ACCA/CAT

The Accounting Rateof Return

The information provided by AICO plcisbasedonhy pothetical cashflows.

This informatio nisinsufficient forestablishing the ARR of thetwomodels;

therefore it will be necessary tocalculate theannual depreciation figures for thetwomachines. Toarriveat theannual accounting profits will necessitateadeductionfromeach year,snetcashinflows,theannualdepreciationfigure.

Supermodel

Depreciationperannum =Costlessscrapvalue

Lifeofmachine

=￡500,000less20,000

6

=￡80,000perannum

Deluxemodel

Depreciationperannum =￡800,000less80,000

6

=￡120,000perannum

Nowthatwehavecalculatedtheannualdepreciationforeachmachine,

letusestablishtheannualaccountingprofitorlossforeachmachine.

Supermodel

Year Cashinflow less Depreciation =AccountingProfit/(Loss)

1 250,000 ? 80,000 =170,000

2 100,000 ? 80,000 =20,000

3 100,000 ? 80,000 =20,000

4 50,000 ? 80,000 =(30,000)

5 150,000 ? 80,000 =70,000

6 100,000 ? 80,000 =20,000

Totalaccountingprofit 270,000

Thereforetheaverageaccountingprofit =￡270,000

_______

6

=￡45,000

AverageCapitalEmployed =￡500,000+20,000

2

=￡260,000

ARR =45,000x100

260,000

=17?30%

DeluxeModel

Year Cashinflow less Depreciation =AccountingProfit/(Loss)

1 150,000 120,000 =30,000

2 200,000 120,000 =80,000

3 250,000 120,000 =130,000

4 100,000 120,000 =(20,000)

5 100,000 120,000 =(20,000)

6 250,000 120,000 =130,000

Totalaccountingprofits 330,000

Averageaccountingprofit =￡330,000

6

=￡55,000

Averagecapitalemployed =￡800,000+80,000

2

=￡440,000

ThereforeARR =￡55,000x100

￡440,000

=12?50%

UsingARR,clearlythesupermodelwitha17?30% will berecommende dinstead of the deluxemodel, which hasalowerrate of returnof12?50%

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