GCU ACC502 Week 7 Discussion (dq1+dq2) Latest 2020 October
ACC502 Accounting Practices
Week 7 Discussion
DQ1 Select a publicly traded company and access its most recent financial statements, form 10-K. Include the name of the company in your subject line, and do not choose a company about which one of your classmates has already posted. Navigate to the notes to the financial statements and locate the company’s note on their statement of cash flows that was prepared using an indirect method. Discuss an item that was included when calculating net income but is adjusted as an increase or decrease to determine cash provided by (used in/by) operating activities. Specifically an asset, liability, gain, or loss. Include a summary of how that item impacted net income (or net loss) and why an adjustment might be necessary to reconcile net income to net cash flows from operations. Use an item not already used in a classmate’s post, if possible. In your post, include a screenshot of the statement of cash flows you are analyzing. Participate in follow-up discussion by providing additional explanations on line items identified by your classmates.
DQ2 Many small business owners focus on the cash balance in their bank accounts and may not use the statement of cash flows to analyze how their businesses are generating or using cash. Discuss what one piece of information is found on the statement of cash flows that is just as important as the bank balance (or more so) for the purpose of understanding the financial position of a company. Participate in follow-up discussion by adding additional detail or asking additional questions to the posts of a classmate regarding the differences and similarities between the statement of cash flows and the income statement information.
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