作者kgc ( )
看板CFAiafeFSA
标题Re: [问题] CFA L1 财报分析问题
时间Sun Apr 25 13:02:50 2010
sale of receivable with recourse is one type of "off-balance sheet"
financing, thus interest expense from off-B/S would not be included in
EBIT from B/S(imaging EBIT should include this interest expense, but we
remove it from EBIT).
for ratio analysis, we must add the interest expense to both interst and
EBIT, the treatment is the same as ARO adjustment.
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