这一题考的点好无聊

问题如下：

Based on Exhibit 2, the proportion of the increase in the 2018 earnings before taxes that comes from the change in the provision for credit losses is closest to:

选项：

A.4.6%. B.7.1%. C.24.8%.

解释：

Solution

C is correct. A decrease in the provision for credit losses would have the effect of increasing earnings before taxes. As shown in the table below, in 2018, EBT increased by $21,800 but the provision for credit losses decreased by $5,400, thus accounting for 24.8% of the change in EBT.

Analysis of Change in EBT and Provision for Credit Losses, in $ Thousands

A is incorrect; it is the change in the provision ($5,400) as a proportion of EBT but does not consider the change in EBT: 5,400 ÷ 117,600 = 4.6%.

B is incorrect; it is the provision for credit losses as a proportion of EBT but does not consider the change in the two values: $8,400 ÷ $117,600 = 7.1%.

中文解析：

这道题考查的是银行的资产质量分析。

题干给了，2014-2018的信贷损失拨备数据和对应的税前利润数据。C同学认为信贷损失拨备是管理层可以行使自由裁量权的估计。需要深入挖掘2018年税前利润的增长中有哪一部分来自于这个估计的变化。看看银行是否使用它们来管理税前利润。 接下来题目问，2018年信贷损失拨备的变化导致的2018年税前收益增长的比例是多少。

它是银行每年计提的信贷损失拨备，计在利润表里，所以会影响银行的净利润。另外，这个数据也是取决于管理层的预期，并不是一个实际发生的损失，所以很容易受到管理层的操纵。

C选项正确，信贷损失拨备的减少将会导致税前收入的增加。2018年，税前利润增加了117600-95800=21,800美元，但信贷损失拨备减少了13800-8400=5,400美元，占EBT变化的5400/21800=24.8%。

A选项错误，未考虑EBT的变化，是直接用信贷损失拨备的变化除以了2018年的EBT。

B选项错误，未考虑EBT和信贷损失拨备的变化，是直接用2018年的两个数相除的。