Feb 3rd, 2012
Studypool Tutor
Price: $20 USD

Tutor description

this is an accounting assignment with 6 questions. they range from the different ratios used in accounting to general accounting. GAAP and IFRS

Word Count: 1446
Showing Page: 1/7
1. Cash flow is classified as: a) Financing activities - are activities that result in changes in equity, size, capita and borrowing.b) Investment cash flow- are the acquisitions and disposal of fixed assetsc) cash flow from operating - are the principle revenue producing activities1) Similarities exist between GAAP and IFRS with respect to statement of cash flow. For example both require the statement of cash flow to report cash flows during the period broken out into operating activities, investing activities and financing activities.2) Both permit use of the direct and indirect methods of presenting cash flows from operating activities.3) They are also significant requirements which are essential to each of the above two methods (IRFS and GAAPS) when treating certain cash transactions.GAAPIFRSBank overdraftsBank overdrafts are not included in cash and cash equivalents instead they are accounted for as liabilities and changes in the overdraft balances are classified as financing cash flow.Bank overdrafts are included in cash and cash equivalents. In some countries bank overdrafts payable on demand constitute an integral part of an entity's cash management policies. In these circumstances bank overdrafts are included as a component of cash and cash equivalent.Interest and dividendInterest received or paid is classified as operating activities.Dividends received are classified as operating activities.Dividends paid are classified as financing activities.

Review from student

Studypool Student
" Thanks for the help. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1823 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors