2020年CFA考试《CFA一级》考试共240题，分为单选题。小编为您整理Financial Statement Analysis5道练习题，附答案解析，供您备考练习。

1、An analyst does research about accrual accounting.The accrued expense accountis most likely recorded:【单选题】

A.as an asset on the balance sheet.

B.on the income statement.

C.as a liability on the balance sheet.

正确答案:C

答案解析:权责发生制（accruals）共包括以下4种情况：
（1）预收账款（unearnedrevenue）——负债类账户
已经收到现金，但是没有确认销售收入，因为销售的过程还没有完成。
（2）待摊费用（prepaid expense）——资产类账户
现金已经支付，但费用不能马上全部确认，而是应该在一定期限内分摊。
（3）应计收入（accruedrevenue）——资产类账户
企业已经提供产品或服务，但现金还没有收到。
（4）应计费用（accruedexpense）——负债类账户
企业当期应支付，但尚未支付的费用。

2、The following information is available about a manufacturing company:

If the company is using International Financial Reporting Standards (IFRS), instead of U.S. GAAP, its cost of goods sold ($ millions) is most likely:【单选题】

A.the same.

B.0.3 lower.

C.0.3 higher.

正确答案:A

答案解析:“Inventories,” Michael A. Broihahn
2012 Modular Level I, Vol. 3, pp. 416–418
Study Session: 9-29-f
Describe the measurement of inventory at the lower of cost and net realisable value.
A is correct. Under IFRS, the inventory would be written down to its net realizable value ($4.1 million), whereas under U.S. GAAP, market is defined as current replacement cost and hence would be written down to its current replacement cost ($3.8 million). The smaller write down under IFRS will reduce the amount charged to the cost of goods sold, as compared with U.S. GAAP, and result in a lower cost of goods sold of $0.3 million.

3、A company is buying back its stocks to offset the dilution of earnings from its stock option program. Which of the following statements best describes the effect on the financial statements of the amount spent to buy back the stocks? The amount spent reduces:【单选题】

A.net income.

B.cash from operating activities.

C.cash from financing activities.

正确答案:C

答案解析:“Understanding the Cash Flow Statement” Thomas R. Robinson, CFA, Jan Hendrik van Greuning, CFA, R Elaine Henry, CFA, and Michael A. Broihahn, CFA
2020 Modular Level I, Vol. 3, pp. 251-252
“Accounting Shenanigans on the Cash Flow Statement,” Marc A. Siegel
2010 Modular Level I, Vol. 3, p. 595-598
Study Session 8-34-a, 10-41
Compare and contrast cash flows from operating, investing and financing activities and classify cash flow items as relating to one of these three categories, given a description of the items.
The candidate should be able to analyze and discuss the following ways to manipulate the
cash flow statement: ·stretching out payables, ·financing of payables, ·securitization of receivables, and ·using stock buybacks to offset dilution of earnings
The amount spent to buy back stocks to offset dilution is classified as a financing activity on the cash flow statement and therefore cash from financing decreases.

4、The following common-size income statement data and tax rates are available on a company.

The profitability ratio that had the largest absolute increase in value in the current year is the:【单选题】

A.operating profit margin.

B.net profit margin.

C.gross profit margin.

正确答案:C

答案解析:The gross profit margin increased the most in the current year:

CFA Level I
"Understanding Income Statements," Elaine Henry and Thomas R. Robinson
Sections 5.5, 7.2
"Financial Analysis Techniques," Elaine Henry, Thomas R. Robinson, and Jan Hendrik van Greuning
Section 4.5

5、The financial statement that would be most helpful to an analyst in understanding the changes that have occurred in a company’s retained earnings over a year is the statement of:【单选题】

A.changes in equity.

B.financial position.

C.comprehensive income.

正确答案:A

答案解析:“Financial Statement Analysis: An Introduction,” Elaine Henry and Thomas R. Robinson
2012 Modular Level I, Vol. 3, pp. 21–22
Study Session 7-22-b
Describe the roles of the key financial statements (statement of financial position, statement of comprehensive income, statement of changes in equity, and statement of cash flows) in evaluating a company’s performance and position.
A is correct. The statement of changes in equity reports the changes in the components of shareholders’ equity over the year, which would include the retained earnings account.