財(cái)務(wù)報(bào)表分析綜合題課件

題型Ⅰ.根據(jù)教材，用英語(yǔ)解釋下列專業(yè)術(shù)語(yǔ)）（共6題，每題2分，共12分）Ⅱ.不定項(xiàng)選擇(7×2’=14’)（中文）Ⅲ.判斷題(7×1’=7’)（中文）Ⅳ.（綜合題）(37’)1.比較完工百分比法和全部完工法（12’）2.用直接法和間接法編制現(xiàn)金流量表（10’）3.比率計(jì)算（8’）4.比較先進(jìn)先出法和加權(quán)平均法（7’）Ⅴ.某家上市公司的財(cái)務(wù)報(bào)表分析。(30分)題型Ⅰ.根據(jù)教材，用英語(yǔ)解釋下列專業(yè)術(shù)語(yǔ)）（共6題，每題2分1Problem:比較全部完工法和完工百分比法200720082009Costincurred:currentyear$700$1,000$800Cumulative7001,7002,500Estimatedremainingcoststocomplete1,8008000AmountsbilledandcashreceivedCurrentyear$800$1,000$1,200Cumulative8001,8003,000OnDecember31,2006,XXconstructionenteredintoamajorlong-termconstructionwiththefollowingterms:Problem:比較全部完工法和完工百分比法20072002Questions:A.Showtherevenueandpretaxincomeforeachyearunderboththepercentage-of-completionandcompletedcontractmethods.（用兩種方法列示各年收入和稅前利潤(rùn)）B.Showthebalancesheetaccountsoftheendofthesethreeyearsresultingfromthecontractunderbothmethods.（用兩種方法列示各年資產(chǎn)負(fù)債表賬戶余額）C.Assumethattotalprojectedcostsincreaseby$200andthechangeinestimateismadeatDecember31,2008.Computetherevenueandpretaxincomefortheseyearsundertherevisedassumption.Questions:3Answer:1. a.YearCumulative%CompletionCumulativeRevenueCurrentPeriodRevenueCurrentPeriodExpensePretaxIncome20070.7/2.5=28%$840$840$700$14020081.7/2.5=68%20401200100020020092.5/2.5=100%3000960800160Total$3000$2500$500YearCurrentPeriodRevenueCurrentPeriodExpensePretaxIncome2007$0$0$02008000200930002500500Total$3000$2500$500Answer:YearCumulativeCumulativ4b.BalanceSheetonDecember31,2000200720082009AssetsCash100100500Constructioninprogress(net)402400Totalassets140340500LiabilitiesandequityAdvancebillings(net)000Retainedearnings140340500Totalliabilitiesandequity140340500b.BalanceSheetonDecember35c.Thereisnochangein2008revenuesandpretaxincome(bothare$0.000)underthecompletedcontractmethodbecausenorevenueorincomecanberecognizedpriortocompletion.

Underthepercentage-of-completionmethod(revised)YearCumulative%CompletionCumulativeRevenueCurrentPeriodRevenueCurrentPeriodExpensePretaxIncome2007$840$840$700$14020081.7/2.7=62.96%$1888.89$1048.89$1000$48.892009$3000$1111.11$1000$111.11c.Thereisnochangein20086Homework3.a(i)indirectmethodNetincome $1,080Addnoncashexpense:Depreciationexpense 600 Interestexpense600Add/Subtractchangesinworkingcapital:Accountsreceivable (150)Inventory (200) Accruedliabilities80Accountspayable 120Cashfromoperations:$2,130

Homework3.a(i)indirectmetho73.a(ii)directmethod

Cashcollections$9,850Cashpaymentsformerchandise (6,080)CashpaidforSG&A (920)Cashpaidfortaxes(720)

CashfromOperations:

$2,130Capitalexpenditures (1,150)CashforInvestingActivities:(1,150)

Cashpaidforinterest(600)Short-termborrowing(Notespayable)550Long-termdebtrepayment (398)Dividends (432)CashforFinancingActivities:

$(880)NetChangeinCash $1003.a(ii)directmethodCashc820082009IncomestatementfortheYearEndingDec.31,2009Cash$30$46Accountsreceivable545599Inventory405458Currentassets$980$1,103Sales$1,861Property,plant,andequipment204237Costofgoodssold1,277Less:accumulateddepreciation(73)(87)Totalassets$1,111$1,253Operatingexpense504Accountspayable$113$104Taxespayable130133Depreciation14Short-termdebt391453Interest51Currentliabilities$634$690Taxes6Long-termdebt143239Netincome$9Totalliabilities$777$929Commonstock7376Retainedearnings261248Totalequity$334$324Totalliabilitiesandequity$1,111$1.25320082009Incomestatementfort9根據(jù)前面的資產(chǎn)負(fù)債表和利潤(rùn)表用直接法編制現(xiàn)金流量表的經(jīng)營(yíng)現(xiàn)金流部分，并了解間接法。

CashcollectionsCashinputsCashexpensesTaxespaid

CashfromOperations$1807(1339)(504)(3)$(39)[Sales-AccountsReceivable][COGS+Inventory-AccountsPayable][OperatingExpense][TaxExpense-Taxpayable]Cashflowstatement(directmethod)根據(jù)前面的資產(chǎn)負(fù)債表和利潤(rùn)表用直接法編制現(xiàn)金流量表的經(jīng)營(yíng)現(xiàn)金10IndirectmethodCashflowsfromoperatingactivities:NetincomeAdjustmentstocashbasis:DepreciationexpenseIncreaseinaccountsreceivableIncreaseininventoryDecreaseinaccountspayableIncreaseintaxespayableIncreaseininterestexpenseNetcashflowfromoperatingactivities$9

14(54)(53)(9)351

$(39)IndirectmethodCashflowsfrom111.ActivityanalysisInventoryTurnoverAverageNo.DaysInventoryInStockReceivablesTurnoverAverageNo.DaysReceivablesOutstandingPayablesTurnoverAverageNo.DaysPayablesOutstandingWorkingCapitalTurnoverFixedAssetsTurnoverTotalAssetTurnover掌握這些比率的公式的英文表述，并根據(jù)上面的財(cái)務(wù)報(bào)表計(jì)算下列比率：1.Activityanalysis掌握這些比率的公式的122.LiquidityanalysisOperatingCycleCashCycleCurrentRatioQuickRatioCashRatioDefensiveInterval2.Liquidityanalysis133.Long-termdebtandSolvencyanalysisDebttoEquityTimesInterestEarned4.ProfitabilityanalysisReturnonSalesReturnonAssetsReturnonEquity3.Long-termdebtandSolvency141.ActivityanalysisInventoryTurnover=1277/431.5=2.96AverageNo.DaysInventoryInStock=365/2.96=123.31ReceivablesTurnover=1861/572=3.25AverageNo.DaysReceivablesOutstanding=365/3.25=112.31PayablesTurnover=(1277+53)/108.5=12.26AverageNo.DaysPayablesOutstanding=365/12.26=29.77WorkingCapitalTurnover=1861/(346+174)/2=7.16FixedAssetsTurnover=1861/(131+150)/2=13.25TotalAssetTurnover=1861/(1111+1253)/2=1.571.Activityanalysis152.LiquidityanalysisOperatingCycle=123.31+112.31=235.62CashCycle=235.62-12.26=223.36CurrentRatio=1103/690=1.60QuickRatio=(46+599)/690=0.93CashRatio=46/690=0.067DefensiveInterval=365X(46+599)/1838=120.092.Liquidityanalysis163.Long-termdebtandSolvencyanalysisDebttoEquity=929/324=2.87TimesInterestEarned=(9+51+6)/51=1.294.ProfitabilityanalysisReturnonSales=9/1861=0.48%ReturnonAssets=9/1253=0.72%ReturnonEquity=9/324=2.78%3.Long-termdebtandSolvency171.P171{S}a. Startwiththebasicinventoryrelationship BI+P=COGS+EI Openinginventory 400units@$20 $8,000 Purchases 1,000

25,000 Total 1,400units $33,000 (i) UnderFIFO,endinginventoryconsistsof600units: 100purchasedinsecondquarterat$24 $2,400 300purchasedinthirdquarterat$26 7,800

200purchasedinfourthquarterat$28 5,600

600unitstotal $15,800

1.P17118 (iii) Underaveragecost,endinginventoryconsistsof600unitswithanaveragecostof$33,000/1,400=$23.5714perunit$23.5714perunit×600=$14,142.84total. (iii) Underaveragecost,end19b. COGSfortheyearequalsthe$33,000totalofopeninginventorypluspurchases,lessclosinginventoryunderthemethodchosen:(i) FIFO:$33,000-$15,800=$17,200(iii)Averagecost:$33,000-$14,142.84=$18,857.16

b. COGSfortheyearequalsth20c. (i) ReportedincomeishighestunderFIFO(lowestCOGS)andlowestunderLIFO(highestCOGS).AveragecostisinbetweenFIFOandLIFO.(ii) Stockholders’equityishighestunderFIFO(highestinventoryandretainedearnings)andlowestunderLIFO(lowestinventoryandretainedearnings),withaveragecostinbetween.c. (i) Reportedincomeishigh21EndinginventoryCOGSincomestockholders'equityFIFO1580017200higherhigherAveragecost14142.8418857.16lowerlower1.P171EndingCOGSincomestockholders'222（1）FIFO（2）Average(i)GrossprofitmarginHigherLower(ii)NetincomeHigherLower(iii)CashfromoperationsLowerHigher(iv)InventoriesHigherLower(v)InventoryturnoverratioLowerHigher(vi)WorkingcapitalHigherHigher(vii)TotalassetsHigherLower(viii)Debt-to-equityratioLowerHigher2（1）FIFO（2）Average(i)Grosspr232.(i)Grossprofitmarginsarehigherunder

FIFO

thanunderWeighted-averagebecauserevenuesathighercurrentpricesarematchedwithcost-of-goods-soldmeasuredusingolder(lower)prices.(ii)NetincomeislowerunderWeighted-averagethanunderFIFO

becausecost-of-goods-soldishigher.(iii)Cashfromoperationsishigherunder

Weighted-averagethanunderFIFObecauseincometaxpaidislower.(iv)InventorybalancesarelowerunderWeighted-averagethanunder

FIFObecausecost-of-goods-soldishigherandlowerpricesremainininventory.2.24(v)InventoryturnoverislowerunderFIFOthanunder

Weighted-average

becausecost-of-goods-soldislowerandinventorybalanceshigher.Bothfactorsdecreasetheinventoryturnoverratio.(vi)WorkingcapitalislowerunderWeighted-averagethanunderFIFObecauseinventorybalancesarelower,despitepartialoffsetfromhighercashbalances(becauseoflowertaxpayments).(vii)Totalassetsarehigherunder

FIFO

becauseFIFOinventorybalancesarehigher.(vii)Thedebt-to-equityratioislowerunderFIFOthanunderWeighted-averagebecauseequityishigher,reflectinghigherretainedearnings.(v)Inventoryturnoverislowe253.TheMogulCompany,expectingthatdecreasesinoilpricesareonlytemporary,increasesitsmonthlypurchasesasthepriceofoildecreases.Mogul’smonthlyoilpurchasesfollow:月進(jìn)貨數(shù)量單價(jià)銷貨數(shù)量月進(jìn)貨數(shù)量單價(jià)銷貨數(shù)量110000025100000715000018150000210000025100000815000018150000310000025100000915000018150000412500020100000102000001515000051250002010000011200000151500006125000201000001220000015150000Assumptions:?Thecompanyhasnoopeninginventory.?MogulusestheFIFOinventorymethod.?Thecompany’staxrateis40%.3.TheMogulCompany,expectin26Question：a.ComputethedifferenceineachofthefollowingdollaramountsthatMogulwouldreportunderitspresentaccountingmethod(FIFO),ascomparedwithuseoftheWeightaveragemethod.(i)Inventorypurchases(ii)Closinginventory(iii)COGS(iv)Pretaxincome(v)Incometaxexpense(vi)Netincome(vii)Cash?owfromoperations(viii)Workingcapital(year-end)Question：a.Computethediffer273.{M}a. Startwiththebasicinventoryrelationship BI+P=COGS+EI Sinceopeninginventoryiszero,bothBIandP(purchases)areidenticalunderbothmethods;thedifferenceinCOGSequalsthedifferenceinendinginventory.Thatdifferencecanbecomputedasfollows:Totalpurchasesinunits=(3x100,000)+(3x125,000) +(3x150,000)+(3x200,000)=1,725,000Totalpurchasesamounts=32100000Totalsalesinunits=(6x100,000)+(6x150,000)=1,500,000.ThereforeunitsinEI=1,725,000-1,500,000=225,000Averageunitcost=32100000/1725000=18.61

3.{M}a. Startwiththebasici28結(jié)果如下：（本題是價(jià)格下降，考試題價(jià)格上升，關(guān)系別反了）（1）FIFO（2）AverageDifference（1）-（2）(i)Inventorypurchases1,725,0001,725,0000(ii)EI3,375,0004,186,957-811,957(iii)COGS

28,725,00027,913,043811,957(iv)PretaxincomeX-811,957X-811,957(v)Incometax0.4X-324,7830.4X-324,783-(vi)Netincome0.6X-487,1740.6X-487,174(vii)CFOY+324,783Y324,783(viii)Workingcapital(year-end)Z+3,699,783Z+4,186,957-487,174結(jié)果如下：（本題是價(jià)格下降，考試題價(jià)格上升，關(guān)系別反了）（129題型Ⅰ.根據(jù)教材，用英語(yǔ)解釋下列專業(yè)術(shù)語(yǔ)）（共6題，每題2分，共12分）Ⅱ.不定項(xiàng)選擇(7×2’=14’)（中文）Ⅲ.判斷題(7×1’=7’)（中文）Ⅳ.（綜合題）(37’)1.比較完工百分比法和全部完工法（12’）2.用直接法和間接法編制現(xiàn)金流量表（10’）3.比率計(jì)算（8’）4.比較先進(jìn)先出法和加權(quán)平均法（7’）Ⅴ.某家上市公司的財(cái)務(wù)報(bào)表分析。(30分)題型Ⅰ.根據(jù)教材，用英語(yǔ)解釋下列專業(yè)術(shù)語(yǔ)）（共6題，每題2分30Problem:比較全部完工法和完工百分比法200720082009Costincurred:currentyear$700$1,000$800Cumulative7001,7002,500Estimatedremainingcoststocomplete1,8008000AmountsbilledandcashreceivedCurrentyear$800$1,000$1,200Cumulative8001,8003,000OnDecember31,2006,XXconstructionenteredintoamajorlong-termconstructionwiththefollowingterms:Problem:比較全部完工法和完工百分比法200720031Questions:A.Showtherevenueandpretaxincomeforeachyearunderboththepercentage-of-completionandcompletedcontractmethods.（用兩種方法列示各年收入和稅前利潤(rùn)）B.Showthebalancesheetaccountsoftheendofthesethreeyearsresultingfromthecontractunderbothmethods.（用兩種方法列示各年資產(chǎn)負(fù)債表賬戶余額）C.Assumethattotalprojectedcostsincreaseby$200andthechangeinestimateismadeatDecember31,2008.Computetherevenueandpretaxincomefortheseyearsundertherevisedassumption.Questions:32Answer:1. a.YearCumulative%CompletionCumulativeRevenueCurrentPeriodRevenueCurrentPeriodExpensePretaxIncome20070.7/2.5=28%$840$840$700$14020081.7/2.5=68%20401200100020020092.5/2.5=100%3000960800160Total$3000$2500$500YearCurrentPeriodRevenueCurrentPeriodExpensePretaxIncome2007$0$0$02008000200930002500500Total$3000$2500$500Answer:YearCumulativeCumulativ33b.BalanceSheetonDecember31,2000200720082009AssetsCash100100500Constructioninprogress(net)402400Totalassets140340500LiabilitiesandequityAdvancebillings(net)000Retainedearnings140340500Totalliabilitiesandequity140340500b.BalanceSheetonDecember334c.Thereisnochangein2008revenuesandpretaxincome(bothare$0.000)underthecompletedcontractmethodbecausenorevenueorincomecanberecognizedpriortocompletion.

Underthepercentage-of-completionmethod(revised)YearCumulative%CompletionCumulativeRevenueCurrentPeriodRevenueCurrentPeriodExpensePretaxIncome2007$840$840$700$14020081.7/2.7=62.96%$1888.89$1048.89$1000$48.892009$3000$1111.11$1000$111.11c.Thereisnochangein200835Homework3.a(i)indirectmethodNetincome $1,080Addnoncashexpense:Depreciationexpense 600 Interestexpense600Add/Subtractchangesinworkingcapital:Accountsreceivable (150)Inventory (200) Accruedliabilities80Accountspayable 120Cashfromoperations:$2,130

Homework3.a(i)indirectmetho363.a(ii)directmethod

Cashcollections$9,850Cashpaymentsformerchandise (6,080)CashpaidforSG&A (920)Cashpaidfortaxes(720)

CashfromOperations:

$2,130Capitalexpenditures (1,150)CashforInvestingActivities:(1,150)

Cashpaidforinterest(600)Short-termborrowing(Notespayable)550Long-termdebtrepayment (398)Dividends (432)CashforFinancingActivities:

$(880)NetChangeinCash $1003.a(ii)directmethodCashc3720082009IncomestatementfortheYearEndingDec.31,2009Cash$30$46Accountsreceivable545599Inventory405458Currentassets$980$1,103Sales$1,861Property,plant,andequipment204237Costofgoodssold1,277Less:accumulateddepreciation(73)(87)Totalassets$1,111$1,253Operatingexpense504Accountspayable$113$104Taxespayable130133Depreciation14Short-termdebt391453Interest51Currentliabilities$634$690Taxes6Long-termdebt143239Netincome$9Totalliabilities$777$929Commonstock7376Retainedearnings261248Totalequity$334$324Totalliabilitiesandequity$1,111$1.25320082009Incomestatementfort38根據(jù)前面的資產(chǎn)負(fù)債表和利潤(rùn)表用直接法編制現(xiàn)金流量表的經(jīng)營(yíng)現(xiàn)金流部分，并了解間接法。

CashcollectionsCashinputsCashexpensesTaxespaid

CashfromOperations$1807(1339)(504)(3)$(39)[Sales-AccountsReceivable][COGS+Inventory-AccountsPayable][OperatingExpense][TaxExpense-Taxpayable]Cashflowstatement(directmethod)根據(jù)前面的資產(chǎn)負(fù)債表和利潤(rùn)表用直接法編制現(xiàn)金流量表的經(jīng)營(yíng)現(xiàn)金39IndirectmethodCashflowsfromoperatingactivities:NetincomeAdjustmentstocashbasis:DepreciationexpenseIncreaseinaccountsreceivableIncreaseininventoryDecreaseinaccountspayableIncreaseintaxespayableIncreaseininterestexpenseNetcashflowfromoperatingactivities$9

14(54)(53)(9)351

$(39)IndirectmethodCashflowsfrom401.ActivityanalysisInventoryTurnoverAverageNo.DaysInventoryInStockReceivablesTurnoverAverageNo.DaysReceivablesOutstandingPayablesTurnoverAverageNo.DaysPayablesOutstandingWorkingCapitalTurnoverFixedAssetsTurnoverTotalAssetTurnover掌握這些比率的公式的英文表述，并根據(jù)上面的財(cái)務(wù)報(bào)表計(jì)算下列比率：1.Activityanalysis掌握這些比率的公式的412.LiquidityanalysisOperatingCycleCashCycleCurrentRatioQuickRatioCashRatioDefensiveInterval2.Liquidityanalysis423.Long-termdebtandSolvencyanalysisDebttoEquityTimesInterestEarned4.ProfitabilityanalysisReturnonSalesReturnonAssetsReturnonEquity3.Long-termdebtandSolvency431.ActivityanalysisInventoryTurnover=1277/431.5=2.96AverageNo.DaysInventoryInStock=365/2.96=123.31ReceivablesTurnover=1861/572=3.25AverageNo.DaysReceivablesOutstanding=365/3.25=112.31PayablesTurnover=(1277+53)/108.5=12.26AverageNo.DaysPayablesOutstanding=365/12.26=29.77WorkingCapitalTurnover=1861/(346+174)/2=7.16FixedAssetsTurnover=1861/(131+150)/2=13.25TotalAssetTurnover=1861/(1111+1253)/2=1.571.Activityanalysis442.LiquidityanalysisOperatingCycle=123.31+112.31=235.62CashCycle=235.62-12.26=223.36CurrentRatio=1103/690=1.60QuickRatio=(46+599)/690=0.93CashRatio=46/690=0.067DefensiveInterval=365X(46+599)/1838=120.092.Liquidityanalysis453.Long-termdebtandSolvencyanalysisDebttoEquity=929/324=2.87TimesInterestEarned=(9+51+6)/51=1.294.ProfitabilityanalysisReturnonSales=9/1861=0.48%ReturnonAssets=9/1253=0.72%ReturnonEquity=9/324=2.78%3.Long-termdebtandSolvency461.P171{S}a. Startwiththebasicinventoryrelationship BI+P=COGS+EI Openinginventory 400units@$20 $8,000 Purchases 1,000

25,000 Total 1,400units $33,000 (i) UnderFIFO,endinginventoryconsistsof600units: 100purchasedinsecondquarterat$24 $2,400 300purchasedinthirdquarterat$26 7,800

200purchasedinfourthquarterat$28 5,600

600unitstotal $15,800

1.P17147 (iii) Underaveragecost,endinginventoryconsistsof600unitswithanaveragecostof$33,000/1,400=$23.5714perunit$23.5714perunit×600=$14,142.84total. (iii) Underaveragecost,end48b. COGSfortheyearequalsthe$33,000totalofopeninginventorypluspurchases,lessclosinginventoryunderthemethodchosen:(i) FIFO:$33,000-$15,800=$17,200(iii)Averagecost:$33,000-$14,142.84=$18,857.16

b. COGSfortheyearequalsth49c. (i) ReportedincomeishighestunderFIFO(lowestCOGS)andlowestunderLIFO(highestCOGS).AveragecostisinbetweenFIFOandLIFO.(ii) Stockholders’equityishighestunderFIFO(highestinventoryandretainedearnings)andlowestunderLIFO(lowestinventoryandretainedearnings),withaveragecostinbetween.c. (i) Reportedincomeishigh50EndinginventoryCOGSincomestockholders'equityFIFO1580017200higherhigherAveragecost14142.8418857.16lowerlower1.P171EndingCOGSincomestockholders'512（1）FIFO（2）Average(i)GrossprofitmarginHigherLower(ii)NetincomeHigherLower(iii)CashfromoperationsLowerHigher(iv)InventoriesHigherLower(v)InventoryturnoverratioLowerHigher(vi)WorkingcapitalHigherHigher(vii)TotalassetsHigherLower(viii)Debt-to-equityratioLowerHigher2（1）FIFO（2）Average(i)Grosspr522.(i)Grossprofitmarginsarehigherunder

FIFO

thanunderWeighted-averagebecauserevenuesathighercurrentpricesarematchedwithcost-of-goods-soldmeasuredusingolder(lower)prices.(ii)NetincomeislowerunderWeighted-averagethanunderFIFO

becausecost-of-goods-soldishigher.(iii)Cashfromoperationsishigherunder

Weighted-averagethanunderFIFObecauseincometaxpaidislower.(iv)InventorybalancesarelowerunderWeighted-averagethanunder

FIFObecausecost-of-goods-soldishigherandlowerpricesremainininventory.2.53(v)InventoryturnoverislowerunderFIFOthanunder

Weighted-average

becausecost-of-goods-soldislowerandinventorybalanceshigher.Bothfactorsdecreasetheinventoryturnoverratio.(vi)WorkingcapitalislowerunderWeighted-averagethanunderFIFObecauseinventorybalancesarelower,despitepartialoffsetfromhigherca