标题: WC vs. NOA vs. Monetary [打印本页] 作者: grharmeyer 时间: 2011-7-13 15:56 标题: WC vs. NOA vs. Monetary
Could someone quickly explain the difference among working capital, net operating assets, and monetary assets? Thank you.作者: jarobi04 时间: 2011-7-13 15:56
WC = Change in current assets - Change in curent Liabilities
= (change in current assets - cash and equiv) - (current liabilities - notes payable - current
portion of LT debt)
NOA = Net Assets - Net Liabilities
= (Total Assets - cahs and equiv) - (Total liab - Total Debt)
Monetary assets are cash and receivables, and liabilities include all debt and AP作者: Kapie 时间: 2011-7-13 15:56
Working capital is current assets - current liabilities. Changes in working capital are used in calculating FCF, although we actually use changes in net working capital (ex. cash and short-term debt/notes payable).作者: SeanWest 时间: 2011-7-13 15:56
Monetary assets are money or something that can be converted to money :p作者: Rasec 时间: 2011-7-13 15:56
WCInv and NOA are somewhat related. I remember them like this:
in calculation of WCInv everything is related to CURRENT assets/liabilities/debt
WCInv = change in [(Current Assets - cash&eqv) - (Current Liabilities - Current Debt)]
notes payable is short term debt so it is current, current portion of long term debt is current as well.
For NOA everything is related to TOTAL assets/liabilities/debt
NOA = (Total Assets - cash&eqv) - ( Total Liabilities - Total Debt)
