財(cái)務(wù)報(bào)告與分析中章節(jié)的設(shè)置是循序漸進(jìn)、逐層深入的，前面介紹的術(shù)語在后面還會(huì)有詳細(xì)的解釋與探討。
由于財(cái)務(wù)報(bào)告與分析本身自立體系，它是上市公司和報(bào)表使用人之間溝通交流的語言，所以學(xué)起來與外語學(xué)習(xí)有幾分相似。
財(cái)務(wù)報(bào)告與分析一共分為四大部分：
第一部分是掃盲階段，主要介紹財(cái)務(wù)術(shù)語、體系等基本知識(shí)。
在此基礎(chǔ)上，第二部分更深入地講解財(cái)務(wù)報(bào)表編制以及財(cái)務(wù)報(bào)表分析的方法。
進(jìn)一步地，第三部分針對存在利潤操縱空間的重點(diǎn)科目做詳細(xì)、深入的討論。
最后，第四部分是前面三部分內(nèi)容的綜合應(yīng)用。
四大部分在考試中占比最大的是第二部分和第三部分，大概占財(cái)報(bào)分析所有題目的80%以上。其次是第一部分，占比10%左右。
由于第四部分是財(cái)務(wù)分析的綜合應(yīng)用，不太適合一級的出題形式，所以出題比例相對比較少，大概占5%左右。
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CFA財(cái)務(wù)報(bào)表分析練習(xí)題＂Financial Report＂:Treasury Stock

Questions 1:

If a company repurchases its own shares and can reissue them at a later time,these shares are best described as:
A、preferred stock.
B、marketable securities.
C、treasury stock.
【Answer to question 1】C
【analysis】
C is correct.When a company repurchases its own shares and does not cancel them,they are referred to as treasury shares(or treasury stock).A is incorrect.Preferred shares(or preferred stock),a component of equity,are a type of equity interest,that ranks above common shares with respect to payment of dividends and the distribution of net assets upon liquidation.B is incorrect.Marketable securities are financial assets and include investments in debt or equity securities that are traded in a public market.

Questions 2:

Last year,a company’s current ratio was 0.96.Partial information is provided from the company’s balance sheet for the current year:
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No other current assets or current liabilities were reported.Comparing the company’s current ratio this year with the prior year most likely indicates that the company’s ability to meet short-term obligations has:
A、increased.
B、decreased.
C、not changed.
【Answer to question 2】A
【analysis】
A is correct.First identify the current assets:cash and equivalents,inventory,and accounts receivable.Then calculate the current ratio(Current assets/Current liabilities)as follows:
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An increase in the current ratio(from 0.96 to 1.11)most likely indicates a higher level of liquidity and,therefore,an increased ability to meet short-term obligations.
B is incorrect.It excludes the inventory(confusing current ratio with quick ratio)and appears to have decreased:(1950+2,540)/4920=0.91.
C is incorrect.It incorrectly double counts the current portion of the long-term debt,which is already included in total current liabilities,so it appears to be unchanged:(5,440/(4,920+720)=0.964.
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