There are three kinds of cash flows which are as follows:
- Operating activities
- Investing activities
- Financing activities
Operating activities are usually regarding the cash activities related to net income. For instance, cash obtained from goods sales and services and the cash paid are known as operating activities. This is due to expenses and revenues which come under net income.
Financing activities include cash activities. These are related to owners’ equity and noncurrent liabilities. They include repurchases and stock sales and principle long term debt amounts. The interest long term debt (payment made) comes under operating activities.
Investing activities are related to noncurrent assets. These include long term investments, property, equipment and principle loan amounts related to certain entities. For instance, cash obtained from land sales.
So the basic idea of cash flow statement is to disclose net increase and decrease in cash during accounting. The objective will be to provide information about cash flows of a business firm which in turn helps in providing financial statements of the firm. A cash flow statement can be presented in either direct or indirect format. The operating flow will alone differ whereas the financing and investing flows will remain the same in both the cases.
Direct method:
This is the method where major class of gross receipts and payments are disclosed. For instance, the cash collected from customers, like licenses, other operating cash receipts, interests paid, income taxes paid etc.
Indirect method:
Here, the net cash flow will be determined from the net profit or the loss. For instance, the loss or profit of changes in current assets and liabilities etc.
So this is the basic things and ideas that you need to know about before going deep into the classification for statement of cash flow homework answers. The preparation for exams as well as homework and assignments for this topic under accounting can be done at ease, in comparison with certain other tougher topics.
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