Key Concepts and Skills Know the difference between book value and market value Know the difference between accounting income and cash flow Know the difference between average and marginal tax rates Know how to determine a firm's cash flow from its financial statements 22 Key Concepts and Skills n Know the difference between book value and market value n Know the difference between accounting income and cash flow n Know the difference between average and marginal tax rates n Know how to determine a firm’s cash flow from its financial statements