NO.PZ2023040501000123
问题如下：
Anish Shah is doing a credit analysis on Silver Maple College (SMC), a mid-sized private university seeking to place a bond issue to finance a new sports facility on campus. SMC is established as a not-for-profit organization and prepares its financial statements using IFRS.
Shah’s credit rating will also consider the quality of SMC’s cash flows. With the planned issuance of a bond, Shah is concerned that attempts may have been made by SMC to increase cash flow from operations. He decides to use a conceptual framework to assess the quality of the financial reports. He starts by reviewing the Statement of Cash Flows and notes that SMC’s principal sources of operating cash inflows arise from tuition fees, investment income from the school’s large endowment fund and, in 2015, the receipt of a significant donation from a graduate in return for the naming rights to the proposed new sports facility. He also notes that investment income was classified as an investing activity in the previous years’ financial statements which were not restated.
Based on his review of the statement of cash flows and the classification of investment income, the most appropriate conclusion Shah can reach on his assessment of the quality of SMC's financial report is that the report is:
选项：
A.within GAAP (generally accepted accounting principles) but contains biased choices.
GAAP and decision useful.
non-compliant accounting.
解释：
SMC follows IFRS which allows investment income to be classified as either an operating activity or an investing activity, therefore the choice is GAAP compliant. But the change in classification could be considered a biased, or opportunistic, choice if the university were trying to increase its cash flow operations in a year when it was issuing debt. The fact that the previous years were not restated would not
He also notes that investment income was classified as an investing activity in the previous years’ financial statements。这句不是说投资收入列为了投资活动这一类嘛，有什么问题吗？
