Assets Current assets: Cash and cash equivalents Restricted cash Accounts receivable, net of allowance for bad debts of $7 and $111 at December 31, 2020 and 2019, respectively Inventory Prepaid expenses Other receivables Income tax receivable Total current assets Property and equipment, net Right-of-use assets, net Intangible assets, net Goodwill Deferred income taxes Other assets, net Total assets Liabilities and stockholders' deficit Current liabilities: Current maturities of long-term debt Accounts payable Accrued expenses Equipment deposits Deferred revenue, current Payable pursuant to tax benefit arrangements, current Other current liabilities Total current liabilities Long-term debt, net of current maturities Borrowings under Variable Funding Notes Lease liabilities, net of current portion Deferred revenue, net of current portion Deferred tax habilities Payable pursuant to tax benefit arrangements, net of current portion Other liabilities Total noncurrent liabilities $ S 439,478 S 76,322 16,447 473 11,881 16,754 5,461 566,816 160,677 164,252 217,075 227,821 511,200 1,896 1,849,737 17,500 19,388 22,042 795 26,691 25,479 111,895 1,676,426 75,000 167,910 32,587 881 488,200 2,511 2,443,515 $ S 436,256 42,539 42,268 877 8,025 9,226 947 540,138 145,481 155,633 233,921 227,821 412,293 1,903 1,717,190 17,500 21,267 31,623 3,008 27,596 26,468 18,016 145,478 1,687,505 152,920 34,458 1,116 400,748 2,719 2,279,466
Reporting Cash Flows
Reporting of cash flows means a statement of cash flow which is a financial statement. A cash flow statement is prepared by gathering all the data regarding inflows and outflows of a company. The cash flow statement includes cash inflows and outflows from various activities such as operating, financing, and investment. Reporting this statement is important because it is the main financial statement of the company.
Balance Sheet
A balance sheet is an integral part of the set of financial statements of an organization that reports the assets, liabilities, equity (shareholding) capital, other short and long-term debts, along with other related items. A balance sheet is one of the most critical measures of the financial performance and position of the company, and as the name suggests, the statement must balance the assets against the liabilities and equity. The assets are what the company owns, and the liabilities represent what the company owes. Equity represents the amount invested in the business, either by the promoters of the company or by external shareholders. The total assets must match total liabilities plus equity.
Financial Statements
Financial statements are written records of an organization which provide a true and real picture of business activities. It shows the financial position and the operating performance of the company. It is prepared at the end of every financial cycle. It includes three main components that are balance sheet, income statement and cash flow statement.
Owner's Capital
Before we begin to understand what Owner’s capital is and what Equity financing is to an organization, it is important to understand some basic accounting terminologies. A double-entry bookkeeping system Normal account balances are those which are expected to have either a debit balance or a credit balance, depending on the nature of the account. An asset account will have a debit balance as normal balance because an asset is a debit account. Similarly, a liability account will have the normal balance as a credit balance because it is amount owed, representing a credit account. Equity is also said to have a credit balance as its normal balance. However, sometimes the normal balances may be reversed, often due to incorrect journal or posting entries or other accounting/ clerical errors.
From the attached image, which deferred revenue do we need to consider for calculations? I can see two of them one is current and the other one is net of the current portion.
Deferred Revenue -
Deferred Revenue is a portion of amount received in advance against which company will provide goods or service in the later periods. It the goods are to be delivered with in a period it will be considered as current portion. But if it is going to take more than 12 months it will be consider as long term.
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