搜索
(企管培训资料下载)2019/9/29CashFlowAnalysis1CashFlowAnalysisSession6(企管培训资料下载)2019/9/29CashFlowAnalysis2Thissession•HowtocalculateandanalysisacorporationsCashFlowanalysis•Howtoevaluatethesolvencyofacompanybasedonitsbalancesheetandcashflows(企管培训资料下载)2019/9/29CashFlowAnalysis3Incaseyoumissedthelastsession…….Wecovered……….•I&E•BalanceSheets•ThelinkagesbetweenI&EandBalanceSheets(企管培训资料下载)2019/9/29CashFlowAnalysis4BusinessChallenges1.EarnProfits2.ConvertProfitstoCashasFastasPossible(企管培训资料下载)2019/9/29CashFlowAnalysis5CashFlow1.FromOperatingActivities2.FromInvestingActivities3.FromFinancingActivities(企管培训资料下载)2019/9/29CashFlowAnalysis6BalanceSheetAssetsCash+AccountsReceivable+Inventory+PrepaidExpenses+Property,Plant&Equipment+AccumulatedDepreciation=TotalAssetsLiabilities&EquityAccountsPayable+AccruedOperatingExpenses+AccruedInterestPayable+IncomeTaxPayable+NotesPayable+Capitalstock+RetainedEarnings=TotalLiability&EquityCashFlowStatementCashFlowFromOperatingActivitiesNetIncome-AccountsReceivableIncrease-InventoryIncrease-PrepaidExpensesIncrease+DepreciationExpense-AccountsPayableIncrease-AccruedExpensesIncrease-IncomeTaxPayable=CashFlowformOperatingActivities+CashFlowFromInvestingActivitiesPurchasesofProperty,Plant&Equipment+CashFlowsFromFinancingActivitiesShort-TermDebtBorrowing+Long-TermDebtBorrowing+CapitalStockIssue+DividendsPaidtoStockholders=IncreaseinCashforYearBalanceSheet/CashFlowInteractions(企管培训资料下载)2019/9/29CashFlowAnalysis7CashFlowFromOperationsBalanceSheetlastyearBalanceSheetthisyearIncome&ExpensethisyearChangesintheBalancesheet“closetsplusthedepreciationadjustedincome(企管培训资料下载)2019/9/29CashFlowAnalysis8CashFlowfromOperationsProfit(“thebottomline”oftheI&EStatement)Plus7year-to-yearchangeadjustments(BalanceSheet)1.Accountsreceivable2.Inventory3.Prepaidexpenses4.Depreciation5.AccountsPayable6.AccruedExpenses7.IncomeTaxPayableCashflow,liketheBalanceSheetusesCASHACCOUNTINGNotACCRUALACCOUNTING(企管培训资料下载)2019/9/29CashFlowAnalysis9OperatingCashFlowComments•NetIncomeisfromthebottomlineofI&EStatement(DepreciationAdjusted)•IncreasesinOperatingAssetsdecreasecashflowfromprofit(AR,Inventory,PrepaidExpenses)•Increasesinliabilities“help”cashflow(AP,AccruedExpenses,IncomeTaxPayable)(企管培训资料下载)2019/9/29CashFlowAnalysis10GrowthConsumesCa$h!•Increasingrevenuewithcontrolledexpenseswillresultinincreasedprofits•Revenueincreasesalsodriveincreasesinoperatingassets•CashincreasesarenotaslargeasprofitincreasesbutaredelayedbecauseofAR•Decliningbusinessesexperienceoppositeeffectandcanexperienceincreased“cashflow”overprofitchanges(企管培训资料下载)2019/9/29CashFlowAnalysis11Depreciation&OperatingCashFlow•Depreciation:Sincethecompanypaidcashforthefixedassetswhenitboughtthem,thecompanydoesnotconsumecashasecondtimewhenitusesthem•ThedepreciationoftheI&EStatementistherefore“addedback”forcashflowpurposes(企管培训资料下载)2019/9/29CashFlowAnalysis12BalanceSheetAssetsCash+AccountsReceivable+Inventory+PrepaidExpenses+Property,Plant&Equipment+AccumulatedDepreciation=TotalAssetsLiabilities&EquityAccountsPayable+AccruedOperatingExpenses+AccruedInterestPayable+IncomeTaxPayable+NotesPayable+Capitalstock+RetainedEarnings=TotalLiability&EquityCashFlowStatementCashFlowFromOperatingActivitiesNetIncome-AccountsReceivableIncrease-InventoryIncrease-PrepaidExpensesDecrease+DepreciationExpense-AccountsPayableIncrease-AccruedExpensesIncrease=CashFlowformOperatingActivitiesCashFlowFromInvestingActivities-PurchasesofProperty,Plant&EquipmentCashFlowsFromFinancingActivities+Short-TermDebtBorrowing+Long-TermDebtBorrowing+CapitalStockIssue-DividendsPaidtoStockholders=IncreaseinCashforYearBalanceSheet/CashFlowInteractions(企管培训资料下载)2019/9/29CashFlowAnalysis13PurchasesofProperty,Plant&Equipment•FixedAssetstomodernizeorexpandcapacity•Willbecapitalized(depreciated)(企管培训资料下载)2019/9/29CashFlowAnalysis14TheDepreciationStory1.Capitalassetsareacashflowoutwhentheassetisbought(CashFlow/Investing)2.TheboughtassetsareaddedtotheProperty,Plant&EquipmentlineoftheBalanceSheet3.Theappropriatedepreciationisallocatedforintheperiodthatitis“used”ontheI&E4.ThesumoftheaccumulateddepreciationsfromtheI&Eissubtractedfromthepurchasepriceoftheassetsonthebalancesheet5.TheallocatedI&Edepreciationis“addedback”totheIncomeintheCashFlowanalysis(企管培训资料下载)2019/9/29CashFlowAnalysis15BalanceSheetAssetsCash+AccountsReceivable+Inventory+PrepaidExpenses+Property,Plant&Equipment+AccumulatedDepreciation=TotalAssetsLiabilities&EquityAccountsPayable+AccruedOperatingExpenses+AccruedInterestPayable+IncomeTaxPayable+NotesPayable+Capitalstock+RetainedEarnings=TotalLiability&EquityCashFlowStatementCashFlowFromOperatingActivitiesNetIncome-AccountsReceivableIncrease-InventoryIncrease-PrepaidExpensesDecrease+DepreciationExpense-AccountsPayableIncrease-Accrued