Did anyone notice that in the ratios section of reading 53 page 198 includes Operating Income/Sales which defines operating income as (sales - Cost of Goods Sold (before depreciation and amort) - sg&a - R&D) or (just EBIT + Depreciation and Amort)? This seems to conflict with reading 25 in FSA where it consistently defines operating income/profit as EBIT (page 293). I suppose in the exam we’ll have to plug both and see which answer is given. Please advise on any feedback.作者: anish 时间: 2013-4-4 00:31
I think certain ratios are defined differently in reading 53, and in particular, one of the EOC questions. For the exam, we are told to use the ratios in the front of the FRA book, unless the problem states differently.
