《财务管理》（英文版） 9.ppt

Chapter 7 Fund Analysis, Cash-Flow Analysis, and Financial Planning Fund Analysis, Cash-Flow Analysis, and Financial Planning Flow of Funds (Sources and Uses) Statement Accounting Statement of Cash Flows Cash-Flow Forecasting Range of Cash-Flow Estimates Forecasting Financial Statements Flow of Funds Statement Has been replaced by the cash flow statement (1989) in U.S. audited annual reports. Why Examine the Flow of Funds Statement QUESTION? Why should we bother to understand a Flow of Funds Statement that is no longer required to appear in U.S. audited annual reports? Why Examine the Flow of Funds Statement Includes important noncash transactions while the cash flow statement does not. Is easy to prepare and often preferred by managers for analysis purposes over the more complex cash flow statement. Helps you to better understand the cash flow statement, especially if it is prepared under the “indirect method.” The Flow of Funds Statement: Flow of Funds Statement All of the firm’s investments and claims against those investments. Extends beyond just transactions involving cash. What are “funds”? Sources and Uses Statement The letters labeling the boxes stand for Uses, Sources, Assets, and Liabilities (broadly defined). The pluses (minuses) indicate increases (decreases) in assets or liabilities. A L - + + - BW’s Determination of Sources and Uses $ 100 - S 410 - S 616 + U 5 -- 9 + U $ 1,140 N/A 930 N/A (299) N/A $ 631 + U 50 -- 223 -- $ 2,044 Cash and C.E. $ 90 Acct. Rec. 394 Inventories 696 Prepaid Exp 5 Accum Tax Prepay 10