"Financial Report":Earnings management

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來源: 正保會(huì)計(jì)網(wǎng)校編輯：小鞠橘桔 2021/03/05 09:23:48　字體：大小

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Questions 1:

Which of the following is lowest in quality on the spectrum of GAAP conforming financial reports?

A、 Aggressive accounting choices

B 、Earnings management

C 、Conservative accounting choices

Questions 2:

Which of the following techniques is most likely to provide a company with the opportunity to inflate earnings?

A、Reductions in the useful lives of fixed assets

B 、Last-in, first-out (LIFO) liquidation

C、 Increases to tax asset valuation allowances

View answer resolution

【Answer to question 1】B

【analysis】

B is correct. Earnings management represents deliberate actions to influence reported earnings and their interpretation. The distinction between earnings management and biased choices is subtle and, primarily, a matter of intent.

A is incorrect because aggressive accounting is a biased choice. Biased accounting choices are higher in quality than earnings management on the spectrum of GAAP conforming financial reports.

C is incorrect because conservative accounting is a biased choice. Biased accounting choices are higher in quality than earnings management on the spectrum of GAAP conforming financial reports.

【Answer to question 2】B

【analysis】

B is correct. The LIFO liquidation of low-cost inventory layers results in the transfer of low inventory costs to the income statement as costs of goods sold. With reduced costs of goods sold, reported earnings are higher.

A is incorrect. Reducing the useful lives of fixed assets results in faster depreciation, and hence higher reported depreciation expense and lower reported earnings.

C is incorrect. Increases to tax asset valuation allowances are equivalent to asset write-downs, which reduce reported earnings.

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