财务报表是一级二级的考试重点，内容涉及三大会计报表，现金流量测控，养老会计、管理会计、税收规避FACC等会计术语，考试难度不大，并且现在的考核方式更加灵活。一级二级中财务报表是重点科目，占比考试20%左右的权重，权重较大。
 
　　CFA课程知识点之财务报表要素
 
　　Financial Statement Elements 掌握U.S. GAAP 和IFRS 的区别：
 
　　R4-6-1 US GAPP: Assets，Liabilities，Equity or Net Assets，Investments by owners，Distributions to owners，Comprehensive income，Revenues，Expenses，Gains，Losses
 
　　R4-6-2 IFRS: Assets、Liabilities、Equity or Net Assets、Revenues，Expenses
 
　　知识点对应的试题如下：
 
　　R4-6 Financial Statement Elements 的理解
 
　　Q4-47  Assume U.S. GAAP applies unless otherwise noted. Which of the following is least likelyto be classified as a financial statement element?
 
　　A. Revenue
 
　　B. Liability
 
　　C. Net income
 
　　Solution: C
 
　　Net income is not an element of the financial statements, but the net result of revenues lessexpenses. The elements are: assets, liabilities, owners’ equity, revenue and expenses.
 
　　Q4-48 Which of the following principle requires faithful representation of the effects oftransactions in accordance with the standards without material errors?
 
　　A. Fair presentation
 
　　B. Materiality
 
　　C. Consistency
 
　　Solution: B
 
　　Materiality means that the financial statements should be free of misstatements or omissions that
 
　　could influence the decisions of users of financial statements.
 
　　Q4-49Which of the following is not a requirement to recognize revenues under US GAAP?
 
　　A. Price is determinable
 
　　B. Goods have been delivered to clients
 
　　C. Cost can be estimated reliably
 
　　Solution: C
 
　　Cost can be estimated reliably is the principal made by IFRS. And four criteria to determine
 
　　whether revenue should be recognized in GAAP is :
 
　　◆There is evidence of an arrangement between the buyer and seller.
 
　　◆The product has been delivered or the service has been rendered.
 
　　◆The price is determined or determinable.
 
　　◆The seller is reasonably sure of collecting money.
 
　　Q4-50  Which of the following is the collection of all business transactions in an accountingsystem sorted by date?
 
　　A. General ledger
 
　　B. General Journal
 
　　C. Trial balance
 
　　Solution: B
 
　　General Journal is sorted by date. General ledger is sorted by account.
 
　　Q4-51 For a nonfinancial firm, are depreciation expense and interest expense included orexcluded from operating expenses in the income statement?
 
　　Depreciation expense      Interest expense
 
　　A.      Included                Included
 
　　B.      Included                Excluded
 
　　C.      Excluded               Included
 
　　Solution: B
 
　　Depreciation is included in the computation of operating expenses. Interest expense is a financing
 
　　cost. Thus, it is excluded from operating expenses.
 
　　Q4-52 An example of an expense classification by function is:
 
　　A. tax expense.
 
　　B. interest expense.
 
　　C. cost of goods sold.
 
　　Solution：C.
 
　　Cost of goods sold is a classification by function. The other two expenses represent classifications
 
　　by nature.
 
　　Q4-53 Are income taxes and cost of goods sold examples of expenses classified by nature orclassified by function in the income statement?
 
　　Income taxes     Cost of goods sold
 
　　A.  Nature         Function
 
　　B.  Function       Nature
 
　　C.  Function       Function
 
　　Solution:A
 
　　Income taxes are expenses grouped together by their nature. Cost of goods sold includes a number ofexpenses related to the same function, the production of inventory.
 
　　Q4-54Which of the following would least likely increase pretax income?
 
　　A. Decreasing the bad debt expense estimate.
 
　　B. Increasing the useful life of an intangible asset.
 
　　C. Decreasing the residual value of a depreciable tangible asset.
 
　　Solution: C
 
　　Decreasing the residual (salvage) value of a depreciable long‐lived asset will result in higherdepreciation expense and, thus, lower pretax income.
 
　　Q4-55CC Corporation reported the following inventory transactions (in chronological order) for the year: (NotesB3‐81 9)
 
　　Purchase           Sales
 
　　40 units at $30     13 units at $35
 
　　20 units at $40     35 units at $45
 
　　90 units at $50     60 units at $60
 
　　Assuming inventory at the beginning of the year was zero, calculate the year‐end inventory usingFIFO and LIFO.
 
　　FIFO    LIFO
 
　　A.        $5,220  $1,040
 
　　B.        $2,100  $1,280
 
　　C.        $2,100  $1,040
 
　　Solution: B
 
　　108 units were sold (13 + 35 + 60) and 150 units were available for sale (beginning inventory of 0 pluspurchases of 40 + 20 + 90), so there are 150 — 108 = 42 units in ending inventory. Under FIFO, unitsfrom the last batch purchased would remain in inventory: 42 x $50 = $2,100. Under LIFO, the first 42units purchased would be in inventory: (40 x $30) + (2 x $40) = $1,280.
 
　　Q4-56  Changing an accounting estimate:
 
　　A. is reported prospectively.
 
　　B. requires restatement of all prior‐period statements presented in the current financialstatements.
 
　　C. is reported by adjusting the beginning balance of retained earnings for the cumulativeeffect of the change.
 
　　Solution: A
 
　　A change in an accounting estimate is reported prospectively.No restatement of prior period
 
　　statements is necessary.
 
　　Q4-57 Which of the following transactions would most likely be reported below incomefrom continuing operations, net of tax?
 
　　A. Gain or loss from the sale of equipment used in a firm's manufacturing operation.
 
　　B. A change from the accelerated method of depreciation to the straight‐line method.
 
　　C. The operating income of a physically and operationally distinct division that is currently for
 
　　sale, but not yet sold.
 
　　Solution: C
 
　　A physically and operationally distinct division that is currently for sale is treated as adiscontinued operation. The income from the division is reported net of tax below income fromcontinuing operations. Changing a depreciation method is a change of accounting principle,which is applied retrospectively and will change operating income.
 
　　Q4-58Which of the following statements about nonrecurring items is least accurate?
 
　　A. Gains from extraordinary items are reported net of taxes at the bottom of the incomestatement before net income.
 
　　B. Unusual or infrequent items are reported before taxes above net income from continuingoperations.
 
　　C. A change in accounting principle is reported in the income statement net of taxes afterextraordinary items and before net income.
 
　　Solution: C
 
　　A change in accounting principle requires retrospective application; that is, all prior periodfinancial statements currently presented are restated to reflect the change.

 
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