CFA财务报表分析练习题＂Financial Report＂：Non-Current(Long-Term)Liabilities
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。

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Questions 1:

A company issued a$50,000 seven-year bond for$47,565.The bonds pay 9%per annum,and the yield to maturity at issue was 10%.The company uses the effective interest rate method to amortize any discounts or premiums on bonds.After the first year,the yield to maturity on bonds equivalent in risk and maturity to these bonds is 9%.The amount of the bond discount amortization recorded in the first year is closest to:
A、$257.
B、$0.
C、$348.

【Answer to question 1】A

【analysis】
A is correct.Interest paid=Coupon rate at issue×Issued amount of bonds=9%×$50,000=4,500 Interest expense=Market rate at issue×Carrying(book value)of bonds Amortization of discount=Interest expense–Interest paid
Financial Report:Non-Current(Long-Term)Liabilities
Amortization of the bond discount in the first year is$257.
B is incorrect.By the end of the first year,the bonds were selling at par.This is irrelevant for the amortization because the interest expense for the period is based on the carrying value(BV)not the market value;0 assumes that the bond is at par and no amortization is required.
C is incorrect.It uses the straight-line depreciation of the discount:($50,000–$47,566)/7=$348.

Questions 2:

Which of the following statements about balance sheets is most accurate?For balance sheets prepared under:
A、IFRS,a classified balance sheet must present current assets before noncurrent assets.
B、US GAAP,intangibles must be valued at historical cost.
C、IFRS,a commercial real estate company should use a liquidity based presentation.

【Answer to question 2】B

【analysis】
B is correct.Under US GAAP,intangibles must be valued at historical cost;under IFRS they can be valued at cost or r*uation.
A is incorrect.Under IFRS,a classified balance sheet does separate current assets from non-current assets,but non-current assets could be presented first.
C is incorrect.A commercial real estate company would have many non-liquid assets and would not likely use the liquidity-based presentation under IFRS.A commercial bank would use this format.
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