Sound Investing, Chapter 7 - Cash Versus Accrual
This chapter comes from a book written by financial accounting expert Kate Mooney. Sound Investing provides you with the expertise to recognize signs of trouble or fraudulent reporting in a company's financial statements. Using recent scandals as examples, it offers clear direction on locating specifics in financial statements as well as the notes, SEC filings, and the annual report that signal possible trouble and presents action steps to take when warning signs appear.
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2007 Cash Flows accounts payable accounts receivable accrual accounting recognizes Accrual Basis Accounting accrual measure activities Cash Flows Activities Net income Adjustments to reconcile amount of cash balance sheet Basis Accounting Give basis of accounting Cash basis accounting cash flow Depreciation Cash Flow Information Cash Flows presents cash from financing cash from operating cash inflow cash outflow cash paid cash payments cash received CASH VERSUS ACCRUAL company using accrual company using cash company’s Compare Net Income customers Ended December 31 financial statements financing activities financing section flow Depreciation expense Flows from Financing Flows from Investing Flows from Operating income statement Increase in accounts Investing Activities section investing section investors KAMKEM Kate Mooney lawn service company Net cash inflow noncurrent assets operating activities $125,500 Operating Activities Cash Operating Activities section outflow from investing provided by invest reconcile net income reduce net income revenue section shows cash Statement of Cash tom line