Now showing items 55-72 of 72

    • The Impact of Securitizations of Customer-Related Receivables on Cash Flow and Leverage: Implications for Financial Analysis 

      Mulford, Charles W.; Shkonda, Konstantin (Georgia Institute of Technology, 2006-06)
      Understanding the extent to which transactions create recurring cash flow is vital to investment and credit analysis. Two measures of recurring cash— operating cash flow and its closely-related metric, free cash-flow— are ...
    • The Inclusion of Short-term Investments in Operating Cash Flow 

      Mulford, Charles W.; Ely, Michael L.; Patel, Amit; Quiroz, Raul; Martins, Mario (Georgia Institute of Technology, 2003-09)
      Companies use short-term investments as a vehicle to park surplus cash. When such investments are classified as trading securities, cash used in their purchase and proceeds provided from their sale are included in operating ...
    • Lease Capitalization, Financial Agreements and EBITDA 

      Mulford, Charles W.; Turner, James; Singh, Vipul Pratap (Georgia Institute of Technology, 2007-11)
      EBITDA, earnings before interest, taxes, depreciation and amortization, is used by many firms as a measure of performance in financial covenants and incentive compensation agreements. In 2009, when the FASB, in conjunction ...
    • A Look at Cash Flow and Earnings Growth for the S&P 100 

      Mulford, Charles W.; Ely, Michael L.; Martins, Mario; Patel, Amit (Georgia Institute of Technology, 2004-12)
      Excess Cash Margin, ECM, calculated by dividing by revenue the difference between adjusted operating cash flow and adjusted operating earnings, provides useful insight into the relationship between cash flow and earnings. ...
    • Misleading Signals from Operating Cash Flow in the Presence of Noncontrolling Interests 

      Unknown author (Georgia Institute of Technology, 2013-01)
    • Natural Hedges and the Management of Foreign Currency Risk: An Effective Antidote to Hedge Accounting (July, 2011) 

      Mulford, Charles W.; Comiskey, Eugene E. (Georgia Institute of Technology, 2011-07)
      In this report we examine more closely the use of natural hedges. Given their effectiveness in limiting earnings volatility while bypassing the risks associated with hedge accounting, natural hedges are gaining in importance ...
    • Negative Goodwill: Issues of Financial Reporting and Analysis Under Current and Proposed Guidelines 

      Mulford, Charles W.; Comiskey, Eugene E. (Georgia Institute of Technology, 2007-10)
      Under current GAAP, initial bargain-purchase amounts, also known as negative goodwill (NGW) or the excess of the fair value of acquired net assets over the cost of an acquisition, are typically reduced or eliminated ...
    • Net Income Plus Depreciation, Operating Cash Flow and Buildups in Operating Working Capital 

      Mulford, Charles W.; Jayko, James (Georgia Institute of Technology, 2007-01)
      While there are many advantages to a simple and readily available proxy for operating cash flow, there are inherent shortcomings as well. Such is the case with net income plus depreciation & amortization, a metric sometimes ...
    • Non-Cash Investing and Financing Activities and Free Cash Flow 

      Mulford, Charles W.; Ely, Michael L.; Patel, Amit; Martins, Mario (Georgia Institute of Technology, 2004-12)
      Items of property, plant and equipment are often acquired through non-cash investing and financing activities. In these transactions, equipment-purchase financing is provided at the time of purchase. While such transactions ...
    • The Non-designation of Derivatives as Hedges for Accounting Purposes 

      Mulford, Charles W.; Comiskey, Eugene E. (Georgia Institute of Technology, 2008-09)
      The FASB recently issued Proposed Statement of Financial Accounting Standards, Accounting for Hedging Activities: An Amendment of FASB Statement No. 133. The proposed standard simplifies the accounting for hedging activities ...
    • Off Balance Sheet Entities: A Preliminary Look at the Effects of Interpretation 46 

      Mulford, Charles W.; Ely, Michael L.; Hudson, Katie; Maloney, Kerianne; Moses, Andrew (Georgia Institute of Technology, 2003-03)
      On January 17, 2003, the Financial Accounting Standards Board (FASB) issued Interpretation No. 46 – Consolidation of Variable Interest Entities. Given companies' widespread use of VIEs (formerly SPEs) to finance their ...
    • The Potential Consequences of the Elimination of LIFO as a Part of IFRS Convergence 

      Mulford, Charles W.; Comiskey, Eugene E. (Georgia Institute of Technology, 2008-12)
      The SEC has proposed the full adoption of IFRS by U.S. filers by 2014, with larger firms adopting the international standards as early as 2010. One important change to U.S. accounting standards that would accompany a move ...
    • A Re-examination of Cash Flow Reporting in the Presence of Overdrafts 

      Mulford, Charles W.; Ely, Michael L.; Hudson, Katie; Maloney, Kerianne; Moses, Andrew (Georgia Institute of Technology, 2003-06)
      Numerous companies maintain cash overdraft balances. These seemingly innocuous accounts can have material effects on reported amounts of cash and operating cash flow. In this report, updated from the original published in ...
    • Seeking Guidance for the Dow? Try GDP 

      Mulford, Charles W.; Ely, Michael L.; Maloney, Kerianne; Martins, Mario; Quiroz, Raul; Jayaraman, Narayanan (Georgia Institute of Technology, 2004-12)
      With the Dow Jones Industrial Average once again trading above 10,000, investors understandably are wondering where the blue chips are headed next. An interesting long-term perspective on the subject can be gained by ...
    • Seeking Guidance for the Dow? Try GDP 

      Mulford, Charles W.; Jayaraman, Narayanan (Georgia Institute of Technology, 2007-08)
      With recent market volatility, investors are understandably concerned about where blue-chip stocks are headed next. An interesting long-term perspective on the subject can be gained by examining the extent to which Nominal ...
    • Seeking Guidance on the Dow? Try GDP 

      Mulford, Charles W.; Jayaraman, Narayanan (Georgia Institute of Technology, 2011-06)
      Following the market swoon of 2008 and 2009, equity prices have enjoyed a significant rebound. Investors are understandably interested in where stocks are headed next. An interesting long-term perspective on the subject ...
    • SFAS No. 150 and Mandatorily Redeemable Preferred Stock 

      Mulford, Charles W.; Ely, Michael L.; Maloney, Kerianne; Martins, Mario; Quiroz, Raul (Georgia Institute of Technology, 2003-10)
      In May 2003, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards No. 150 – Accounting for Certain Financial Instruments with Characteristics of Both Liabilities and Equity. This ...
    • Triggering Events and Goodwill Impairment Charges 

      Mulford, Charles W.; Comiskey, Eugene E. (Georgia Institute of Technology, 2010-10)