Why does the Financial Accounting Standards Board (FASB) allow both the direct and indirect method?
Why does the Financial Accounting Standards Board (FASB) allow both the direct and indirect
method? (100 words)
As per the previous accounting standard, only indirect method was...Why does the Financial Accounting Standards Board (FASB) allow both the direct and indirect
method? (100 words)
As per the previous accounting standard, only indirect method was allowed as for the
presentation of cash flows. But FASB allows both the methods. This is because of the Direct
method appropriates cash flows in a more presentable manner. The direct... View Full Attachment Show more
FASB allows companies to use either the indirect or direct method in reporting operating cash flows. Note that both methods produce the same total cash, and that the financing and investing sections are exactly the same for both methods. Do the two companies use the direct and/or indirect...
What are the differences between the direct and indirect presentation of cash flows? Why does the FASB allow both methods?
**I've only post 4 of the 5 questions, the first one was really easy for me**ACC 206 Week 1 Assignment: Chapter One Problems Please complete the following 5 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving...
Each year, White Mountain Enterprises (WME) prepares a reconciliation schedule that compares its income statement with its statement of cash flows on both the direct and indirect method bases.In its 2011 income statement, WME reported $58,000 for insurance expense. WME paid $72,000 in insurance...
"1. A cost system determines the cost of a cost object by: (Points : 4) accumulating and then assigning costsaccumulating costsassigning and then accumulating costsassigning costs2. At a plant where a union agreement sets annual salaries and conditions, annual labor costs usually: (Points :...
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