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- 2013-8-23
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possible error on schweser notes, please confirm?
Thisi s for study session 11 : Emerging Market Valuation. Page 119 when it is talking about NOPLAT return on invested capital..
figure 13 under real terms, the invested capital is simply beginning PPE + WC = 567.
I have no problem with the PPE number, but the WC number the book derived from is simply the nominal WC % * real revenue at end of year 1. I thought we need to find out real WCinv by getting the nominal WCinv first, then deflate it, to reach the net real WC investment for the year…
hopefully someone ahead of their studies can confirm this. thanks ! |
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发表于 2013-4-17 17:08
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