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A. Read and complete the self-graded questions for ch 9, 13, 15, & 16, including the statement of cash flows at .
Complete the report below as a Word document and submit it in the Assignment Folder for week 5 Homework.
Additionally, here are some topics to consider:
How does management’s intent impact how investments are reported?
What are bonds, and how does issuing bonds above or below their par value affect the amount of interest expense recorded each accounting period?
What are the key assumptions upon which accounting depends?
What topic(s) gave you trouble this week ?/What topic(s) do you feel you were able to grasp? Post questions in the homework discussion thread!
Remember all submissions and postings in our class must be in your own words. Deliverables are to be single-spaced with double spacing between paragraphs. These are business reports. Thus proper spelling, grammar, and professional writing are expected. Your report submission serves as your new hire’s eight-week rotation report to your supervisor regarding the knowledge learned for this week’s material related to accounting and financial reporting.
B. Review your SEC 10-K company’s statement of cash flows.
There are three main sections to the statement of cash flows: Cash flows from Operating Activities, Cash flows from Investing Activities, and Cash Flows from Financing Activities.
The balance sheet and income statement provide important information to prepare the cash flow statement. The relationship between these two financial reports with the statement of cash flows may be summarized as follows:
1. Net income is a measure of operating activities, but the income statement reports net income based on financial accounting, not cash flows. Thus, net income is adjusted from a financial accounting measure back to a cash flow by adding back expenses that do not affect Cash , subtracting non-cash gains on the sale of assets, adding back non-cash losses from sales of assets, and adjusting for changes in current assets and current liabilities .
2. Cash flows from the sale and purchase of long-term assets are reported in the investing activities section.
3. Cash flows from changes in long-term liabilities and owners’ equity are reported in the financing activities section.
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