"Financial Report":IFRS

來源: 正保會計網(wǎng)校編輯：小鞠橘桔 2020/12/28 17:42:29　字體：大小

學(xué)習(xí)是一個不斷積累的過程，每天學(xué)習(xí)一點，每天進步一點！為了幫助大家更高效地備考2021年CFA考試，正保會計網(wǎng)校每日為大家上新CFA習(xí)題供大家練習(xí)。讓網(wǎng)校與您一起高效備考2021年CFA考試，夢想成真！

Questions 1:

Private contracts, such as bank loan agreements, are most likely to provide an effective disciplinary mechanism to insure high financial reporting quality because:

A、 loan covenants require the firm to meet specific financial ratios in order to renew the loan.

B 、lenders monitor managers and pay close attention to the firm’s financial reports.

C、 loan covenants may allow the lender to recover all or part of their investment if certain financial conditions are triggered.

Questions 2:

The International Financial Reporting Standards (IFRS) Conceptual Framework identifies fundamental qualitative characteristics that make financial information useful. Which of the following is least likely to be one of these characteristics?

A 、Faithful representation

B、 Relevance

C、 Materiality

View answer resolution

【Answer to question 1】B

【analysis】

B is correct. The monitoring role of lenders is most likely to insure high-quality financial reports because the lenders inspect financial reports carefully to be sure they are not manipulated.

A is incorrect. The need to meet specific financial ratios may motivate managers to manipulate financial reports to achieve the target ratios.

C is incorrect. The desire to avoid financial triggers may motivate managers to manipulate financial reports so that loan covenants are not violated.

【Answer to question 2】C

【analysis】

C is correct. The two fundamental qualitative characteristics that make financial information useful are relevance and faithful representation. Materiality relates to the level of detail of the information needed to achieve relevance.

A is incorrect. The two fundamental qualitative characteristics that make financial information useful are relevance and faithful representation. Materiality relates to the level of detail of the information needed to achieve relevance.

B is incorrect. The two fundamental qualitative characteristics that make financial information useful are relevance and faithful representation. Materiality relates to the level of detail of the information needed to achieve relevance.

成功=時間+方法，自制力是這個等式的保障。世上無天才，高手都是來自刻苦的練習(xí)。而人們經(jīng)常只看到“牛人”閃耀的成績，其成績背后無比寂寞的勤奮。小編相信，每天都在勤奮練習(xí)，即使是一點點的進步，大家一定可以成為人人稱贊的“牛人”。

下一篇："Financial Report":Sustainable growth ra...