NO.PZ2018103102000063
问题如下：
In late 2017, TMT announced a significant restructuring charge, about 0.5 millions, that would be reported as part of operating earnings in its 2017 annual income statement. Therefore, Jacques wants to update the earlier valuation of TMT, What was the correct way to account the estimated 0.5 million restructuring charge in 2017 valuation report?
选项：
A.an upward adjustment to book value.
B.an upward adjustment to the cost of equity.
C.exclude it from the estimate of net income.
解释：
C is correct.
考点：RI
解析：C是正确的。重组费用是一个非经常性项目，不应体现在未来收益中。在使用剩余收益模型进行估值时，未来剩余收益应基于经常性项目进行预测。使用TMT公司2017年净利润报告中的净利润来估计未来的盈利，而不加回重组费用，将会低估公司未来的盈利。因此通过向上调整公司的NI(通过增加0.5 million的重组费用),未来的收益的预测将更加准确。
从NI加回不就是相当于利润表BV数值调高了么？
