1. Describe the MACRS depreciation system. 2. What is the depreciable cost of an asset according to the MACRS? 3. What are the cash flows included in the statement of cash flows? 4. What do the cash flows of the financing activities include? 5. How is the free cash flow (FEL) calculated? 6. Define the following terms: a. Free cash flow (FEL) b. Operational cash flow (OEF) c. Depreciation d. MACRS depreciation method e. Strategic financial plans F. Operational financial plans g. Pro-forma financial statement h. Cash budget i. Cash budget 7. What is the importance of the analysis of the statement of cash flows? 8. What are the sources of cash flow for organizations? 9. What cash flows include cash flows from operating activities? 10. What is the impact of depreciation on the income and expense report? 11. What is the main purpose of preparing the pro-forma financial statements? 12. How do you start the financial planning process? 13. What is the main purpose of preparing a cash budget? 14. What are the key aspects of a financial planning process? 15. What are the pro-forma financial statements used for? 16. How can excess projected cash be handled? 17. Review the exercises related to the preparation of a cash budget