Weaknesses of this approach to sensitivity analysis_2020年ACCA考試FM知識(shí)點(diǎn)

來源：東奧會(huì)計(jì)在線責(zé)編：楊柳2020-12-29 14:51:27

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敏感性分析的缺點(diǎn)_2020年ACCA考試FM知識(shí)點(diǎn)

【內(nèi)容導(dǎo)航】

Weaknesses of this approach to sensitivity analysis敏感性分析的缺點(diǎn)

【知識(shí)點(diǎn)】

Weaknesses of this approach to sensitivity analysis敏感性分析的缺點(diǎn)

(a) The method requires that changes in each key variable are isolated, assuming that all other values in the estimated cash flows are unchanged. However, management may be more interested in the combination of the effects of changes in two or more key variables. Looking at factors in isolation is unrealistic since they are often interdependent

(b) Sensitivity analysis is analysis when there is uncertainty. It does not examine the probability that any particular variation in costs or revenues might occur.

(d) In itself it does not provide a decision rule. Parameters defining acceptability of an investment project, given the uncertainty, must be laid down by managers.

The certainty-equivalent approach

Another method is the certainty-equivalent approach. By this method, the expected cash flows of the project are converted to riskless equivalent amounts. The greater the risk of an expected cash flow, the smaller the certainty-equivalent value (for receipts) or the larger the certainty-equivalent value (for payments).

As the cash flows are reduced to supposedly certain amounts, they should be discounted at a risk-free rate. The risk-free rate is effectively the level of return that can be obtained from undertaking no risk.

凡事預(yù)則立不預(yù)則廢,，ACCA考試時(shí)間越來越近，趕快抓緊時(shí)間備考吧。最后,，預(yù)祝到家順利通過ACCA考試,。

注：以上內(nèi)容來自Echo老師基礎(chǔ)班第19講

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