Statement of Cash Flows Flashcards
Goodwill impairment is added back to _______ activities
operating
The use of the direct or indirect method only affects the ________ activities section
operating
Cash received from customers (direct method) calculation
Revenues - increase in revenues + decrease in receivables + increase in unearned revenue - decrease in unearned revenue
Cash paid to suppliers (direct method) calculation
COGS + increase in inventory - decrease in inventory - increase in accounts payable + decrease in accounts payable
Cash paid to employees (direct method) calculation
salaries and wages expense - increase in wages payable + decrease in wages payable
Other operating cash payments (direct method) calculation
other operating expenses - decease in prepaids + increase in prepaids + decrease in accured liabilities - increase in accrued liabilities
Depreciation and amortization of a discount is _______ to operating activities
added back
Losses are ______ to operating activities
added back
Gains and amortization of premiums are ________ from operating activities
subtracted
Increases in assets are an _______ in operative activities
outflow
Decreases in assets are an _______ in operating activities
inflow
Increases in liabilities are an ______ in operating activities
inflow
Decreases in liabilities are an _____ in operating activities
outflow
Investing activities deal with changes in _______ assets
noncurrent
Financing activities deal with changes in:
interest-bearing debt and equity
Noncash investing and financing activities that are material need:
separate disclosure
Paying taxes are an ______ activity
operating
Purchasing/selling trading securities are an _______ activity
operating
Collecting interest, collecting dividends, and paying interest on debt are ________ activities
operating
IFRS allows more ______ than GAAP
flexibility
Interest received can be either _____ or _____ under IFRS
operating; investing
Interest paid can be either ______ or ______ under IFRS
operating; financing
Dividends received can be either ______ or ______ under IFRS
operating; investing
Dividends paid can be either ______ or _______ under IFRS
operating; financing
Under IFRS, taxes paid can be:
operating, investing, or financing
IFRS _______ require a reconciliation of NI to operating cash flow when using the direct method
does not
