请问胡老师 face, beginning, companies, interest, market

xieyingzi

Question:At the beginning of the year, two companies issue debt with the same market rate, maturity date and total face value. One issue coupon-bearing bond, other issue zero-coupon bond, all other factors are equal, for the the zero-coupon bond overstate the CFO, does it overstate the interest expense?

Thanks!!

胡老师

利息费用没有高估，因为会计上利息费用不是票面利息，而是按照利息费用＝期初本金余额×债券到期收益率计提的。当然，如果与有票面利率的债券相比，零息债券的利息费用会少一些，因为发行的折价发行的。