CFA財(cái)務(wù)報(bào)表分析練習(xí)題＂Financial Report＂：Tax rate
財(cái)務(wù)報(bào)告與分析中章節(jié)的設(shè)置是循序漸進(jìn)、逐層深入的，前面介紹的術(shù)語在后面還會有詳細(xì)的解釋與探討。
由于財(cái)務(wù)報(bào)告與分析本身自立體系，它是上市公司和報(bào)表使用人之間溝通交流的語言，所以學(xué)起來與外語學(xué)習(xí)有幾分相似。
財(cái)務(wù)報(bào)告與分析一共分為四大部分：
第一部分是掃盲階段，主要介紹財(cái)務(wù)術(shù)語、體系等基本知識。
在此基礎(chǔ)上，第二部分更深入地講解財(cái)務(wù)報(bào)表編制以及財(cái)務(wù)報(bào)表分析的方法。
進(jìn)一步地，第三部分針對存在利潤操縱空間的重點(diǎn)科目做詳細(xì)、深入的討論。
最后，第四部分是前面三部分內(nèi)容的綜合應(yīng)用。
四大部分在考試中占比最大的是第二部分和第三部分，大概占財(cái)報(bào)分析所有題目的80%以上。其次是第一部分，占比10%左右。
由于第四部分是財(cái)務(wù)分析的綜合應(yīng)用，不太適合一級的出題形式，所以出題比例相對比較少，大概占5%左右。
cfa

Questions 1:

In applying the principles of expense recognition,companies should:
A、record any estimates of uncollectible amounts as a direct reduction of revenues.
B、exclude costs of intangible assets with indefinite useful lives.
C、recognize credit losses on customer receivables when defaults occur.

【Answer to question 1】B

【analysis】
B is correct.The two main types of long-lived assets whose costs are not allocated over time are land and those intangible assets with indefinite useful lives.
A is incorrect because a company records an estimate of uncollectible amounts as an expense on the income statement,not as a direct reduction of revenues.
C is incorrect because,under the matching principle,at the time revenue is recognized on a sale,a company is required to record an estimate of how much of the revenue will ultimately be uncollectible.

Questions 2:

The following table summarizes income statement data for a manufacturing company:
Financial Report:Tax rate
Financial Report:Tax rate
Compared with 2020,the 2021 common-size income statement most likely indicates:
A、a lower tax rate.
B、cost cutting in selling,general and administration.
C、sale of a new,differentiated product.

【Answer to question 2】C

【analysis】
C is correct.Gross profit margin improved from 33.3%(€775/€2,325)to 35.6%(€930/€2,611).This may be reflective of selling a new,more highly differentiated product.
A is incorrect because the tax rate(which is expressed as tax paid as a percentage of net income)increased year over year,from 26.1%(€120/€460)to 26.7%(€155/€580).This is also true of tax paid as a percentage of revenue,which increased from 5.2%(€120/€2,325)to 5.9%(€155/€2,611)year over year.The company’s profitability was reduced because of the higher tax rate.
B is incorrect because SG&A as a percentage of revenue slightly increased year over year:2010=€260/€2,325=11.2%and 2011=€295/€2,611=11.3%.
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