9th Edition

ISBN: 9781260255775

Author: SPICELAND, Nel

Publisher: MCG

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The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business…

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Textbook Question

Chapter 21, Problem 21.10BYP

IFRS Case 21–10

Statement of cash flows presentation, British Telecommunications

• LO21–3 through LO21–6, LO21–9

IFRS

Real World Financials

British Telecommunications Plc (BT), a U.K. company, is the world’s oldest communications company. The company prepares its financial statements in accordance with International Financial Reporting Standards. Locate BT’s statement of cash flows from it’s website at www.btplc.com.

Required:

1. What are the primary classifications into which BT’s cash inflows and cash outflows are separated? Is this classification the same as or different from cash flow statements prepared in accordance with U.S. GAAP?

2. How are cash inflows from dividends and interest and cash outflows for dividends and interest classified in BT’s cash flow statements? Is this classification the same as or different from cash flow statements prepared in accordance with U.S. GAAP?

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Chapter 21, Problem 21.9BYP

Chapter 21, Problem CCTC

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Chapter 21 Solutions

SPICELAND GEN CMB LL INTRM ACCTG; CNCT

Ch. 21 - Effects of all cash flows affect the balances of...Ch. 21 - Prob. 21.2Q Ch. 21 - Prob. 21.3Q Ch. 21 - Prob. 21.4Q Ch. 21 - Prob. 21.5Q Ch. 21 - Prob. 21.6Q Ch. 21 - Prob. 21.7Q Ch. 21 - The sale of stock and the sale of bonds are...Ch. 21 - Does the statement of cash flows report only...Ch. 21 - Prob. 21.10Q

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Solution Summary: The author explains the IFRS, which is a common set of accounting principles, standards, and procedures that the companies must follow at the time of preparation of the financial statements.

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