현금흐름모형 고찰에 의한 확장모형의 개발 및 적용Development and Implementation of Extension Models Based on the Review of Cash Flow Models
- Other Titles
- Development and Implementation of Extension Models Based on the Review of Cash Flow Models
- Authors
- 최성운
- Issue Date
- 2013
- Publisher
- 대한안전경영과학회
- Keywords
- Extended Models; Cash Flow Models; ECA; Cash BEP; CFS; Reclassification; Financial Position; Comprehensive Income
- Citation
- 대한안전경영과학회지, v.15, no.4, pp.435 - 448
- Journal Title
- 대한안전경영과학회지
- Volume
- 15
- Number
- 4
- Start Page
- 435
- End Page
- 448
- URI
- https://scholarworks.bwise.kr/gachon/handle/2020.sw.gachon/15013
- DOI
- 10.12812/ksms.2013.15.4.435
- ISSN
- 1229-6783
- Abstract
- The aim of this study is to investigate and develop the extended models for Economic Cash Amount(ECA), Cash Break Even-Point(BEP), and Cash Flow Statement(CFS) by referencing systematic literature review in the field. The study develops three extended models to determine the optimal cash amount: ECA model with interest opportunity cost, financing transaction cost and financing fail cost, ECA model with daily cash supply and interest opportunity cost, ECA model with financing fail cost and interest opportunity cost. Earnings Before Interests, Tax, Depreciation and Amortization(EBITDA) is obtained by subtracting noncash depreciation costs from Earning Before Interest and Tax(EBIT), which is efficient metric to evaluate operating cash flow. The research also develops two extended Cash BEP models, considered as interest and corporate tax, in order to indentify the break-even point as EBITDA equals zero. Furthermore, this paper proposes the modified version of CFS by introducing the reclassification of operating and financing accounts in the statement of financial position. In addition, the study also present the reclassification of five types of profit, such as gross profit, EBIT, ordinary profit, special profit, and net profit within the statement of comprehensive income. In order to provide a better understanding of the proposed cash flow models, numerical examples, such as two-sample t test and Analysis of Variance(ANOVA), are presented to demonstrate the statistical significance according to the industrial types for net working capital(i.e cash-to-cash), net profit, operating cash flow and free cash flow.
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Collections - 공과대학 > 산업경영공학과 > 1. Journal Articles
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