NO.PZ2023032701000070
问题如下:
In late 2010, Amersheen announced a significant restructuring charge, estimated at R2 million, that would be reported as part of operating earnings in Amersheen’s 2010 annual income statement.
What was the correct way to treat the estimated R2 million restructuring charge in 2010 valuation report?
选项:
A.
an upward adjustment to book value
B.
an upward adjustment to the cost of equity
C.
to exclude it from the estimate of net income.
解释:
The restructuring charge is a nonrecurring item and not indicative of future earnings. In applying a residual income model, it is important to develop a forecast of future residual income based upon recurring items. Using the net income reported in Amersheen’s 2010 net income statement to model subsequent future earnings, without adjustment for the restructuring charge, would understate the firm’s future earnings. By upward adjusting the firm’s net income, by adding back the R2 million restructuring charge to reflect the fact that the charge is nonrecurring, future earnings will be more accurately forecasted.
我有点confuse了。选项c说要把一次性项目gain从NI剔除,但是我看答案的解释怎么看起来说是要把一次性项目的gain加回?麻烦老师帮忙看看我哪里理解错了。谢谢