Statement of cash flo - Study guides, Class notes & Summaries

What is the purpose of the statement of cash flows? It is a required part of a full set of F/S that provides info about the sources of cash/cash equivalents and the uses of cash/cash equivalents. It reconciles cash/cash equivalents from the beginning Balance sheet, to the ending Balance sheet. It also presents info about material noncash events. Cash flow per share is not presented under GAAP. It is not prohibited under IFRS however. What are the three sections of a statement of cash fl...

Statement of Cash Flows Shows the changes in cash for the same period of time as that covered by the income statement. The cash flow statement shows all sources of cash and all of the uses of cash. Provides information about cash receipts (inflows) and cash payments (outflows). How does the statement of cash flows differ from the other major financial statements? The other financial statements are based on accrual accounting (the realization principle and the matching concept) whereas t...

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Chapter 3—Income Flows versus Cash Flows: Understanding the Statement of Cash Flows MULTIPLE CHOICE 1. One rationale for the statement of cash flows is to a. ensure that the cash account balances at year-end. b. reconcile differences between net income and cash receipts and disbursements. c. calculate the company’s free cash flow. d. examine the cash effects of income from discontinued operations, extraordinary items and changes in accounting principles. 2. Which of the follo...

Definition: Financial statement that shows the sources and uses of cash for the accounting period. Statement of Cash Flows (SCF) True or False: The SCF shows the effects on cash of a business's operating, investing, and financial activities for the accounting period. True What is cash defined as in relation to the statement of cash flows? Cash and cash equivalents True of False: Cash and cash equivalents are considered cash receipts or cash disbursements for SCF purposes...

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ACG Exam -3 Statement of Cash Flows

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CHAPTER 14 STATEMENT OF CASH FLOWS QUESTIONS WITH CORRECT ANSWERS Statement Of Cash Flows CORRECT ANSWER -Assess a company's ability to manage cash flows -Determine if short-term financing is needed to pay current liabilities -make decisions about dividend -plan for investing and financing needs Operating Activities CORRECT ANSWER Cash Transactions involving normal day-to-day activities Net Income CORRECT ANSWER +Operating Depreciation Expense CORRECT ANSWER +Operating Amortizat...