Explain the similarities and differences in preparing the Statement of Cash Flows using...
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Explain the similarities and differences in preparing the Statement of Cash Flows using International Financial Reporting Standards (IFRS) and U.S. GAAP.
Cash flow statement
A cash flow statement summarizes an organization's cash inflows and outflows from operating activity, investing activity, and financing activity; it also calculates the net increase or decrease in the cash balance.
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View this answerGenerally accepted accounting principles (GAAP) and International financial reporting standards (IFRS) are the common rules and guidelines that an...
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Chapter 2 / Lesson 7We live in an interconnected world, and doing business globally has become nearly commonplace. This impacts financial reporting and accounting standards. In this lesson, we'll cover differences between the US and International standards.