All entities that prepare financial statements in conformity with PFRSs are required to present a statement of cash flows. *   true or false?

Q: What is the purpose of cashflow statement ? What are the activities  that are  affecting the…

A: The cash flow statement is one of the financial statements of the business. It records the cash flow…

Q: What is the purpose of a statement of cash flows? How does it differ from a balance sheet and an…

A: Solution:-1 What is the purpose of a statement of cash flows:- The statement of cash flows (SCF) is…

Q: An SME does not need to present a statement of cash flows. True or false

A: statement of cash flows shows the cash inflows and cash outflows to and from the organization.  It's…

Q: The assumption that requires that only those things that can be expressed in money are included in…

A: The generally  accepted principles of accounting are called concepts.The concept guide the…

Q: What is a primary objective of financial reporting? A. To provide useful information to investors,…

A: Financial reports are the statements prepared by the entity to show the correct financial position…

Q: Where would you report resources and claims to those resources? A. In the statement of cash flows…

A: Financial statements are those statements which are prepared at the end of accounting period for the…

Q: Briefly describe the types of information concerningfinancial position, income, and cash flows that…

A: Financial statement: A formal record of business transactions that record, analyze, and summarize…

Q: Explain the purpose of the statement of cash flows and why it is necessary.

A: A statement of cash flow is a simple financial report that shows a company's cash inflows (cash…

Q: describe accounting methods (choices and estimates) that could be used to manage earnings,cash fl…

A: there are several accounting choices that can be made which will allow company mangers to give the…

Q: Is it true or not? An entity shall prepare all its financial statements, except the statement for…

A: An organisation can report revenue before obtaining payment for the products or services sold and…

Q: Describe how the statement of cash flows is linked to each of the other financial statements (income…

A: The financial statements are issued by a company for its external users so that the investors can…

Q: What advantage do you see in compiling financial data into standardized statements like the Income…

A: Standardized statements also acknowledged as financial statements, these statements such as balance…

Q: Indicate if the statement is TRUE or FALSE. Additionally, assess if the word "may" is the most…

A: IFRS 7 on statement of cash flow recommends how a statement of cash flow should be prepared and…

Q: ACTIVITY 3 The following data are taken from the records of Pagong Delivery Services for the year…

A: Cash flow from operating activities indicates the cash inflow or outflow transactions related to the…

Q: Under IFRS, how should changes in accounting policy be recognized in the financial statements? a.…

A: Change in Accounting Policy:A Change in accounting policy occurs if there has been a change in the…

Q: "cash flows

A: "Cash flows" mean the inflows or outflows of cash and cash equivalents as a result of business…

Q: Define Cash-basis accounting.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Assets and liablities are classified on the balance sheet into correct and long-term categories in…

A: A balance sheet is a statement that shows the financial positions of the business organization. The…

Q: What does the term "cash flows" mean? Explain why the statement of cash flows offers relevant…

A: For investors to make informed judgments, a firm's financial statements are created by management to…

Q: Which of the following is not one of the four basic financial statements?a. The balance sheetb. The…

A: Basic financial statements are: Balance Sheet Income Statement Statement of Cash Flows Statement of…

Q: ‘‘The accrual basis of accounting creates the need for a statement of cash flows.’’ Explain.

A: Statement of cash flows forms a part of financial statements and is prepared with a view to…

Q: Specify every aspect of the link between the income statement, the balance sheet, and the cash flow…

A: Introduction:- The financial statements are mainly classified as follows under:- Income statement…

Q: Contrast the aims of the income statement, the balance sheet, and the cash flow statement

A: Financial Statement: A financial statement is a statement that indicates the firm's, company's, or…

Q: Effects of all cash flows affect the balances of various accounts reported in the balance sheet.…

A: Definition:   Statement of cash flows: This statement reports all the cash transactions which are…

Q: What information does the cash flow statement reveal that the other necessary financial statements…

A: The answer:

Q: both the subparts a and b.

A: a) Depreciation/amortisation is added back because they don't cause actual cash outflow.…

Q: What is the purpose of the statement of cash flows in financial reporting, and how does it provide…

A: The statement of cash flows is a vital financial statement that provides a summary of a company's…

Q: How does the cash flow statement assist users of financial statements?

A: Introduction: Cash flow statements are the statements that show the entrance and outflow of cash…

Q: Describe the purpose and structure of a statement of cash flows. How does it differ from a balance…

A: The statement of cash flows is a financial statement that provides information about the cash…

Q: True or False The Statement of Cash Flows is an optional disclosure for a set of financial…

A: The cash flow statement is an essential part of the financial statements of the organization. It is…