"Financial Report":Forecasts

來源: 正保會計(jì)網(wǎng)校編輯：小鞠橘桔 2021/03/05 09:17:34　字體：大小

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Questions 1:

Selected information for a company and its industry’s average return on equity (ROE) is provided:

Financial Report:Forecasts

Which of the following is most likely a contributor to the company’s inferior ROE compared with that of the industry? The company’s lower:

A、 financial leverage.

B、 tax burden ratio.

C 、interest burden ratio.

Questions 2:

When forecasting earnings, an analyst’s best approach is to:

A 、establish a precise forecast based on the results of economic and financial analysis.

B、 calculate a range of possibilities based on the results of financial analysis.

C 、utilize the results of financial analysis and professional judgment.

View answer resolution

【Answer to question 1】A

【analysis】

A is correct. Compare the three specified components from the five-way DuPont analysis:

Financial Report:Forecasts

The lower financial leverage ratio relative to the industry is one of the causes of the company’s poor relative performance.

B is incorrect, as per table. C

is incorrect, as per table.

【Answer to question 2】C

【analysis】

C is correct. Forecasts are not limited to a single point estimate but should involve a range of possibilities. The results of financial analysis are integral to this process, along with judgment of the analysts.

A is incorrect. Forecasts should involve a range of possibilities and should not be based solely on economic and financial analysis.

B is incorrect. While analysts should derive a range of possibilities, they should not rely solely on financial analysis.

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