reading 43, page 447, q13, answer for question A:
it use formula FCFE= NI+dep-FCInv -WCInv, where is the net borrowing? also , how where to get the value WCInv (41 in the solution). thanks.
there is no debt issued, the current liabilities are non interest bearing which is not a financial asset (its an operating asset) so we do not include it.
WCInv = (CA - CL)2008 - (CA - CL)2007 or (201-57) - (326-141) = 41 increase
发表于 2011-7-11 19:19
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