🎓CFA Final Prep All Topics

Cash Flow Ratios and Patterns

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Question

Why can positive CFI from asset sales be a red flag rather than a strength?

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Answer

It may reflect asset liquidation instead of productive reinvestment.

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Question

Under the indirect CFO method, why is a gain on asset sale subtracted from CFO?

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Answer

Because it is non-operating; the cash proceeds belong in CFI.

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Question

Why is persistent net income above CFO a cash flow red flag?

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Answer

It suggests earnings rely heavily on accruals, not cash generation.

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Question

If a firm's CFO is consistently lower than net income, what does that imply about the CFO-to-net-income profile?

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Answer

Weak cash earnings quality; the ratio is likely below a healthy level.

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