[CFA入门] [求助]请教 ARO的一个问题 charge, interest, liability, face, 影响

saal

ARO说的是用其现值，同时在asset和liability增加相同的数

然后a那边通过折旧递减，l那边通过accretion expense递增，然后equity等于两者之和

但我不理解的是，depreciation是noncash charge所以不影响CFO，这我明白。

但是accretion expense是会被认为是interest expense来处理，所以，为啥书上说accretion expense也是noncash,不影响CFO呢？

 

如果是interest expense,那么在计算cfo的时候，net income是减去了interest的啊

 

saal

谢谢大家，我已经明白了。这个利息费用是non cash的，所以对于cfo也是没有影响的，但对net income有影响。谢谢了

 

yyykkk

算CFO时，间接法是NI+Non Cash Charges（包含折旧）+gain or loss-working capital的变化

 

在算NI时候interest expense已经扣除，同时它又不是实际支付的interst，而是NCC，所以ARO的interest expense对CFO没影响。

isann

"accrued" in accounting means earned/expensed but has yet been paid, then it would be a noncash activity.
in another way, accrued expense to L is just like depreciation to A, thus accrued expense should also be considered as same propriety as drepreciation.

sallmanns

QUOTE:

以下是引用saal在2009-7-15 10:04:00的发言：

ARO说的是用其现值，同时在asset和liability增加相同的数

然后a那边通过折旧递减，l那边通过accretion expense递增，然后equity等于两者之和

但我不理解的是，depreciation是noncash charge所以不影响CFO，这我明白。

但是accretion expense是会被认为是interest expense来处理，所以，为啥书上说accretion expense也是noncash,不影响CFO呢？

 

如果是interest expense,那么在计算cfo的时候，net income是减去了interest的啊

 

 

这里的interest是accured interest,并没有真正的付出去,所以没有cash出去,到期把liability与interest一起付出去.

 

lecielbleu

In my understanding, the Accretion expense is calculated by multiplying the balance of the recorded liability by the company’s credit-adjusted discount rate each year, and is simply the amortization of the present value discount associated with the ARO’s initial recording; hence, as an amortization, it should be considered as non-cash charges, and won't affect the cash flow. It is treated as interest simply for the purpose to calculate interest coverage ratio. I am not sure whether I got a right understanding, and hope it helps if my understanding is correct.

冰冰水月儿

顶你~~~~~