Chinazdk · 2024年02月19日
NO.PZ2024011002000033
问题如下：
If a nonfinancial company securitizes its accounts receivables for less than their book value, the most likely effect on the financial statements is to increase:
选项：
A.net income.
B.cash from operations.
C.cash from financing activities.
解释：
The securitization of accounts receivables for less than book value would result in a loss on the income statement, but an increase in the cash from operations, reflecting the proceeds received.资产证券化不就相当于发债？应该是CFF增加吧？
lynn_品职助教 · 2024年02月20日
嗨，努力学习的PZer你好：
“同学说的是对的哈” : 所以C选项正确吗？
指的是前半句对，资产证券化不就相当于发债。
但是这道题影响经营活动现金流其实是因为低于账面价值的价格证券化，因此损益表上产生损失。证券化之后会带来CFF的影响。
1、题目问如果一个非金融公司以低于账面价值的价格证券化其应收账款，对财务报表最可能产生的影响是增加：
A.净利润。 B.经营活动现金流量。 C.融资活动现金流量。
B正确，将应收账款以低于账面价值的价格证券化将在损益表上产生损失，但会增加经营活动现金流量，反映出所获得的收益。
C错误。
----------------------------------------------加油吧，让我们一起遇见更好的自己！
lynn_品职助教 · 2024年02月19日
嗨，爱思考的PZer你好：
资产证券化不就相当于发债？应该是CFF增加吧？
同学说的是对的哈，
但是这道题影响经营活动现金流其实是因为低于账面价值的价格证券化，因此损益表上产生损失。证券化之后会带来CFF的影响。
1、题目问如果一个非金融公司以低于账面价值的价格证券化其应收账款，对财务报表最可能产生的影响是增加：
A.净利润。 B.经营活动现金流量。 C.融资活动现金流量。
B正确，将应收账款以低于账面价值的价格证券化将在损益表上产生损失，但会增加经营活动现金流量，反映出所获得的收益。
2、同学说的等于发债是对的，证券化对CFF的影响主要体现在两个方面：
①证券化可以将资产转化为证券发行吸引投资者购买，并从中获得资金。这些资金可以用于企业的扩张、投资或偿还债务等活动，从而增加了企业的融资来源，对CFF产生积极影响。
②证券化通常涉及到将资产转化为债务证券，例如债券或资产支持证券。这些债务证券会出现在企业的负债表中，影响企业的债务结构和财务状况。根据不同的证券化结构，企业可能需要支付利息或偿还本金，这将对CFF产生影响。
----------------------------------------------努力的时光都是限量版，加油！
Chinazdk · 2024年02月20日
“同学说的是对的哈” : 所以C选项正确吗？
NO.PZ2024011002000033 问题如下 If a nonfinancicompany securitizes its accounts receivables for less ththeir book value, the most likely effeon the financistatements is to increase: A.net income. B.cash from operations. C.cash from financing activities. The securitization of accounts receivables for less thbook value woulresult in a loss on the income statement, but increase in the cash from operations, reflecting the procee receive 如题
NO.PZ2024011002000033 问题如下 If a nonfinancicompany securitizes its accounts receivables for less ththeir book value, the most likely effeon the financistatements is to increase: A.net income. B.cash from operations. C.cash from financing activities. The securitization of accounts receivables for less thbook value woulresult in a loss on the income statement, but increase in the cash from operations, reflecting the procee receive 资产证券化不就是用AR发行个ABS么，这分明是个融资行为，增加CFF呀。从I/S的角度，折价发行ABS，会减少NI，而CFO是在NI的基础上加加减减——其他项目不变的情况下，NI减少，所以CFO减少，也不可能选出B来呀
NO.PZ2024011002000033 问题如下 If a nonfinancicompany securitizes its accounts receivables for less ththeir book value, the most likely effeon the financistatements is to increase: A.net income. B.cash from operations. C.cash from financing activities. The securitization of accounts receivables for less thbook value woulresult in a loss on the income statement, but increase in the cash from operations, reflecting the procee receive 我虽然选对了但是不确定自己理解的对不对，因为看之前的回答也很迷惑。。我理解的securitise accounts receivables是指把accounts receivables卖出去给spe，所以原公司cfo增加，但是因为后续是spe再发债，所以并不会影响原公司的cff
NO.PZ2024011002000033 问题如下 If a nonfinancicompany securitizes its accounts receivables for less ththeir book value, the most likely effeon the financistatements is to increase: A.net income. B.cash from operations. C.cash from financing activities. The securitization of accounts receivables for less thbook value woulresult in a loss on the income statement, but increase in the cash from operations, reflecting the procee receive 同上
NO.PZ2024011002000033 问题如下 If a nonfinancicompany securitizes its accounts receivables for less ththeir book value, the most likely effeon the financistatements is to increase: A.net income. B.cash from operations. C.cash from financing activities. The securitization of accounts receivables for less thbook value woulresult in a loss on the income statement, but increase in the cash from operations, reflecting the procee receive 1
