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1、Chapter175. ProblemOne:InformationcontainedinFinancialStatementsListtendifferentitemsyouwouldexpecttofindinanaverageannualreporttoshareholders. ProblemOne:InformationcontainedinFinancialStatements Exercise1-3(25minutes)a.Currentratio:$30,800+$88,500+$111,500+$9,700$128,90
2、02006:=1.9to1$35,625+$62,500+$82,500+$9,375$75,2502005:=2.5to1$36,800+$49,200+$53,000+$4,000$49,2502004:=2.9to1b.Acid-testratio:$30,800+$88,500$128,9002006:=0.9to1Chapter175. ProblemOne:InformationcontainedinFinancialStatementsListtendifferentitemsyouwouldexpecttofindinan
3、averageannualreporttoshareholders. ProblemOne:InformationcontainedinFinancialStatements Exercise1-3(25minutes)a.Currentratio:$30,800+$88,500+$111,500+$9,700$128,9002006:=1.9to1$35,625+$62,500+$82,500+$9,375$75,2502005:=2.5to1$36,800+$49,200+$53,000+$4,000$49,2502004:=2.9t
4、o1b.Acid-testratio:$30,800+$88,500$128,9002006:=0.9to1$35,625+$62,500$75,2502005:=1.3to1$36,800+$49,200$49,2502004:=1.7to1AnalysisandInterpretation:Mixon'sshort-termliquiditypositionhasweakenedoverthistwo-yearperiod.Boththecurrentandacid-testratiosshowdecliningtrends.Alth
5、oughwedonothaveinformationaboutthenatureofthecompany'sbusiness,theacid-testratioshiftfrom‘1.7to1’downto‘0.9to1’andthecurrentratioshiftfrom‘2.9to1’downto‘1.9to1’indicateapotentialliquidityproblem.Still,wemustrecognizethatindustrystandardsmayshowthatthe2004ratiosweretoohigh
6、(insteadof2006ratiosastoolow).Chapter270. ProblemTwo:EarningsManagementEarningsmanagementcanbedefinedasthe"purposefulinterventionbymanagementintheearningsprocess,usuallytosatisfyselfishobjectives"(Schipper,1989).Earningsmanagementtechniquescanbeseparatedintothosethatare"c
7、osmetic"(withoutcashflowconsequences)andthosethatare"real"(withcashflowconsequences).Themanagementofacompanywishestoincreaseearningsthisperiod.Listthree"cosmetic"andthree"real"techniquesthatcanbeusedtoachievethisobjectiveandexplainwhytheywillachievetheobjective. ProblemTw
8、o:EarningsManagementCosmetic(non-cashflow)techniqueswouldbe:●Decreaseestimatedbaddebtexpense●Dec
