The definition of cash equivalents used in IFRS is similar to that used in GAAP

The definition of cash equivalents used in IFRS is similar to that used in GAAP

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The definition of cash equivalents used in IFRS is similar to that used in GAAP. A major difference is that in certain situations, bank overdrafts are considered part of cash and cash equivalents under IFRS (which is not the case in
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Unformatted text preview: GAAP). Under GAAP, bank overdrafts are classified as financing activities in the statement of cash flows and are reported as liabilities on the balance sheet....
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