February 2015
Intermediate to advanced
208 pages
4h 53m
English
book
International Financial Statement Analysis Workbook, 3rd Edition
by Thomas R. Robinson, Elaine Henry, Wendy L. Pirie, Michael A. Broihahn
Content preview from International Financial Statement Analysis Workbook, 3rd Edition
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CHAPTER 11 FINANCIAL REPORTING QUALITY
SOLUTIONS
- C is correct. Financial reporting quality pertains to the quality of the information contained in financial reports. High-quality financial reports provide decision-useful information that faithfully represents the economic reality of the company. Low-quality financial reports impede assessment of earnings quality. Financial reporting quality is distinguishable from earnings quality, which pertains to the earnings and cash generated by the company's actual economic activities and the resulting financial condition. Low-quality earnings are not sustainable and decrease company value.
- B is correct. Financial reporting quality pertains to the quality of the information contained in financial reports. If financial reporting quality is low, the information provided is not useful to assess the company's performance. Financial reporting quality is distinguishable from earnings quality, which pertains to the earnings and cash generated by the company's actual economic activities and the resulting financial condition.
- B is correct. Earnings quality pertains to the earnings and cash generated by the company's actual economic activities and the resulting financial condition. Low-quality earnings are likely not sustainable over time because the company does not expect to generate the same level of earnings in the future or because earnings will not generate sufficient return on investment to sustain the company in the future. Earnings that ...
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