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ACCT10001-Accounting reports and analysis
2022 Sem1-作业班 2——— by Rui学姐






Part 1 讲解
Trend analysis calculation revision







Vertical analysis calculation revision
Select anchor item (usually the largest one) and compare other items within the same FS to the anchor
• BS: % relative to total assets (the biggest line item)
• SOPOL: % relative to sales revenue (the biggest line item)




课程内容
1. Assignment 2 Part 1 讲解
2. Assignment 2 Part 2 讲解
3. Assignment 2 模拟真题讲解
4. Assignment 2 做题技巧+易错点总结
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Part 1重点及易错点总结
• 遇到所给数据和所给空白表格 line item分类不一致的情况时，要自行判断分类
• 数据提供不完全的情况下需要自行计算（e.g EBIT）
• 遇到分母或分子求 average的情况时 ,需要将对应两年的数据相加除以二
• 根据 ratio的性质使用 absolute value来计算（e.g. days inventory, interest coverage ratio
etc.）
• 当分母或分子包括两个及以上 line item时记住使用括号（e.g quick ratio）



Part 2 讲解
Student A:
1. Based on your analysis from Part One, what is the EBIT Profit Margin in year 2020 to one decimal place?
答案：
直接从 part 1中取得 => 38.2%

2. Based on your analysis from Part One, is the change in Quick Ratio from 2019 to 2020 an improvement, a
deterioration or no change to one decimal place?
解题步骤：
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列出 ratio 的公式 => 思考这个 ratio 的性质是什么， 数值较大/较小分别代表什么意思 =>比较问题中指定
的两个年份的数据
答案：
Quick ratio =
ℎ+
−
= %

Higher the quick ratio, better the ability to service current liabilities using quick assets available => improvement

Value changed from 1368.3% (2019) to 1069.2% (2020) => a deterioration

3. Based on your analysis from Part One, which of the following transactions and events would result in a
deterioration in Days Inventory in year 2021?
A. an adjustment for doubtful debts at the end of the period
B. the cash sale of a non-current asset for a profit
C. a cash receipt from a customer for amounts owing on goods previously sold on credit
D. A and B only
E. A and C only
F. B and C only
G. All of the above
H. None of the above

解题步骤：
列出问题和选项中指定 ratios的公式及其包括的每个 line items 的分别含义 => 它们被哪些 elements
影响 =>这些 elements之间有没有关系

From question:
Days inventory = (average inventory x365)/cost of sales
Average inventory = average value of inventory held between two period
Cost of sales = cost related to the goods sold
Cause of deterioration: sell less/slower & hold more


Option A:
Allowance for doubtful debt = the amount estimated to be uncollectable => related to trade
receivables in BS, expense (bad debt) in SOPOL => unrelated to the Days inventory
Option A incorrect


Option B:
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non-current asset = long-term assets where FEB is used up beyond 12 months
non-current asset is not inventory; therefore, selling non-current asset won’t incur cost of sales
Option B incorrect


Option C:
cash received for amounts owing on goods = accrued revenue, it is associated with decrease in
receivables and increase in cash
goods already sold before the activity in option C takes place => unrelated to days inventory and cost
of sales
Option C incorrect

Student B
1. Based on your analysis from Part One, what is the Debt to Equity in year 2019 to one decimal place?
答案：
直接从 part 1中取得 => 0.3 times p.a

2. Based on your analysis from Part One, is the change in Interest Coverage Ratio from 2020 to 2021 an
improvement, a deterioration or no change to one decimal place?
解题步骤：
列出 ratio 的公式 => 思考这个 ratio 的性质是什么， 数值较大/较小分别代表什么意思 =>比较问题中指定
的两个年份的数据
答案：
Interest coverage ratio =


=
Higher the interest coverage ratio, better the ability of the entity to generate earnings to cover
financing costs
Value changed from 16.5 times (2020) to 13.6 times (2021) => a deterioration



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3. Based on your analysis from Part One, which of the following transactions and events would result in a
deterioration in Earnings per share in year 2021?
A. the payment of a dividend to the entity’s shareholders
B. selling goods for cash at the normal mark-up
C. the receipt of cash for dividends from other entities
D. A and B only
E. A and C only
F. B and C only
G. All of the above
H. None of the above

解题步骤：
列出问题和选项中指定 ratios的公式及其包括的每个 line items 的分别含义 => 它们被哪些 elements
影响 =>这些 elements之间有没有关系

From question:

Earning per share =
ℎℎ
ℎ . ℎ
= ℎ
Deterioration = Lower the EPS, lower value of the entity


Option A:
Profit available to ordinary shareholders = net after-tax profit
Paying dividend is associated with decrease in retained earnings and decrease in cash => doesn’t
affect net after-tax profit and number of ordinary shares
Option A incorrect


Option B:
Selling good for cash is associated with increase in cash and increase in sales revenue => increase in
gross profit
Number of ordinary shares is irrelevant => keep it constant
EPS improves due to increase in profit available to ordinary shareholders, not deterioration
Option B incorrect

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Option C:
Receiving dividend is associated with increase in cash and increase in other revenue, thus increase in
net profit
Number of ordinary shares is irrelevant
EPS improves due to increase in profit available to ordinary shareholders, not deterioration
Option C incorrect

Part 2重点及易错点总结
• 读清楚所求的是哪一年的数据和 ratio的单位（e.g %? No. times per year?）
• Decimal places 每道题要求的可能都不一样 读题要仔细
• Deterioration vs improvement 不能光看数字大小 要结合 ratio本身判断