问一道题：NO.PZ201602060100001005 第5小题 [ CFA II ]

NO.PZ201602060100001005问题如下 PerByron, CFis equity analyst with a UK-baseinvestment firm. One firm Byron follows is NinMount PLa UK-basecompany. On 31 cember 2018, NinMount pai£320 million to purchase a 50 percent stake in Boswell Company. The excess of the purchase priover the fair value of Boswell’s net assets wattributable to previously unrecorlicenses. These licenses were estimateto have economic life of six years. The fair value of Boswell’s assets anliabilities other thlicenses wequto their recorbook values. NinMount anBoswell both use the pounsterling their reporting currenanprepare their financistatements in accornwith IFRS.Byron is concernewhether the investment shoulaffehis \"buy\" rating on NinMount common stock. He knows NinMount coulchoose one of severaccounting metho to report the results of its investment, but NinMount hnot announcewhimethoit will use. Byron forecasts thboth companies’ 2019 financiresults (exclung any merger accounting austments) will inticto those of 2018. NinMount’s anBoswell’s connseincome statements for the yeen31 cember 2018, anconnsebalansheets 31 cember 2018, are presentein Exhibits 1 an2, respectively.Exhibit 1. NinMount PLC anBoswell Company Income Statements for the YeEn31 cember 2018 (£ millions) Exhibit 2. NinMount PLC anBoswell Company BalanSheets 31 cember 2018 (£ millions)Note: Balansheets reflethe purchase pripaiNinMount, but not yet consir the impaof the accounting methochoice. Baseon Byron’s forecast, NinMount’s 2019 return on beginning equity most likely will the same unr: A.either of the consolitions, but fferent unr the equity metho B.the equity metho consolition with full gooill, anconsolition with partigooill. C.none of the equity metho consolition with full gooill, or consolition with partigooill. A is correct.Net income is the same using any of the choices. Beginning equity unr the equity methois £1,430. Unr either of the consolitions, beginning equity is £1,750 sinit inclus the £320 noncontrolling interest. Return on beginning equity is highest unr the equity metho考点 不同的合并会计报表方法对会计比率的影响解析 ROE=NI/Equity对于分子来说，无论哪种方法下NI都是一样的（上课讲过的结论）。分母equity在equity metho，不存在少数股东权益，equity是归属于母公司本身的equity。而在consolition metho，因为是百分百合并，所以equity中应该在母公司本身的equity基础上再加上少数股东权益。（只要不是100%控股，就会有MI）因此equity metho的equity更小，ROE更大。因为这一题没有gooill（具体可以看第一小问解析），所以无论是partigooill还是full gooill的consolition，计算的MI没有区别，因此两种计量方法下的equity一样。综上，不管是哪种gooill方法的consolition，ROE都一样，但equity metho算的ROE不一样，A正确。【知识点提示】假设题目中存在gooill，那么full gooill金额更大，所以对应的MI的金额也更高，在这种情况下，consolition with full gooill的equity比paritigooill更高。 老师，里的这句话，“在equity metho，不存在少数股东权益，equity是归属于母公司本身的equity。”我想再确认一下，equity metho里的equity是除了母公司的，还包括子公司归属于母公司的利润这一部分的百分比吧？如果子公司有NI，那么NI%就会加到母公司asset中的investment这一项，同样的，母公司的equity就会是母公司的equity加上子公司的NI%是吗？麻烦老师帮我确认下理解对不对，因为我总感觉这个字面理解，这个equity不包含子公司的NI？？？那好像否则资产负债表平不了。

NO.PZ201602060100001005 如果有GW，此题是否应该选择C

NO.PZ201602060100001005 我选了请麻烦翻译一下C是什么意思？谢谢

    我觉得三个方法下的ROE相同，原因如下1.三种方法的NI相同，都是投资%*NI；2.三种方法的Equity也相同，因为equity methoequity不受影响，为1430。consolition with full/partial会影响MI，从而影响Equity，但此题无GW，因此Equity也是1430.综上，三个方法下的ROE相同。但答案选A，请问我的理解哪里出了问题呢？

    请问以下的理解对吗？“如果本题存在Gooill的话，Full GW情况下的Equity=50%NI子+Full GW；而PartiGW的Equity=50%NI子+PartiGW. ” 还是说GW是包含在MI里的？应该是“总的MI=50%MI+Partial/Full GW”  谢谢。