October 2014
Intermediate to advanced
1512 pages
57h 40m
English
book
Wiley GAAP 2015: Interpretation and Application of Generally Accepted Accounting Principles 2015
by Joanne M. Flood
Content preview from Wiley GAAP 2015: Interpretation and Application of Generally Accepted Accounting Principles 2015
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Chapter 7ASC 230 STATEMENT OF CASH FLOWS
Classification of Cash Receipts and Disbursements
Operating Activities Presentation
Entities Exempt from Providing a Statement of Cash Flows
Net Reporting by Financial Institutions
Reporting Hedging Transactions
Reporting Foreign Currency Cash Flows
Statement of Cash Flows for Consolidated Entities
PERSPECTIVE AND ISSUES
Subtopic
ASC 230, Statement of Cash Flows, contains one subtopic:
- ASC 230-10 Overall, that establishes standards for cash flow reporting in general purpose financial statements.
Scope and Scope Exceptions
A statement of cash flows is a required part of a complete set of financial statements for business enterprises and not-for-profit organizations. The following are not required to present a statement of cash flows:
- Defined pension plans that present financial information under Topic 960,
- Other employee plans that present information similar to ASC 960,
- Certain investment companies, and
- “A common trust fund, variable annuity account, or similar fund maintained by a bank, insurance entity, or other entity in its capacity as a trustee, administrator, or guardian for the collective investment and reinvestment of moneys.”
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