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Level 2: 2 Doubts on Long-lived assets-depreciation & impairment effect

1. From Schweser Notes 2014 L2 Book 2, P.35 "Cashflow from operation" the last sentences,
What is meant by "Depreciation is noncash expense, aside from any taxes, therefore does not affect CFO"?
From my understanding, CFO=EBIT+ NCC- chg of working capital, how does one explain "depreciation does not affect CFO"?

2. On P.48 "Impact of impairment on financial statements & Ratio",
What is meant by "impairment loss hv no impact on CF & tax saving"?
I only know impairment loss is recorded in I/S & nothing else

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上一主题:还有一个问题是我在计算看跌期权的delta时是否应该使用delta-1=∆C/∆S
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