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ZAA · 2023年03月20日

对加减有疑惑

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NO.PZ201812100100000306

问题如下:

Based on Exhibit 2, Rickards should adjust the operating and financing cash flows by:

选项:

A.

$21 million.

B.

$30 million.

C.

$96 million.

解释:

A is correct.

Rickards’ task is to adjust the balance sheet and cash flow statement information to better reflect the economic nature of certain items related to the pension plan. When a company’s periodic contribution to a plan is lower than the total pension cost of the period, it can be viewed as a source of financing. To reflect this event, the deficit amount is adjusted by the effective tax rate and should be reclassified from an operating cash flow to a financing cash flow. The company’s contribution to the pension plan was $66 million, which is $30 million less than the pension cost of

$96 million. The $30 million difference is $21 million on an after-tax basis, using the effective tax rate of 30%. Therefore, $21 million should be classified as an operating cash outflow (negative value) and a financing cash inflow (positive value).

考点:分析师眼中的现金流归类问题

解析:total pension cost是96,contribution是66。

正常情况会计处理是所有contribution都作为CFO流出,但分析师不这么认为。如果公司往养老金里打的钱(pension contribution)低于欠下的钱(total pension cost),相当于员工给公司融资了,不足的那部分视为a form of borrowing,实质上是公司CFF的流入。

所以调整方向是调减CFO的流出(CFO增加),调增CFF流出(CFF降低)。

由于pension cost是税前列支的,因此还要乘以(1-T)。调整额=(96-66)*(1-30%)=21 million。

【提示】知识点回忆:

Overcontribution: contribution > total periodic pension costs

CFO: + (Contribution - TPPC)× (1-t)

CFF: - (Contribution - TPPC) × (1-t), repayment of borrowing

Undercontribution: contribution < total periodic pension expenses

CFO: - (TPPC - Contribution )× (1-t)

CFF: + (TPPC - Contribution )×(1-t), a form of borrowing

我明白就是说CONTRIBUTION小于COST

就是相当于企业钱不够了,相当于又向员工借钱了


那借钱了是CFF的流入

流入是CFF的加号还是减号?


CFF的流入算作加号

那么CFO算作减号?


我不大明白CFO的本来是代表的是CFO的流入还是流出

就这个账户的现金流是支出就算做减号,CFO有收入就是加号吗

2 个答案

王园圆_品职助教 · 2023年09月03日

同学你好,你哪里看出来CFF最后的值变小了?

题目解析也说了21M是作为CFO的流出项调减CFO,并作为CFF的流入项调增CFF的,没有哪里说CFF值变小了呢

王园圆_品职助教 · 2023年03月20日

嗨,爱思考的PZer你好:


同学你好,无论CFO,CFI还是CFF本身都是没有初始的现金流方向的,就像你最后理解的那样,我们规定是现金流是支出就算做减号,现金有流入就算做加号

所以对应到这个问题上,就是因为contribution小于了TPPC,员工给企业融资了,所以企业的CFF增加了一笔现金流入(+),同时CFO就有一笔现金流出(-)

相当于解析中的这种情况

Undercontribution: contribution < total periodic pension expenses


CFO: - (TPPC - Contribution )× (1-t)


CFF: + (TPPC - Contribution )×(1-t), a form of borrowing



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Phoebe · 2023年09月03日

那这里如果是CFF 调增,从员工那里融资,说明CFF 整体是增加的,问什么CFF 的值反而会变小呢?

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相关问题

NO.PZ201812100100000306问题如下 Baseon Exhibit 2, Rickar shoulaust the operating anfinancing cash flows by: A.$21 million.B.$30 million.C.$96 million. A is correct.Rickar’ task is to aust the balansheet ancash flow statement information to better reflethe economic nature of certain items relateto the pension plan. When a company’s perioc contribution to a plis lower ththe totpension cost of the perio it cviewea sourof financing. To reflethis event, the ficit amount is austethe effective trate anshoulreclassifiefrom operating cash flow to a financing cash flow. The company’s contribution to the pension plw$66 million, whiis $30 million less ththe pension cost of$96 million. The $30 million fferenis $21 million on after-tbasis, using the effective trate of 30%. Therefore, $21 million shoulclassifieoperating cash outflow (negative value) ana financing cash inflow (positive value).考点分析师眼中的现金流归类问题解析totpension cost是96,contribution是66。正常情况会计处理是所有contribution都作为CFO流出,但分析师不这么认为。如果公司往养老金里打的钱(pension contribution)低于欠下的钱(totpension cost),相当于员工给公司融资了,不足的那部分视为a form of borrowing,实质上是公司CFF的流入。所以调整方向是调减CFO的流出(CFO增加),调增CFF流出(CFF降低)。由于pension cost是税前列支的,因此还要乘以(1-T)。调整额=(96-66)*(1-30%)=21 million。【提示】知识点回忆Overcontribution: contribution totalperioc pension costsCFO: + (Contribution - TPPC)× (1-t)CFF: - (Contribution - TPP× (1-t),repayment of borrowingUnrcontribution: contribution totalperioc pension expensesCFO: - (TPPC - Contribution )× (1-t)CFF: + (TPPC - Contribution )×(1-t),a form of borrowing 在这种情况下,公司相当于找员工融资,那公司的CFF 的值应该是增加,因为融到更多现金,为什么CFF会降低呢?

2023-09-03 21:57 2 · 回答

NO.PZ201812100100000306 unrcontribution不应该调增CFF调减CFO吗?

2021-12-27 17:03 2 · 回答

EC和期间pension cost差额要做税后调整,视作雇主向员工融资。那么请问,这个“税后调整”的财务逻辑是什么呢?

2019-02-11 20:48 2 · 回答