FSA 1题 诚恳请教 项目, investment, Investment

Matori

请教老师 notes Book2 p215（5） 我认为B/S里记为Investment项目，应该是Equity Method，那么total asset中cash减少，investment项目增加，数额一样。最终total asset不会变。那么就只要用（468000+363600）/2就可以了。为什么要减去Investment项啊？ 谢谢老师！

胡老师

? If equity income from associates is a significant source of earnings, we should isolate these effects by removing the equity income from our DuPont analysis to eliminate any bias. ? Eliminating the equity income from the investor's earnings permits analysis of the investor's performance resulting exclusively from its own asset base. Assuming the investee is profitable, this adjustment will decrease both the investor firm's earnings and net profit margin. ? without information about how the investment is financed (e.g., debt, stock, cash, or a combination), it would be arbitrary to adjust assets and equity for purposes of calculating financial leverage. Unless the question specifically provides this information, don't adjust the leverage 在此题中，要将Equity投资的因素剔除掉，则总的资产会减少。