ACCA《財(cái)務(wù)報(bào)告》一課程不僅涵蓋了財(cái)務(wù)會(huì)計(jì)、財(cái)務(wù)報(bào)表、公司合并報(bào)表、分析并解讀財(cái)務(wù)報(bào)表等內(nèi)容，也是對(duì)《財(cái)務(wù)會(huì)計(jì)》的延伸，也是SBR的學(xué)習(xí)基礎(chǔ)。《財(cái)務(wù)報(bào)告》考試主要有以下幾方面的考試內(nèi)容：

　　Section A(每題2分,共15題，）,sectionB（共3道長(zhǎng)題，每題5小題，共15題)。

　　section B的題目是計(jì)算與文字混搭。每道大題中的五個(gè)小題相互不會(huì)有關(guān)聯(lián)?？脊偕踔凉膭?lì)考生先做簡(jiǎn)單文字部分。

　　個(gè)人預(yù)計(jì)sectionB會(huì)根據(jù)以前的大準(zhǔn)則題進(jìn)行改編,比如:flight line,Telepath,Shawler等都是曾經(jīng)比較經(jīng)典題目。SectionA,B題目會(huì)覆蓋整個(gè)syllabus,出鏡可能比較高：

　　■environmental provision滿足capitalizedas PPE/intangible,求期末相關(guān)總expense(即depreciation+interest expense);

　　■區(qū)分capital expenditure和revenue expenditure;

　　■capitalization of planned overhaul expense;

　　■repayment of government grant(兩種方法下都必須掌握！）；

　　■capitalization of borrowing costs onqualifying asset(注意capitalization開始的時(shí)點(diǎn)是三個(gè)條件全滿足后，若相關(guān)工作暫停，capitalization必須暫停，完工時(shí)capitalization終止，和資產(chǎn)有沒(méi)有被使用無(wú)關(guān)。interest income降低CV of asset必須發(fā)生在capitalization period）；

　　■PPE和investment property互轉(zhuǎn)（特別是PPE轉(zhuǎn)成investmentproperty以公允價(jià)值計(jì)量）；

　　■capitalization of development expense(重要考點(diǎn)！PIRATE滿足前的expenses直接進(jìn)入P/L，完工后開始計(jì)提amortization增加當(dāng)期expense);

　　■計(jì)算recoverable value(higher of FVLCOS and value in use)to decide the amount of impairment;

　　■allocation of impairment in cash generatingunit(必會(huì)?。?；

　　■reclassification requirements for NCAs heldfor sale and the definition of discontinued operation;

　　■conceptual framework有可能考哪些treatments滿足fair representation以及principle-based standard setting system的advantages;

　　■區(qū)分change in accounting policy(recognition,presentation andmeasurement)and change in accounting estimate;

　　■measurement of biological asset;

　　■assets outside the scope of IAS41;

　　■finance lease obligation table(withdeposit,both payment in advance and in arrears),straight line amortization ofoperating lease expense with premium or incentive;

　　■sale and finance lease back by using deferred income approach.

　　■Five steps of recognizing revenue（specially variable consideration,financing components and allocation of discount）；

　　■revenue recognized over time;

　　■consignment sales(when the control of asset transferred to dealer);

　　■sale and repurchase(essence=secured loan);

　　■bill and hold arrangement;

　　■four steps of construction contract;

　　■calculation of exchange profit or loss on monetary items;

　　■EPS calculation under rights issue（注意rights issue bonus fraction的計(jì)算）and comparative EPS of previous year;

　　■under full market issue combined with bonus(注意bonus fraction計(jì)算）；

　　■DEPs with convertible bond or share option(注意number offree shares的計(jì)算）；

　　■financial liability measured at amortized cost;

　　■split of equity and debt elements of convertible bond(注意similar bond without conversion回報(bào)率一定會(huì)高）;

　　■measurement of financial asset；

　　■factored receivable(如果壞賬風(fēng)險(xiǎn)沒(méi)有轉(zhuǎn)移給保理人，則本質(zhì)：secured loan);

　　■合并報(bào)表，現(xiàn)金流量表和報(bào)表解析也會(huì)出現(xiàn)在section a特別是special organization之ratio選擇；

　　■Group's profit or loss on disposal of subsidiary應(yīng)該會(huì)出現(xiàn)在六月考試中！

　　SectionC：如果是非合并報(bào)表就會(huì)搭配合并報(bào)表解析，反之亦然

　　準(zhǔn)備非合并報(bào)表：考官在今年四月見面會(huì)中指出考調(diào)整retained earnings或者當(dāng)期net profit的可能性比考整個(gè)損益表的可能性大，剩下SFP或者SOCIE則會(huì)考整表。其實(shí)無(wú)論哪種類型，和考完整報(bào)表編制思路一樣的：先根據(jù)trial balance上余額列好相應(yīng)報(bào)表格式，注意一表一頁(yè)，行行留距！

　　F7報(bào)表考官基本以$'000為單位，workings也以此為計(jì)算單位。Standars adjustments包括：

　　depreciation on PPE,注意使用的方法。有時(shí)候會(huì)涉及revaluation of PPE，注意revaluation發(fā)生時(shí)點(diǎn)，是否需要transfer excess deprecation to retained earnings,以及revaluation gain是否增加當(dāng)期deferred taxliability;

　　the calculation of income tax charge,注意trialbalance上如果current tax出現(xiàn)在debit side說(shuō)明去年under provision了，需要增加今年tax expense.

　　其他常見調(diào)整項(xiàng)：convertible bond:發(fā)行第一年末之liability closing balance;

　　financial liability之issue cost調(diào)整，interest expense以及closing balance都可以很好利用amortized cot table應(yīng)對(duì)。計(jì)算interest expense應(yīng)該使用effective interest rate(即implicit interestrate);

　　如果是financial asset-debt instrument measured at FVTOCI也可以應(yīng)用amortizedtable解決，interest income should be calculated假設(shè)如果以amortized cost進(jìn)行計(jì)量下之interest income,FV movement can be reclassified into P/L on disposal,issue cost should be capitalized on initial recognition;

　　有時(shí)候還涉及對(duì)revenue和期末存貨balance figure調(diào)整或者rights issue。這些調(diào)整項(xiàng)目相互獨(dú)立，意味著如果你struggle with one adjustment,just move on to another one!

　　如果是編制合并報(bào)表，可能其中一張表是整表，另外一張報(bào)表就考某些accounting items在合并報(bào)表中的期末余額?；菊{(diào)整項(xiàng)目包括：

　　deferred consideration,share for share exchange;

　　fair value adjustment of sub's net assets；

　　CV of goodwill at reporting date;

　　CV of NCI at reporting date;

　　group's reserve;

　　investment in associate;

　　intra-group trading:adjustment of unrealized profit,adjustment of intra-group interest,cash in transit,inventoryin transit（調(diào)整recipient賬戶),cancellation of current accounts between group members;

　　mid-year acquisition

　　報(bào)表解析：注意ratios計(jì)算，至多占4-5分，意味大家必須對(duì)公式十分熟悉！如果分析profitability一般從ROCE的變化入手，注意題目中除報(bào)表以外的文字信息，比如current year是否有新增或者出售子公司，如果有，可能會(huì)使得年度間ROCE不可比，特別是mid-year acquisition或者是disposal。記得ROCE=asset turnover*operating profit margin,所以進(jìn)一步要觀察asset turn over和operating profit margin的變化，別忘記無(wú)論收購(gòu)還是出售子公司都可能發(fā)生significant amount of professional expenses但是they are one off in essence。

　　考官要求考生一定要能識(shí)別one off性質(zhì)的gain or expense,比如redundancy costs,disposal profit on sub or NCAs，incremental expenses for bidding an important contract or promoting a new product。而且在收購(gòu)當(dāng)年不可能預(yù)計(jì)的benefits from expected synergy就能立即實(shí)現(xiàn)。如果企業(yè)把profitable的sub處置了,那director的動(dòng)機(jī)是什么？是因?yàn)樽幽腹酒髽I(yè)文化無(wú)法整合還是母公司有可能做了重大戰(zhàn)略調(diào)整，準(zhǔn)備轉(zhuǎn)行，乘子公司還在盈利期將其出售賣個(gè)好價(jià)錢還是什么其他原因？在做liquidity分析前，先看看bank balance的變化，如果bank balance下降幅度比較大，分析一下原因，是收購(gòu)新子公司？增購(gòu)PPE？

　　觀察R/Es的變化，可以得出cash dividends paid,結(jié)合公司資金分配，判斷是否合理。所有和working capital efficiency相關(guān)ratios都有可能被：

　　收購(gòu)，出售子公司

　　使用期末值

　　seasonal trading而扭曲。

　　Over trading是很多過(guò)于追求profit而不使用期限較長(zhǎng)資金企業(yè)通病，如果不解決，進(jìn)入財(cái)務(wù)困境可能極大。財(cái)務(wù)杠桿率要和行業(yè)或者競(jìng)爭(zhēng)對(duì)手?jǐn)?shù)據(jù)比較才有意義。如果一個(gè)企業(yè)處于business風(fēng)險(xiǎn)較高行業(yè)，其一般會(huì)保持低杠桿否則total risk太高。杠桿過(guò)高,企業(yè)可能會(huì)錯(cuò)過(guò)新的投資機(jī)會(huì)，因?yàn)楝F(xiàn)有債權(quán)人會(huì)impose strict covenants?？傊軌?qū)懙膒oints其實(shí)很多，大家一定要化使用考官給到的extra information結(jié)合ratio變化作出解析。

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