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momo · 2024年02月12日

earning

NO.PZ2023081403000108

问题如下:

Q. Low quality earnings most likely reflect:

选项:

A.low-quality financial reporting. B.company activities which are unsustainable. C.information that does not faithfully represent company activities.

解释:

B is correct. Earnings quality pertains to the earnings and cash generated by the company’s actual economic activities and the resulting financial condition. Low-quality earnings are likely not sustainable over time because the company does not expect to generate the same level of earnings in the future or because earnings will not generate sufficient return on investment to sustain the company. Earnings that are not sustainable decrease company value. Earnings quality is distinguishable from financial reporting quality, which pertains to the quality of the information contained in financial reports.

a为什么不对

1 个答案

王园圆_品职助教 · 2024年02月12日

同学你好,low quality earnings和low-quality financial reporting是完全不同的概念

low-quality financial reporting是指公司提供得财报不能为投资者提供有效的决策信息,可能会误导投资者或是故意模糊关键信息(类似于财务造假,但不一定有财务造假这么严重而已)

low quality earnings只是意味着公司的净利润是不可持续的(譬如主要来源是非经营性收入,或是通过降低必要的研发费用经营费用来挤出利润),而不代表公司在制做报表的时候造假(这属于low-quality financial reporting)