财务报表分析与证 券估值教案案例及教学建议KMBSolution8.docVIP

Kimberly-Clark Corporation (KMB) Solution to Continuing Case, Chapter 8 THE TREASURER’S RULE It is best to lay out the reformulated statement first before setting up the treasurer’s rule. The statement below is a reformulated cash flow statement that follows the accounting equation, C – I = d + F As you see below, the statement is reformulated to show free cash flow (C – I), and the total for free cash flow equals the total financing flows (d + F). Go back to the Continuing Case for Chapter 4 to remind yourself how the GAAP cash flow statement is modified to calculate free cash flow. Net int