Describe the methodology for the direct and indirect cash flow methods including the major cash flow categories of operating, investing, and financing activities and give examples of each activity. Describe the relationship between the beginning cash balances for the prior period and the current cash balances for the current period.

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The direct and indirect methods are two approaches used to prepare the cash flow statement which is a financial statement that shows the inflows and outflows of cash during a specific period Both meth... View the full answer