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THE STATEMENT OF CASH FLOWS: PREPARATION GUIDANCE AND PRESENTATION ILLUSTRATIONS

From its humble beginnings way back in 1963 when the Accounting Principles Board 'encouraged' the presentation of a funds statement, the Statement of Cash Flows has made its way to a required, critical, and often considered the most important financial statement in an entity’s financial reporting package. This course will provide you with an overall review of the authoritative literature used for preparing a statement of cash flows, FASB Accounting Standards Codification (ASC) 230, Statement of Cash Flows, as well as implementation guidance and real-world presentation examples from published financial statements. Hands-on exercises will be used to help you apply the requirements and guidance which can be challenging especially in those situations when non-operating changes in assets and liabilities are involved. Disclosure requirements will also be reviewed and illustrated across a number of accounting standards.

Major Topics:

  • FASB ASC 230, Statement of Cash Flows
  • The indirect and direct methods for preparing the operating section
  • Operating activities, investing activities, and financing activities
  • Disclosure requirements and issues

Learning Objectives:

  • Understand and apply the professional requirements and guidance for preparing a statement of cash flows found in FASB ASC 230, Statement of Cash Flows
  • Identify and properly classify transactions and events on the statement of cash flows
  • Review presentation and disclosure issues relating to the statement of cash flows
  • Prepare the statement of cash flows in accordance with U.S. GAAP

Designed For: Accounting practitioners in public practice and business and industry involved in preparing the statement of cash flows; other financial professionals who review, analyze, and use the statement of cash flows including lenders, creditors, investors, and financial analysts
Level of Knowledge: Basic
Prerequisite: None
Advanced Preparation: None
Credits: 4
Field of Study: Accounting(4)
CFP Credit: No




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