"Financial Report"：Financial Statement Analysis: Applications

來源: 正保會計網(wǎng)校編輯：小鞠橘桔 2020/10/09 09:17:56　字體：大小

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Questions 1:

The best description of a classified statement of financial position is one that:

A、 is supported by note disclosures relevant to understanding its components.

B、 distinguishes between current and non-current assets and liabilities.

C 、has not been audited.

Questions 2:

A credit analyst considers selected ratios calculated for three companies:

Financial Report：Financial Statement Analysis: Applications

Based on the information given, which company is most likely to receive the highest credit rating?

A 、Company C

B 、Company A

C 、Company B

View answer resolution

【Answer to question 1】B

【analysis】

B is correct. Classified statements of financial position distinguish between current and non-current assets and liabilities. Classified statements are required under International Financial Reporting Standards unless a liquidity-based presentation provides more relevant and reliable information.

A is incorrect. Note disclosures are required under IFRS, but do not constitute classification on the face of the balance sheet.

C is incorrect. Classified is not a type of audit report.

【Answer to question 2】B

【analysis】

B is correct. Company A has the highest EBITDA/Average assets and the lowest Debt/ EBITDA. It is likely to receive the highest credit rating since these measures suggest it is best able to repay debt. Inventory turnover does not measure debt paying ability.

A is incorrect. Company C is less able to repay its debt based on its lower EBITDA/ Average Assets and its higher Debt/EBITDA.

C is incorrect. Company B is less able to repay its debt based on its lower EBITDA/ Average Assets and its higher Debt/EBITDA.

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