Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

13. Statement of Cash Flows

Introduction to the Statement of Cash Flows

Financial Accounting

13. Statement of Cash Flows

Introduction to the Statement of Cash Flows

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Multiple Choice

Who is ultimately responsible for the results that a company's strategy produces, as reflected in the statement of cash flows?

The external auditors

The company's management

The company's creditors

The government regulators

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Verified step by step guidance

Understand the purpose of the statement of cash flows: It provides information about a company's cash inflows and outflows, helping stakeholders assess the company's financial health and operational efficiency.

Recognize the role of external auditors: External auditors review financial statements to ensure compliance with accounting standards but are not responsible for the company's strategy or its results.

Consider the role of creditors: Creditors provide loans or credit to the company but are not involved in the company's strategic decisions or financial outcomes.

Evaluate the role of government regulators: Regulators ensure compliance with laws and regulations but do not influence or take responsibility for the company's strategic results.

Conclude that the company's management is ultimately responsible for the results of its strategy, as reflected in the statement of cash flows, because they make decisions and implement strategies that directly impact financial performance.