level: Statement of Cash Flows (FASB)
Questions and Answers List
level questions: Statement of Cash Flows (FASB)
| Question | Answer |
|---|---|
| Direct Method for Operating Activities | Inflows less Outflows = Cash Basis |
| InDirect Method for Operating Activities | NI + Depr - Gains (Prem. Amort) + Losses - Equity (in excess of recc $) - Change in OA + Change in OL |
| What is included in Operating Assets? | ALL Current Assets EXCLUDING CASH AND CASH EQUIVALENTS |
| What is included in Operating Liabilities? | ALL NON-INTEREST bearing Liabilities (including DTL) |
| Investing Activities | Changes in Non-Current Assets, Payments related to Principal ONLY, AFS, HTM |
| Financing Activities | Changes in Debt and Equity, Dividends Paid, Repayment/Issuance of Debt, Treasury Stock |
| Supplemental Portion of Stmt of Cash Flows | If Direct: Indirect reconciliation required; If Indirect: Interest and Taxes Paid; Both: Non-cash Investing/Financing Activities |