ACCA考试中的FR（F7）大题中必有一道ratio分析的题目，如果熟练掌握能够轻松帮你拿到一定的分数，对通过ACCA的F7考试也有一定的作用，可能多拿几分就能通过50分。中华会计网校帮你总结一下年中处置/并购子公司的一些常用ratio分析句子~考前背一背，万一考到这类题目又一紧张想不起写什么了，这篇文章还能帮你捡回几分。

年中处置子公司

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.

年中并购子公司

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：

总体思路：计算-->对比，找差异-->找原因，提建议

剔除一次性事件的影响后再进行一次计算和对比

ROCE分为net asset turnover 和net profit margin 分析

revenue变化原因：新产品？新市场？promotional activies？...

gross profit margin变化原因：市场环境？全球经济？售价变化？采购成本？生产成本？...

net profit margin：变化趋势和gross profit margin相同否？selling expense? Administration expense? one-off event?