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This case introduces the Statement of Cash Flows by way of a general explanation of the purpose and format of the statement, followed by an assignment involving the analysis of three very different companies' statements of cash flows. The latter should stimulate significant in-class discussions and learning opportunities. Although all 3 statements are IFRS-compliant, the examples include both the direct and indirect methods.

The CFO of Flash Memory, Inc. prepares the company's investing and financing plans for the next three years. Flash Memory is a small firm that specializes in the design and manufacture of solid state drives (SSDs) and memory modules for the computer and electronics industries. The company invests aggressively in research and development of new products to stay ahead of the competition. Increased working capital requirements force the CFO to consider alternatives for additional financing. In addition, he must also consider an investment opportunity in a new product line that has the potential to be extremely profitable. Students must prepare financial forecasts, calculate the weighted average cost of capital (WACC), estimate cash flows, and evaluate financing alternatives. This case is especially recommended as a final exam case for a standard MBA-level course in corporate finance.

Spreadsheet Supplement for 4230.

The chief executive officer (CEO) of East Cameron Partners LP, is interested in raising capital to buy out his existing 50 per cent partner thereby regaining control of the firm and enabling him to finance new growth. Because of the risky nature of the oil and gas business and relatively small size of East Cameron, the CEO has limited alternatives available to him. The case discusses the standard alternatives available to small and medium sized enterprises to raise capital but it also provides particular focus on a new alternative, a Sukuk Bond.

In early January, 2009 the president of Invesco Trimark Ltd. (Invesco Trimark) was optimistic about the year ahead, particularly when compared to the perfect storm of 2008. That year saw global investment markets in turmoil, and Invesco Trimark's mutual fund assets had plummeted to almost half its value. The president and his team had spent nearly a year working and re-working a new product launch and by 2009 thought they had developed a unique and differentiated idea that would be difficult for the competition to replicate. This idea was to introduce to the Canadian market a suite of exchange-traded funds (ETFs) built around investments managed by Invesco Trimark's sister company in the United States. This new product combined key features of ETFs traded on U.S. exchanges with key features of Canadian mutual funds. As innovative and exciting as ETFs promised to be, the president knew that it would be met with reservation from Invesco Trimark's traditional mutual fund distributors who remained skeptical. The president wondered how best to communicate the new product idea given the contradictory and competing ideas that existed not only in the market but in his own firm. Was it possible for mutual funds and ETFs to co-exist?

Recent dramatic global events suggest that the future financial landscape will be much different than what we see today. In a world where money, people and ideas can move faster than ever before, even the smallest events can have a tremendous impact on the entire world. The report outlines key categories that will have significant impact on tomorrow's world in order to better inform today's investor. Topics of the discussion include new financial regulations; emerging markets; challenges in the developed world; new technologies; socially responsible investing; and social media and the speed of information dissemination.

Recent dramatic global events suggest that the future financial landscape will be much different than what we see today. In a world where money, people and ideas can move faster than ever before, even the smallest events can have a tremendous impact on the entire world. The report outlines key categories that will have significant impact on tomorrow's world in order to better inform today's investor. Topics of discussion include demographics with a focus on the baby boomer generation; regulatory changes; new technologies; complex trading instruments; the green movement; and the communication age.

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