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- Title
Preparing the Statement of Cash Flows Using the Direct Method: Illustrating a Simpler Approach.
- Authors
Haber, Jeffry; Wallace, Karen
- Abstract
The article discusses the use of direct method for preparing statements of cash flows for nonprofit (NFP) entities in accordance with the rules of the Financial Accounting Standards Board (FASB). According to the FASB, the direct method better achieves the cash flow statement's primary objective and is useful to a wide range of users. The direct method details where cash comes from and where it goes, and the investing and financing activity sections are prepared using the direct method.
- Subjects
UNITED States; CASH flow statements; FINANCIAL Accounting Standards Board; FINANCIAL statements standards; NONPROFIT organizations accounting; ACCOUNTING standards; LAW
- Publication
CPA Journal, 2017, Vol 87, Issue 4, p52
- ISSN
0732-8435
- Publication type
Article