• Assets are either current or fixed. A current asset has a life of less than one year. A classic example of current asset is inventory.
• Liabilities are either current or long-term. A debt that is not due in the coming year is classified as a long-term liability.
• Assets = Liabilities + Shareholder’s equity
• Net working capital (NWC): The cash available over the next 12 months. NWC = Current assets – current liabilities. Usually positive in healthy firms.
• Liquidity: the speed and ease with which an asset can be converted to cash, losing the minimum of its value during the transaction.
• Book value is the value written on the balance sheet. Market value is what the assets are actually worth.

• Cash Flow:  the difference between cash that came in and cash that went out.
• Cash flow from assets (CFFA): By definition, cash flow to creditors + cash flow to stockholders. Calculation is as follows —- Operating Cash Flow (OCF) – Net Capital Spending (NCS) – Chances in NWC.
• OCF: Earnings before interest and taxes + depreciation – taxes
• NCS: Ending net fixed assets – beginning net fixed assets + depreciation
• Changes in NWC: Ending NWC - beginning NWC
• Cash flow to creditors: Interest paid – net new borrowing
• Cash flow to stockholders: Dividends paid – net new equity raised

but realized his lips didn’t quite look like that. Shame.

Anyways, ignore the lips and he looks quite similar to the original poster.

Benjamin Button

Worked with Photoshop 7, Wacom Bamboo Fun tablet model CTE-650.

Being an avid cupcake-worshiper I am, I’ve spent countless days and nights looking for at least a decent cupcake shop in this city. But cupcake just never was in season in this part of the world… until last winter.

If you go to Hyudai department stores located in Apgujeong and Coex area, there’s a very neat cupcake place named “Good Ovening” selling the best cupcakes in whole Seoul. One cupcake costs about 4,500 won (I suppose that would be around $3.50 to $4), rather expensive compared to the size, yet the taste is magnificent. The pictures following are some of my favourite flavours: Apple Cinnamon, Peach and Banana from left to right.

Caution: The two stores offer different cupcakes. They don’t have peach flavour in Apgujeong while Coex Hyndai don’t have chocolate with green tea flavour.

If you go to naver.com (Korean version of Google, yet fancier in appearance) and type in “good ovening”, you’ll find the website offering the menu.

Enjoy your cupcakes!

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I hope your stay at the Library would always be remembered as a pleasant and useful experience.