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dejiazheng · 2025年06月28日

关于WC的正负号

  1. CFA II
  2. Equity

* 问题详情，请 查看题干

NO.PZ201809170300000103

问题如下：

Based on Exhibit 1, Company A’s FCFE for the most recent year is closest to:

选项：

A.

$5,318 million.

B.

$6,126 million.

C.

$7,126 million.

解释：

C is correct. FCFE for Company A for the most recent year is calculated as follows:

Net non-cash charges are found by adding depreciation to other non-cash expenses:

$500 million + $1,000 million = $1,500 million.

Investment in working capital is calculated by netting the increase in accounts receivable, the decrease in accounts payable, and the increase in other current liabilities:

–-$452 million -– $210 million + $540 million =- – $122 million (outflow).

Net borrowing repayment is calculated by netting the increase in notes payable and the decrease in long-term debt:

$25 million – -$1,500 million =- – $1,475 million (outflow).

我能理解netting the increase in accounts receivable, the decrease in accounts payable, and the increase in other current liabilities，但不理解下方的表述：

△AR是增加452，△AP是减少210，other current liabilities增加540，根据上面表述应该是452-（-210）+540=1202。答案没看懂

–-$452 million -– $210 million + $540 million =- –$122 million (outflow).

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dejiazheng · 2025年06月28日

搞懂了，用下一题老师解答的方法算出绝对值，带入最终公式时再考虑实际这是现金流出还是流入，流出负，流入正。依据这个方法：△AR是452，资产增加是流出452；△AP是210，负债减少流出210，other current liabilities540，负债增加是流入540，所以对现金流的影响是-452-210+540=-122。上个问题主要是AP减少那里没想明白

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王园圆_品职助教 · 2025年06月28日

好的同学

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相关问题

NO.PZ201809170300000103 问题如下 Based on Exhibit 1, Company A’s FCFE for the most recent yeis closest to: $5,318 million. $6,126 million. $7,126 million. C is correct. FCFE for Company A for the most recent yeis calculatefollows: Net non-cash charges are founaing preciation to other non-cash expenses: $500 million + $1,000 million = $1,500 million. Investment in working capitis calculatenetting the increase in accounts receivable, the crease in accounts payable, anthe increase in other current liabilities: –-$452 million -– $210 million + $540 million =- – $122 million (outflow). Net borrowing repayment is calculatenetting the increase in notes payable anthe crease in long-term bt: $25 million – -$1,500 million =- – $1,475 million (outflow). 是不是因为此处在CFO里面，所以计算other current liability；如果在B/S表里面，是不需要计算other current liability的变化的

2025-03-29 07:21 1 · 回答

NO.PZ201809170300000103问题如下 Based on Exhibit 1, Company A’s FCFE for the most recent yeis closest to: $5,318 million. $6,126 million. $7,126 million. C is correct. FCFE for Company A for the most recent yeis calculatefollows: Net non-cash charges are founaing preciation to other non-cash expenses: $500 million + $1,000 million = $1,500 million. Investment in working capitis calculatenetting the increase in accounts receivable, the crease in accounts payable, anthe increase in other current liabilities: –-$452 million -– $210 million + $540 million =- – $122 million (outflow). Net borrowing repayment is calculatenetting the increase in notes payable anthe crease in long-term bt: $25 million – -$1,500 million =- – $1,475 million (outflow). 我是减去优先股得到第二个答案

2023-03-22 21:59 1 · 回答

NO.PZ201809170300000103 问题如下 Based on Exhibit 1, Company A’s FCFE for the most recent yeis closest to: $5,318 million. $6,126 million. $7,126 million. C is correct. FCFE for Company A for the most recent yeis calculatefollows: Net non-cash charges are founaing preciation to other non-cash expenses: $500 million + $1,000 million = $1,500 million. Investment in working capitis calculatenetting the increase in accounts receivable, the crease in accounts payable, anthe increase in other current liabilities: –-$452 million -– $210 million + $540 million =- – $122 million (outflow). Net borrowing repayment is calculatenetting the increase in notes payable anthe crease in long-term bt: $25 million – -$1,500 million =- – $1,475 million (outflow). 请问计算FC时，看CF表中CAPEX一般也是直接列示出来吗，没有列示就是默认为0的意思吗？

2023-03-16 16:03 1 · 回答

NO.PZ201809170300000103 Baseon Exhibit 1, Company A’s FCFE for the most recent yeis closest to: $5,318 million. $6,126 million. $7,126 million. C is correct. FCFE for Company A for the most recent yeis calculatefollows: Net non-cash charges are founaing preciation to other non-cash expenses: $500 million + $1,000 million = $1,500 million. Investment in working capitis calculatenetting the increase in accounts receivable, the crease in accounts payable, anthe increase in other current liabilities: –-$452 million - – $210 million + $540 million =- – $122 million (outflow). Net borrowing repayment is calculatenetting the increase in notes payable anthe crease in long-term bt: $25 million – -$1,500 million =- – $1,475 million (outflow). 老师请教一下NB包含两块，NP和Long term bt，还有别的可能性是包含在NB中的吗？

2021-11-24 16:54 1 · 回答