财务报告与分析中章节的设置是循序渐进、逐层深入的,前面介绍的术语在后面还会有详细的解释与探讨。
由于财务报告与分析本身自立体系,它是上市公司和报表使用人之间沟通交流的语言,所以学起来与外语学习有几分相似。
财务报告与分析一共分为四大部分
第一部分是扫盲阶段,主要介绍财务术语、体系等基本知识。
在此基础上,第二部分更深入地讲解财务报表编制以及财务报表分析的方法
进一步地,第三部分针对存在利润操纵空间的重点科目做详细、深入的讨论
最后,第四部分是前面三部分内容的综合应用
四大部分在考试中占比最大的是第二部分和第三部分,大概占财报分析所有题目的80%以上。其次是第一部分,占比10%左右。
由于第四部分是财务分析的综合应用,不太适合一级的出题形式,所以出题比例相对比较少,大概占5%左右
cfa
CFA财务报表分析练习题"Financial Report":Operating cash flow

Questions 1:

The following information(in millions)on a company is available:
Financial Report:Operating cash flow
The amount of cash(in millions)that the company paid to its suppliers is closest to:
A、$505.
B、$495.
C、$445.
【Answer to question 1】B
【analysis】
B is correct.
Financial Report:Operating cash flow
A is incorrect.Decrease in inventory treated as an increase and decrease in AP treated as decrease in cash flow:500+30–25=505.
C is incorrect.Decrease in accounts payable treated as a reduction rather than an increase in cash flow:500–30–25=445.

Questions 2:

Compared with its net income,a mature company’s operating cash flow is most likely:
A、the same.
B、lower.
C、higher.
【Answer to question 2】C
【analysis】
C is correct.For a mature company,because net income includes non-cash expenses(depreciation and amortization),operating cash flow typically exceeds net income.A
is incorrect.For a mature company,net income includes non-cash expenses(depreciation and amortization),so it is expected and desirable for operating cash flow to exceed net income,not for them to be equal.
B is incorrect.For a mature company,net income includes non-cash expenses(depreciation and amortization),so it is expected and desirable for operating cash flow exceeds net income.If operating cash flows were lower than net income,this would be an indication of poor earnings quality.
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