This management accounting assignment analyzes the application of free cash flow (FCF) and discounted cash flow valuation (DCFV). It examines General Mills, Inc. focusing on FCF levels after 2009 and its growth at a 3% rate. Additionally, it explores Kimberly-Clark Corporation's FCF using both Method 1 and Method 2 for detection and identification of FCF. The assignment incorporates relevant literature from prominent accounting researchers.