中国教育在线

　　美国注册管理会计师(CMA)向来与USCPA和CFA并称为“美国财会领域的三大黄金认证”，在全球将近200个国家得到认可，是成为企业财务高管的敲门砖。在中国想要考取这个证书的考生有福了，因为CMA是世界上唯一中英文两种语言并行的考试。英文变母语，含金量却没有下降，那么是否就要考中文版而可以完全不顾英文呢?

　　并非如此，因为想要进入跨国公司工作的考生将来必然接触到大量的英文资料，证书只是开端，未来工作中的实际应用才是关键。高顿小编在这里为你整理了CMA常见基础词汇，小伙伴们请收藏起来，以后看《经济学人》这样高大上的财经杂志就看得懂了~

　　背过单词之后，来做做高顿题库里的题，试试手吧~据说那种刚背完一个单词，就立马在题目中见到的感觉，妙不可言!

　　【高顿题库】Willis,Inc.,has a desired rate of return of 15%and is considering the acquisition of a new machine that costs$400,000 and has a useful life of 5 years.Willis projects that earnings and cash flow will increase as follows:

　　What is the payback period of Willis’investment?

　　A.1.5 years.

　　B.3.0 years.

　　C.3.3 years.

　　D.4.0 years.

　　答案：B

　　Answer(B)is correct.The payback method calculates the number of years required to complete the return of the original investment.The initial cost is$400,000,so Willis will recoup its investment in 3 years($160,000 in year 1+$140,000 in year 2+$100,000 in year 3).

　　Answer(A)is incorrect because Only$230,000 would have been recovered after 1.5 years.

　　Answer(C)is incorrect because This number of years is not the payback period.

　　Answer(D)is incorrect because This number of years is based on net earnings rather than cash flows.

　　【高顿题库】The Keego Company is planning a$200,000 equipment investment that has an estimated 5-year life with no estimated salvage value.The company has projected the following annual cash flows for the investment:

　　The net present value for the investment is

　　A.$18,800

　　B.$218,800

　　C.$100,000

　　D.$91,743

　　答案：A

　　题目翻译:根据下面给出的数据求投资的NPV

　　考点:NPV的计算方法关键词;net present value

　　解题思路:了解NPV的计算方法,将数据带入计算.

　　Answer(A)is correct.The NPV is defined as the excess of the present value of the net cash inflows over the net cost of the investment.Discounting the future cash inflows by the?present value factors results in an$18,800 NPV($218,800–$200,000).$120,000×.91=$109,200 60,000×.76=45,600 40,000×.63=25,200 40,000×.53=21,200 40,000×.44=17,600$218,800

　　Answer(B)is incorrect because The amount of$218,800 is the present value of the future net cash inflows.

　　Answer(C)is incorrect because The amount of$100,000 is the excess of the undiscounted cash flows over the investment.

　　Answer(D)is incorrect because The amount of$91,743 is based on dividing the$300,000 total inflows by the total of all present value factors,which produces a nonsense

　　上面的题库做得如何?收藏CMA基础词只是第一步，以后要常看常记才可以，毕竟工作中是不可能让你临时打开词表搜索的，记到脑子里的才是自己的!身边的很多朋友网页的收藏夹鼓鼓，但里面统统都是未点击的状态。这叫知识的囤积，而不是消化。“种一棵树最好的时间是20年前，或者现在”，同学们还是应该尽早利用高顿题库，在实战中熟悉这些词汇~

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