"Financial Report"：Understanding Income Statements

下載正保會計網(wǎng)校APP 訂閱最新報考消息

來源: 正保會計網(wǎng)校編輯：小鞠橘桔 2020/10/10 09:34:03　字體：大小

選課中心

多樣班次滿足需求

選課中心

資料專區(qū)

干貨資料助力備考

資料專區(qū)

報考指南

報考條件一鍵了解

報考指南

學(xué)習(xí)是一個不斷積累的過程，每天學(xué)習(xí)一點，每天進步一點！為了幫助大家更高效地備考2021年CFA考試，正保會計網(wǎng)校每日為大家上新CFA習(xí)題供大家練習(xí)。讓網(wǎng)校與您一起高效備考2021年CFA考試，夢想成真！

Questions 1:

A company recorded the following events during 2014:

Financial Report：Understanding Income Statements

On the 2014 statement of cash flows, the company’s net cash flow from investing activities (in thousands) is closest to:

A 、$285.

B、 –$275.

C 、–$215.

Questions 2:

The converged revenue recognition standards (issued by the International Accounting Standards Board and the Financial Accounting Standards Board in May 2014) are best described as differing from pre-converged US GAAP in that they:

A、 align the recognition of revenue with the customer’s fulfillment of payment obligations.

B、 provide extensive additional guidance for specific industries and transactions.

C、 provide a principles-based approach applicable to many types of revenuegenerating activities.

View answer resolution

【Answer to question 1】B

【analysis】

B is correct. Only the cash flows for the purchase of the shares in an affiliated company is cash from investing activities, thus the net amount is –$275,000. Cash flows from trading securities is an operating activity, and cash flow from issuing bonds is a financing activity.

A is incorrect. It also includes the proceeds from the issuance of the bond, but that is a financing activity: –275,000 – 240,000 + 300,000 + 500,000 = 285,000.

C is incorrect. It includes the proceeds and purchase of the trading securities, but they are operating activities: –275,000 – 240,000 + 300,000 = –215,000

【Answer to question 2】C

【analysis】

C is correct. The converged standards aim to take a principles-based approach that avoids the provision of specific rules and requirements characteristic of current US GAAP revenue recognition standards.

A is incorrect. Neither current US GAAP nor the new standard suggests aligning revenue recognition with receipt of payments, except where collectability is uncertain.

B is incorrect. Current US GAAP includes extensive guidance on specific industries and transactions. The new standard moves away from this approach.

成功=時間+方法，自制力是這個等式的保障。世上無天才，高手都是來自刻苦的練習(xí)。而人們經(jīng)常只看到“牛人”閃耀的成績，其成績背后無比寂寞的勤奮。小編相信，每天都在勤奮練習(xí)，即使是一點點的進步，大家一定可以成為人人稱贊的“牛人”。更多CFA考試資訊，點擊了解>