）× 100%
- Alternative: Debt-to-Equity Ratio = Non‑current Liabilities ÷ Total Equity
- 另一种形式：产权比率 = 非流动负债 ÷ 总权益
- Interest Cover = Operating Profit ÷ Finance Costs
- 利息保障倍数 = 营业利润 ÷ 财务费用
A gearing ratio above 50% is often considered highly geared, increasing sensitivity to interest rate changes. Interest cover below 2 may signal difficulty in meeting interest payments.
资产负债率超过 50% 通常被视为高杠杆，增大了对利率变动的敏感性。利息保障倍数低于 2 可能意味着难以支付利息。
5. Investor / Stock Market Ratios | 投资者比率
For limited companies, market‑based ratios help shareholders assess returns. Earnings per share (EPS), Price/Earnings (P/E) ratio, and Dividend Yield are the most frequently tested.
对于有限公司，市场比率帮助股东评估回报。每股收益 (EPS)、市盈率 (P/E) 和股息率是考试中最常见的。
- Earnings per Share (EPS) = (Profit after Tax – Preference Dividends) ÷ Number of Ordinary Shares
- 每股收益 (EPS) = （税后利润 – 优先股股息）÷ 普通股股数
- Price/Earnings (P/E) Ratio = Market Price per Share ÷ EPS
- 市盈率 (P/E) = 每股市价 ÷ 每股收益
- Dividend Yield = (Dividend per Share ÷ Market Price per Share) × 100%
- 股息率 = （每股股息 ÷ 每股市价）× 100%
- Dividend Cover = Profit after Tax and Preference Dividends ÷ Total Ordinary Dividends
- 股息保障倍数 = 税后利润扣除优先股股息 ÷ 普通股股息总额
A high P/E ratio can indicate growth expectations or overvaluation. Dividend yield is important for income‑focused investors, while dividend cover shows sustainability.
高市盈率可能表明增长预期或高估。股息率对注重收入的投资者很重要，而股息保障倍数显示股息的可持续性。
6. Cost-Volume-Profit (CVP) Analysis | 本量利分析
CVP analysis examines how costs and profit change with sales volume. Core formulas involve contribution, break‑even point, and margin of safety.
本量利分析研究成本和利润如何随销售量变化。核心公式涉及边际贡献、盈亏平衡点和安全边际。
- Contribution per Unit = Selling Price per Unit – Variable Cost per Unit
- 单位边际贡献 = 单位售价 – 单位变动成本
- Total Contribution = Total Sales Revenue – Total Variable Costs
- 总边际贡献 = 总销售收入 – 总变动成本
- Break‑even Point (units) = Total Fixed Costs ÷ Contribution per Unit
- 盈亏平衡点（数量） = 总固定成本 ÷ 单位边际贡献
- Break‑even Point (revenue) = Total Fixed Costs ÷ (Contribution per Unit ÷ Selling Price) or = Total Fixed Costs ÷ C/S Ratio
- 盈亏平衡点（金额） = 总固定成本 ÷ (单位边际贡献 ÷ 售价） 或 = 总固定成本 ÷ 边际贡献率
- Margin of Safety (units) = Actual Sales units – Break‑even Sales units
- 安全边际（数量） = 实际销量 – 盈亏平衡销量
- Target Profit (units) = (Fixed Costs + Target Profit) ÷ Contribution per Unit
- 目标利润所需销量 = （固定成本 + 目标利润）÷ 单位边际贡献
C/S Ratio (contribution to sales ratio) = Contribution ÷ Sales × 100%. These tools support decision making on pricing, special orders and cost structure.
边际贡献率 = 边际贡献 ÷ 销售收入 × 100%。这些工具有助于定价、特殊订单和成本结构决策。
7. Budgeting and Variance Formulas | 预算与差异公式
Budgetary control involves comparing actual results with flexed budgets. Variances are classified as favourable (F) or adverse (A). Core formulas cover sales, materials, labour and variable overheads.
预算控制涉及将实际结果与弹性预算进行比较。差异分为有利差异 (F) 和不利差异 (A)。核心公式涵盖销售、材料、人工和变动制造费用。
- Sales Volume Variance = (Actual Qty – Budgeted Qty) × Standard Profit per Unit
- 销售数量差异 = （实际数量 – 预算数量）× 单位标准利润
- Sales Price Variance = (Actual Price – Standard Price) × Actual Quantity Sold
- 销售价格差异 = （实际价格 – 标准价格）× 实际销售数量
- Direct Material Price Variance = (Standard Price – Actual Price) × Actual Quantity Purchased
- 直接材料价格差异 = （标准价格 – 实际价格）× 实际采购量
- Direct Material Usage Variance = (Standard Quantity for Actual Output – Actual Quantity) × Standard Price
- 直接材料用量差异 = （实际产量的标准用量 – 实际用量）× 标准价格
- Direct Labour Rate Variance = (Standard Rate – Actual Rate) × Actual Hours
- 直接人工工资率差异 = （标准费率 – 实际费率）× 实际工时
- Direct Labour Efficiency Variance = (Standard Hours for Actual Output – Actual Hours) × Standard Rate
- 直接人工效率差异 = （实际产量的标准工时 – 实际工时）× 标准费率
A flexed budget adjusts the original budget to the actual level of activity, making comparisons meaningful. All variances should be analysed for possible corrective actions.
弹性预算将原预算调整为实际业务量水平，使比较有意义。所有差异均应分析，以采取可能的纠正措施。
8. Investment Appraisal: Payback & ARR | 投资评估：回收期与会计收益率
Investment appraisal techniques help evaluate long‑term projects. Payback period and Accounting Rate of Return (ARR) are non‑discounted methods, quick to calculate and understand.
投资评估技术有助于评估长期项目。回收期和会计收益率 (ARR) 是非折现方法，计算和理解快捷。
- Payback Period = Initial Investment ÷ Annual Net Cash Inflow (if even cash flows)
- 回收期 = 初始投资 ÷ 年净现金流入（若现金流均匀）
- For uneven cash flows, cumulate until the initial outlay is recovered.
- 若现金流不均匀，则逐年累计直至收回初始支出。
- ARR = (Average Annual Profit ÷ Initial Investment) × 100%
- 会计收益率 = （平均年利润 ÷ 初始投资）× 100%
- Or ARR = (Average Annual Profit ÷ Average Investment) × 100% where Average Investment = (Initial Cost + Scrap Value) ÷ 2
- 或 ARR = （平均年利润 ÷ 平均投资额）× 100%，其中平均投资额 = （初始成本 + 残值）÷ 2
Payback ignores the time value of money and post‑payback cash flows, but is useful for liquidity‑sensitive projects. ARR uses accounting profit but also ignores timing.
回收期忽略货币时间价值和回收后的现金流，但对流动性敏感的项目有用。ARR 使用会计利润，但也忽略了时间因素。
9. Investment Appraisal: NPV & IRR | 投资评估：净现值与内部收益率
Discounted cash flow methods consider the time value of money. Net Present Value (NPV) and Internal Rate of Return (IRR) provide better decision‑making frameworks.
折现现金流方法考虑货币时间价值。净现值 (NPV) 和内部收益率 (IRR) 提供了更好的决策框架。
- NPV = Σ [Net Cash Flowₙ × Discount Factorₙ] – Initial Investment
- 净现值 = Σ [第 n 年净现金流 × 折现系数ₙ] – 初始投资
- Discount Factor = 1 ÷ (1 + r)ⁿ, where r = cost of capital, n = year
- 折现系数 = 1 ÷ (1 + r)ⁿ，其中 r = 资本成本，n = 年份
- IRR is the discount rate at which NPV = 0. Approximated by linear interpolation:
- IRR 是使 NPV = 0 的折现率。通过线性插值近似计算：
- IRR ≈ A% + [NPV_A ÷ (NPV_A – NPV_B)] × (B% – A%)
- IRR ≈ A% + [NPV_A ÷ (NPV_A – NPV_B)] × (B% – A%)，其中 A% 给出正 NPV，B% 给出负 NPV。
Accept projects with positive NPV or IRR greater than cost of capital. NPV is generally preferred for mutually exclusive projects.
接受 NPV 为正或 IRR 大于资本成本的项目。对于互斥项目，通常优先采用 NPV。
10. Inventory Valuation and Depreciation | 存货估值与折旧公式
Correct valuation of inventory and non‑current assets is vital for accurate financial statements. The two main inventory methods under IAS 2 are FIFO and AVCO. Depreciation methods include straight‑line and reducing balance.
正确计量存货和非流动资产对准确编制财务报表至关重要。根据 IAS 2，存货主要方法有先进先出 (FIFO) 和加权平均成本法 (AVCO)。折旧方法包括直线法和余额递减法。
- Closing Inventory under FIFO: most recent purchases assumed unsold.
- FIFO 期末存货：假定未售出的是最近购入的货物。
- AVCO per unit = Total Cost of Inventory Available ÷ Total Units Available
- 加权平均单位成本 = 可供销售存货总成本 ÷ 可供销售总数量
- Straight‑line Depreciation = (Cost – Residual Value) ÷ Useful Life
- 直线折旧 = （成本 – 残值）÷ 使用寿命
- Reducing Balance Depreciation = Net Book Value × Depreciation Rate%
- 余额递减折旧 = 账面净值 × 折旧率%
- If a machine costs $10,000 with 20% reducing balance, Year 1 depreciation = $10,000 × 20% = $2,000.
- 若机器成本 10,000 美元，按 20% 余额递减，第一年折旧 = 10,000 × 20% = 2,000 美元。
Revaluation model and impairment are other key concepts, but the formulaic base starts here. Lower of cost and net realisable value (NRV) applies to inventory.
重估价模式和减值也是重要概念，但公式基础由此开始。存货应按成本与可变现净值 (NRV) 孰低计量。
11. Partnership and Company Accounts | 合伙与公司会计基础公式
Partnership and limited company structures require distinct accounting treatments. Key formulas cover appropriation of profit, interest on drawings, and rights issues or bonus shares.
合伙企业和有限公司结构需要不同的会计处理。核心公式包括利润分配、提款利息、配股或红股等。
- Interest on Drawings (Partnership) = Drawings × Interest Rate × (months outstanding ÷ 12)
- 提款利息（合伙） = 提款额 × 利率 × （未还月数 ÷ 12）
- Profit Share after appropriation = Residual Profit ÷ number of partners as per ratio
- 分配后利润份额 = 剩余利润 ÷ 按比例分配
- sue Price = (Market value of existing shares + new cash raised) ÷ Total shares after issue (theoretical ex‑rights price)
- 配股理论除权价 = （现有股票市值 + 新筹现金）÷ 配股后总股数
- Bonus Shares: ; : no change in total equity; only reserves are capitalised. Number of bonus shares = (Existing shares × bonus ratio).
- 红股：总权益不变；仅将储备转为资本。红股数量 = （现有股数 × 送股比例）。
In company accounts, the retained earnings note and statement of changes in equity tie together dividends, issues and profit for the year.
在公司账目中，留存收益附注和权益变动表将股息、股票发行和年度利润联系在一起。
12. Consolidated Financial Statements Basics | 合并报表基础公式
When a parent acquires a subsidiary, consolidated accounts must eliminate inter‑company transactions and calculate goodwill and non‑controlling interest (NCI).
当母公司收购子公司时，合并报表须消除公司间交易，计算商誉和非控制性权益 (NCI)。
- Goodwill = Consideration Transferred + NCI at Acquisition – Fair Value of Net Assets Acquired
- 商誉 = 转移的对价 + 收购日 NCI – 被收购可辨认净资产的公允价值
- Non‑controlling Interest at reporting date = NCI at acquisition + NCI share of post‑acquisition retained earnings
- 报告日非控制性权益 = 收购日 NCI + NCI 享有的收购后留存收益份额
- Consolidated Retained Earnings = Parent’s RE + Parent’s share of subsidiary’s post‑acquisition RE – any impairment of goodwill
- 合并留存收益 = 母公司 RE + 母公司享有的子公司收购后 RE 份额 – 商誉减值（若有）
- Intra‑group sales, unrealised profit in inventory and intra‑group dividends must be fully eliminated.
- 集团内部销售、存货中的未实现利润和内部股利必须完全抵销。
These formulas are the bedrock of CIE Accounting Paper 2 and Paper 3 consolidation tasks. Practice applying them to different shareholding percentages.
这些公式是 CIE 会计卷二和卷三合并报表题的基石。针对不同持股比例进行练习至关重要。
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