标题: Working Capital [打印本页] 作者: noel 时间: 2011-7-13 16:24 标题: Working Capital
Is it the same formula for calculating this for Capital Budgeting and FCF?作者: MiniMe7 时间: 2011-7-13 16:25
check explanation on page 385 volume 4
in general accounting WC is current assets less current liabilities but for
cashflow and valuation WC excludes cash, cash equivalent, short term debt,and current portion of long term debt作者: madaochenggong 时间: 2011-7-13 16:25
Wrong. In capital budgeting its a straight CA - CL calculation. Under FCF valuation, NWC is calculated as (CA - Cash & equivalents) - (CL - Interest bearing debt).
NO EXCUSES作者: Houjichasan 时间: 2011-7-13 16:25
i have never seen the CL-interest bearing debt described as "less interest bearing debt"
reference? it makes sense and I believe you since it works in the calculations, but is this in CFAI?作者: kingstongal 时间: 2011-7-13 16:25
SkipE99 Wrote:
-------------------------------------------------------
> i have never seen the CL-interest bearing debt
> described as "less interest bearing debt"
>
> reference? it makes sense and I believe you since
> it works in the calculations, but is this in CFAI?
This is from Stalla and is consistent with their 2009 and 2010 material.
