冰晶火

FCInv= Capital expenditure - Proceeds from sale of long-term assets

Here Proceeds means the total sale price you got form the sale.

冰晶火

The whole proceeds you get from the sale can be used to reduce the FCInv, so here you should use the sale price rather than the profit of the sale.

For the NCC, It makes little sense to me to just talk about he concept. A example is better to help explain it.

冰晶火

Sorry, I should notice that.

OK, my solution is like this
FCFE=NI+Depr Exp-exp in Working capital-exp in FCInv+book value of Long-term asset sale

Which is FCFE=50+27-4-65+2

You don't want to add the whole sale price of the assets because the profit is already included in the NI.

冰晶火

QUOTE:

以下是引用冰晶火在2011-6-3 1:28:00的发言：
Sorry, I should notice that. OK, my solution is like this FCFE=NI+Depr Exp-exp in Working capital-exp in FCInv+book value of Long-term asset sale Which is FCFE=50+27-4-65+2 You don't want to add the whole sale price of the assets because the profit is already included in the NI.

It's OK. So the formula is like this. FCFE= NI+NCC-FCInv-WCInv+Net Borrowing Where: NI=50 NCC=27 FCInv=65-(10-8) cause $8 profit is already in NI. WCInv=4 Net Borrowing=0

冰晶火

Gosh.
Why I couldn't break up the text into multiple lines?! Any help?

冰晶火

Are you in China or some other country?

You guys are working so hard.