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HG · 2020年06月04日

问一道题：NO.PZ201809170300000103

  1. CFA II
  2. Equity

* 问题详情，请 查看题干

问题如下：

Based on Exhibit 1, Company A’s FCFE for the most recent year is closest to:

选项：

A.

$5,318 million.

B.

$6,126 million.

C.

$7,126 million.

解释：

C is correct. FCFE for Company A for the most recent year is calculated as follows:

Net non-cash charges are found by adding depreciation to other non-cash expenses:

$500 million + $1,000 million = $1,500 million.

Investment in working capital is calculated by netting the increase in accounts receivable, the decrease in accounts payable, and the increase in other current liabilities:

–-$452 million -– $210 million + $540 million =- – $122 million (outflow).

Net borrowing repayment is calculated by netting the increase in notes payable and the decrease in long-term debt:

$25 million – -$1,500 million =- – $1,475 million (outflow).

老师这个数字的括号是代表流出的意思吗？那么前面英文的描述一会带括号的decrease一会不带这个是什么意思？

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3 个答案

Debrah_品职答疑助手 · 2020年06月17日

不好意思，之前没有看完整。

如果是现金流量表，表格里的数字是数，代表现金流入，负数代表流出，这个结论是没有错的。

如果要和前面的科目对应，想起来会有点复杂，譬如说这道题目中 increase（decrease） in AP是（210），代表应付账款较少了210mn，可以理解为有210mn是实际支付了现金，而没有采用赊账的方式，导致现金流减少210mn。（increase）decrease in AR为（452），说明应收账款增加452mn，可以理解为本来应该收现金452mn，现在增加了应收账款，但是没有收到现金，导致现金流减少了452亿。

所以同学你只需要看表格就可以了：表格里的数字是数，代表现金流入，负数代表流出。加油

Debrah_品职答疑助手 · 2020年06月07日

在现金流量表里，一般只会是你说的第一种，我还没有见过第二种。如果有你可以再发上来我们讨论。

Debrah_品职答疑助手 · 2020年06月05日

同学你好，要掌握如何看财务报告哈。前面写的increse（decrease）inXXX，意思是如果后面的数字是正数，代表流入，负数代表流出。

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NO.PZ201809170300000103问题如下 Based on Exhibit 1, Company A’s FCFE for the most recent yeis closest to: $5,318 million. $6,126 million. $7,126 million. C is correct. FCFE for Company A for the most recent yeis calculatefollows: Net non-cash charges are founaing preciation to other non-cash expenses: $500 million + $1,000 million = $1,500 million. Investment in working capitis calculatenetting the increase in accounts receivable, the crease in accounts payable, anthe increase in other current liabilities: –-$452 million -– $210 million + $540 million =- – $122 million (outflow). Net borrowing repayment is calculatenetting the increase in notes payable anthe crease in long-term bt: $25 million – -$1,500 million =- – $1,475 million (outflow). 我是减去优先股得到第二个答案

2023-03-22 21:59 1 · 回答

NO.PZ201809170300000103 问题如下 Based on Exhibit 1, Company A’s FCFE for the most recent yeis closest to: $5,318 million. $6,126 million. $7,126 million. C is correct. FCFE for Company A for the most recent yeis calculatefollows: Net non-cash charges are founaing preciation to other non-cash expenses: $500 million + $1,000 million = $1,500 million. Investment in working capitis calculatenetting the increase in accounts receivable, the crease in accounts payable, anthe increase in other current liabilities: –-$452 million -– $210 million + $540 million =- – $122 million (outflow). Net borrowing repayment is calculatenetting the increase in notes payable anthe crease in long-term bt: $25 million – -$1,500 million =- – $1,475 million (outflow). 请问计算FC时，看CF表中CAPEX一般也是直接列示出来吗，没有列示就是默认为0的意思吗？

2023-03-16 16:03 1 · 回答

NO.PZ201809170300000103 Baseon Exhibit 1, Company A’s FCFE for the most recent yeis closest to: $5,318 million. $6,126 million. $7,126 million. C is correct. FCFE for Company A for the most recent yeis calculatefollows: Net non-cash charges are founaing preciation to other non-cash expenses: $500 million + $1,000 million = $1,500 million. Investment in working capitis calculatenetting the increase in accounts receivable, the crease in accounts payable, anthe increase in other current liabilities: –-$452 million - – $210 million + $540 million =- – $122 million (outflow). Net borrowing repayment is calculatenetting the increase in notes payable anthe crease in long-term bt: $25 million – -$1,500 million =- – $1,475 million (outflow). 老师请教一下NB包含两块，NP和Long term bt，还有别的可能性是包含在NB中的吗？

2021-11-24 16:54 1 · 回答

NO.PZ201809170300000103 Baseon Exhibit 1, Company A’s FCFE for the most recent yeis closest to: $5,318 million. $6,126 million. $7,126 million. C is correct. FCFE for Company A for the most recent yeis calculatefollows: Net non-cash charges are founaing preciation to other non-cash expenses: $500 million + $1,000 million = $1,500 million. Investment in working capitis calculatenetting the increase in accounts receivable, the crease in accounts payable, anthe increase in other current liabilities: –-$452 million - – $210 million + $540 million =- – $122 million (outflow). Net borrowing repayment is calculatenetting the increase in notes payable anthe crease in long-term bt: $25 million – -$1,500 million =- – $1,475 million (outflow). 这里的FCinv是不是通过Capex-procee from sales (0-2379=-2379)得出的？

2021-10-07 09:40 1 · 回答

NO.PZ201809170300000103 $6,126 million. $7,126 million. C is correct. FCFE for Company A for the most recent yeis calculatefollows: Net non-cash charges are founaing preciation to other non-cash expenses: $500 million + $1,000 million = $1,500 million. Investment in working capitis calculatenetting the increase in accounts receivable, the crease in accounts payable, anthe increase in other current liabilities: –-$452 million - – $210 million + $540 million =- – $122 million (outflow). Net borrowing repayment is calculatenetting the increase in notes payable anthe crease in long-term bt: $25 million – -$1,500 million =- – $1,475 million (outflow). 老师请帮忙一下为什么在这道题中计算FCFE中的FC Inv的时候 文中提到的“ Transaction 1: 900mil loss from sale on equipment” 不用包含在FCinv的计算中 

2021-08-30 14:14 1 · 回答