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Statement of Cash Flows: Preparation, Presentation, and Use
book

Statement of Cash Flows: Preparation, Presentation, and Use

by Tom Klammer
April 2018
Intermediate to advanced content levelIntermediate to advanced
288 pages
5h 27m
English
Wiley
Content preview from Statement of Cash Flows: Preparation, Presentation, and Use

Chapter 6 ONGOING DEVELOPMENTS IN THE STATEMENT OF CASH FLOWS REPORTING

A joint FASB and IASB project that focused on restructuring financial reporting requirements was nearly complete before being placed on hold pending the completion of other significant financial reporting issues. When resumed, this project is expected to significantly alter the classification and the display of information on each of the three major financial statements and expand the explanatory information that accompanies financial reports.

After a brief summary of how the existing IASB cash flow reporting requirements differ from accounting principles generally accepted in the United States of America (U.S. GAAP), this chapter summarizes the major changes in cash flow reporting that had been agreed to by the two standard setting boards. Many of these changes have been identified earlier as part of the discussion of current cash flow reporting requirements. The purpose here is to provide an overview of the preliminary views related to cash flow reporting.

LEARNING OBJECTIVES

After completing this chapter, you should be able to do the following:

     Identify how cash flow reporting requirements under International Financial Reporting Standards (IFRS) differ from U.S. GAAP.

     Recall changes in not-for-profit cash flow statement presentation that are being considered by FASB.

     Identify the fundamental principles and tentative classifications that are expected to be used when new financial presentation ...

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Publisher Resources

ISBN: 9781119508984Purchase book