How to Figure the Working Capital From
Linklaters - UKLA s approach to risk
The document as a whole should be consistent, with risk factors, business strategy and working capital sections telling the same story. If the issuers future strategic actions may be constrained by lack of working capital, the business description section should not set out. In cases where any issues about the drafting of risk factors are likely to arise it is advisable for issuers to enter into early dialogue with the UKLA to ensure clear and appropriate disclosure. The UK Listing Authority has published a special edition of List! discussing the interaction between working capital statements and risk factors. In reviewing equity prospectuses over the last year or so the UKLA has commented extensively on this topic.
Working capital represents the. How do changes in working capital affect a. Looking at Wal-Marts 2013 quarterly cash flow statement.
Cesr working capital statement
Conclusion Following the principles set out here by the UKLA should help issuers to make appropriate risk disclosure without cutting across the working capital statement, which is regarded by the UKLA as one of the most important disclosures in both prospectuses and circulars.
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