Chapter 12 The Statement of Cash Flows

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Author:
davecowman
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307713
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Chapter 12 The Statement of Cash Flows
Updated:
2015-09-13 19:22:54
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Stateofcashflows
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The Statement of Cash Flows
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  1. Statement of cash flows
    The financial statement that summarizes an entity's cash receipts and cash payments during the period from operating, investing,and financing activities.

    The statement of cash flows reports the changes in cash over a period of time and, most importantly, explains those changes.
  2. Balance Sheet
    Summarizes the cash on hand and the balances in other assets, liabilities, and owner's equity accounts, providing a snapshot at a specific point in time.
  3. Income Statement
    The income statement summarizes performance on an accrual basis
  4. Cash equivalent
    An item readily convertible to a known amount of cash with a maturity to the investor of three months or less.
  5. Operating Activities
    Activities concerned with the acquisition and sale of products and services.
  6. Investing activities
    Activities concerned with the acquisition and disposal of long term assets.
  7. Financing activities
    Activities concerned with the raising and repaying of funds in the form of debt and equity.
  8. Direct method
    For preparing the Operating Activities section of the statement of cash flows, the approach in which cash receipts and cash payments are reported.
  9. Indirect Method
    For preparing the Operating Activities section of the statement of cash flows, the approach in which net income is reconciled to net cash flow from operations.

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