《CFA一級之國際財務報表分析》第一章：財務報表分析概述之知識點b-PartB

01-30

作者：上海商學院高翔副教授，CFA，FRM，CAIA；美國西弗吉尼亞大學周昆教授，CFA

微課：www.theanalystspace.com

One week no see，大家好！感謝題圖中劉老爺子饋贈的墨寶。上周的兩道練習題答案分別為第一題A和第二題B。上周文章點我。

Question 1: Which of the following statements is CORRECT?

A. Liabilities are future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past transactions or events

B. Stockholders equity includes the residual interest in the net assets of an entity that remain after deducting short-term liabilities

C. Assets are probable future economic benefits to be obtained or controlled by a particular entity as a result of future transactions or events

答案解析：A為正確選項，B選項錯在Stockholders Equity應當是減去所有債務（而不僅僅是短期負債）之後的residual interest，第一題中C選項錯在Assets是由所有過去（而不是未來）發生的交易或事件造成的能夠在未來帶來收益的資源。

Question 2: Which of the following would be found on a firms balance sheet?

I. Net income

II. Total assets

III. Accounts payable

IV. Cost of goods sold

A. II only

B. II and III only

C. I, II, and III only

答案解析：B為正確選項，凈收入net income和已售出商品成本cost of goods sold都應當屬於收入表的科目，資產合計total assets是作為一個subtotal列示在資產負債表上的，且應付賬款accounts payable也是作為負債的一個重要組成部分單獨列示於資產負債表上的。

這周我們接著來講講第一章中知識點b的B部分，即收益表和其他綜合收入。

LOS b

Describe the roles of the statement of financial position, statement of comprehensive income, statement of changes in equity, and statement of cash flows in evaluating a companys performance and financial position

Part A: Balance Sheet
Part B: Income Statement and Other Comprehensive Income
Part C: Statement of Changes in Equity
Part D: Cash Flow Statement

知識點 b

分別描述財務狀況表、綜合收入表、股東權益變動表以及現金流量表這四大類財務報表在評估一家公司的業績和財務狀況時的作用

A部分：資產負債表
B部分：收益表和其他綜合收入
C部分：股東權益變動表
D部分：現金流量表

知識點 b-Part B 詳述

The statement of comprehensive income, under IFRS, can be presented either as a

single statement of comprehensive income, or as two component statements: an income statement and a statement of comprehensive income that begins with net income from income statement. In our illustration below, we assume that company C chooses the latter format.

在國際財務報告準則之下，反映公司綜合收益的報表既可以由單個的一張綜合收益表來體現，也可以由兩張報表（即一張利潤表和一張從利潤表中的凈收入科目開始繼續記錄的綜合利潤表）所組成的一個集合來體現。在下列的舉例說明之中，我們假設公司C選擇的是第二種格式，即利用兩張報表的集合來體現其綜合收益的情況。

Income Statement --- 收益表

The income statement presents how much revenue (gains for the delivery of goods or services from normal business activities) and other income (gains may or may not arising from ordinary activities) the company generated over a period of time and how much expenses (e.g., cost of sales, administrative expenses, income tax expenses, and losses that may be included) it incurred to generate that revenue and other income.

收益表列式的是一家公司在一段時期內所產生的收益（從事正常商業行為時從商品或服務交付中獲取的收益）和其他收入（這筆收益可能來自於日常的經營活動，也可能來自於非日常的經營活動）的數額，以及該公司為獲取這兩筆收益所發生的各類支出（例如，產品銷售成本、行政管理費用、所得稅支出以及可能會包含在日常經營活動中的種種損失）。

A consolidated income statement means that, for subsidiaries that are controlled by (have more than 50% voting shares held by) the parent reporting company, each line item (either income or expense item) of the parent companys income statement should include the entire amount from the corresponding line item on the subsidiarys income statement (after inter-company transactions are removed). However, if the parent does not own 100% of the subsidiary, then the parent should present minority interests along with the net income attributable to parent company shareholders.

有時我們會提到合併收益表，那麼合併二字的意思是：對於那些受母公司（即編製財務報表的主體）掌控的各家子公司來說（母公司持有了子公司超過50%的有投票權的股份），母公司收益表上的每條科目（不管是收入類還是支出類科目）的總額都應當已經包含了子公司收益表上對應科目的數值（需要把所有母子公司間的交易排除在外）。但是，如果母公司並未持有一家子公司100%的股權，那麼這家母公司在彙報流入其母公司持股股東手中的凈收入的時候，也應在該條會計科目的旁邊彙報屬於子公司少數股東的權益數額。

The basic equation underlying the income statement is Revenue + Other income - Expenses = Income - Expenses = Net Income. Net income is also referred to as net earnings, net profit (net loss if expenses are larger than revenue plus other income), or profit or loss, so the income statement can be sometime called the statement of operations or the profit and loss statement.

收益表中蘊含的基本關係式為：收益 + 其他收入 – 各項支出 = 總收入 – 各項支出 = 凈收入。凈收入也可以被稱作凈收益、凈利潤（如果各項支出大於收益與其他收入之和的話就是凈損失），或者損益，所以收益表有時也被稱為經營情況表或者損益表。

https://www.zhihu.com/video/922761489339801600

公司C的收益表（依照國際財務報告準則編製）

The difference between earnings and expenses can be defined at different levels for

company C. For example, gross profit is sales revenue minus cost of sales, operating
profit is gross profit plus other operating income minus operating costs and expenses (since operating profit represents earnings from normal business activities before deducting interest expenses and taxes, it is also referred to as earnings before interest and taxes, EBIT), profit before tax is operating profit plus profits generated by investing and other financial activities then minus financial costs (interest expense), and the profit after tax (net income) is profit before tax minus tax expenses.

公司C收益和支出的差額在不同的層面上可以有不同的定義。例如，毛利潤指的是銷售收入減去產品銷售成本，營業利潤指的是毛利潤與其他運營收入之和減去各項運營成本和費用（由於營業利潤代表的是在扣除利息支付和稅費之前由正常經營活動所產生的收益，所以營業利潤也被稱為息稅前收益），稅前利潤指的是與營業利潤與投資和其他理財活動利潤之和減去投融資的成本（投融資的成本主要就是支付借款利息），稅後利潤（也稱為凈收入）指的是稅前利潤減去各類稅費。

During 20X7, if we add the absolute amount of loss (49 million) attributable to minority interest ownership in subsidiaries back to company Cs profit after tax (911 million), then the profit of parent company is actually 960 million (of which 703 million is attributable to ordinary-type shareholders and the rest 257 million to the preferred-type). In summary, company C is profitable in both 20X6 and 20X7, though its profits decrease due to the global financial crisis in 20X7.

在20X7年中，如果我們把子公司的少數股東權益所造成的損失數額（49百萬歐元）的絕對值重新納入到公司C的稅後利潤（911百萬歐元）之中，那麼母公司的利潤就會變成960百萬歐元（其中703百萬歐元應當分配給持有普通股的股東，而剩下的257百萬歐元應當分配給持有優先股的股東）。總之，公司C在20X6和20X7這兩年都實現了盈利，儘管其20X7年的利潤值因某些外部事件（例如，一次全球性金融危機）的影響降低了。

Other Comprehensive Income --- 其他綜合收益

The statement of comprehensive income includes all items that can affect shareholders equity but are not the result of transactions with shareholders. Some of these items have already been included in calculating the net income on the income statement, while the rest items are included in other comprehensive income (OCI). Under IFRS, when comprehensive income is presented in two statements, the second statement, i.e., the statement of comprehensive income, begins with the profit or loss from the first statement, i.e., the income statement. Under US GAAP, this two-statement format is also preferred, and if the reporting company does not want to present OCI in a separate statement of comprehensive income, it can present OCI as a component of the statement of changes in equity.

綜合收益表涵蓋的是所有能夠影響股東權益額大小的各類事項（股票在股東之間易手對股東權益所造成影響是被綜合收益報表排除在外的）。這些事項中的一部分已被計入到了收益表上的凈收入科目之中，而那些未被計入凈收入的事項就要被放入綜合收益表上的其他綜合收益這一科目之中。根據國際財務報告準則的要求，當綜合收益是在兩張表中呈現的時候，第二張報表，即綜合收益報表，的列式是從第一張表，即收益表，上的損益科目開始計算的。美國公認會計準則推薦公司使用這種雙表格式來呈現綜合收益，且如果彙報公司不想在一張單獨的綜合收益報表中呈現其他綜合收益，其也可以把其他綜合收益列為股東權益變動表的一個科目。

https://www.zhihu.com/video/922779688814903296

公司C的綜合收益表（依照國際財務報告準則編製）

難忘今宵BGM又響起。。。

下周我們繼續知識點b的part C部分內容，我們可能不太常見的股東權益變動表，照例先來他幾道題目練練手！

Practice Questions 練習題

Question 3: Which of the following items would NOT be found on the income statement?

A. Earnings Before Interest and Taxes

B. Goodwill

C. Interest Expense

Question 4: The income statement is best used to evaluate a companys:

A. Current financial position

B. Sources of cash flow

C. Financial results from business activities

Question 5: Which of the following is NOT an item that is treated as other comprehensive income?

A. Realized holding gains and losses on available-for-sale securities

B. Unrealized G/L on derivatives contracts which are accounted for as hedges

C. Foreign currency translation adjustments