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1、HnarialAssetsCategoryofInvestmentsCInvestmentinAssociatesBusinessCombinationHeld-to-MitufityFinancialAssetsAvailable*for-SaleTracfing SecuritiesR14 Intercorporate InvestmentsEquity MethOd * Irwestment in Associate Goodwflll常考点1：三ItttSi费FH的类；常考点2： Rtt法佃UityMthod). 营(Goodwill)的计fl;常考点3:合并法(Acquisition
2、 Method) MitftB. iWSf的it (Full 900dwill & Pirtial 90OdwiIDrIfi(i;AcquisitionMethodFuNGoodwillBusinessCOmbinatioCG:PartialGoodwillSPE/VIEJointVenture Financial Reporting And AnalysisD6 Pbn Pensiom and OtMr Post-Emptoynwnt Benefits DC PtanOtherPesiPlanFairAssetsPresentatkxifDBPlanonB/SlP60ServiceCostI
3、nterest Cost* R15 Employee Compensation: Post-Employment and Share-Based Peoodk PenSiOn Cost on l/S Past Srvke CostExpected return of Plan Assets常考直1 ： De Plan在责产负住表中的里现.如EK Fund status常考融：Periodic Pension Cost l!. 编1窟下晚t|方法;零萼巨3: MfiifittMKf Periodic Pension cost fftni穿考点4: 于般权第懒：合计姓覆网分析ActuarialGi
4、rvsossesTotalPeriodicPensionCostEffectfchangingAssumptionAccountineMethodUnderHyperinflationEnvironmentStoCkQptionShre-BedCompensationStockGrantsCase1JavierCasado,ananalystwhomanagesfundsforhigh-net-worthinvestors,isevaluatingBardemS.A.(Bardem)asapossibleadditiontoalargeinvestmentportfolio.Bardem,ba
5、sedinMadrid,Spain,isamanufacturingfirmthatspecializesinpackagingmaterials.ThecompanyreportsusingIFRS,anditsreportingcurrencyistheEuro.On2January2016,Bardempurchasedan18%stakeinthenewbondissueofPapelco1aSpanishmakerofspecialtypapersfromwhomBardembuysinventory.Thebonds,whichmatureon31December2023,payi
6、nterestannuallywithacouponrateof4%.Bardempaid5,000,000forthedebt,whichhadaparvalueof4,800,000reflectingayieldtomaturityof3.4%.Bardemclassifiestheinvestmentasheld-to-maturity.CasadoistryingtodeterminetheimpactofthePapelcopurchase,andwondershowitwillaffectBardemsfinancialstatements.CasadolearnsthatBar
7、demacquireda25%stakeinArianaShippingS,A.(Ariana)on1January2017,Ariana,whichisbasedinGreece,hasboughtpackagingsuppliesfromBardeminthepastbasedoncatalogprices,CasadobelievesthatthepurchasewillchangetherelationshipbetweenthetwocompaniesandwillalsoaffectBardemSfinancialreporting.Hementionstoacoworker,An
8、aDomingues,thatthepricepaidbyBardemfortheArianashareswas80million.DominguestellsCasadothatBardemSpurchaseofArianasequitywilllikelyallowBardemtoinfluenceArianaSfinancialandoperatingperformance.Asaresult,shestates,Bardemwillberequiredtousetheequitymethodofaccountingforthisinvestment.Casadorepliesthatt
9、heequitymethodofaccountingisonlyrequiredunderIFRSforjointventuresorwhentheinvesteeholdsaseatontheassociateSboardofdirectors.Bardempreparesthefollowingtabletoexaminethepurchasemoreclosely.Exhibit1BookValuesandFairValuesofArtanaShippingAssetsandUabIHttesasof31December2016(millions)BookVaIueFairVaIueCu
10、rrenta&sM*1515Plantandequipment230275Land1115M5405LiabilitiesIlOIlONetassets235295DominguessaysthatsheisconcernedthatBardemdidn,tsufficientlyinvestigateArianabeforethepurchase,giveneconomicuncertaintysurroundingGreekcompanies.SheasksCasadowhatwillhappentoBardemSfinancialstatementsifthevalueofArianai
11、spermanentlyimpairedduetobusinesslossesorotherdemonstrableevents,Casadorepliesthatiftheequitymethodisnotrequired,thentherewillbenoimpact.However,iftheequitymethodisused,hestates:1Goodwillmustbeseparatelytestedforimpairment.2Impairmentlossescannotbereversedeveniffairvaluelaterincreases.3Impairmentlos
12、sesexceedingthegoodwillvalueareallocatedpro-ratatotheunitrSnon-cashassets.CasadohaslearnedfromBardemsmanagementthattheyareconsideringthepurchaseof60%ofAshevilleIndustries,Inc.(Asheville),aUS-basedmanufacturerofcorrugatedcardboard,inastock-for-stockacquisition.BardemthinksthatAshevillewillprovideacon
13、sistentsupplyofmaterialforitsboxproductionline.AshevillereportsunderUSGAAP.CasadonotesthatthisacquisitionwillaffectthevaluationmodelshehascreatedforBardem,andwonderswhetherthecompanywillstillbeagoodcandidatefortheinvestmentportfolio.Hepreparesasummaryofbalancesheetdatainadvanceoftheacquisition,withA
14、sheville?sinformationexpressedineuros,(Exhibit2),andstudiesitcarefully.4Exhibit2SelectedBardemandAshevilleBalanceSheetItemsasof31December2016(millions)BardemAshevilleBookValueBookValueFairValueCash20Q303.0Accountsreceivable75X)5.05X)PP&E(Net)110.024.052DominguesinformsCasadoofafinalpieceofinformatio
15、nrelevanttohisevaluation.Toincreaseliquidity,Bardemisconsideringborrowing70Magainstaccountsreceivable.Asanalternativetoborroving,theycouldsecuritizethereceivablesbycreatingaspecialpurposeentity(SPE)overwhichtheywouldexercisecontrol.Todoso,theywouldinvest5MintheSPE.TheSPEwouldthenborrow70M,andwouldbu
16、y75MinreceivablesfromBardem.DominguescommentsthatsecuritizationusinganSPEwouldimpactBardemsreportedfinancialconditioninthreeways.Itwould：1reducethecostofborrowing.2increasethelevelofcurrentassets.3improvebalancesheetratios.SZaePQ.se.93so七-QSEqQJndUIo-yMsriCSUO=UUI=UMPOOMM-IopeaIPCItqljMUISrLCEUEIJwo
17、旨卫口口一!。OPESEU0ssnQDUIEOa-AqIuOUIaElSQqIrtwrtISouIsIPIqAVCEUEMJoSSELPJndS-UIUPJEgilEIUnoUjEoPolPBuiAlInb*dqjc3LrLOqEUOISSSSIPsipUlZOOqoo&。.0007613M0000二3-OJiSaSopSlIq(IJPOUIadEd-so910ZflUOdaH三Mmap:IEs一EqlEulouulllIaUIlSA.SH一4WhichofCasadoSthreestatementsregardingthepotentialimpairmentoftheinvestmenti
18、nArianaismostaccurate?Statement:A2B1C35IfBardempurchasesAsheville,usingtheinformationinExhibit2,thevalue(inmillions)ofPP&Eontheconsolidatedbalancesheetimmediatelyaftertheacquisitionwillbeclosestto:A162.B134.C141.6IfBardemcreatesaspecialpurposeentityratherthanborrowingagainstitsreceivables,whichofDom
19、inguescommentsismostaccurate?Comment:AlB2C3Case2BurtonHoward,CFA,isanequityanalystwithMaplewoodSecurities.HowardispreparingaresearchreportonConfabulatedMaterials,SA,apubliclytradedcompanybasedinFrancethatcomplieswithIFRS.Aspartofhisanalysis,Howardhasassembleddatagatheredfromthefinancialstatementfoot
20、notesofConfabulatedS2009AnnualReportandfromdiscussionswithcompanymanagement.HowardisconcernedabouttheeffectofthisinformationonConfabulatedSfutureearnings.InformationaboutConfabulated,Sinvestmentportfoliofortheyearsended31December2008and2009ispresentedinExhibit1.Aspartofhisresearch,Howardisconsiderin
21、gthepossibleeffectonreportedincomeofConfabulatedsaccountingclassificationforfixedincomeinvestments.Exhibit1.ConfabulatedInvestmentPortfolio(Thousands)CharacteristicBugleAGCathayCorpDuniasSAClassificationAvailable-Ibr-Held-to-Held-to-salematuritymaturityCost*25.00040.00050.000Marketvalue.31December20
22、0829.00038,00054.000Marketvalue.31December200928.00037,00055,000*Allsecuitieswereacquiedatpavalue.Inaddition,ConfabulatedSannualreportdiscussesatransactionunderwhichreceivablesweresecuritizedthroughaspecialpurposeentity(SPE)forConfabulatedSbenefit.7.ThebalancesheetcarryingvalueofConfabulatedSinvestm
23、entportfolio(inthousands)at31December2009isclosestto:A.112,000.B.115,000.C.118,000.8.ThebalancesheetcarryingvalueofConfabulatedSinvestmentportfolioat31December2009wouldhavebeenhigherifwhichofthesecuritieshadbeenreclassifiedasaheldfortradingsecurity?A,Bugle.B.Cathay.C.Dumas.9,ComparedtoConfabulated,S
24、reportedinterestincomein2009,ifDumashadbeenclassifiedasavailable-for-sale,theinterestincomewouldhavebeen:A.lower.B.thesame.C.higher.10.ComparedtoConfabulated,Sreportedearningsbeforetaxesin2009,ifBuglehadbeenclassifiedasaheldfortradingsecurity,theearningsbeforetaxes(inthousands)wouldhavebeen:A.thesam
25、e.B.1,000lower.C.3,000higher.11.ConfabulatedSreportedinterestincomewouldbelowerifthecostwasthesamebuttheparvalue(inthousands)of:A.Buglewas28,000.B.Cathaywas37,000.C.Dumaswas55,000.12.Confabulated,sspecialpurposeentityismostlikelytobe:A.heldoff-balancesheet.B.consolidatedonConfabulated1Sfinancialstat
26、ements.C.consolidatedonConfabulated,SfinancialstatementsonlyifitisaqualifyingSPE.”Case3XYZSA,ahypotheticalcompany,offersitsemployeesadefinedbenefitpensionplan.InformationonXYZ,sretirementplansispresentedinExhibit2.Italsograntsstockoptionstoexecutives.Exhibit3containsinformationonthevolatilityassumpt
27、ionsusedtovaluestockoptions.Exhibit2.XYZSARetirementPlauIuforinatioii2009Employercontributions1.000Cucntseicecosts200Pastsendeecosts120Discountrateusedtoestimateplanliabilities7.00%Benefitobligationatbeginningofyear42.000Benefitobligationatendofyear4L720AcniariallossduetomcreaseiPIanobligation460Pla
28、nassetsatbeginningofyear39.000Planassetsatendofyear38.700Actualreturnonplanassets2.700ExpectedrateofreturnonPIanassets8.%Exhibit3XYZSAolatiliAssumptionsUsedtoalueStockOptionGrantsGrantYearWeightedAverageExpectedVOIatiIity2009VahIationassuptions2005-200921.50%2008vahationassumptions2004-200823.00%13.
29、Theretirementbenefitspaidduringtheyearwereclosestto:A.280.B.3,000.C.4j000.14.Thetotalperiodicpensioncostisclosestto:A.320.B.1,020.C.1j320.15.TheamountofperiodicpensioncostthatwouldbereportedinP&LunderIFRSisclosestto:A.20.B.530.C.1,020.16.Assumingthecompanychoosesnottoimmediatelyrecognisetheactuarial
30、lossandassumingthereisnoamortisationofpastservicecostsoractuarialgainsandlosses,theamountofperiodicpensioncostthatwouldbereportedinP&LunderUSGAAPisclosestto:A.20.B.59.C.530.17.UnderIFRS,theamountofperiodicpensioncostthatwouldbereportedinOCIisclosestto:A.20.B.490.C.1,020.18.Comparedto2009netincomeasreported,ifXYZhadusedthesameexpectedvolatilityassumptionforits2009optiongrantsthatithadusedin2008,its2009netincomewouldhavebeen:A.lower.B.higher.C.thesame.LOUpoo0
