老师，你好，在课后题答案中有一段话：NI being greater than cash flow operation is a warning sign that the firm using aggressive accrual accounting policies that shift current express to future periods. Decreasing,not increasing,inventory turnover could suggest inventory obsolescence problems that should be recognized. Decreasing,not increasing,receivables turnover could suggest that some revenues are fictitious or recorded prematurelt or that the allowance for doubtful account is insufficient. 这里我不太明白为什么NI>CFO，就是表明公司可能使用激进的记账方法。还有：invetory turnover=COGS/average inventory，如果操纵利润的话，应该是将存货提前确认为收入，那么COGS增加，inventory减少，inventory turnover应该变大才对，为什么是inventory turnover降低表明了会有操纵利润的可能？同样的，receivable turnover=sales/average receivable，如果操纵利润，那么应该使sales升高，receivables降低，receivable turnover这个指标应当变大才对。

老师 reading8课后题第28题 为什么选C? 什么意思?

根据终值公式 pv=fv/（1+i/m）的mn次方 为什么半年计算的时候5%不除以2？

请问第6题，在跨国业务中指的“effective tax rate”就是理解为母公司合并报表时候的综合税率吗？

If IFRS applies, which one is correct about the classification of cash flow? A Trading securities is classified as CFO; Change in notes payable is classified as CFF. B Trading securities is classified as CFO; Change in notes payable is classified as CFO. C Trading securities is classified as CFI; Change in notes payable is classified as CFF. a 答案说的很清楚。我的问题是：是和计息有关的都算CFF,还是只要是和借钱有关的都算CFF？是因为notes payable的哪个属性被归到cff的？

第8题没有看明白，可以帮我具体详细的解析一下吗？谢谢老师

什么是pooled investment?

老师，这道题C答案也是对的吧。

原版书课后题Reading30，,11题B答案中的annualized return for hedge fund和index,0.6133%和-0.449%是怎么计算出的呢？

此题完全不知道怎么做，可以讲解吗