Preparing the Statement of Cash Flows

Owners, managers, and third party users seek information about the financial position, results of operations, and cash flow.  For many non-accountants, the statement of cash flows is easier to understand than other basic financial statements.  Yet, many accountants shy away from preparing the statement of cash flows.  This webcast helps alleviate those fears and provides guidance on the steps to preparing a statement of cash flows effectively and efficiently.

• Identify the major classifications of cash flows
• Contrast the direct and indirect methods of calculating net cash flows from operating activities
• Prepare a statement of cash flows
• Identify sources of information for a statement of cash flows

• Format, objective purpose, and source of statement
• Classifying investing, financing, and operating activities
• Direct versus indirect methods of preparing operating activities

It is not only important to understand how to properly prepare the statement of cash flows but also to understand its importance to users of the financial statements.  In a global economy where “cash is king”, an understanding of the questions answered by the statement is vital.

• Accountants in public practice
• Executives of all entities; public, private, governmental, and not for profit
• Creditors
• Investors
• Risk managers

Candace Curry Leuck is owner of Athena Finance Group, Inc. specializing in strategic planning, distressed entity recovery, valuations, and educational programs. Athena's mission is to pursue and communicate the information clients need. This is accomplished through a cooperative working relationship. Based on solid strategy, the outcome is an expansion of the opportunities of those served. Candace was associated with Ernst & Young in the tax and then auditing area, serving small, midsized and SEC clients during her tenure. She gained significant experience with various industries including manufacturers, automobile dealerships and securities brokers. Upon leaving Ernst & Young, Candace pursued and obtained her Masters of Professional Accountancy from Clemson University and proceeded to her career in the educational arena, teaching at Clemson University, Furman University, and the University of North Carolina at Greensboro. She returned to Clemson in the Fall of 2006 and remained through Spring of 2012. In addition to undergraduate and graduate education, Candace has developed and taught various continuing education courses in both live format and through webcast technology.