Principles of Finance · 免费预览
OCF、自由现金流与共同比报表
经营现金流衡量企业产生的现金，自由现金流在此基础上扣除资本支出，以显示可用于分红、偿还债务和增长的资金；共同比报表则将每一个项目都表示为某一基准数字的百分比，从而使不同规模的企业具有可比性。
1. Operating cash flow distilled
Operating cash flow distilled
2. Free cash flow, the surplus that matters
Free cash flow, the surplus that matters
3. Common-size statements
Common-size statements
4. The four statements as one system
The four statements as one system
5. Operating cash flow's question
What question does operating cash flow answer that net income cannot?
6. Computing free cash flow
A firm reports operating cash flow of 500,000 dollars and capital expenditures of 300,000 dollars. What is free cash flow, and what does it represent?
7. Negative free cash flow
A growing firm posts negative free cash flow for three straight years. Which interpretation is most balanced?
8. Building a common-size income statement
What does a common-size income statement express each line as, and why?
9. Reading a common-size balance sheet
A firm's common-size balance sheet shows receivables at 18 percent of total assets while a close competitor shows 8 percent. What is the likely reading?
10. The system of statements
Which statement correctly describes how the four financial statements interlock?
11. The distributable surplus
What three-word term names operating cash flow minus capital expenditures? Answer in lowercase.
12. The normalized income statement base
On a common-size income statement, every line is expressed as a percentage of what figure? Answer with one word.
13. The normalized balance sheet base
On a common-size balance sheet, every item is expressed as a percentage of what figure? Answer with two words.
14. The reinvestment subtraction
What two-word term names the cash invested in long-term assets during the period, subtracted in computing free cash flow? Answer in lowercase.