IMPORTANT

Question 1

Cash Flow per Share

Answer 1

Not required for GAAP

IFRS does not prohibit

Question 2

Bank Overdraft

Answer 2

GAAP - not cash, part of CF Financing

IFRS - Part of cash if integral part of cash management

Question 3

Stock rights, stock splits

Answer 3

No J/E, memo only for issuer

Question 4

Treasury Stock

Answer 4

Cost - G/L on reissuance
Par - G/L on repurchase

Stock dividends only if with ratio is maintained and supported by law

Question 5

Cash Flow Disclosures

Answer 5

Direct Method
1.  Reconciliation of NI to CF Operating
2.  Non-cash Investing and Financing
3.  Accounting Policy
Indirect Method
1.  Cash paid for interest ad taxes
2.  Non-cash Investing and Financing
3.  Accounting Policy

Question 6

Cash Flow - Commercial

Answer 6

Operating - CA and CL, I/S
interest, taxes, dividends received
Investing - Non-CA
Financing - LT and C/S, dividends paid

Question 7

Cash Flow - Govt

Answer 7

Direct only
Operating - interfund reimbursements (payments in lieu of taxes
Capital and related Financing - all with capital
- interest paid
Non-capital Financing - interest paid
Investing - interest received

Question 8

Cash Flow - Non-Profit

Answer 8

Operating - unrestricted
Investing - Disbursements from restricted
Financing - Proceeds for restricted
Exclude donor restricted securities from cash

Question 9

Investment in Equity - Permanent Difference

Answer 9

Ownership 0-19% 70% exclusion
Ownership 20-80% 80% exclusion
Ownership 100% 100% exclusion

Question 10

IFRS prohibits

Answer 10

Extraordinary items
Accounting change in Entity
LIFO

Question 11

OCBOA

Answer 11

No cash flow statement