1. a) How is the forecasting of financial statements related to equity analysis?

(b) Is all fundamental analysis based on information found in financial statements?

2. Why do analysts need to be acutely conscious of changes in a companys cash-generating capability that are not paralleled by changes in earnings?

3. a) What is the added level of analysis (beyond sources and uses of cash) that prompted FASB to prescribe a more comprehensive definition of operating cash flows?

(b) What are the differences, if any, between EBITDA and operating cash flow?