Overview:
The reporting requirements for cash flow statements can be tricky and even seasoned professionals can use an update on how to best present this part of the financial statements. By taking this seminar, you will:
- Understand the cash flow reporting requirements of ASC 230, Statement of Cash Flows (previously FAS 95) and related standards
- Learn how to make appropriate classifications of transactions and events on the statement of cash flows
- Evaluate probable and potential changes to cash flow reporting
- Compare, contrast and apply the direct and indirect methods of preparing the statement of cash flows
Objective:
Gain a comprehensive understanding of existing cash flow statement preparation and presentation options, with an emphasis on statement classification and disclosure issues. Discover how to use cash flow statement data for internal and external purposes. See how you may need to modify the classification and presentation of cash flow information due to proposed reporting requirement changes.
Emphasis:
- Authoritative pronouncements
- Cash and cash equivalents
- Gross and net cash flows
- Classification of cash flows
- Foreign currency cash flows
- Direct vs. indirect method
- Non-cash investing and financing activities
- Discontinued operations
- Financial statement and presentation
- Recent SEC comments
- US GAAP vs. IFRS—a preview
