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wowo · 2024年10月13日

股票回购是怎么影响equity的呢?

NO.PZ2023081403000139

问题如下:

Q. What would be the most reasonable explanation of the financial data?

An analyst is evaluating the solvency and liquidity of Apex Manufacturing and has collected the data in Exhibit 1:

Exhibit 1:

Solvency and Liquidity of Apex Manufacturing (euro millions)

选项:

A.The decline in the company’s equity results from a decline in the market value of this company’s common shares. B.The EUR250 increase in the company’s debt from FY3 to FY5 indicates that lenders are viewing the company as increasingly creditworthy. C.The decline in the company’s equity indicates that the company may be incurring losses, paying dividends greater than income, or repurchasing shares.

解释:

C is correct. The decline in the company’s equity indicates that the company may be incurring losses, paying dividends greater than income, or repurchasing shares. Recall that Beginning equity – Shares repurchased + Comprehensive income – Dividends = Ending equity. The book value of a company’s equity is not affected by changes in the market value of its common stock. An increased amount of lending does not necessarily indicate that lenders view a company as increasingly creditworthy. Creditworthiness is not evaluated based on how much a company has increased its debt but rather on its willingness and ability to pay its obligations. (Its financial strength is indicated by its solvency, liquidity, profitability, efficiency, and other aspects of credit analysis.)

是哪一章的内容啊

1 个答案

王园圆_品职助教 · 2024年10月13日

同学你好,

股票回购会导致所有者权益减少,主要是因为公司使用现金回购股票,而这些回购的股票被称为“库藏股”或“自家股票”,它们通常不会计入流通股,因此会减少公司总的股东权益。

 

具体会计处理上,回购股票时,公司的资产(现金)减少,同时库藏股作为负数计入股东权益中的一部分。因此,股票回购后公司的总资产和所有者权益都减少。回购后,股票不会被立即注销,但它不再对股东权益有贡献,最终降低了股东权益总额。


股票回购这个知识点具体公司理财里也会提到更多内容,FSA里好像没有特别强调过,同学通过本题了解一下相关BASE 法则即可哦