CFA财务报表分析练习题＂Financial Report＂：Financial Reporting Quality。
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。
Questions 1:
Which of the following conditions conducive to issuing low-quality financial reports is most likely a result of poor internal controls?
A、Rationalization
B、Opportunity
C、Motivation
【Answer to question 1】B
【analysis】
B is correct.Poor internal controls provide opportunities for errors or fraud to be incorporated in financial reporting without being detected.
A is incorrect.Rationalization takes place after the low-quality reporting act has taken place and is a psychological process used by individuals to justify their actions.Poor internal controls are not a psychological process.
C is incorrect.Motivation results from personal pressures or corporate pressures to report on a low-quality basis.Poor internal controls provide the vehicle through which low-quality reporting can be concealed
Questions 2:
Which of the following approaches will most likely reveal manipulation of financial reporting?
A、Using EBITDA to adjust for non-recurring items
B、Evaluating potential warning signals in isolation
C、Comparing a company’s methods and policies to those of its peers
【Answer to question 2】C
【analysis】
C is correct.An investor should compare a company’s policies with those of its peers to determine whether its approaches match or differ from industry norms;if a company is the only one in its industry following a particular approach,a red flag is raised.
A is incorrect because companies may construct or report their own version of EBITDA.Thus,adjusting EBITDA for a non-recurring item,in and of itself,does not reflect or reveal manipulation or financial reporting.
B is incorrect because investors need to evaluate warning signals cohesively,not on an isolated basis.
写评论
