Question
In: Accounting
The consolidated Statement of Cash Flows is prepared:Using the separated companies statement of cash flows...
The consolidated Statement of Cash Flows is prepared:
Using the separated companies statement of cash flows | ||
Using last year consolidated statement of cash flow | ||
Only the consolidated income statement and consolidated balance sheet are prepared but not consolidated statement of cash flows | ||
Using the current year consolidated income statement and the current year consolidated balance sheet. | ||
Using the current year consolidated income statement and two consecutive (current year and last year) consolidated balance sheets. |
Solutions
Expert Solution
Answer is
Using the separated companies statement of cash flows
As
For preparing the consolidated cash flow statement first of all the cash flow statements are prepared for each applicable subsidiary after that adjustment is made for inter company transactions and then consolidated cash flow statement is ready.
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Cash flows from operating activities
$000
$000
Profit before tax
Adjust for:
Depreciation
Share of profit of associate
Finance costs
Changes in working capital:
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2015
2014
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Deferred income tax expense
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Consolidated Statement of Comprehensive Income for the
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(RM)’000
(RM)’000
Sales
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Cost of Goods Sold
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Gross Profit
3,520
Less Expenses:
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Insurance Expenses
24
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(1,280)
Operating Income
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Gain on sale of Plant
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Total Comprehensive Income
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The Statement of Cash Flows (also referred to as the cash flow
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The statement of cash flows is intended to provide information
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financing, and operating activities of an enterprise during an
accounting period. In
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interest expense, interest
revenue, and dividend revenue and payments to the government are
considered
operating activities.
Required:
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