会计数据分析 Solutions_Manual Chapter_8_EOC_Solutions_Manual_update.docx

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会计数据分析 Solutions_Manual Chapter_8_EOC_Solutions_Manual_update.docx

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SolutionsManual–Chapter8

SolutionstoDiscussionQuestions

Answersmayvary.Thefinancialstatementsandthefootnotesaremuchmoreboilerplatewithplentyofrulesandlegalisticjargonandreflectpastperformance.TheM,DA(managementdiscussionandanalysis)ofthefinancialstatementsIsalsointhe10-Kandisheavilyreviewedbythelegalteam.However,theM,DAalsoreflectsexpectationsofthefutureandhowthecompanyisexpectedtoperforminthenearfuture.Managementis,onaverage,moreoptimisticaboutthenearfuturethantherecentpast.WewouldexpecttheM,D,Asectiontobeassociatedwithmorepositivesentimentthanthefootnotesorthefinancialstatements.

Answerswillvaryasthisisuptotheopinionoftheindividual.Sparklinesareasmalltrendlinesummarizingnumbersorstatisticsinagraphwithoutaxes.SparklinesseemmostusefultoreportinthesummaryortheManagement,Discussion,andAnalysissectionofthe10-Kjusttogiveaneffectivesummary.However,theyareprobablylessusefulifthefinancialstatementprepareristryingtousesparklinesforeverynumberonthefaceofthebalancesheetorincomestatement,justbecausethereisalreadysomuchinformationonthatpage.WhiletheSECisinfavorormakingthefinancialstatementsmoreaccessibletoallinvestors,includingthesmallinvestors.

Auditingstandards(e.gSAS132)requiretheauditortoassessanentity’sabilitytocontinueasagoingconcern.Ratiosarefrequentlyusedtoassessthispossibility.Analyticalprocedureswillassessitemslikenegativeprofitabilitytrends(profitabilityratioslikeROAandROS(i.e.,profitmargins)),slow-movinginventory(e.g.,inventoryturnoverratios),receivablecollectabilityproblems(e.g.,accountsreceivableturnoverratios),workingcapitalproblems(e.g.,currentratioandacid-testratio)andsolvencyratios(e.g.,debt-to-equityratios,timesinterestearned).

InterestExpenseisrul