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Bus/Financial - Construction / Civil Engineering / tècnic/financer/economia | | English term or phrase: cash/revolver plug | In financial modeling, balancing the balance sheet uses "plugs".
The plug on the asset side is called “excess cash” and is assumed be cash. Historical numbers have only one cash line,
but in forecasts we can also continue to assume a level of cash required for operational purposes; this line would then be called “cash” or “minimum cash.” Any cash produced by the interactions of the forecast assumptions above this minimum cash would be “excess,” which is why this is called “excess cash.” Excess cash comes into play when the modeling assumptions produce a liabilities and equity side that outpaces the assets side. In other words, there is more cash than can be used in buying assets.
The plug on the liabilities side is called a “revolver” and is
generally assumed to be debt. A revolver is a credit line that a company has with a financial institution: the company can borrow on it when required and then repay it if it has cash on hand. The credit line is renewed regularly, so it “revolves” from year to year, and that is why it is called a revolver. The revolver comes into play when the modeling assumptions
result in an assets side that outpaces the funding side: more
assets to be bought, but not enough funding. |
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