The reporting requirements for cash flow statements can be tricky and are often a reason for restatements. By taking this self-study webinar, you will:
- Learn the primary purpose of the statement of cash flows
- Understand how to classify various transactions as either Operating, Investing or Financing
- Review significant differences between ASC Topics 230 and IFRS 7
To give financial professionals a review of the purpose of the statement of cash flows, with an emphasis on statement of cash flow classification and disclosure issues.
- Usefulness & Limitations of the Statement of Cash Flows
- Classification of Cash Flows
- Public Company Restatements
- Bank & Book Overdrafts
- Discontinued Operations & Reporting in Statement of Cash Flows
- Reconciliation of Net Income to Net Cash Flows Provided by Operating Activities
- Cash Flow Supplemental Disclosures on Non-Cash Investing & Financing Activities
- Classification Examples
- Foreign Currency Cash Flows
- SEC Comment Letters
- Business Combinations
- Non-Monetary Exchanges
- Sale & Leaseback Transactions
- Interim Reporting
- Recommendations for Preparing the Statement of Cash Flows in an Effective, Accurate & Timely Manner
- Significant Differences Between US GAAP ASC 230 & IFRS 7
- Right-of-Use Assets
- Presenting Cash Flows Related to Discontinued Operations
- Contingent Consideration in a Business Combination
• Recognize the primary source of authoritative GAAP for reporting cash flows
• Identify the relative use of the direct and indirect method for presenting the statement of cash flows
• Identify the required cash flow supplemental disclosures
• Identify investing and financing activities required to be reported at gross
• Recognize exceptions for presenting investing and financing cash receipts and payments on a gross basis
• Identify those items generally considered to be a cash equivalent
• Recognize the appropriate presentation of cash that cannot be withdrawn due to contractual compensating balance arrangements
• Recognize selected transactions and how they should be categorized on the statement of cash flows
• Recognize the recent role of the statement of cash flows in financial statement restatements
• Identify common errors found within the statement of cash flows
• Identify how to present a bank overdraft on both the balance sheet and the statement of cash flows
• Identify the appropriate treatment of cash flows relating to unusual or infrequently occurring transactions of a discontinued operation
• Identify specified examples of adjustments to reconcile net income to cash flow from operating activities
• Recognize options available for the presentation of required supplemental disclosures
• Recognize specified examples of supplemental cash flow information required to be disclosed
• Identify the appropriate presentation of foreign currency cash flows
• Recognize SEC priorities and common comment letter subjects related to the statement of cash flows
• Identify the appropriate presentation of business combination transaction costs under ASC 805
• Recognize the appropriate presentation of contributions to pension plans
• Identify the appropriate presentation of insurance reimbursements related partially to business interruption and partially to property damage
• Identify the appropriate presentation of cash paid to settle a liability-classified share-based payment award
• Recognize the threshold for reporting cash changes from investing and financing activities individually under SEC rules
• Identify IAS 7 statement of cash flows differences with GAAP