学习必需的技术技能，从而掌握分析财务报表和披露财务信息用于财务分析的能力，并了解会计标准和高管层激励对财务报告流程的影响。学完本课程后，您将学会阅读三种最常见的财务报表：利润表、资产负债表和现金收支一览表。然后，您可以运用所学技能处理现实商务挑战，这也是沃顿商学院商务基础专项课程的组成部分。
3.1.2: Relic Spotter 案例，第 5 部分
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财务会计概论（中文版）
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第 3 周: 周现金流
现金为王！ 首先我们要根据活动目的将现金流分为经营现金流、投资现金流和融资现金流几类。 然后我们将建立和分析现金流量表。 我们将为前面用作示例的创业公司建立和分析现金流量表，对该公司之前的案例进行总结。 最后，我们将讨论营运收入、营运现金流、息税折旧摊销前利润 (EBITDA) 和净现金流的区别。
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Brian J BusheeThe Geoffrey T. Boisi Professor
Accounting
Hello, I'm Professor Brian Bashay, welcome back.
In this video we're going to dig out the Relic Spotter case that we worked on
during the first two weeks, and go through its cash flow transactions to classify
them into operating, investing, and financing buckets.
Which is the first step towards putting together Relic Spotter's statement of
cash flows.
Let's get started.
Let's start with transaction number 1 for the Relic Spotter case.
In this transaction Relic Spotter sold shares to investors.
In the journal entry we debited cash for
$250,000 because the company received cash and then credited Common Stock and APIC.
So here on the right hand side of the screen we'll keep track of all
the cash flows.
And I'll have you try to guess whether the cash flow is operating,
investing or financing.
So let me put up the pause sign and guess which bucket it would go into.
The answer here is financing.
One of the definitions of a financing activity is cash flows with our owners.
So if we're issuing stock, we're getting stock
from the owners of the company which would make it a financing cash flow.
Next, transaction number 3.
>> Excuse me!
Where is transaction number 2?
Does the cash flow statement only include odd numbered transactions?
Or did you make a mistake, as you often do?
>> Hey, wait a minute, I haven't made that many mistakes.
Well, at least not yet.
There's no transaction 2, in this case, because there was no cash involved for
a transaction 2 in the Relic Spotter case.
It was the transaction where Park was borrowing money on her own account and
we didn't even record it.
If you go back and look at the Relic Spotter journal entries, the only ones we
have to deal with are the ones that have either debits or credits to cash.
So anyway, in transaction number 3, Relic Spotter paid
$3,900 cash in legal fees to incorporate the business.
Try to classify that as operating, investing, or financing.
The answer here is operating cash flow.
Because this is one of the cost or expenses that Relic Spotter needs to incur
to run the business, could we not call this an investing activity?
>> After all, incorporating the business is a long-term cash flow.
At least, we hope.
>> You raised a really good point because we do hope that this
cash flow will have long lasting benefit.
But if you remember we decided to expand this cash flow on income statement, so
to provide compatibility we're going to treat it as an operating activity
on the cash flow statement.
If we had created a long term asset,
then we probably would have treated it as an investing activity.
As you'll see,
a lot of these are going to be really tricky to classify because there's a lot
more art and science into trying to figure out what bucket to put these in.
Next in transaction number 4, Relic Spotter bought land and
building with a mortgage and $31,000 of cash.
So go ahead and try to classify this cash flow as operating,
investing, or financing.
The answer here is, obviously 155,000 cash outflow for
investing and 124,000 cash inflow for financing.
>> Whoa now!
I see a credit to cash for $31,000.
We bought land and building.
Why is this not $31,000 of cash flow for investing activities?
>> Okay, I said obviously when I provided the answer, but
this one's far from obvious.
The issue here is that we did one journal entry but
there were really two separate transactions.
First, we borrowed $124,000 cash from a bank under a mortgage.
That's a financing activity.
The second is that we used that cash,
plus $31,000 of our own cash to buy $155,000 of land and building.
That's an investing activity.
To provide our investors and analysts a clear picture of what we're doing,
we need to split this into the two transactions.
We really borrowed 124,000 from the bank under a financing cash flow,
and we really paid $155,000 cash for land and building as an investing cash flow,
and that's what we need to show on the statement of cash flows.
Transaction number 5, Relic Spotter paid $33,000 cash for
renovation work to the building.
Try to classify that as operating, investing, or financing.
The answer here is investing.
It should be an investing cash outflow of $33,000.
>> I could make a case for operating here.
This seems a lot like routine maintenance to me,
which would be an operating activity.
We talked about this briefly when we did the original transaction, but
the key question here is,
does this expenditure represent a capital improvement, or routine maintenance.
A capital improvement would be anything that increases the value of the building
or its useful life.
We would add that to the building account and depreciate it over time.
And we'd consider the cash flow and investing activity.
Routine maintenance is something you have to do no matter what.
It's already built in the assumptions about the value of the building and
its life.
It gets expensed immediately and that will be considered in an operating cash flow.
So that's the distinction, and
we're going to talk about it more later in the course.
Transaction number 6, Relic Spotter paid $120,000 cash to buy Metal Detectors.
Is that transaction operating, investing, or financing?
And the answer is, $120,000 investing cash outflow.
>> I could make a strong case for operating here.
Our core business is renting metal detectors.
Why would the purchase of said metal detectors not be an operating activity?
>> You are correct that our business is renting metal detectors.
But we're going to rent these metal detectors over and over and
over for up to two years.
Which makes them more like equipment, a long term asset, and
makes the treatment of an investing cash flow more appropriate.
If we're buying these metal detectors and
immediately reselling them like inventory then we would call it operating.
Or if we bought them and we're going to rent them for
less than a year then we might consider them operating.
But the fact that we're going to have them for
more than a year, up to two years, makes this feel more like an investing activity.
Okay, next we're going to skip transaction 7 because that was a non-cash transaction.
Relic Spotter had purchased inventory on account.
And move to transaction 8 where Relic Spotter had paid $2,100 cash for
a three year software site license.
Why don't you try to guess whether that's operating investing or financing.
The answer here is an investing cash outflow of $2,100.
And before the virtual students jump in, I'll just tell you this is like
the prior to where we're investing in a long term asset.
So that's going to make it an investing activity because we're investing for
more than a year.
Transaction number 9, Relic Spotter paid $8,000 cash for
advertising over the next year.
Is that operating, investing or financing?
The answer here would be operating.
The advertising that we're pre-paying is not more than a year.
So by a general rule of thumb,
we would call this an operating activity rather than an investing activity.
>> These last two actually makes sense.
What am I missing?
>> You're not missing anything here.
This one year rule of thumb tends to work pretty well.
If you have an expenditure that's going to benefit you for more than a year,
we tend to call it investing.
If it's going to benefit you for less than a year, we tend to call it operating.
And there are not many exceptions to that.
Well, let's not over complicate this now, I'll just say good job and let's move on.
Moving on to transaction number 10.
Relic Spotter leant $5,000 cash to Rebecca Park as a loan,
which then she has a year to repay.
Is that operating, investing or financing?
And the answer is a $5,000 operating cash outflow.
>> So much for things making sense.
I thought transactions with creditors were financing.
This is a loan.
Why isn't this financing?
>> Actually, in this case, Relic Spotter is the creditor,
because Rebecca Park is borrowing money from the company.
If the company were borrowing money from Rebecca Park, then, yes,
it would be a financing activity.
So, the question now is, if Relic Spotter is lending money to Rebecca Park,
is that an operating or an investing activity?
I decided to make it an operating activity because the loan was only one year.
If the loan was longer than a year, say two years or three years or
five years, then I probably would have made it an investing activity.
But it's not a financing activity because the company is the creditor here, and
if the company is the creditor then it's not a financing activity.
Next, we skip another couple non-cash transactions to go to transaction
number 13.
Here, Relic Spotter paid $2,000 cash to its supplier.
This was for the inventory that it bought at account in transaction 7.
So is this $2,000 cash paid to the supplier, operating,
investing or financing?
The answer here is a $2,000 operating cash outflow.
>> Go on, you are making sense again.
Yeah a payment to a supplier is one of the examples we use to define
an operating activity.
By the way, do you know where the smartest people in America work?
At the US Mint, because all they do all day is make cents.
In transaction number 14,
Relic Spotter paid $2,500 cash to its shareholders for its dividend.
This was the dividend that they declared in transaction 12.
It's actually paid in cash in transaction 14.
So is this $2,500 paid for dividends operating, investing, or financing?
The answer here is financing, a $2,500 financing cash outflow.
>> Makes sense.
Go on.
>> Yes, paying dividends is one of the examples we use to define a financing
activity.
By the way, do you know where you can also find smart reasonable people?
A perfume factory, because all they do all day is make scents.
Next in Transaction 15, Relic Spotter received $1200
cash from the Antiquities Club for future unlimited rentals so
how we do consider this cash received for future rentals?
Operating, investing or financing?
The answer here is operating, it's an operating cash inflow of $1,200.
Which makes sense because we're receiving cash from customers
which is one of the definitions of an operating cash flow.
In transaction 16, Relic Spotter receives cash rental revenue on the metal detectors
total amount of cash is $120,100, is that operating, investing, or financing?
The answer here again is operating, it's an operating cash in flow of
120,100 because again we're receiving cash from customers.
>> Either these have gotten easier or we have gotten smarter.
These all make sense.
>> You have clearly gotten smarter, probably because I'm such a great teacher.
Although I have run out of puns on the word sense, so let's move on.
>> In transaction 17, Relic Spotter paid $38,000 cash for inventory.
Is this operating, investing or financing?
The answer here is operating cash outflow of 38,000,
operating because this is a core expenditure for running our business.
Transaction 18, relics bought or received, $35,000 cash from sales of sundries.
Is this operating, investing, or financing?
The answer here is operating.
Again, this is a cash collection from
customer which is one of the things we use to define an operating activity.
Finally, transaction 20,
Relic Spotter paid $82,000 cash to its employees for salaries and wages.
Is this operating, investing, or financing?
Again, this is operating.
It's an operating cash outflow of $82,000.
Paying our employees is one of our key business activities, so
this would be an operating activity.
Now is the last cash transaction for Relic Spotter because the rest of
the transactions in the case were adjusting entries.
And adjusting entries never involve cash.
So we can go ahead and total everything up.
We see that the bottom line cash balance here is 78,800.
Which if you go back and look is what we end up having at the end of the year for
Relic Spotter.
And we've divided that into an operating cash inflow of $17,400,
Investing cash outflow of $310,100 and financing cash inflow of $317,500.
>> So, we're done.
Now, all we have to do is just list these cash transactions on the cash flow
statement.
In Operating, Investing, and Financing order.
Correct?
>> I wish that was the case,
because then we would be done with the week on cash flow statements.
But if you've looked at the website,
you can see that we have a lot of videos left to go.
And we'll pick this up next video with a discussion of the two different methods
there are for putting together a statement of cash flows.
There's an easy method and a difficult method.
Unfortunately all companies use the difficult method, so
it's going to take a lot of videos to understand that method
which we need to know to understand real company's financial statements.
I'll see you next video.
>> See you next video!
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