導(dǎo)讀：每次考試結(jié)束ACCA考官都會(huì)依據(jù)本次考試考生的總體體現(xiàn)狀況寫(xiě)陳述，具體分析學(xué)生在答題過(guò)程中呈現(xiàn)的問(wèn)題，總結(jié)學(xué)生在備考該門(mén)類(lèi)時(shí)大概留意的事項(xiàng)，高頓網(wǎng)校的小編為大家整理了F9考官陳述：
　　Question One （b）
　　Candidates were asked here to calculate the before-tax return on capital employed （ROCE） of the investment project on an average investment basis and to discuss briefly its financial acceptability. Many candidates did not gain full marks here because they were not sure of how to calculate ROCE for investment appraisal purposes. The definition of ROCE in this case is average annual accounting profit as a percentage of average annual investment. Since the NPV *uation was in cash flow terms, accounting profit had to be calculated by subtracting depreciation from investment project cash flows, a point overlooked by some candidates. Some candidates were also not aware that average annual accounting profit, rather than total accounting profit, was needed. Some candidates incorrectly chose to calculate internal rate of return （IRR）， perhaps because they were confusing ROCE with IRR. It is also possible that this error was partly due to the fact that both ROCE and IRR are relative measures of investment worth.
 
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