USCPA考点解析：Analytical procedures

Content:

　　有一个ratio题目，给出各种情况判断对ratio影响，ratio有三个，其

　　中两个题目提供，一个没有提供各种situation判断ratio变化（具体ratio公式竟然题目提供）

　　考点解析：

　　liquidity ratios :

　　acid-test ratio/quick ratio： quick assets/current liability

　　quick assets=current assets-inventory-prepaid amount

　　cash ratio=(cash + marketable securities)/current liability

　　current ratio=current asset/current liability

　　solvency ratio

　　debt-to-equity ratio=debt/equity

　　debt-to-asset ratio=debt/asset

　　TIE ratio (times interest earned ratio) = EBIT (earnings before income tax and interests) / interest expense

　　activity ratio

　　inventory turnover ratio=COGS/average inventory

　　average inventory=(期初存货+期末存货)/2

　　AR turnover ratio=sales/average AR

　　average AR计算与average inventory类似，这里的AR是减去坏账的

　　AP turnover ratio=purchases/average AP

　　days sales in AR/inventory=365/AR(或者inventory） turnover ratio

　　days purchases in AP同理

　　Sample Question

　　The accounts receivable turnover ratio increased during 2013. This is consistent with:

　　A. Items shipped on consignment during December were recorded as credit sales; no cash receipts have yet been received on these consignments.

　　B. The company increased credit sales by 10% by allowing more lenient credit terms—30 days are now allowed whereas previously only 20 days were allowed.

　　C. A major credit sale on which title passed as of December 31, 2013 was recorded in January of 2014.

　　D. Sales for each month are approximately 25% higher than those of the preceding year.阿