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Chapter 12 - STATEMENT OF CASHFLOWS

Revised Summer 2018 Chapter 12 review 1 Chapter 12 - STATEMENT OF CASHFLOWS LO 1: Discuss the usefulness and format of the STATEMENT of cash flows. USEFULNESS OF THE STATEMENT OF CASH FLOWS STATEMENT of Cash Flows: reports the cash receipts and cash payments from operating, investing, and financing activities during a period. Provides information to help assess: 1. Entity s ability to generate future cash flows. 2. Entity s ability to pay dividends and meet obligations. 3. Reasons for difference between net income and net cash provided (used) by operating activities. 4. Cash investing and financing transactions during the period. CLASSIFICATION OF CASH FLOWS OIF I can pass Operating, Investing, and Financing 1. Operating Activities: the cash effects of transactions that create revenues and expenses.

Revised Summer 2018 Chapter 12 Review 4 LO 2: Prepare a statement of cash flows using the indirect method. Statement of cash flows is prepared differently from the three other basic financial statements. Three sources of information: 1. Comparative balance sheets: indicates the amount of changes in asset, liability, and

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