2025年CFA一级财务报表分析专项试卷（含答案）.docx

2025年CFA一级财务报表分析专项试卷（含答案）

考试时间：______分钟总分：______分姓名：______

第一部分

1.CompanyXYZreportedcurrentassetsof$500,000andcurrentliabilitiesof$300,000atthebeginningoftheyear.Attheendoftheyear,currentassetsincreasedto$600,000whilecurrentliabilitiesdecreasedto$250,000.CalculateCompanyXYZscurrentratioatthebeginningandendoftheyear,andcommentonthechangeinitsshort-termliquidityposition.

2.Acompanyhastotalassetsof$2,000,000andtotalliabilitiesof$1,200,000.Ithascommonstockof$800,000andretainedearningsof$400,000attheendoftheyear.Calculatethecompanysdebt-to-equityratioandequitymultiplier.

3.Duringitsfiscalyear,CompanyAreportednetincomeof$150,000.Ithaddepreciationexpenseof$50,000,interestexpenseof$30,000,andanincreaseinaccountspayableof$20,000.Calculateitsoperatingcashflowusingtheindirectmethod.

4.CompanyBhassalesof$1,000,000,costofgoodssoldof$600,000,andgrossprofitmarginof40%.WhatareCompanyBsgrossprofitandgrossprofitmarginbasedoncost?

5.Explainthedifferencebetweenthecashconversioncycleandfreecashflow.Whichofthetwometricsisgenerallyconsideredmoreimportantforevaluatingacompanysshort-termfinancialhealth,andwhy?

6.Acompanysinventoryturnoverratiois6timesperyear.Iftheaverageinventoryfortheyearis$200,000,whatisthecostofgoodssoldfortheyear?

7.Defineaccrualaccounting.Provideoneexampleofanaccrualaccountingadjustmentthatwouldincreaseoperatingcashflowwhencalculatingitusingtheindirectmethod.

8.CompanyPpurchasedapieceofequipmentfor$100,000.Ithasausefullifeof5yearsandnosalvagevalue.Usingstraight-linedepreciation,calculatetheannualdepreciationexpenseandthebookvalueoftheequipmentattheendofyear3.

9.Whatisthepurposeofacommon-sizeincomestatement?Explainhowitdiffersfromastandardincomestatem