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AHC · 2023年10月02日

exposure to translation 公式相关

  1. CFA II
  2. FRA

NO.PZ2018111303000061

问题如下：

Ulta Beauty is a US-BASED corporation that sells cosmetic. Its Canadian subsidiary, Cosmetic firm, operates solely in Canada. It was created on 31 December 2015, and Cosmetic firm uses US dollar as its functional currency. Assume fixed assets were bought when the company was created.

The financial statement information for the years ended 2015 and 2016 on the following table:

If the functional currency were changed, please calculate the balance sheet exposure:

选项：

A.

178

B.

156

C.

151

解释：

C is correct.

考点： current method exposure。

解析：之前美元是functional currency，即LC≠FC=RC，我们选择temporal method。现在如果FC改变，即使用current rate method进行转换。

所以exposure=TA-TL=586-162-273=151

在Temporal Method下面，exposure to translation 公式是 Monetary Asset - Monetray Liability吧，那为啥我们要用total asset 586去减呢

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1 个答案

王园圆_品职助教 · 2023年10月02日

同学你好，首先，题干说“Ulta Beauty is a US-BASED corporation that sells cosmetic. Its Canadian subsidiary, Cosmetic firm, operates solely in Canada. It was created on 31 December 2015, and Cosmetic firm uses US dollar as its functional currency.”也就是最开始，合并报表用的是temporal method，但是题目问的是“If the functional currency were changed, please calculate the balance sheet exposure:”——也就是说现在不用temporal method了，而改用current rate method了，然后再计算exposure的大小，所以本题要求的是current rate method下的exposure，也就是total asset-total liabilities的差额（Equity）*current rate得到这个exposure即可

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