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乐高 · 2024年09月29日

考点

  1. CFA II
  2. FRA

NO.PZ2018111303000061

问题如下：

Ulta Beauty is a US-BASED corporation that sells cosmetic. Its Canadian subsidiary, Cosmetic firm, operates solely in Canada. It was created on 31 December 2015, and Cosmetic firm uses US dollar as its functional currency. Assume fixed assets were bought when the company was created.

The financial statement information for the years ended 2015 and 2016 on the following table:

If the functional currency were changed, please calculate the balance sheet exposure:

选项：

A.

178

B.

156

C.

151

解释：

C is correct.

考点： current method exposure。

解析：之前美元是functional currency，即LC≠FC=RC，我们选择temporal method。现在如果FC改变，即使用current rate method进行转换。

所以exposure=TA-TL=586-162-273=151

​老师想请问下这道题的考点是不是因为从temporal method转换到current method，然后current method的 exposure是MA—ML，并且在temporal method和current method下,B/S全部用current rate，所以这道题算expousure 可以直接拿MA—ML就行了，不需要在乘一个current rate，可以这样理解嘛？

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王园圆_品职助教 · 2024年09月29日

同学你好，你这里的理解“并且在temporal method和current method下,B/S全部用current rate，”开始不对了哦

题目其实就是问current rate method下的B/S exposure怎么计算，顺便考了下temporal method和current rate method的functional currency分别是这么这两个考点

请看以下讲义截图，temporal method下B/S不是全部都用current rate转换的哦，而是要区分non-monetary 和monetary asset/liabilities，然后再转换的哦。只有current rate method才是B/S下的全部资产和负债都是用current rate转换的

另外，exposure本来按照公式本来就不用乘以current rate哦，本身就是对应方法下的资产负债之间做差即可


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