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 related to preparing a statement of cash flows, in accordance with ASC 230, Statement of Cash Flows. The course also provides implementation guidance and real-world presentation examples from published financial statements. The course also addresses recent ASUs related to the preparation of the statement of cash flows and explores complex areas, such as determining cash flows from currency denominated in foreign currencies. Hands-on exercises will help you to apply the often challenging and confusing requirements and guidance.
DESIGNED FOR
Accounting practitioners in public practice and industry involved in preparing the statement of cash flows; financial professionals who review, analyze, and use the statement of cash flows including lenders, creditors, investors, and financial analysts
BENEFITS
- 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
- Recent ASUs impacting the preparation of the statement of cash flows
HIGHLIGHTS
- 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
PREREQUISITES
None