Learning Team Objective

ACC/291

University of Phoenix

Learning Team

In weeks four and five, we learned about ways that a business can get a picture of their overall financial standings. Some of the topics covered include using a statement of cash flows to monitor the coming in and going out of cash, analyzing financial statements, how to record the issuance of the different types of stock and dividend payments, and the Sarbanes-Oxley Act impact.

A statement of cash flows shows the receipt and payment of cash for the company. The direct method is preferred by the FASB, although both methods are acceptable, and shows cash receipts and payments in operations while the indirect method adjusts net income that do not affect cash. In order to get started with a statement of cash flows,...