Cash Flow Statement provides a summary of cash coming into and money going out of a firm from operations activities, financing activities, and investing activities.
<h3>What is
Cash Flow Statement?</h3>
A financial document called the cash flow statement (CFS) outlines the inflow and outflow of a company's cash and cash equivalents (CCE). The CFS gauges how effectively a business manages its cash position, or how successfully it generates cash to cover its debt payments and finance its operating costs. The balance sheet and the income statement are two of the three primary financial statements, and the CFS is the third. We'll outline the CFS's structure and application to company analysis in this article.
A cash flow statement lists all of the cash and cash equivalents that come into and go out of a business.
A company's cash management, especially how successfully it earns cash, is highlighted by the CFS.
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Answer: C nonexistent; that is, there is no such accounting requirement.
Explanation: there is no accounting
assumption that requires that the cost flow be consistent with the physical movement of goods.
Instead, the movement of money (real or virtual) is tracked using a cash flow statement; income and profit matches revenues to the timing of when products/services are delivered—a company’s net income can actually be materially different from its cash flow.
Answer:
$1,255,000
Explanation:
The increase in accounts receivable is the portion of the current year sales revenue that has not been received in cash, hence, the cash collected from customers in the year 2010 is simply the sales adjusted for the impact of accounts receivable as shown below:
cash collection=sales revenue+beginning accounts receivable-ending accounts receivable
sales revenue=$1,300,000
beginning accounts receivable=$120,000
closing accounts receivable=$165,000
cash collection=$1,300,000+$120,000-$165,000
cash collection=$1,255,000
While preparing a bank reconciliation, a bank service charge was discovered. This adjustment would be recorded with a Credit to cash, debit to bank fees expense.
Bank Reconciliation is an important manner in accounting wherein agencies healthy their bank statements with the transactions which can be recorded in their preferred ledger. making ready a financial institution reconciliation statement facilitates businesses to put off viable errors in transactions or bookkeeping.
There are 5 principal kinds of bank reconciliation: financial institution reconciliation, consumer reconciliation, dealer reconciliation, inter-company reconciliation, and business-unique reconciliation.
In bookkeeping, a financial institution reconciliation is a procedure by using which the financial institution account balance in an entity’s books of account is reconciled to the balance said by using the monetary organization inside the maximum latest bank declaration. Any distinction between the 2 figures needs to be examined and, if appropriate, rectified.
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Answer:
provisions / accruals
Explanation:
see above in the answer, both mean basically the same but in insurance terms accrual is more correct
