NO.PZ2016012101000208
问题如下:
To properly assess a company’s past performance, an analyst requires:
选项:
A.high earnings quality.
B.high financial reporting quality.
C.both high earnings quality and high financial reporting quality.
解释:
B is correct.
Financial reporting quality pertains to the quality of the information contained in financial reports. If financial reporting quality is low, the information provided is not useful to assess the company’s performance. Financial reporting quality is distinguishable from earnings quality, which pertains to the earnings and cash generated by the company’s actual economic activities and the resulting financial condition.
解析:报表质量高意味着财务报表遵循会计准则的,而且是对决策有用的。收益质量高要求企业的盈利多且具有可持续性。
这道题问的是,如果分析师想要一个公司过去的业绩进行分析,那么一个必要的前提是什么。
报表质量和盈利质量都高当然是很好的,但是分析师在分析之前,并不要求盈利质量,只需要报表质量高即可。报表质量高的话,分析师才能进一步分析盈利质量,至于盈利质量高或者低,在分析之前是不要求的,这是之后的一个分析结果。
分析师要看公司的performance,不需要看盈利质量吗?
而报表质量又是前提,所以二者不是应该都看吗?