Answer the Following: A.What Are the Similarities and Differences Between the Direct and the Direct

question 20

Essay

Answer the following:
a.What are the similarities and differences between the direct and indirect methods of preparing the statement of cash flows?
b.In practice,which method of preparation is used for the statement of cash flows and why?
c.Is the indirect method of presenting the statement of cash flows required by the IASB?
d.Briefly discuss how unrealized gains and losses arising from held-for-trading investments that are not designated as cash equivalents are reported on the statement of cash flows.

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Definitions:

Excel Spreadsheet

A digital document created using Microsoft Excel, used for organizing, analyzing, and storing data in tabular form.

Access Table

A component of Microsoft Access, a relational database management system, used for storing data in rows and columns.

WeeklySalary Field

A specific field in a database or software application designated for storing or inputting an individual's salary calculated on a weekly basis.

Currency

The system of money in general use in a particular country or region, serving as a medium of exchange for goods and services.