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yea.

i meant for each year take the Net PPE + dep. then take the delta, which gives you capex. so same thing.

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add depreciation to get gross PPE

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nope

you do
change in Net PPE + Depreciation Expense = Capex...

CP

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now a question...

what if you are provided Net PPE?

CP

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My understanding is that FCInv = capex - sale of LT assets = change in gross PPE - sale of LT assets



so if you are given a B/S, you have to take gross assets2009 - gross assets 2008 to arrive at capex, then look for sale of LT assets and subtract them out.

if you are just given capex, that is already representing the change in gross assets so no need to take any delta.

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I think I read something about this somewhere here, try to search forum.

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if a specific outlay is given, per the exam in the notes section use it. if given a B/S use change in gross fixed assets, if given a CF statement use that years investment

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