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    Cash Flow statements- HC1010 Accounting for Business

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    Perform a cash flow analysis and answer the following assignment’s questions. Question 1.Discuss in details the purposes of the statement of cash flows? Question 2.Describe the concept of cash used in the preparation of the statement of cash flows - Cash and Cash equivalent? Question 3.Explain why cash flows from operating activities are important to users of a statement of cash Flow? Question 4.Why does the cash on hand balance as at the end of the financial year in the statement of cash flow not concur with the cash balance shown in current assets in the statement of financ...

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    Cash Flow Statement is amongst one of the Financial Statement, which is needed to be prepared by almost all business entities usually at the end of the financial year. For a business to be successful, there is a need to have sufficient cash at all the times. In order to analyze the liquidity position of an entity, analysts use cash flow statements to know the cash inflows and outflows made by the company during the year. The Cash Flow Statement is prepared by 2 methodsDirect & Indirect Method, and it consists of three activities, namely, Cash flows from Operating Activities, Investing Activities and Financing Activities. The difference in method is only the difference in calculation of cash flows from operating activities, and in both the cash flows from investing and financing activities remains same.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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