Description:
A statement of cash flows is required as part of a full set of financial statements. It must be prepared in conformity with generally accepted accounting principles (GAAP). The statement is not required if the financial statements are prepared on a basis of accounting other than GAAP. The statement must be included in both annual and interim financial statements. This course discusses the requirements of ASC 230, Statement of Cash Flows (ASC 230-10-45-18 and 45-27). ASC 958-205, Not-for-Profit Entities: Presentation of Financial Statements, requires the statement of cash flows for not-for-profit entities.

Delivery Method:

Level: Overview

Prerequisites: None

Advanced Preparation: None

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Author: Delta Publishing

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Publication Date: 05/03/2018

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Objectives:
1. Recognize the use of and the objectives for a statement of cash flows.
2. Identify between operating, investing, and financing activities, and how different cash variables will affect the statement of cash flows.
3. Identify differences for preparation of the statement of cash flows using the direct method vs. the indirect method.
4. Recognize and calculate how changes and transactions in asset and debt accounts affect the cash flows of a company.
5. Recognize the cash flow issues addressed by ASU 2016-15, Statement of Cash Flows (Topic 230).

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NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.