What constitute cash and cash equivalents under IAS 7- Statement of Cash Flows.

Q: In connection with your audit of Brilliance Corporation for the year ended December 31, 2022, you…

A: Cash and Cash equivalents refer to the currents assets of the company that are in Cash, Bank or can…

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: Describe the types of assetsthat are typically included under the heading “cash and cash…

A: Cash and cash equivalents include liquid assets such as time deposits, certificate of deposits, high…

Q: Discuss the recognition, measurement and disclosures for 'cash' as per accounting standards

A: Cash is considered as the most liquid asset or quick asset for the business in the balance sheet…

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: What constitute cash and cash equivalents under IAS 7- Statement of Cash Flo

A: Introduction:- A cash flow statement denotes total amount cash is inflows and cash outflows your…

Q: What are the primary distinctions between the direct and indirect methods of presenting the…

A: The direct and indirect methods of presenting the Statement of Cash Flows will be explained :

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: how to prepare a statement of cash flows in the formats required under FSB 1 and IAS 7 respectively

A: Cash is considered as the most liquid asset or quick asset for the business in the balance sheet of…

Q: What are the objectives related to the statement of cash flows?

A: The answer :

Q: (a) How are cash equivalents reported in the financial statements? (b) What are some examples of…

A:

Q: Where can we find authoritative guidance for the statement of cash flows under IFRS?

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

Q: Is restricted cash included in the reconciliation of cash balances on a statement of cash flows?…

A: Restricted Cash: It refers to the money that is reserved for a specific purpose. As a result, such…

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

A: The answer:

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

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

Q: different categories of cash flows reported on the statement of cash flows?

A: The three categories of cash flows reported on a financial statement are as follows Operating…

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: 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: What general guidelines can you provide for interpreting the statement of cash flows?

A:

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.