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cst6666 · 2024年07月20日

如果把proceed from sale of stock换成 gain from sale of stock

  1. CFA I
  2. FRA

NO.PZ2024011002000053

问题如下：

Assume U.S. GAAP applies unless otherwise noted. An analyst gathered the following annual information ($ millions) about a company that pays no dividends and has no debt:


The company's annual free cash flow to equity ($ millions) is closest to:

选项：

A.53.1. B.58.4. C.61.6.

解释：

CFO = net income + depreciation + loss on sale of equipment + decrease in accounts receivable - increase in inventories + increase in accounts payable. (The loss on sale of equipment is added back when calculating CFO.)

It would have been deducted in the calculation of net income but the loss is not the cash impact of the transaction (the proceeds received, if any, would be the cash effect) and cash flows related to equipment transactions are investing activities, not operating activities.)

CFO = 45.8 + 18.2 + 1.6 + 4.2 – 5.4 + 4.5 = $68.9 million; so FCFE = $68.9 - $7.3 = $61.6 million.

如果把proceed from sale of stock换成 gain from sale of stock--->这样会不会就有影响了---》属于non-operating gain?


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lynn_品职助教 · 2024年07月21日

嗨，从没放弃的小努力你好：


这个没有诶，没有 gain from sale of stock-这个说法，这个说法只在长期资产比如厂房里有，因为账面价值和卖的现金的差是gain，


而proceeds from sale of stock是发行股票收到的融资，从报表上来看，应该是同时增加cash和equity里面的capital

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努力的时光都是限量版，加油！

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