CFA L1 財報分析問題 - 金融分析師

sale of receivable with recourse is one type of "off-balance sheet"

financing, thus interest expense from off-B/S would not be included in

EBIT from B/S(imaging EBIT should include this interest expense, but we

remove it from EBIT).

for ratio analysis, we must add the interest expense to both interst and

EBIT, the treatment is the same as ARO adjustment.


--