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dotamasta

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tT
发表于 2013-4-1 13:18 | 只看该作者

CFAI Mock AM - Operating Income

sales, always, income, should
For q14, operating income = sales - cogs- sg&a - r&d
In exhibit 2 of the vignette for q’s 31-36, operating income deducts depreciation.
I always thought depr. should be deducted to arrive at operating income. Which way is right?

 

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SeanWest

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发表于 2013-4-1 13:18 | 只看该作者
I haven’t worked the mock yet but, depr is an operating expense so it should be deducted to reach EBIT.

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BelalM

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发表于 2013-4-1 13:18 | 只看该作者
Ya this tripped me up too, can anyone clarify?

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Windjam

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发表于 2013-4-1 13:18 | 只看该作者
Agreed I used ebit as operating income but still chose c due to ltd ratio having more to do with credit worthiness than oi/sales. I always thought oi= ebit but I guess not

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kkn006

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发表于 2013-4-1 13:18 | 只看该作者
Yeah I still got the q right but I was just asking for clarification of the definition. I’m still going to assume op profit = EBIT. That’s pretty much the definition everywhere else.

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soverby

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6#
发表于 2013-4-1 13:18 | 只看该作者
I had the exact same question, but forgot to post it.
Gotta go with EBIT = operating income
The new equity/private equity section helps, too.
S - cogs = GP
GP - SGA = pro forma EBITDA
pro forma EBITDA - depreciation = EBIT!

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