Hello to all!
A study CVA method which was created by: F. Weissenrieder, article:
«Erik Ottosson & Fredrik Weissenrieder, 1996-03-01, Cash Value Added - a new method for measuring financial performance»

He said that CVA is = OCF – ODCF

The question is about OCF….
They said in article:
«It includes only cash items, i.e. Earnings Before Depreciation Interest and Tax (EBDIT, adjusted
for non-cash charges), working capital movement and non-strategic investments. The sum of
those three items is the Operating Cash Flow (OCF).»

But If I Sum this three items (EBDIT, Working Capital , Non Str. Investment)….then where is Profit TAX? Why is EBDIT doesn’t multiply on *(1-T)??? If company really paid it and for this sum reduced investor income….
Please help!

And Sorry for my English…..