A non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows
, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented.
This past year marked the 30th anniversary of the statement of cash flows
as a required financial statement.
According to COA Supervising Auditor, Gloria Canete, they audited the financial statements of the city government,'which comprise the statement of financial position as at December 31, 2018, and the statement of financial performance, statement of changes in net assets/equity, statement of cash flows
and statement of comparison of budget and actual amounts for the year then ended, and notes to the financial statements, including a summary of significant accounting policies.'
Statement of Cash Flows
- as the name suggests, this statement shows the actual amounts of cash (money - bank transfers, cheques or cash) that passed through one's hands during a period.
The statement of cash flows
summarises the cash inflows and outflows from various activities.
It uses a stepwise approach that covers analyzing transactions, the adjusting process, the accounting cycle, accounting for retail businesses, inventories, internal control and cash, receivables, long-term assets, liabilities, corporations, statement of cash flows
, and financial statement analysis.
Later, the IASB issued International Accounting Standards 7 requiring companies adopting its standards to publish a Statement of Cash Flows
This impact will be reflected in income from continuing operations which will increase the company's earnings for the fourth quarter and year ending December 31, 2017, but will not have any impact on the 2017 statement of cash flows
. For the year ending December 31, 2017, the impact of the TCJA to Verizon's earnings per share is estimated to be approximately $4.10.
Olney will report a noncash compensation expense of $45,000 ($3 X 15,000) on both its income statement and statement of cash flows
. This expense is allocated equally over the two-year service period until vesting takes place ($22,500 per year).
Major topics include: Detailed discussion of how to adjust the books at period-end; How to close the books for all business types; Cash basis accounting compared to accrual basis; Worksheets; Merchandising operations for both major types of inventory systems; Financial statements of merchandising companies; Accounting systems and special journals; Cash and the three cash control procedures (internal control, cash budget, statement of cash flows
); Receivables; Inventory costing; Long-term assets; Payroll procedures; How to prepare and analyze a statement of cash flows
; The use of accounting software and an accounting software checklist; and Bonds.
This study examines the consequences of comparative flexibility in classification choices within the statement of cash flows
. International Financial Reporting Standards (IFRS) are perceived to allow managers more flexibility than Generally Accepted Accounting Principles (GAAP).