CF2 Ch 12 Financial Planning and Forecasting Pro Forma Financial Statements 公司财务与 及金融 课件.pptVIP

CHAPTER 14;Topics;Financial Planning and Pro Forma Statements;Steps in Financial Forecasting;2005 Balance Sheet(Millions of $);Definitions of Variables in AFN;Assets;If assets increase by $250 million, what is the AFN?;How would increases in these items affect the AFN?;;Projecting Pro Forma Statements with the Percent of Sales Method;;Sources of Financing Needed to Support Asset Requirements;Implications of AFN;How to Forecast Interest Expense;Basing Interest Expense on Debt at End of Year;Basing Interest Expense on Debt at Beginning of Year;Basing Interest Expense on Average of Beginning and Ending Debt;A Solution that Balances Accuracy and Complexity;Percent of Sales: Inputs;Other Inputs;2006 First-Pass Forecasted Income Statement;2006 Balance Sheet (Assets);2006 Preliminary Balance Sheet (Claims);What are the additional funds needed (AFN)?;Assumptions about how AFN will be raised;How will the AFN be financed?;2006 Balance Sheet (Claims);Equation AFN = $184.5 vs. Pro Forma AFN = $187.2.;Forecasted Ratios;What are the forecasted free cash flow and ROIC?;Proposed Improvements;Impact of Improvements (see Ch 12 Mini Case.xls for details);If 2004 fixed assets had been operated at 75% of capacity:;How would the excess capacity situation affect the 2006 AFN?;Assets;Assets;Summary: How different factors affect the AFN forecast.