NO.PZ201812100100000702
问题如下:
Do either of Webster’s Notes 4 or 5 about Construction Supply describe an accounting warning sign of potential overstatement or non-sustainability of operating income?
选项:
A.No
B.Yes, Note 4 provides a warning sign
C.Yes, Note 5 provides a warning sign
解释:
A is correct.
Neither Note 4 nor Note 5 provides an accounting warning sign of potential overstatement or non-sustainability of operating income.
Increases in operating margins can be a warning sign of potential overstatement or non-sustainability of operating and/or net income. In this case, however, operating margins for Construction Supply have been relatively constant during the last three years.
A growth rate in receivables exceeding the growth rate in revenue is an accounting warning sign of potential overstatement or non-sustainability of operating income. In this case, however, Construction Supply’s revenue growth exceeds the growth rate in receivables.
解析:Note4和5都不是warning sign。Operating margin如果变高,那么有可能是高估operating income或NI,但是Construction公司的该指标保持稳定。如果应收账款的增长率高于营业收入的增长率,那么有可能operating income被高估或者缺乏持续性,但是Construction公司相反,是收入增长率高于应收账款增长率。
老师,为什么只有“应收账款增长率高于收入增长率”时,可能是报表操纵,反之不是呢?
公司更早的确认收入,导致收入增长比应收账款更多,不也是操纵么?