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Chapter13-1StatementofCashFlowsChapter13IntermediateAccounting12thEditionKieso,Weygandt,andWarfieldPreparedbyCobyHarmon,UniversityofCalifornia,SantaBarbaraChapter13-21.Describethepurposeofthestatementofcashflows.2.Identifythemajorclassificationsofcashflows.3.Differentiatebetweennetincomeandnetcashflowsfromoperatingactivities.4.Contrastthedirectandindirectmethodsofcalculatingnetcashflowfromoperatingactivities.5.Determinenetcashflowsfrominvestingandfinancingactivities.6.Prepareastatementofcashflows.7.Identifysourcesofinformationforastatementofcashflows.8.Discussspecialproblemsinpreparingastatementofcashflows.9.Explaintheuseofaworksheetinpreparingastatementofcashflows.LearningObjectivesChapter13-3...isareportlistingcashinflowsandoutflowsbycategory....explainsthechangeincashduringtheperiod....isrequiredbySFASNo.95StatementofCashFlows(SCF)Chapter13-4IncreasedBusinessRisk--Growingbankruptcyrateinthe70’sand80’s.--Theproblemofunevencashflowsforsmallcompanies.--Cashflowinformationhelpsinvestorsavoidlossesfrombusinessfailures.CashFlowReportingtheTrendTowardCashFlowsChapter13-5PreviousFundsStatements--StatementofChangesinFinancialPosition(APBOpinionNo.19)CashBasisorWorkingCapitalBasisDifferencesbetweenCashandAccrualAccounting--GAAPisincreasinglycomplex.Cashflowinformationisimportantintheshortrun.CashFlowReportingtheTrendTowardCashFlowsChapter13-6FreecashflowFinancialflexibility--theabilitytousecashflowstomeetunexpectedneedsandopportunities.OperatingNecessaryOperatingDebtCashandCapitalServiceReceiptsExpendituresPayments-()+CashFlowReportingtheUsefulnessofCashFlowsChapter13-7TheStatementhelpsusersassess...afirm’sabilitytogeneratecash.afirm’sabilitytomeetitsobligations.thereasonsfordifferencesbetweenincomeandassociatedcashflows.theeffectofcashandnoncashinvestingandfinancingactivitiesonafirm’sfinancialposition.StatementofCashFlowsPurposeChapter13-8Requirestheuseofcashandcashequivalentsasthebasisofreporting.Allowstwomethodsofreporting.DirectMethodShowsactualnetcashinflow(outflow)fromoperations.IndirectMethodShowsnetcashinflow(outflow)fromoperationsasanadjustmentofnetincome.SFASNo.95RequirementsChapter13-9Cashischaracterizedasthoseitemsimmediatelyavailabletopayobligations.CashEquivalentsarecharacterizedas--Short-term,highlyliquidinvestments.--Readilyconvertibleintoknownandfixedamountsofcash.--Sonearmaturitythatthereisinsignificantriskofmarketvaluefluctuationfrominterestratechanges.CashandCashEquivalentsChapter13-10CashFlowsfromOperatingActivities--Canbedeterminedusingeitherthedirectmethodortheindirectmethod.CashFlowsfromInvestingActivitiesCashFlowsfromFinancingActivitiesCashFlowCategoriesChapter13-11InflowsReceiptsfromcustomersInterestreceivedDividendsreceivedRefundsfromsuppliersRevenuesreceivedinadvanceOutflowsPaymentstosuppliersPaymentstoemployeesInterestpaymentsIncometaxpaymentsPaymentsonoperatingleasesCashFromOperatingActivitiesChapter13-12InflowsProceedsfromplantassetssalesProceedsfromsalesandmaturitiesofdebtandequitysecuritiesCollectionsofloanprincipalSaleofrealestateOutflowsPaymentstopurchaseplantassetsPurchasesofdebtandequitysecuritiesLoanstoothersPaymentstopurchaserealestateCashFlowsFromInvestingActivitiesChapter13-13InflowsProceedsfromdebtforspecificinvestingactivitiesProceedsfromloansfromfinancialinstitutionsProceedsfromstockorbondissuesOutflowsDividendspaidtostockholdersPrincipalpaymentsonloansfromfinancialinstitutionsPrincipalpaymentsoncapitalleasesCashFlowsFromFinancingActivitiesChapter13-14Disclosureisrequiredforsignificantnoncashinvestingandfinancingactivities.DisclosureshouldappearinasupportingscheduletotheStatementofCashFlowsorintheNotestotheFinancialStatements.NoncashActivitiesChapter13-15Commonnoncashactivitiesinclude:-Retirementofbondsbyissuingstock.-Settlementofdebtbytransferringassets.-Incurrenceofcapitalizedleaseobligations.SFASNo.95providesnoguidancewithregardtostockdividendsorstocksplits.NoncashActivitiesChapter13-16Underthedirectmethod,acompanydeductsitsoperatingcashoutflowsfromitsoperatingcashinflowstodetermineitsnetcashflowfromoperatingactivities.DirectMethodChapter13-17Informationregardingcashflowsmustcomefromseveralsources.Theorderfortheinformationsearchis:-Theincomestatement.-Additionalstatementsorschedules.-Thecomparativebalancesheets.OperatingCashFlowsDirectMethodChapter13-18Inflows(3)1.Cashfromcustomers(A/R)2.Cashfrominterestrevenue(InterestReceivable)3.Cashfromdividendrevenue(DividendsRec.)Outflows(5)1.Cashpaidtosuppliers(A/P)2.Cashpaidforwages(WagesPayable)3.Othercashexpenses(Prepaid/Accrued)4.Cashpaidforinterestexpense(InterestPayable)5.Cashpaidfortaxes(T/PandDeferredTax)DirectMethodChapter13-19UseTaccountstoexaminethe3inflowsand5outflowsinthedirectmethod.DirectMethodChapter13-20SalesRevenueAccountsReceivableBal.030,00042,000SmithCompanymadecashsalesof$30,000andcreditsalesof$42,000.Howmuchcashwascollectedfromcustomers?42,000Bal.5,00037,000$67,000CashFromCustomersChapter13-21Thekeyinformationiscashcollectedfromcustomers.Canbecomputedtwoways:Obtainedfromc