eoin

I don't have it in front of me, but if I remember correctly, and with similar problems, if they don't give you the breakdown of current assets & current liabs, then you're forced to do just the change in CA- change in CL, no?


seaeffay Wrote:
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> this is soooooo irritating. Q51: calculate FCFE.
> Simple eh? EXCEPT for the fact that the solution
> shows the calculation for changes in working
> capital as Changes in current assets less changes
> in current liabilities. BUT for FCF, changes in
> nwc should expressly exclude changes in cash,
> short term notes, and the current portion of long
> term notes. (CFAI Volume 4 p391 last paragraph).
> so the mock exam solution is wrong, imho.