FINANCIAL ANALYSIS AND FORECASTING (HEC-MONTREAL) Fundamentals of Corporate Finance 2002 McGraw-Hill Ryerson, Ltd Slide 12 T2.6 Cash Flow Summary  I.The cash flow identity Cash flow from assets = Cash flow to creditors (bondholders) + Cash flow to stockholders (owners) This is based upon the balance sheet identity: Assets = Liabilities + Equity The equivalent cash flow statement is: cash flow to creditors Cash flow from assets = + cash flow to stockholders
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