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摇一摇 · 2023年08月09日

为什么asset这里计算的时候还要减去288.7呢

NO.PZ2023020602000107

问题如下:

The following information was taken from the financial statements and notes to the financial statements of a company that accounts for its inventory on a LIFO basis.


If the company had reported on a FIFO basis and the additional tax liability arising from restatement resulted in an immediate reduction in cash, its 2014 return on assets (using 2014 assets only) would be:

选项:

A.6.2%. B.6.4%. C.7.7%.

解释:

The net income and total assets both need to be adjusted to what they would have been under the FIFO method.Return on assets = (Net income/Total assets) × 100= (391.4/6,148.3) × 100= 6.36%Under FIFO, total assets increase by the LIFO reserve but decrease by the cash paid for the cumulative amount of additional income taxes that would arise. Net income will be higher under FIFO as a result of lower COGS—that is, the increase in the LIFO reserve—but will be reduced by the taxes paid on the increase in operating profit.


CFA一级:

为什么asset这里计算的时候还要减去288.7呢

1 个答案

王园圆_品职助教 · 2023年08月09日

同学你好,请看以下讲义截图

LIFO reserve不仅会影响inventory,还会需要对公司历年的现金税费进行调整

由于转成FIFO,COGS就会更低,那税前利润就会更高,应交税费就会更高

而这里黄色的cash相关的调整,其实是对历年产生的LIFO reserve所需要增加的税费进行累计的统一的调整导致的

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