开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

咖喱cfa · 2024年02月04日

CFO计算的完整公式

  1. CFA I
  2. FRA

NO.PZ2016012102000180

问题如下：

The table below shows two firms that have almost same expect interest received and dividends paid with slightly difference. Which of them will have lower CFO and lower CFF( Both of them use U.S. GAAP)?

选项：

CFF
CFO
A.
Firm A
Firm B.
B.
Firm B
Firm B.
C.
Firm B
Firm A.

解释：

B is correct.

The lower interest received will lower the CFO and the higher dividends paid will lower the CFF, so B is correct.

考点：US GAAP下，interest received 和dividend属于CFO还是CFF

美国准则下interest received属于CFO，dividends paid 属于CFF。

因此，收到的利息越低，CFO 就越低，支付的股息越高，CFF 就越低，B选项正确。

请问为什么这个公式上面有interest 和 dividend。我们之前用CFO的公式没有呀，所以这算是哪一块呀？



添加评论
1 个答案

lynn_品职助教 · 2024年02月05日

嗨，努力学习的PZer你好：


请问为什么这个公式上面有interest 和 dividend。我们之前用CFO的公式没有呀，所以这算是哪一块呀？


这个问题很多同学都很疑惑，其实就是根据定义把公式展开与否


EBIT到NI，我们需要减掉interest和tax，NI到CFO，需要加上non-cash charge和non-operating item。


下图讲义是CFO的直接法也就是定义的角度，这里已经明确了CFO的现金流入里包含了interest received和dividend received 这两块了哦


这里要注意：美国准则下interest received属于CFO，dividends paid 属于CFF。


IFRS：     interest paid分类为CFO 或 CFF


一般来说有的间接法的题目，NI应该已经包含了这两块内容，就没有这么展开。


----------------------------------------------
加油吧，让我们一起遇见更好的自己！

  • 1

    回答

  • 0

    关注

  • 375

    浏览
相关问题

NO.PZ2016012102000180 问题如下 The table below shows two firms thhave almost same expeinterest receiveanvin paiwith slightly fference. Whiof them will have lower CFO anlower CFF( Both of them use U.S. GAAP)?t{paing: 10px;} CFF CFO A.Firm Firm B.Firm Firm C.Firm Firm B is correct.The lower interest receivewill lower the CFO anthe higher vin paiwill lower the CFF, so B is correct.考点US GAAP下，interest receive和vin于CFO还是CFF 美国准则下interest receive于CFO，vin pai属于CFF。因此，收到的利息越低，CFO 就越低，支付的股息越高，CFF 就越低，B正确。 interest receive都是正数为单位，所以cfo的符号好理解，为正。但pai是应该理解为付出去的吗，显然b付出去的更多，a更少啊？

2024-03-01 20:30 2 · 回答

NO.PZ2016012102000180 问题如下 The table below shows two firms thhave almost same expeinterest receiveanvin paiwith slightly fference. Whiof them will have lower CFO anlower CFF( Both of them use U.S. GAAP)?t{paing: 10px;} CFF CFO A.Firm Firm B.Firm Firm C.Firm Firm B is correct.The lower interest receivewill lower the CFO anthe higher vin paiwill lower the CFF, so B is correct.考点US GAAP下，interest receive和vin于CFO还是CFF 美国准则下interest receive于CFO，vin pai属于CFF。因此，收到的利息越低，CFO 就越低，支付的股息越高，CFF 就越低，B正确。 为什么支付的股息越高CFF越低呢？

2023-03-05 20:18 1 · 回答

NO.PZ2016012102000180 问题如下 The table below shows two firms thhave almost same expeinterest receiveanvin paiwith slightly fference. Whiof them will have lower CFO anlower CFF( Both of them use U.S. GAAP)?t{paing: 10px;} CFF CFO A.Firm Firm B.Firm Firm C.Firm Firm B is correct.The lower interest receivewill lower the CFO anthe higher vin paiwill lower the CFF, so B is correct.考点US GAAP下，interest receive和vin于CFO还是CFF 美国准则下interest receive于CFO，vin pai属于CFF。因此，收到的利息越低，CFO 就越低，支付的股息越高，CFF 就越低，B正确。 这个题目是不是要有一个前提，除了利息和分红不同，其他条件都相同，比如投资的本金相同，融资的本金也相同，否则容易歧义。我投资本金多，所以利息收的多，我融资金额多，所以要分的红也多。那净现金流变化不一定就是答案说的。

2022-11-03 11:49 1 · 回答

NO.PZ2016012102000180 问题如下 The table below shows two firms thhave almost same expeinterest receiveanvin paiwith slightly fference. Whiof them will have lower CFO anlower CFF( Both of them use U.S. GAAP)?t{paing: 10px;} CFF CFO A.Firm Firm B.Firm Firm C.Firm Firm B is correct.The lower interest receivewill lower the CFO anthe higher vin paiwill lower the CFF, so B is correct.考点US GAAP下，interest receive和vin于CFO还是CFF 美国准则下interest receive于CFO，vin pai属于CFF。因此，收到的利息越低，CFO 就越低，支付的股息越高，CFF 就越低，B正确。 RT

2022-10-14 20:48 1 · 回答