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momo · 2024年02月14日

a

NO.PZ2024011002000145

问题如下:

An analyst is analyzing two companies in the same industry and believes that they have similar strategies regarding the use of property, plant, and equipment (PP&E). He also thinks that the PP&E assets of the two companies are roughly of the same age and have the same expected useful lives remaining. Company A uses the LIFO method of inventory valuation, and Company B uses the FIFO method. The following additional information is available from the companies’ financial statements ($ millions):

In the analyst’s opinion, which of the following conclusions is most appropriate? Compared with Company A, Company B:

选项:

A.is more liquid. B.has a higher quality of earnings. C.uses more aggressive accounting estimates related to PP&E.

解释:

The analyst believes the two companies’ PP&E are of the same age; however, the useful life remaining for Company B’s assets is 15 years compared with 10 for Company A, implying B is using a longer useful life or more aggressive accounting policies.

The more aggressive PP&E estimates combined with the use of FIFO indicate that Company B has a lower quality of earnings, not higher. The adjusted current ratio for Company A (adjusted to include the LIFO reserve to convert the balance sheet to FIFO for comparison) is higher than the current ratio for B, indicating that A is more liquid.

b的是剩余年份长,不应该更不aggressive吗

1 个答案

王园圆_品职助教 · 2024年02月14日

同学你好,同样的固定资产,应该有类似的使用年限

B的剩余使用年限更长,说明每年计提的折旧更少

但是一个公司应该高估费用,低估收入,才是更保守的会计计量方式——既然B的折旧费用计提的更少,说明B低估了费用,也就是更激进(认为自己固定资产能比别的公司多使用很多年,就是很激进的方式)

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