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CONSOLIDATED CASHFLOW STATEMENTS (IAS 7)The basic cash flow statement has been covered under Financial Accounting II. The following introduction will serve as a quick reminder.A Cashflow statement is a simple report that explains the various sources of cash and how the business puts this cash into use. The objective of IAS 7 is to recommend the format in which the cashflow statement should be presented and where the various sources of cash and payments should be classified.The cash received and payments made should be classified into main categories which are:-1. Cashflows from operating activities2. Cashflows from investing activities3. Cashflows from financing activities
Explain the mechanism that states use to prevent the double taxation of the income of a corporation doing business in two or more states.
Answer to Question Six Summarised consolidated statement of comprehensive income for the A group for the year ended 30 September 2010 All workings
Wendy is evaluating a capital budgeting project that should last for 4 years. The project requires $ 800,000 of equipment. She is unsure what depreciation method to use in her anal
TERMINATION OF OFFICE OF TRUSTEE The trustee may vacate office in the following ways: 1. Resignation : He may resign at a meeting of creditors and with their consent. 2.
Q. What is Staff Benefit Fund? This is a fund intended to afford certain kinds of amenities and benefits to no gazetted staff as well as to gazetted officers of the Railway ove
Annulment of order The order may be annulled if In the opinion of the court the debtor ought not to have been adjudicated bankrupt; All the debts have been paid in fu
Illustration of maximum possible loss method A, B and C have been partners for several years, sharing profits and losses in the ratio 2:2:1. They decided to dissolve the firm o
According to the FASB, the usefulness of accounting is judged by which of the following two qualitative characteristics of accounting information? Comparability and neutrality Unde
Define the term Relevance - accounting information Accounting information should have the ability to influence decisions. Except this characteristic is present, there is ac
Describe the following questions:- Q.1 Explain how financial statements assist in the capital allocation process. How are financial statements limited? Which financial statement
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