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

1. Introduction to Accounting

The Financial Statements

Financial Accounting

1. Introduction to Accounting

The Financial Statements

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Multiple Choice

Which of the following would NOT be found on the statement of cash flows?

Cash flows from operating activities

Net income

Total assets

Cash flows from investing activities

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Verified step by step guidance

Step 1: Understand the purpose of the statement of cash flows. It is a financial statement that provides information about the cash inflows and outflows of a company during a specific period, categorized into operating, investing, and financing activities.

Step 2: Review the components of the statement of cash flows. The three main sections are: (1) Cash flows from operating activities, which include transactions related to the core business operations; (2) Cash flows from investing activities, which include transactions related to the purchase or sale of long-term assets; and (3) Cash flows from financing activities, which include transactions related to borrowing, repaying debt, or issuing equity.

Step 3: Analyze the options provided in the problem. 'Cash flows from operating activities' and 'Cash flows from investing activities' are clearly sections of the statement of cash flows. 'Net income' is often used as a starting point for calculating cash flows from operating activities under the indirect method.

Step 4: Consider the term 'Total assets.' Total assets are part of the balance sheet, not the statement of cash flows. The statement of cash flows focuses on cash movements, not the overall value of assets.

Step 5: Conclude that 'Total assets' would NOT be found on the statement of cash flows, as it is a balance sheet item and does not represent a cash flow category.