chap018公司理财_课件.pdf

Chappter 19 FFunddamenttalls off Corpp orate ShortShort-TermTerm FinancialFinancial Finance Planning Fifth Edition Slides by Matthew Will McGraw-Hill/Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved 19- 2 Toppics Covered LiLinkks BBettween LLong-TTerm andd ShShortt-TTerm Financing Working Capital TracingTracing ChangesChanges inin CashCash andand WorkingWorking CapitalCapital Cash Budgeting A Short-Term Financing Plan Sources of Short-Term Financingg The Cost of Bank Loans McGraw-Hill/Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved 19- 3 Firm’s Cumulative Cappital Reqquirement Dollars AA B CC Cumulative capitalcapital requirementrequirement YYear 11 YYear 22 TiTime Lines A, B, and C show alternative amounts of long-term finance. Strategy A: A permanent cash surplus Strategy B: Short-term lender for part of year and borrower for remainderremainder Strategy C: A permanent short-term borrower McGraw-Hill/Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved 19- 4