如果是当年的TOTAL CF,融资租凭由于起初DEPRE和INTEREST的和大于经营租凭的LEASE PAYMENT。所以在其他条件不变的情况下,ANNUAL EXPENSE前大后小,EBT也是前小后大,TAX [PAYMENT不可能一样,无论税法采用什么样的DEP METHOD。所以ANNUL TOTAL CF 两者不一样。
当否,请大家分析。作者: vincent9125 时间: 2017-3-26 11:04
亲,你的depreciation不会影响cash flow
OCF = NI + D&A + Changes in working capital + gain on sale of asset - NI from affiliate
The D&A part will always be added back.
The total cash flow is for each year and as well, total.
Capitalized Lease and Operating lease will have the same total cash flow (i.e. CFO+ CFI + CFF)
The difference is capitalized will be treated as Cash Flow from Investing while Operating lease will be treated as Cash Flow from Operations作者: wimming275 时间: 2017-3-26 18:40
Tax is not an outflow, there is also one thing called deferred tax payment or deferred tax liability or deferred tax expense. Tax on income statement is an book value not real cash flow.作者: vk7201 时间: 2017-6-12 08:39