Q1. In the financial statement analysis framework, using the data to address the objectives of the analysis and deciding what conclusions or recommendations the information supports is best described as:

A)   processing the data.

B)   analyzing and interpreting the data.

C)   reporting the conclusions.

Q2. The step in the financial statement analysis framework of “processing the data” is least likely to include which activity?

A)   Acquiring the company’s financial statements.

B)   Making appropriate adjustments to the financial statements.

C)   Preparing exhibits such as graphs.

Q3. The step in the financial statement analysis framework that includes making any appropriate adjustments to the financial statements and calculating ratios is best described as:

A)   analyzing and interpreting the data.

B)   processing the data.

C)   gathering the data.

Q4. Which of the following is the best description of the financial statement analysis framework?

A)   State the objective and context, gather data, process the data, analyze and interpret the data, report the conclusions or recommendations, update the analysis.

B)   Gather data, analyze and interpret the data, process the conclusions, assess the context, report the recommendations, update the analysis.

C)   Gather data, analyze and interpret the data, determine the context, report the conclusions, update the analysis.

答案和详解如下：

Q1. In the financial statement analysis framework, using the data to address the objectives of the analysis and deciding what conclusions or recommendations the information supports is best described as:

A)   processing the data.

B)   analyzing and interpreting the data.

C)   reporting the conclusions.

Correct answer is B)

The financial statement analysis framework consists of six steps:

1.      State the objective and context. Determine what questions the analysis is meant to answer, the form in which it needs to be presented, and what resources and how much time are available to perform the analysis.

2.      Gather data. Acquire the company’s financial statements and other relevant data on its industry and the economy. Ask questions of the company’s management, suppliers, and customers, and visit company sites.

3.      Process the data. Make any appropriate adjustments to the financial statements. Calculate ratios. Prepare exhibits such as graphs and common-size balance sheets.

4.      Analyze and interpret the data. Use the data to answer the questions stated in the first step. Decide what conclusions or recommendations the information supports.

5.      Report the conclusions or recommendations. Prepare a report and communicate it to its intended audience. Be sure the report and its dissemination comply with the Code and Standards that relate to investment analysis and recommendations.

6.      Update the analysis. Repeat these steps periodically and change the conclusions or recommendations when necessary.

Q2. The step in the financial statement analysis framework of “processing the data” is least likely to include which activity?

A)   Acquiring the company’s financial statements.

B)   Making appropriate adjustments to the financial statements.

C)   Preparing exhibits such as graphs.

Correct answer is A)

The financial statement analysis framework consists of six steps. Step 2: “Gather data” includes acquiring the company’s financial statements and other relevant data on its industry and the economy. Step 3. “Process the data” includes activities such as making any appropriate adjustments to the financial statements and preparing exhibits such as graphs and common-size balance sheets.

Q3. The step in the financial statement analysis framework that includes making any appropriate adjustments to the financial statements and calculating ratios is best described as:

A)   analyzing and interpreting the data.

B)   processing the data.

C)   gathering the data.

Correct answer is B)

The financial statement analysis framework consists of six steps:
1. State the objective and context. Determine what questions the analysis is meant to answer, the form in which it needs to be presented, and what resources and how much time are available to perform the analysis.
2. Gather data. Acquire the company’s financial statements and other relevant data on its industry and the economy. Ask questions of the company’s management, suppliers, and customers, and visit company sites.
3. Process the data. Make any appropriate adjustments to the financial statements. Calculate ratios. Prepare exhibits such as graphs and common-size balance sheets.
4. Analyze and interpret the data. Use the data to answer the questions stated in the first step. Decide what conclusions or recommendations the information supports.
5. Report the conclusions or recommendations. Prepare a report and communicate it to its intended audience. Be sure the report and its dissemination comply with the Code and Standards that relate to investment analysis and recommendations.
6. Update the analysis. Repeat these steps periodically and change the conclusions or recommendations when necessary.

Q4. Which of the following is the best description of the financial statement analysis framework?

A)   State the objective and context, gather data, process the data, analyze and interpret the data, report the conclusions or recommendations, update the analysis.

B)   Gather data, analyze and interpret the data, process the conclusions, assess the context, report the recommendations, update the analysis.

C)   Gather data, analyze and interpret the data, determine the context, report the conclusions, update the analysis.

Correct answer is A)

The financial statement analysis framework consists of six steps:

1.      State the objective and context.

2.      Gather data.

3.      Process the data.

4.      Analyze and interpret the data.

5.      Report the conclusions or recommendations.

6.      Update the analysis.

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