ACCA考試中的FR（F7）大題中必有一道ratio分析的題目，如果熟練掌握能夠輕松幫你拿到一定的分數，對通過ACCA的F7考試也有一定的作用，可能多拿幾分就能通過50分。正保會計網校幫你總結一下年中處置/并購子公司的一些常用ratio分析句子~考前背一背，萬一考到這類題目又一緊張想不起寫什么了，這篇文章還能幫你撿回幾分。

年中處置子公司

statement of profit or loss:

Previous year's statement of profit or loss would include a full year's results from the disposed subsidiary.

However, the result for the current year may 

have the subsidiary shown as a discontinued operation or have the results consolidated into income and expenses for the period up to the date of disposal.

The consolidated results may include gain or loss on disposal, which should be stripped out for comparative purposes.

Any cost associated with the disposal, such as professional fees or redundancies, may be included in the current period, which should not be recognized in future periods.

Margins are likely to be incomparable.

statement of financial position:

Previous year's statement of financial position would contain full of the assets and liabilities of the disposed subsidiary.

However, the current year's statement of financial position would contain none of these as the subsidiary will not be controlled at the reporting date.

Cash may be increased by the sales proceeds of the subsidiary.

Ratios such as working capital ratios, ROCE and net asset turnover may be distorted if some of the subsidiary's results are included in the statement of profit or loss, but no asseet or liabilities from the subsidiary will be included in the statement of financial position.

年中并購子公司

statement of profit or loss:

Income and expenses should be increase due to the new subsidiary been included in the year.

However, this will not have a full year's results from the subsidiary, as the results will only be consolidated from the date of acquisition.

Acquisition costs may be included, which affect the performance of the group in the current period.

Margins will be affected as the newly acquired subsidiary is likely to have different margins than the rest of the group.

Future year's statement of profit or loss will include a full year's results from the subsidiary so will show a more accurate reflection of the performance going forward. Any costs associated with the acquisition will not be included, giving a more accurate picture of the underlying performance.

statement of financial position:

Full of the assets and liabilities of the subsidiary will be consolidated at the reporting date

This means that there could be significant increase in assets or liabilities depending on the position of the newly-acquired subsidiary.

Working capital ratios, such as receivables collection period, are likely to change due to the new subsidiary having different payment terms to the rest of the group.

ROCE and net asset turnover may decrease as the subsidiary's profit will be time apportioned but debt held by the subsidiary will be included in full at reporting date.

其他可能用到的tips：

總體思路：計算-->對比，找差異-->找原因，提建議

剔除一次性事件的影響后再進行一次計算和對比

ROCE分為net asset turnover 和net profit margin 分析

revenue變化原因：新產品？新市場？promotional activies？...

gross profit margin變化原因：市場環境？全球經濟？售價變化？采購成本？生產成本？...

net profit margin：變化趨勢和gross profit margin相同否？selling expense? Administration expense? one-off event?