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Financial Statement Analysis > II-I/S, B/S-5 > Flashcards

II-I/S, B/S-5 Flashcards

1
Q

Income statement

structure

A

revenue

-CoGS

GROSS PROFIT

  • SG&A
  • R&D

Operating income

+- other non-operating income/expense

EBIT

  • interest

EBT

+- unusual or infrequent

-tax

N.I from continuing operations

+ NI from discontinued operations

  • Accounting changes

================

N.I.

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2
Q

net revenue

A

= REVENUE - adjustments 预估三包费用

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3
Q

expenses

by nature

by function

A
  • by nature: D&A单独列支income tax, interest
  • by function: D&A分别计入到各种费用中
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4
Q

(I/S)sheet Presentation formats

single-format

multi-format

A

single: 列出所有expenses
multi: 列出Gross Profit等subtotal

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5
Q

discontinued income

A

这期间的收入：

年内从宣布售出业务measurement date

到业务正式出售 actual disposal date

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6
Q

收入的确认标准

  1. 两条共有标准
  2. IASB特殊标准
  3. US GAAP特殊标准
A
  • product delivered, service rendered, risk and reward of ownership transferred
  • probable to collect money
  • IASB: cost can be reliably measured
  • GAAP: evidence of an arrangement between buyer and seller
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7
Q

收入确认 【LT contract】

  1. rev, cost可以精确估计
  2. rev, cost不可精确预计

计量方法

A
  1. 可以估计：Percentage of Completion method (PoC)，根据支出占总成本比例计量收入
  2. 不可估计-【IFRS】: 根据支出同等确认收入，最后一年收入根据合同收入调整【quick cost recovery】
  3. 不可估计【GAAP】:completion of contract method, 前几年不确认收入费用，最后完工时一并确认
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8
Q

Percentage of Completion (PoC)

Completion of Contract (CC)

method 比较

A
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9
Q

Completion of Contract (CC)

IFRS法

method 比较

  1. 早年N.I.
  2. 早年revenue
A
  • same - 都是0
  • IFRS法更多
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10
Q

收入确认【Installment Sales】

  1. collectability cannot be reasonably estimated
  2. collectability highly uncertain

under US GAAP

A
  1. Installment sales method: 根据收入占总收入比例确认费用
  2. cost recovery method: 根据收入同等确认费用，到cost确认完再确认收益
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11
Q

收入确认【Installment Sales】

  1. collectability cannot be reasonably estimated
  2. collectability highly uncertain

under IFRS

A
  1. 同CPA:本金现值，未确认融资费用
  2. 略同于GAAP, cost recovery method
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12
Q

barter transaction

计量条件

under GAAP 2

under IFRS

A
  • historically, received cash payment for the same service
  • based on historical experience to determin fair value
  • IFRS: fair value of similar non-barter transactions with unrelated parties
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13
Q

two types of revenue reporting

4 conditions for Gross Rev Reporting

A
  • Gross rev: 携程倒机票1000-900
  • Net rev: rev 100, cost 0
  1. be the primary obiligator of the contract
  2. 自由选择supplier
  3. 自行承担inventory/credit risk
  4. 有定价权
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14
Q

inventory costing methods

4

A
  • specific identification method
  • first in, first out (FIFO)
  • las in, first out (LIFO, only GAAP)
  • wighted average cost method
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15
Q

long-lived asset

depreciation methods 3

A
  • straight-line method
  • diminishing balance (double declining balance) method - accelerated method
  • units of productions method
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16
Q

未知使用期的无形资产

商誉goodwill

如何计算摊销

A

不计算摊销，在资产负债表日进行减值测试，如果减值计入当年损益

17
Q

ordinary share

(common share)

definition

A

basically the owners of the company - paid last in the liquidation, and benefit the most when company does well

18
Q

Basic EPS

equation + explain

A
  • new issued or repurchased: 时间加权
  • Stock dividend, Stock splits: 对全年进行追溯调整
19
Q

basic EPS 普通股数计算

A
20
Q

Diluted EPS

equation

A
21
Q

Treasury stock

  1. 概念
  2. 特性4
A

库存股：上市公司回购股份，放在自己账上

  1. Owner’s equity 的减少
  2. TS是对公司outstanding stock的减少
  3. T’S无分红权
  4. TS无投票权
22
Q

Diluted EPS [stock options/ warrants]

A
23
Q

Antidilutive securities

2点

A

所有计算DEPS都应先计算BEPS和DEPS，再确定较小者DEPS

如果计算DEPS中有anti-dilutive的成分，就将其去掉，只计算dilutive成分

24
Q

approaches to

I/S analysis

A
  • Common-size analysis: 所有I/S换算成revenue的百分比
  • ratios-profitability
    • net profit margin (N.I./ revenue)
    • gross profit margin (gross profit/revenue)
    • operating profit margin
    • pretax margin (EBT/revenue)
25
Q

P/E ratio低

有可能是哪种假象造成的

A

公司Other comprehensive income损失过大，如果以total comprehensive income为基准计算EPS进而计算市盈率，会发现公司并没有被低估。

26
Q

辨析【I/S】：

unusual or infrequent items

extraordinary items

A

Extra. 即 unusual, and infrequent，列示在continuing operations

2015GAAP新政策，已取消本栏目

并入原unusual or infrequent, or unusual and infrequent,

above line, 属于continuing operation

27
Q

如果年报中进行了会计政策调整

则需要restate

A

prior periods shown in a report (not all prior periods)

28
Q

Classified B/S 一个特例

A

under IFRS, current and non-current classifications are not required with a liquidity-based presentation

29
Q

accounts receivable

计提坏账准备

坏账确实发生

会计处理

A

1.

debit: bad debt expense
credit: A/R-allowance for doubtful accounts

2.

debit: A/R-allowance for doubtful accounts
credit: A/R

30
Q

define:

Goodwill

A

并购时的收购价-被收购方账面可辨认净资产公允价值

purchase cost -

net identifiable assets acquired

31
Q
  1. outstanding share =
  2. preferred shares会出现在哪
A
  1. outstanding share = issued shares-treasure shares
  2. a.preferred shares with mandatory redemption and a fixed amount at a future date are classified as financial liabilities
    b. perpetual, non-redeemable are classified as equity
32
Q

分析B/S的两种方法

A
  • common-size analysis: percentage of total asset
  • ratios:
    • liquidity ratios: current, quick, cash
    • solvency ratios: long-term debt to equity, debt-to-equity, total debt, financial leverage
33
Q

in Equity,

minority interests means

A

Equity interest of minority shareholders in subsidiaries that have been consolidated.

34
Q

解释I/S表中

non-operating items

  1. 包含？
  2. 反映在CF表中？
A
  1. 营业外收支：固定资产处置，interest 收支，dividend收支
  2. 不一定就不是CFO

可能是CFI CFO CFF任何一类

【因此operating items也不必然对应CFO

operating item可以是非金融企业存货减值】

Financial Statement Analysis (7 decks)

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