CF 2013 Beijing Topic 2 Cash Flow analysis and financial modelling外文翻译.pdfVIP

MACQUARIE UNIVERSITY APPLIED FINANCE CENTRE ECFS 866: CORPORATE FINANCE 2013 Beijing TOPIC 2: CASH FLOW ANALYSIS FINANCIAL MODELLING Reference: RWJ Chapters 2.4 to 2.7, 26.1 to 26.2, 3.4 to 3.5 Lenovo Cash Flow Statement and Note 35, from 2012 Annual Report Topic 0 explored the key financial statements, primarily the Income Statement and Balance Sheet. In this topic we concentrate on cash flows, and how they link to a company or project’s Income Statement and Balance Sheet. This chapter: o Explains the important role of cash flows in many corporate finance applications (Section 2.1); o Explains why cash flows and profits are different (Section 2.2); o Presents a framework for analysing cash flows, and shows how the various definitions of cash flows used in practice can be related to each other (Section 2.3); o Develops the financial modelling principles introduced in Topic 0 , and present a case for the preparation of integrated financial statements (Section 2.4). IF YOU HAVE NOT DONE TOPIC 0, NOW WOULD BE A GOOD TIME. IT INTRODUCES MANY OF THE CONCEPTS REQUIRED TO UNDERSTAND FINANCIAL STATEMENTS AND IS ASSUMED READING FOR THIS TOPIC AND TOPIC 4. © Macquarie University Corp Fin 2013 Topic 2: Cash Flow Analysis [8/2/2013] Page 1 2.1 Cash flows and Corporate Finance Cash Flows are fundamental to Corporate Finance analysis: o Forecast cash flows are the key input into a DCF valuation. Discounted cash flows most directly