光华财务会计第十章.pptVIP

间接法 来自经营活动的净现金流: 净利润 $200 包含在利润中的非现金费用,收入和损失 : 折旧 120 递延税金 5 应收帐款增加 (87) 存货增加 (47) 应付帐款增加 56 应付税金增加 1 出售设备利得 (20) 来自经营活动的现金流 228 REVIEW QUESTION A company’s net income is $132,000, and during the year the following occurred: Accounts payable increased $10,000, Inventory decreased $6,000 Accounts receivable increased $12,000. Compute cash flows from operations. Net income 132,000 Increase in A/R (12,000) Increase in A/P 10,000 Decrease in Inventory 6,000 Cash flows from operations 136,000 11-* Analysis of Cash Flow Statement Cash realization ratio = (cash generated by operations)/(Net income) Ratio of cash generated by operations to total debt/current liabilities. 11-* “Free” Cash Flow 自由现金流就是企业产生的、在满足了再投资需要之后剩余的现金流量。这部分现金流量是在不影响公司持续发展的前提下偿还更多债务、增发股利、回购普通股和进行新的商业投资的可用资金额。 Free Cash Flow= operating cash flow - capital expenditures (-interest expense)-cash dividend Now we are finished!! * * * * * * 67 Ch9 现金流量表 现金及现金流量表 现金 现金流量的分类 损益表和现金流量表的差异 现金流量表的编制方法 直接法 间接法 We have learned in previous chapter that Accrual accounting is better than cash basis accounting Research shows that earnings is more value relevant Why investors need SCF? “现金”的含义 在现金流量表中，“现金”是采用广义现金概念。 广义现金包括：库存现金、银行存款（但不包括不能随时支取的定期存款）、其他货币资金（如外埠存款等）、以及现金等价物。 现金等价物是指虽非现金，但其支付能力与现金相差无几的“准现金”。其基本特征有：期限短（通常要求小于3个月）；流动性强（即易于变现）；价值变动风险小。 “现金”所包含的具体内容可能因企业不同而异，但须作表外披露。通常，不该包括短期股票投资（价值变动风险大）。 现金流量的分类 筹资活动：筹集资金 借债（偿债） 发行股票 投资活动：对企业所需资源的选择 购买固定资产、无形资产、股票或债券 经营活动：运用资源生产、分配和销售 收回帐款 支付货款 支付工资等等 Cash Pool Operating activities Investing activities Financing activities inflows Operating activities Investing activities Financing activities outflows Statement of Cash Flows: Concept Try to classify these cash flow items: Buying and selling inventories Paying back suppliers/collecting from customers Using cash to buy PPE Cash obtained from issuing bonds Interest paid on bonds Dividends paid to shareholders Relations among the cash flows from the three categori