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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Why are companies required to report noncash investing and financing activities? How are these activities reported?

To determine

Introduction:

Non-cash investing and financing activities are those activities that do not involve outflow and inflow of cash, but they are required to be recorded as they have an impact on the future or present performance of the company.

To state: The reason companies are required to report non-cash investing and financing activities in the cash flow statement.

Explanation

Cash flow statements include only those cash items from operating, investing and financing activities which have their impact on cash and cash equivalents but some of the non-cash investing and financing activities are also recorded in cash flow statements because they have a significant impact on the revenues and future and present performance of the firm...

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