This podcast is brought to you by HEC Paris Prof: First of all it is very important to see that this type of cash flow was presented using the direct method Why?

本播客由巴黎高等商学院呈现，教授：首先，看到用直接法来描述这种类型的，现金流是很重要的，为什么？

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When you are doing projections for future years, I encourage management teams to project the income statement first, then the cash flow statement, and then end up with the balance sheet.

当你为未来数年作规划时，我建议管理团队首先要为损益表作规划，然后是现金流量表，最后是资产负债表。

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If your first cash flow occurs at the beginning of the first period, the first value must be added to the NPV result, not be included in the NPV calculation.

如果第一个现金流出现在第一期的开始，则第一个值必须加到NPV结果中，而不是包含在NPV计算中。

youdao

The popular idea that a company is no more than the net present value of its future cash flow depends on guessing first what that cash flow is going to be, and then what future interest rates are going to be.

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Exclusive Resorts and Private Retreats have each had a positive cash flow from their first day of operation.

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Meanwhile, they lost sight of improving balance sheets and excess cash flow, a first for this industry in its 35-year jet history.

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