Книга "Free Cash Flow. Seeing Through the Accounting Fog Machine to Find Great Stocks" написана с целью объяснить, что такое свободный денежный поток (Free Cash Flow) и как использовать его для увеличения доходности инвесторов. Автор объясняет различия между свободным денежным потоком и прибылью, рассчитанной по принципам GAAP (Generally Accepted Accounting Principles), а также приводит преимущества свободного денежного потока по сравнению с показателями GAAP. Шаг за шагом автор описывает свой собственный отчет о свободном денежном потоке и приводит формулы, которые позволяют определить, как каждый из четырех видов использования свободного денежного потока может повысить или понизить доходность акционеров. В книге автор применяет концептуальные основы свободного денежного потока и доходности инвесторов на практике на примере компании McDonald's. Читатель пошагово проходит по таблице доходности инвесторов автора, в которой моделируются финансовые отчеты McDonald's за три года и прогнозируется свободный денежный поток и доходность инвесторов за один год. Кроме того, сравниваются пять других ресторанных компаний, используя как показатели свободного денежного потока, так и показатели GAAP.
The purpose of this fascinating book is the explanation of the accounting procedure known as "Free Cash Flow" and how this could be used to raise investor profit. Author of this wonderful book explains the relationship between Free Cash flow and traditional accounting earnings, and describes the disadvantages of traditional earnings per share (EPS), as well as advantages of free cash flow. Having explained all this the author takes you through step by step on a free cash flow statement they created in their book wich illustrates the way in which enhancing or reducing shareholder profit can be achieved using formulas.
Later in the book, the author applies the theoretical models created using the free cash flow concept to a real company, McDonalds, illustrating investor happiness through their computed spreadsheet investment model. Details such as three yeas worth of historical financial projections and a projection of one years free cashflow and investor profits; This book uses a lead-in to compare five well known restaurant giants using free cash flow as well as traditional EPS metrics investing into a hypothetical spread sheet.
This book would not only be invaluable in providing newfound knowledge about Free CashFlow accounting, but would also assist any interested investors in the process of enriching their portfolio profits.
Электронная Книга «Free Cash Flow. Seeing Through the Accounting Fog Machine to Find Great Stocks» написана автором George Christy C. в году.
Минимальный возраст читателя: 0
Язык: Английский
ISBN: 9780470438091
Описание книги от George Christy C.
The purpose of this book is to explain Free Cash Flow and how to use it to increase investor return. The author explains the differences between Free Cash Flow and GAAP earnings and lays out the disadvantages of GAAP EPS as well as the advantages of Free Cash Flow. After taking the reader step-by-step through the author's Free Cash Flow statement, the book illustrates with formulas how each of the four deployments of Free Cash Flow can enhance or diminish shareholder return. The book applies the conceptual building blocks of Free Cash Flow and investor return to an actual company: McDonald's. The reader is taken line-by-line through the author's investor return spreadsheet model: (1) three years of McDonald's historical financial statements are modeled; (2) a one-year projection of McDonald's Free Cash Flow and investor return is modeled. Five other restaurant companies are compared to McDonald's and each other using both Free Cash Flow and GAAP metrics.
