How does the income statement differ from the statement of cash flows?
What will be an ideal response?
Income statement – Accounting-based profitability for a period of time.
Cash flow statement – Identifies all of the cash inflows and outflows of a business over a period of time.
Focusing on accrual- based accounting without looking at the cash inflows and outflows can be very dangerous. Companies can more easily manipulate accounting profits than cash profits. Also, not having a handle on cash can potentially make a seeming healthy company go bankrupt.
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A data warehouse contains information including customer e-mail addresses, purchase and communication histories, and personal preference profiles
Indicate whether the statement is true or false
Cimarron Company cash count at the end of the day is reported as $2,459, while the cash register tape reports $2,315 . The amount of the change fund is $150 . To record revenue earned for the day, Cimarron Company would record a
a. debit to Cash, $2,459 . c. credit to Cash Short and Over, $6. b. debit to Cash Short and Over, $6. c. credit to Income from Services, $2,459. d. complete the work sheet.
Belling is a chain of coffee shops. Give an example of a category point-of-parity and a competitive point-of-parity for the company
What will be an ideal response?
Incidental beneficiaries acquire no rights under the contract and so cannot sue for nonperformance.
Answer the following statement true (T) or false (F)