请教:deferred tax到底算不算long term debt?

adjusted, reading, balance, common

最近在看level 1 notes3, 看到reading 37 第204页计算 adjusted long-term debt-to equity ratio的时候，是按balance sheet 里面的long-term debt除以common shareholder's equity得到的；此处我很疑惑，因为notes 3, reading35第188页计算long-term debt to equity又是把balance sheet里面的long-term debt 和deferred tax加起来一起除以common shareholder's equity得出的。
那么deferred tax到底是否该计算入long term debt呢？请大家指点一下，感激不尽！

fyboc

CFA New Member

Rank: 1

UID: 86265
帖子: 58
主题: 2
注册时间: 2008-2-6
最后登录: 2012-9-30

2^#

发表于 2010-3-16 03:16 | 只看该作者

deferred tax is not long-term debt but it is long term liability.

TOP

cassell1986

CFA New Member

Rank: 1

UID: 161349
帖子: 4
主题: 0
注册时间: 2010-3-17
最后登录: 2010-3-24

3^#

发表于 2010-3-18 01:09 | 只看该作者

I think it is mainly because capitalized interest increases the total asset. Therefore, you got more depreciation. Thus, the more deferred tax raised. May be SCHWESER just dont want to make it too complicated.  So they ignored the deffered taxe and simply take the long-term debt rather than both deferred tax and Long-term debt together. Pay attention to the word "ADJUSTED" debt to equity ratio. It is not the same scenario as page 188 does.

TOP

cassell1986