ramdabom

^ it is actually discussed in 2 DEDICATED threads lol…
I had the same view as you did, some people agreed, others did not agree but failed to explain so you decide !
and given that CFA does not explicitly show this formula for adjusted CFO I would just not worry about it….
I like it when I see guys like me out there, we worry about details and not just memorize formulas…
But I also worry cause guys like me can fail the exam, while we are worried about details others are worried about passing the exam….lol