Week $3$ ACCT $310$

Topics this week include the preparation and analysis of the$$Prepare Statement of Cash Flows $($direct and indirect methods$),$ disclosure requirements, valuing accounts receivable, and the concept of fair value option.

Weekly Learning Objectives:

Explain the major differences between US GAAP and IFRS for the SCF$,$ cash, and receivables.

Explain the purpose, content, and presentation of the statement of cash flows $($SCF$).$

Identify the process for reporting cash and related items.$$

Explain receivables and accounting issues related to their recognition.

Explain accounting issues related to the valuation of accounts receivable.

Explain accounting issues related to the recognition and valuation of notes receivable.

Explain additional accounting issues related to accounts and notes receivable.

Define the Fair Value Option.