【4:30 a.m.】

Good morning! Became an Early bird, again!
I'm lagging behind the schedule... Gotta speed up!

【6:30 a.m.】

This morning, the biggest achievement was that I understood the notion of Discounted Cash Flow method.

In the past couple of years, I often found the term, "DCF法" or 「ディスカウント・キャッシュフロー法」 on Nikkei News Paper, or 日経新聞.
Whenever the term appeared in an article, it is explained as a method to calculate the PV of a company by discounting its future CF, and I just understood so; I couldn’t understand it any further… I remember Heizo Takenaka referred to this term on TV when he was Financial Services Minister. Even then, I just had such a vague idea about DCF as I read in Nikkei News Paper.



But, today, preparing for the exam of the company, I found a part that explains what the DCF method is and how to calculate it. Though it was not very easy to understand at first, I went over the part again and again.

… and finally, I got it! 「そうか!」と思えたときは、感動(涙)数年越しのモヤモヤが解消しました(嬉)


I’m writing this here on my blog, because, again, I think I wouldn’t have understood the notion without my knowledge that I acquired in my USCPA exam prep. Especially the idea of PV and the technical knowledge about NPV and IRR helped me a lot in understanding the DCF method this morning!! こうしたBECの勉強の経験がなかったら、今朝このDCFの解説を読んでいても多分「ムムム・・・よくわからん!」になっていたと思います。

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それでは、また。 See you tomorrow!!
by nn_77 | 2006-11-08 04:29 | >BEC | Comments(3)