80 / 104
Current period
Prior period
Audited
Audited
January 1 -
January 1 -
Notes
December 31, 2016
December 31, 2015
Cash flows from operating activities:
Net profit for the year
831.165
4.276.061
Adjustments for the reconciliation of net profit and net cash
gained from operating activities:
Entrance fees and accrued shareholding costs
11
(228.412)
55.746
Depreciation and amortization
6, 7
502.799
471.785
Tax adjustments
12
451.420
809.434
Provision for employee termination benefits
9
61.080
35.248
Provision for unused vacation liability
9
35.049
23.396
Provision for doubtful receivables
49.000
-
Interest income
16
(1.268.037)
(1.015.858)
Cash flows from operating activities before changes in
operating assets and liabilities
434.064
4.655.812
Changes in trade receivables, other receivables and prepaid expenses
4
190.553
(276.959)
Changes in current period tax assets
7
(981)
3.140
Changes in other current assets
14.255
189.503
Changes in other non current assets
195
4.828
Changes in trade payables
8
89.708
(294.608)
Changes in employee benefit obligations
9
(13.823)
63.194
Changes in other payables and other liabilities
(61.092)
(1.265.834)
Tax paid
12
(657.794)
(612.652)
Employee termination benefits paid
(24.787)
(5.850)
Net cash provided from operating activities
(29.702)
2.460.574
Cash flows from investing activities:
Interest received
16
1.275.770
981.271
Cash flow from tangible and intangible asset purchase
5, 6
(282.545)
(87.377)
Cash flows from investing activities
993.225
893.894
Net cash (used in) financing activities
-
-
Net changes in cash and cash equivalents
963.523
3.354.468
Cash and cash equivalents at the beginning of the period
3
10.087.329
6.732.861
Cash and cash equivalents as of December 31, 2016
3
11.050.852
10.087.329
(All amounts expressed in Turkish Lira (“TL”))
The accompanying notes form an integral part of these consolidated financial statements.
Consolidated statement of cash flows
for the year ended December 31, 2016
Finansal Kiralama, Faktoring ve Finansman Şirketleri Birliği ve Bağlı Ortaklıkları
78
Annual Report 2016
The Association of Financial Institutions