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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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What are the advantages in using worksheets when preparing a statement of cash flows?

To determine

Explain the advantages of using worksheets while preparing the statement of cash flows.

Explanation

Cash Flow Statement:

Cash flow statement is a financial statement prepared to provide information about the sources and uses of cash in a firm. In this statement, the activities increasing cash are referred as cash inflows and the activities that decrease cash are referred as cash outflows. Financing and investing activities are two category of a cash flow statement.

The worksheets are very useful in preparing the statement of cash flows. The usefulness of worksheet is explained as below:

  • In larger organizations, there are many transactions made and also the transactions are complex...

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