FASB's proposed statement of cash flows: its differential impact on companies and auditors
Article Abstract:
The Financial Accounting Standards Board issued an exposure draft, 'Statement of Cash Flows', in Jul 1986. The proposal would require companies to replace the Statement of Changes in Financial Position report with a Statement of Cash Flows report. The funds statement and recent interest in cash flow reporting are discussed. One effect of the proposed statement would be to eliminate the option of reporting funds on a working capital basis. Companies most likely to be affected by this ruling are smaller firms that still use the working capital basis; companies in industries in which the working capital basis is used; and non-Big 8 accounting firms whose clients tend to use the working capital basis.
Publication Name: The Woman CPA
Subject: Women's issues/gender studies
ISSN: 0043-7271
Year: 1987
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An understanding based alternative to "plain paper prohibitation." (preparing financial statements for privately owned entities without submitting a report)(includes related articles)
Article Abstract:
The Accounting and Review Services Committee could establish standards that would demonstrate an understanding-based alternative to the issue of "plain paper prohibitation," a proposed service that would let accountants prepare financial statements of privately owned entities without submitting a report. One possibility would be to use written client agreements stating that the financial statements may not comply with generally accepted accounting principles or some other comprehensive basis of accounting. Another possibility would be to include a legend stating the limitations of the financial statements.
Publication Name: The Woman CPA
Subject: Women's issues/gender studies
ISSN: 0043-7271
Year: 1990
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