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一只可爱的猪 · 2021年05月02日

Exposure指的是面临汇率变动的风险敞口，计算的是有多少资产/负债面临着汇率变动的风险

  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

老师，为什么这里直接减去debt就好了呢？没明白

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1 个答案

纠纠_品职答疑助手 · 2021年05月03日

嗨，努力学习的PZer你好：


586是total asset

162是AP

273是long term debt。

162+273就是total liability。不是光减去debt。

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努力的时光都是限量版，加油！

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