- If a company capitalizes an expenditure related to capital assets instead of expensing it, ignoring taxes, the company will most likely report:
A. the same free cash flow to the firm (FCFF) in that period.
B. a lower cash flow per share in that period.
C. a higher earnings per share in future periods.
答案A. 一个简单的事实：会计记账方法的变化不会改变Cash Flow。不同的会计处理方法，无论是Depreciation方法的改变还是Expense/Capitalized，如果不考虑Tax的变化，只会影响Accounting Balance(Asset, Liabilities, Equity, Income, Expense),不会影响Cash Flow
- Which of the following is least likely to be an acceptable approach for accounting standard setting bodies to use when developing accounting standards?
A. Objectives-oriented
B. Rules-based
C. Revenue/expense-based
答案C
Standard Setting：IFRS属于 Principles-based. 传统上GAAP属于Rule-based, 近年来向Objectives-oriented 转变。C不属于Standard Setting.
15.For a company that prepares its financial statements under IFRS, for which of the following assets is it most likely that it could report using the fair value model?
A. A building owned by the company and leased out to tenants
B. Houses built by the company for sale to customers
C. A building the company owns and uses to house its administrative activities
Answer = A
IFRS允许 Investment property 使用fair Value(市场价格）记账。
Investment Property 定义是公司持有这项不动产的目的是获得租金或者房价升值收益。A项符合。
