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

marking134 · 2021年05月14日

Other current liability为什么可以算进Working capital里面

* 问题详情,请 查看题干

NO.PZ201809170300000104

问题如下:

Based on Exhibit 1, using net income as a proxy for Company B’s FCFE would result in an intrinsic value that is:

选项:

A.

lower than the intrinsic value if actual FCFE were used.

B.

equal to the intrinsic value if actual FCFE were used.

C.

higher than the intrinsic value if actual FCFE were used.

解释:

A is correct. FCFE is significantly higher than net income for Company B:

Net income = $1,212 million.

FCFE for Company B is calculated as:

Investment in working capital is calculated by adding the increase in accounts receivable, the increase in inventories, the increase in accounts payable, and the increase in other current liabilities: -$150 million - $200 million + $100 million + $14 million =- $236 million. Net borrowing is calculated by adding the increase in notes payable to the decrease in long-term debt: $3,000 million $1,000 million = $2,000 million.

Therefore, using net income of $1,212 million as a proxy for FCFE ($2,264 million) for Company B would result in a much lower valuation estimate than if actual FCFE were used.

Other current liability为什么可以算进Working capital里面
1 个答案
已采纳答案

追风少年_ 品职助教 · 2021年05月14日

嗨,爱思考的PZer你好:


比方说,我租赁别人的办公大楼,这个不是我的主营业务,这个在会计上叫其他应付款,但是租金也是一年以内应该偿付的,并且是无息负债,所以应该算到CL中。只要是无息负债,基本都是CL,不管他是不是other current liability。

老师这么解释,同学明白了嘛~

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