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“And welcome to this tutorial on preparing a statement of cash flows with the using using the indirect method. I just want to start here with some steps to prepare statement of cash flows. So sort of a conceptual overview of what we re going to talk about and then i want to look at a real problem and how we solve it the first thing we want to understand about the statement of cap of cash flows is what the one of the purposes of the statement is that it helps us explain the change in cash. So one of the things we re immediately going to be able to do is if you know we arrive at a solution for the statement of cash flows that amount should be the same as the difference between our beginning and ending cash balances.
The statement of cash flows is in three has three sections. The first one is the operating activities section. The second is investing activities and finally financing activities with for the operating activities section. In using the indirect method.
We re going to analyze the changes in our current assets and current liabilities. Along with a few other items to help us arrive at our net cash flows from operations investing activities. This is where our changes in our long term assets are going to appear. So if we ve bought long term assets or sold long term assets finally financing is changes in our long term debt or any changes in equity.
There is also a section for non cash investing and financing activities. I don t think our problem is going to have anything like that so the format of the statement of cash flows with the indirect method. I d like to walk you through this procedure. So with the indirect method we start with accrual accounting net income and then we prepare a section for the adjustments to reconcile our net income our net cash provided from operating activities.
So the next step. We do is we add back our non cash items for example depreciation expense amortization expense. These are expenses. Which have been deducted to arrive at net income.
But they are not expenses that ever get paid to anyone in cash therefore these expenses don t affect the cash flow of the business. So if we ve deducted them from net income. We want to add them back here. The third step is this section here adding back losses or subtracting gains.
The here s the conceptual idea behind this let s think of just two examples. Let s say we had loss on early retirement of bonds and a gain on sale of assets. Okay so the loss on early retirement of bonds is going to be a part of our net income because losses appear on the income statement. However if we are selling bonds or excuse me if we are paying off our bonds.
That is not in operating activity bonds relate to our long term. Debt. And that is a financing activity down here. So what we are doing by adding back the loss on early retirement of bonds is we are cancelling out or negating.
The deduction from of the loss from net income. So the loss is subtracted in that income we add it back here to cancel it out because it s not an operating activity. Let s look at the other example gain on sale of equipment selling equipment again not an operating activity. It is an investing activity.
So that gain has been added into our net income. Because the gain is on the income statement. We want to subtract that amount here to cancel it out so any gains any gains. We have on the income statement.
We re going to subtract those any losses. We have on the income statement. We re going to add those there s no such thing as a gain or a loss from operating activities. So all gains are lost gains or losses are from activities.
Other than operating finally we hit this final section increases in current assets. Other than cash is subtracted decreases in current. Assets other than cash are added so if my accounts receivable. Increases 20000 i m going to subtract 20000 here if my inventory decreases.
5000 from the previous year i m going to add 5000 here increases in current liabilities decreases in current liabilities. I add increases i subtract decreases when it deals with my liabilities so if my accounts payable increases 10000 i m going to add 10000 here if my salary payable decreases. 2000 i m going to subtract 2000 here so i add all of those things up and i arrived at my net cash provided by operating activities all right looking at the next section cash flow from investing activities. This is going to be the sale of long term assets like long term investments property plant and equipment.
Patents. Etc. Also and by the way when we sell them we re going to be adding here. Because what we re you know we are receiving cash when we sell them when we purchase long term assets.
We subtract that amount here because we re paying out cash. We add you know we calculate those we end up with our net cash. Provided by or used for investing activities and for most companies. This is going to be a used meaning that that we would have cash out net cash outflow from investing activities.
All right then we have our final section. These cash flows from financing activities financing activities. Again are things related to our long term debt and our equity. So you can see we would add cash receipts from an issuance of stock.
We would add cat you know if we sold treasury stock. We dab that we would subtract if we purchased treasury stock. If we borrowed a note or issued some bonds we would add the cash receipts. If we paid off the note or bonds.
We would subtract it if we paid a dividend. We would subtract it this will give us our net cash provided by or used for financing activities. So then i would add up my net increase or decrease. So the net cash from operating activities.
Plus. The net cash from investing activities. Plus. The neck necked cash from financing activities and but keep in mind.
Some of those might actually be subtractions gives us my change in cash for the year. That should balance with what our balance sheet shows as the difference between our beginning and ending cash. I put my beginning balance. I equals my ending balance.
That s how we reconcile it okay. I want to take this procedure. Now and move over to a problem. So here is my comparative balance sheet.
This is how i can figure out my change in cash and my other change in accounts. You can see that information. There as well as some other information. So what we want to do is compute.
The era. Current compute. Let s work make the stat cash flow. Statement using the indirect method.
So i m going to scroll down here. I want to start with net income. So net income was twenty seven nine. So i move down to here statement of cash flows operating activities net income.
Twenty seventy nine. Then remember i want to add back depreciation expected okay so let s go up into the information that we have have and find out what we know about depreciation expense in this case. It tells us depreciation expense was five thousand dollars. So we know we want to add back depreciation expense.
So here we have a depreciation expense five thousand dollars. The next item on the list is that we add back losses or subtract gains. If we read this additional information. It tells us the common stock was issued not by wrong one the land was sold for fifty nine hundred which included a loss of twenty one hundred so i come down here and i have loss on sale of land and i add back twenty one hundred okay now i need to go figure out my changes in my current assets and current liabilities.
Now my first current asset is cash. But the change in cash is what we re trying to explain here. So we re going to skip that one and go to accounts. Receivable accounts.
Receivable decreased from twenty three thousand four hundred to eighteen thousand. Two hundred so if i have a decrease in accounts receivable of fifty two hundred i add that back i don t have any other current assets land building. Accumulate depreciation or all long term so i go to my current liabilities i have accounts payable accounts payable was thirty one thousand one hundred now it s twelve thousand three seventy so it decreased for liabilities when i have a decrease. I subtracted so i subtract eighteen give you give me a bit of an insight.
Why you why do you believe that being a defender and being in the court case specifically poor. Often it s imperative as well there s obviously an acquaintance yeah. It is but the thing as well to look at is that a fundamental aspect of me as well is as a defendant you have to also know that the presumption is that you re guilty your hands are unclean and that s the presumption that the courthouse. So that s something that s a hurdle that we have we as a defendant that you have to to deal with so the claim that has brought a case against you for whatever the reason is the presumption is that your hands are clean.
So you have to deal with at first whether it may be being making a counterclaim or just strolling within your defense. Asking questions so it s very very important to just first and foremost know that the presumption in the legal system as a defendant is that your hands are unclean. So that s the first gap that needs to be breached. Which is apparently a presumption and so because obviously you re presumed guilty.
Yeah. That s a trustee language. If i put into the trust context. Yeah.
That was your compel to get back in line to do you re supposed to be in the first place yeah. So that s why it s important to know how do you change that around yes and in the defensive starts. And i ve seen who talks about the free man rule and getting judges on you know taking their rights away all this kind of stuff you can anyone that that works for and living that life and you know worried fine you don t need to come under force. But anybody else i know i know that we lacked anything important to understand how that works and just a simple process of learn how to ask the right questions not leaving things under the bed or not opening envelopes you mean to deal with situations or even if it using a private process to deal with certain situations.
And is being ignored how to get that in a public about and divulging. What s going on or being seen that you re mad because of what you re talking about it s not gonna mean tries against you eva. So that s very important and the other thing as well even though you made it be the defendant you will have an opportunity or you should have an opportunity even before a claim gets issued for you to be able to ask questions so parents your so called a clean hands. Anyway.
It is very very important here. So as richard said it can be the case where people they don t answer look they don t open their letters and they ignore things and that can be very detrimental because as i said as a defendant you will or should have the opportunity to be able to race question before even legal proceedings. I should yeah. Which can take away that presumption of guilt against you and now what as i call.
It the hot potato battle mcclement. So now address. These questions that you brought up absolutely another point. We and defendant is the power of the counterclaim.
A lot of to utilize that properly what to do how to draft. Okay we have this language challenge lies. Which is not plain english and really you ve got to learn how to and convert what you know into plain english and asking in the right way such that but that s where was reading to read between the lines of what we re getting to without you diverging or putting yourself in a situation that could be compromising yourself okay and drafting english extremely important and you need to just need to know how to just draw a simple statement. Yeah and understand what the rules are what a judge is looking at to make a decision.
We ve shown on the balance of probabilities that we talked about if you ve heard of that before he s aware of the decision defense clinic defense claimant will who s more likely to be giving me the truth for me to make a decision. We talked about in the course. The initial claim in course about living to the judges discretion. Which you through attend.
The workshop. Probably the claimant has even a bigger deal as a defender you know understanding how to establish facts truth was any matter in the portland is about the facts and who s won the most facts to make sure that the case looks like they want the one lesson will be winning or a decision would be operating affordances for your favor. And not somebody else s and even as a defendant you can turn a case around it you can win. Yeah.
It always up more time in okay. Same sense a mortgage situation. Where you dependent by divorce. And you have to deal with certain things do you know the bank maybe have a penis as a performance.
I need to be the things that you can do and the ones you get to him good. Timely fashion and it because of the time scale to be there. Even could be a day before a court hearing baby for a repossession or is supposed to be executed. Things could still be done to buy more time to even rescue your heart.
You know so. It is imperative. You understand and just add to what you said. I ve personally been part of cases where defendants have been successful against clemens which were all obviously elaborate more on the link or sponsor.
Although as i said before the defendant. There is a presumption of guilt that doesn t negate the fact that defendants can be successful and are successful in genesis. Absolutely fantastic. So i will be releasing more information about the defense.
Something s very similar to that process taking place the first one on the believe. The 10th may the month of march is about a week from today. But obvious if you re watching she wouldn t ask that date then they ll be able to choose to attend as well we plan to do this as a series for the year. But the main one elaborating on this particular weekend because and for next weekend.
Because of the year the discounts that were offering as an incentive to give yourself that to attend the workshop alright. The other thing i want to clarify as well regarding. The forceful or the claimant side of things is that with the way we re going to teacher is start from very scratch. So you don t need to be an expert and calling never have been to court before in their life.
But it may be something you can help someone else with orally mainly because of the situation to deal with at the moment when you feel it may darling have loads and it s imperative that you have an understandable. But when let us over into you knowledge didn t sense you what to do and so we start from the very bottom part of the purple atop by the sight of scratch lying by a line by line precept upon precept the other the cover so that s how i teach you how we teach anyway so even gets a more advanced stuff you re on board. We make sure that everyone s on board for that purpose. It may be we don t do as serving much in magistrates courts.
But the technique and the mentality is still required trial somehow to do in magistrates. You know if you need to look for information to keep a certain event situation and you still need to know how to go about doing that how to reveal itself. If you ve got to go in the courtroom itself so they ll still applying some registrated schools. Then indirectly.
But will still have some valence on that as well you dealing in bailiffs and they start to might notice to you and again. We ve had to see heaven had significant results where we sent bailiffs in so claim on behalf you know in terms of perfect knowing how to execute that noon. If you have claims against other people or companies corporations who have done you a disservice or injured you and monetize absolutely living by the tire. So you ve invested got funds in your now selectively rather the program can t wait because the clamp a month.
I ll pay ya. But the shoes are never full yeah so to speak and then you can enjoy that for your own personal benefit as well so if you ve got have you ve been ill treated by babies or credit agency or something like that and you know that you ve got proof and to confirm that the case should have been that way venetian of taking things from you awareness of tracing they have been and then you can restore that situation as well and again less efficient and we will cover it in the course. If there s something you re looking for so. That that s one all right so i want to lay there too much not because enough for things that need to make a decision.
I m looking forward to seeing you on the workshop. This weekend. If not in the future work workshops have someone emailed up it s making lots of ways and other than that thank you very much if you have still more questions after watching. This is australian feel free to email me directly you have my email.
Address but between this happening at wge rebound sir are we being a mtvcom. All right thank ” ..
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