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6 Cards in this Set
- Front
- Back
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Statement of Cash Flows |
The financial statement that summarizes an entity's cash receipts & cash payments during the period from operating, investing and financing activities |
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Operating Activities (chp 12) |
Activities concerned with the acquisition and sale of products and services |
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Investing Activities (chp 12) |
Activities concerned with the acquisition and disposal of long-term assets |
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Financing Activities |
Activities concerned with the raising and repaying of funds in the form of debt and equity |
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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 |
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Indirect Method |
For preparing the Operating Activities section of the statement of cash flows, the approach om which net income is reconciled to net cash flow from operations |
