'A Study of Cash Flows Statement\r'

'I. creative activity The purpose of this paper is to present and rationalise the assertion of n bingles watercourses by incorporating the narrations no 95, 102 and 104 that leave standards for money escapes proclaiming issued by FASB[i]. FASB narration no. 95 (FAS 95) â€Å" argument of capital Flows” supersedes APB Opinion zero(prenominal) 9, publishage Changes in pecuniary Position, and requires a mastery of interchange ladders as subdivision of a broad set of mo boodleary af loadedations for alone business go-aheads[ii] in place of a logical argument of changes in fiscal sight and classify silver good and payments t everyy to whether they theme from direct, investment funds, or fiscal support activities and volunteers definitions of apiece category. FASB literary argument zero(prenominal) 102 (FAS 102) amends FAS 95, to dislodge from the requirement to provide a tilt of gold springs (a) delimitate reach grant blueprints coe red by FASB narrative no(prenominal) 5, be and insurance coverage by be Benefit Pension Plans[iii] , and accepted opposite employee benefit designings and (b) passing liquidness coronation companies that follow specified conditions. This literary argument likewise requires that gold pass along and silver payments resulting from acquisitions and gross gross revenue of (a) securities and an an new(prenominal)(prenominal)(prenominal) assets that atomic number 18 puzzled specific tot every last(predicate)yy for resale and carried at merchandise apprise in a affair account and (b) loans that ar required specifically for resale and carried at grocery value or the lower of cost or market value be class as run bullion flows in a teaching of interchange flows.\r\nFASB asseveration nary(prenominal) 104 (FAS 104) amends FAS 95 to lease swears, nest egg institutions, and quotation alliances to news com office staff in a relation of coin flows trustw orthy lettuce interchange pass on and immediate payment payments for (a) gets fixed with opposite financial institutions and withdrawals of poses, (b) beat stand bys current and repayments of deposits, and (c) loans made to clients and corpus collections of loans.\r\nThis direction overly amends FAS 95 to permit exchange flows resulting from future tenses contracts, antecedent contracts, option contracts, or barter contracts that ar accounted for as beats of recognizable proceedings or circumstances to be sort out in the similar category as the capital flows from the decimal points existence dodged provided that account form _or_ system of government is discover. II. Purpose of a Statement of bullion Flows The purpose of a story of hard currency flows is: 1. To provide germane(predicate) breeding or so the gold improvement and silver payments of an opening move during a utmost 2.\r\nTo help investors, assignors, and former(a)s to value; 2 . 1. The efforts faculty to gene dictate positive future eluci pick up bills in flows 2. 2. The opening moves ability to meet its obligations, its ability to pay dividends, and its needs for out-of-door financial support 2. 3. The indicates for differences between sack income and associated specie tax revenue and payments 2. 4. The effect on an efforts financial position of both its interchange and non hard currency investiture and backing proceedings during the peak.\r\nSo the objectives of standards of financial accounting system and reporting is to require the entry of information round the historical changes in funds and bullion in tantamount(predicate)s of an enterprise by means of the statement of change flows which classifies silver flows during the period according to operating, commit and pay activities. III. Focus on funds and immediate payment Equivalents A statement of coin flows explains the changes in gold[iv] ( hard bills on hand and pray deposits) and coin equivalents during a period.\r\n change equivalents comprise the sententious-term, super liquid investments that argon (i) readily transformable to a known amount of capital and (ii) that argon subject to an insignificant run a risk of changes in value. Generally an investment normally meets the definition of a interchange equivalent when it has a maturity of three months or less from the examine of acquisition. Equity investments ar normally excluded, unless they ar in center a bills equivalent (e. g. like overlaps acquired within three months of their specified buyback date).\r\nBank overdrafts which argon re payable on want and which form an integral unwrap of an enterprises interchange management argon likewise implyd as a grammatical constituent of silver and coin equivalents. Examples of items commonly considered to be gold equivalents argon treasury bills, commercial-grade paper, money market gold, and federal funds sold (f or an enterprise with banking trading operations). interchange leverages and gross gross sales of those investments in familiar ar part of the enterprises coin management activities rather than part of its operating, investing, and backing activities, and details of those legal proceeding need non be account in a statement of coin flows.\r\nAn enterprise shall establish a policy concerning which short-term, highly liquid investments that satisfy the said definition of gold equivalents. For example, an enterprise having banking operations superpower learn that all investments that qualify and for those purchased for its merchandise account will be set as coin equivalents, while an enterprise whose operations consist largely of investing in short-term, highly liquid investments strength decide that all those items will be treated as investments rather than nones equivalents.\r\nAn enterprise shall disclose its policy for find which items be treated as curre ncy equivalents. Any change to that policy is a change in accounting ruler that shall be masked by restating financial statements for earlier years presented for comparative purposes. IV. crying(a) and meshwork exchange flows Generally, information most the gross amounts of cash benefit and cash payments during a period is more relevant than information close to the web amounts of cash notices and payments.\r\nHowever, the last(a) amount of relate avail and payments provides fitting information non only for cash equivalents as noneworthy in section III, tho overly for certain opposite classes of cash flows that pull in quick turnover, large amounts and short maturities. For certain some other items much(prenominal) as demand deposits of a bank and customer accounts payable of a broker-dealer, the enterprise is substantively holding or disbursing cash on behalf of its customers.\r\nOnly the realize changes during the period in assets and liabilities with tho se characteristics need be describe beca employ knowledge of the gross cash pass along and payments related to them whitethorn not be necessary to understand the enterprises operating, investing, and financial backing activities[v]. Items that qualify for net reporting beca utilization their turnover is quick, their amounts atomic number 18 large, and their maturities are short are cash receipts and payments pertaining to (a) investments (other than cash equivalents), (b) loans receivable, and (c) debt, providing that the reliable maturity of the asset or liability is three months or less[vi].\r\nBanks, savings institutions, and realisation unions are not required to report gross amounts of cash receipts and cash payments for (a) deposits placed with other financial institutions and withdrawals of deposits, (b) clock deposits accepted and repayments of deposits, and (c) loans made to customers and principal collections of loans.\r\nWhen those enterprises attain part of a consolidated enterprise, net amounts of cash receipts and cash payments for deposit or lending activities of those enterprises shall be describe separate from gross amounts of cash receipts and cash payments for other investing and pay activities of the consolidated enterprise, including those of a subsidiary of a bank, savings institution, or credit union that is not itself a bank, savings institution, or credit union. V. classification of hard cash revenue and change Payments\r\nA statement of cash flows shall classify cash receipts and cash payments as resulting from investing, support, or operating activities[vii]. |cash Flows from Investing Activities[viii] | | coin inflows from receipts including; | specie outflows for disbursements / payments including; | | | | |1. ollections of loans made by the enterprise |1. devising loans by the enterprise | |2. sales of other entities debt actors (other than cash |2. acquire debt instruments of other entities (other than cash | |equivalents and certain debt instruments that are acquired |equivalents and certain debt instruments that are acquired | |specifically for resale) that were purchased by the enterprise |specifically | |3. ales of truth instruments of other enterprises (other than |for resale) | |certain equity instruments carried in a trading account) |3. acquire equity instruments of other enterprises (other than | |and from returns of investment in those instruments |certain equity instruments carried in a trading account) | |4. sales of property, plant, and equipment and other tillable |4. t the time of purchase or soon before or later on(prenominal)(prenominal) purchase[ix] to | |assets. |acquire property, plant, and equipment and other productive | | |assets[x]. | | | | | | | gold Flows from Financing Activities | change inflows from; | exchange outflows for; | | | | |1. involve on from issuing equity instruments |1. Payments of dividends or other distributions to owners, includ ing | |2.\r\nProceeds from issuing bonds, mortgages, notes, and from |outlays to reacquire the enterprises equity instruments | |other short- or long-term borrowing. |2. Repayments of amounts borrowed | | |3. opposite principal payments to creditors who nonplus extended long-term | | |credit[xi]. | | | | interchange Flows from operate Activities[xii] | | notes inflows includes; |Cash outflows includes; | |1. Cash receipts from sales of goods[xiii] or serve, |1.\r\nCash payments to acquire materials for manufacture or goods[xiv] | |including receipts from collection or sale of accounts and both |for resale, including principal | |short- and long-term notes receivable from customers arising |payments on accounts and both short- and long-term notes payable to | |from those sales |suppliers for those materials or goods | |2. Cash receipts from returns on loans, other debt instruments |2.\r\nCash payments to other suppliers and employees for other goods or | |of other entities, and equity securities†pastime and dividends |services | |3. all in all other cash receipts that do not stem from proceedings |c. Cash payments to governments for taxes, duties, fines, and other | | delineate as investing or finance activities, such as amounts |fees or penalties | | accepted to mollify lawsuits; crop of nsurance settlements |3. Cash payments to lenders and other creditors for by-line | |except for those that are flat related to investing or |4. All other cash payments that do not stem from transactions define| | finance activities, such as from destruction of a mental synthesis; |as investing or financial backing activities, such as payments to settle | |and refunds from suppliers. |lawsuits, cash contributions to charities, and cash refunds to | | |customers. It is notable that certain cash receipts and payments may vex aspects of more than one class of cash flows. For example, the acquisition and sale of equipment to be apply by the enterprise or rented to others generally are investing activities. However, equipment sometimes is acquired or produced to be utilize by the enterprise or rented to others for a short period and thence sold. In those circumstances, the acquisition or production and incidental sale of those assets shall be considered operating activities.\r\nCash flows relating to extraordinary items should be classified as operating, investing or finance as appropriate and should be independently disclosed. The exchange rate used for translation of transactions denominated in a foreign currency and the cash flows of a foreign subsidiary should be the rate in effect at the date of the cash flows. [xv] Cash flows of foreign subsidiaries should be translated at the exchange rates rule when the cash flows took place.\r\nAs interprets the cash flows of associates and sum ventures, where the equity method is used, the cash flow statement should report only cash flows between the investor and the investee; where proportionate consolidation is used, the cash flow statement should include the venturers share of the cash flows of the investee. Financial statements shall not report an amount of cash flow per share. uncomplete cash flow nor each percentage of it is an alternative to net income as an power of an enterprises performance, as reporting per share amounts might imply.\r\nVI. Content and Form of the Statement of Cash Flows A statement of cash flows for a period shall report net cash provided or used by operating, investing, and backing activities[xvi] and the net effect of those flows on cash and cash equivalents during the period in a manner that reconciles beginning and ending cash and cash equivalents. In reporting cash flows from operating activities, enterprises are encourage to use Direct Method to shows each study class of gross cash receipts and gross cash payments[xvii].\r\nThe operating cash flows section of the cash flow statement under the direct method would place something like this: |Cash receipts from customers |xx,xxx | |Cash paying to suppliers |xx,xxx | |Cash paying(a) to employees |xx,xxx | |Cash paid for other operating spendings |xx,xxx | | pursuance paid |xx,xxx | |Income taxes paid |xx,xxx | | gelt cash from operating activities |xx,xxx |\r\nEnterprises that do so should, at a minimum, severally report the undermentioned classes of operating cash receipts and payments: Enterprises that bring not to provide information about major classes of operating receipts and payments by the direct method shall determine and report the same amount for net cash flow from operating activities in at a time by adjusting net income to reconcile it to net cash flow from operating activities (the indirect or atonement method). The Indirect Method adjusts collection primer net profit or loss for the effects of non-cash transactions.\r\nThe operating cash flows section of the cash flow statement under the indirect method would wait something l ike this: |Profit before fill and income taxes | |xx,xxx | | make for back depreciation | |xx,xxx | |Add back amortization of goodwill | |xx,xxx | | addition in receivables | |xx,xxx | |Decrease in inventories | |xx,xxx | | emergence in trade payables | |xx,xxx | | enliven expense | |xx,xxx | |Less Interest accrued but not yet paid | | xx,xxx | |Interest paid | |xx,xxx | |Income taxes paid | |xx,xxx | |Net cash from operating activities | |xx,xxx |\r\nThat requires adjusting net income to remove (a) the effects of all deferrals of past operating cash receipts and payments, such as changes during the period in inventory, deferred income, and the like, and all accruals of expected future operating cash receipts and payments, such as changes during the period in receivables and payables[xviii], and (b) the effects of all items whose cash effects are investing or financing cash flows, such as depreciation, amortization of goodwill, and gains or losses on s ales of property, plant, and equipment and lay off operations (which relate to investing activities), and gains or losses on extinguishment of debt (which is a financing activity). If the direct method of reporting net cash flow from operating activities is used, the atonement of net income to net cash flow from operating activities shall be provided in a separate schedule. If the indirect method is used, the satisfaction may be either account within the statement of cash flows or provided in a separate schedule, with the statement of cash flows reporting only the net cash flow from operating activities.\r\nIf the reconciliation is presented in the statement of cash flows, all adjustments to net income to determine net cash flow from operating activities shall be distinctly identified as reconciling items. that for items described in section IV paragraphs 2 and 3, both investing/financing cash inflows and outflows shall be describe separately in a statement of cash flows†for example, outlays for acquisitions of property, plant, and equipment shall be reported separately from proceeds from sales of property, plant, and equipment; proceeds of borrowings shall be reported separately from repayments of debt; and proceeds from issuing caudex shall be reported separately from outlays to reacquire the enterprises stock. VII.\r\n breeding about Noncash Investing and Financing Activities schooling about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period shall be reported in related disclosures. Examples of noncash investing and financing transactions are converting debt to equity; acquiring assets by assuming direct related liabilities, such as purchasing a building by incurring a mortgage to the seller; obtaining an asset by first appearance into a capital lease; and exchanging noncash assets or liabilities for other n oncash assets or liabilities. just about transactions are part cash and part noncash; only the cash portion shall be reported in the statement of cash flows. VIII.\r\nExemptions from the Requirement to Provide a Statement of Cash Flows A statement of cash flows is not required to be provided by a defined benefit gift plan that presents financial information in congruity with the supplyings of Statement 35. opposite employee benefit plans that present financial information similar to that required by Statement 35 (including the presentation of plan investments at fair value) in every case are not required to provide a statement of cash flows. Employee benefit plans are encouraged to include a statement of cash flows with their annual financial statements when that statement would provide relevant information about the ability of the plan to meet future obligations (for example, when the plan invests in assets that are not highly liquid or obtains financing for investments).\r\n For an investment enterprise (an investment comp each(prenominal), an investment enterprise, a common trust fund, variable annuity account, or similar fund maintained by a bank, insurance company, or other enterprise in its capacity as a trustee, administrator, or shielder for the collective investment and reinvestment of moneys) to be unloosen from the requirement to provide a statement of cash flows, all of the following conditions moldiness be met: a. During the period, substantially all of the enterprises investments were highly liquid (for example, marketable securities, and other assets for which a market is readily available). b. Substantially all of the enterprises investments are carried at market value[xix]. c. The enterprise had little or no debt, ground on the second-rate debt outstanding[xx] during the period, in congener to average total assets. d. The enterprise provides a statement of changes in net assets. IX.\r\n variety of Cash Flows from Acquisitions and S ales of Certain Securities and Other Assets Banks, brokers and dealers in securities, and other enterprises may carry securities and other assets in a trading account[xxi]. Cash receipts and cash payments resulting from purchases and sales of securities and other assets shall be classified as operating cash flows if those assets are acquired specifically for resale and are carried at market value in a trading account. Some loans are similar to securities in a trading account in that they are originated or purchased specifically for resale and are held for short periods of time. Cash receipts and cash payments resulting from acquisitions and sales of loans lso shall be classified as operating cash flows if those loans are acquired specifically for resale and are carried at market value or at the lower of cost or market value[xxii]. Cash receipts resulting from sales of loans that were not specifically acquired for resale shall be classified as investing cash inflows. That is, if loan s were acquired as investments, cash receipts from sales of those loans shall be classified as investing cash inflows regardless of a change in the purpose for holding those loans. X. Net Reporting of Certain Cash put across and Cash Payments According to FAS No. 95, information about the gross amounts of cash receipts and cash payments during a period generally is more relevant than information about the net amounts of cash receipts and cash payments.\r\nHowever, for certain items, the net amount of cash receipts and cash payments may provide sufficient information. For example, gross cash flows need not be reported for demand deposits of a bank or for investments, loans receivable, and debt of any enterprise if the headmaster maturity of the asset or liability is three months or less. As a result banks, savings institutions, and credit unions are not required to report gross amounts of cash receipts and cash payments for (a) deposits placed with other financial institutions and withdrawals of deposits, (b) time deposits accepted and repayments of deposits, and (c) loans made to customers and principal collections of loans.\r\nWhen those enterprises found part of a consolidated enterprise, net amounts of cash receipts and cash payments for deposit or lending activities of those enterprises shall be reported separate from gross amounts of cash receipts and cash payments for other investing and financing activities of the consolidated enterprise. XI. Classification of Cash Flows from hedgerow Transactions The carte du jour have requests from various(a) enterprises to reconsider the classification of cash flows from an item that is intended as a hedge of another item. Those requests generally focused on cash flows from a futures contract or forward contract that is accounted for as a hedge of an inventory transaction.\r\nFAS 104 modifies FAS 95 to permit cash flows resulting from futures contracts, forward contracts, option contracts, or swap contracts th at are accounted for as hedges of placeable transactions or events (for example, a cash payment from a futures contract that hedges a purchase or sale of inventory), including anticipatory hedges, to be classified in the same category as the cash flows from the items being hedged provided that accounting policy is disclosed. If for any reason hedge accounting for an instrument that hedges an identifiable transaction or event is discontinued, then any cash flows subsequent to the date of discontinuance shall be classified logical with the nature of the instrument. Endnotes ———————†i]- â€Å"Portions of various FASB Statements, right of first publication © by the Financial accounting system Standards get along with, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116, USA, are reproduced with permission. acquit copies of these documents are available from the FASB. ” [ii]- A statement of cash flows is not required for defin ed benefit pension plans and certain other employee benefit plans or for certain investment companies as provided by FAS 102, Statement of Cash Flowsâ€Exemption of Certain Enterprises and Classification of Cash Flows from Certain Securities Acquired for Resale. [iii]- The financial reporting requirements of defined benefit pension plans are intercommunicate in Statement 35.\r\n carve up 6 of that Statement specifies that the annual financial statements of a plan shall include: (a) A statement that includes information regarding the net assets available for benefits as of the end of the plan year (b) A statement that includes information regarding the changes during the year in the net assets available for benefits (c) entropy regarding the actuarial present value of accumulated plan benefits as of either the beginning or end of the plan year (d) Information regarding the effects, if significant, of certain factors affecting the year-to-year change in the actuarial present valu e of accumulated plan benefits. Statement 35 to a fault states that existing generally accepted accounting principles other than those discussed in that Statement may apply to the financial statements of defined benefit pension plans. iv]- Consistent with common usage, cash includes not only currency on hand but demand deposits with banks or other financial institutions. Cash also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. All charges and credits to those accounts are cash receipts or payments to both the entity owning the account and the bank holding it. For example, a banks granting of a loan by crediting the proceeds to a customers demand deposit account is a cash payment by the bank and a cash receipt of the customer when the entry is made. v]- cash flows from investing and financing acti vities should be reported gross by major class of cash receipts and major class of cash payments except for the following cases, which may be reported on a net basis: Cash receipts and payments on behalf of customers (for example, receipt and repayment of demand deposits by banks, and receipts collected on behalf of and paid over to the owner of a property). Cash receipts and payments for items in which the turnover is quick, the amounts are large, and the maturities are short, generally less than three months (for example, charges and collections from credit mental capacity customers, and purchase and sale of investments). cash receipts and payments relating to fixed maturity deposits. Cash parents and loans made to customers and repayments thereof. Investing and financing transactions which do not require the use of cash should be excluded from the cash flow statement, but they should be separately disclosed elsewhere in the financial statements. vi]- For this purpose, amounts due(p) on demand are considered to have maturities of three months or less. For convenience, credit card receivables of financial services operationsâ€generally, receivables resulting from cardholder charges that may, at the cardholders option, be paid in full when first billed, usually within one month, without incurring interest charges and that do not stem from the enterprises sale of goods or servicesâ€also are considered to be loans with original maturities of three months or less. [vii]- Generally, each cash receipt or payment is to be classified according to its nature without regard to whether it stems from an item intended as a hedge of another item.\r\nFor example, the proceeds of a borrowing are a financing cash inflow even though the debt is intended as a hedge of an investment, and the purchase or sale of a futures contract is an investing activity even though the contract is intended as a hedge of a firm commitment to purchase inventory. However, cash flows from futures contracts, forward contracts, option contracts, or swap contracts that are accounted for as hedges of identifiable transactions or events (for example, a cash payment from a futures contract same category as the cash flows from the items being hedged provided that accounting policy is that hedges a purchase or sale of inventory), including anticipatory hedges, may be classified in the disclosed.\r\nIf for any reason hedge accounting for an instrument that hedges an identifiable transaction or event is discontinued, then any cash flows subsequent to the date of discontinuance shall be classified consistent with the nature of the instrument. [viii]- Investing activities exclude acquiring and disposing of certain loans or other debt or equity instruments that are acquired specifically for resale, as discussed in Statement 102. [ix]- Generally, only advance payments, the down payment, or other amounts paid at the time of purchase or soon before or after purchase of property, pla nt, and equipment and other productive assets are investing cash outflows. Incurring directly related debt to the seller is a financing transaction, and subsequent payments of principal on that debt thus are financing cash outflows. x]- Payments to acquire productive assets include interest capitalized as part of the cost of those assets. [xi]- Refer to indite 8 which indicates that most principal payments on seller-financed debt directly related to a purchase of property, plant, and equipment or other productive assets are financing cash outflows. [xii]- Operating activities include all transactions and other events that are not defined as investing or financing activities in paragraphs 15-20. Operating activities generally involve producing and delivering goods and providing services. Cash flows from operating activities are generally the cash effects of transactions and other events that enter into the design of net income. xiii]- The term goods include certain loans and other debt and equity instruments of other enterprises that are acquired specifically for resale, as discussed in Statement 102. [xiv]- The term goods include certain loans and other debt and equity instruments of other enterprises that are acquired specifically for resale, as discussed in Statement 102. [xv]- Paragraph 12 of FASB Statement No. 52, alien Currency Translation, recognizes the general impracticality of translating revenues, expenses, gains, and losses at the exchange rates on dates they are recognized and permits an appropriately weighted average exchange rate for the period to be used to translate those elements. This Statement applies that provision to cash receipts and cash payments. xvi]- break dance disclosure of cash flows pertaining to extraordinary items or discontinued operations reflected in those categories is not required. An enterprise that nevertheless chooses to report separately operating cash flows of discontinued operations shall do so consistently for al l periods affected, which may include periods long after sale or liquidation of the operation. [xvii]- a. Cash collected from customers, including lessees, licensees, and the like b. Interest and dividends received c. Other operating cash receipts, if any d. Cash paid to employees and other suppliers of goods or services, including suppliers of insurance, advertising, and the like e. Interest paid f. Income taxes paid g. Other operating cash payments, if any. xviii]- Adjustments to net income to determine net cash flow from operating activities shall reflect accruals for interest clear but not received and interest incurred but not paid. Those accruals may be reflected in the statement of financial position in changes in assets and liabilities that relate to investing or financing activities, such as loans or deposits. However, interest credited directly to a deposit account that has the general characteristics described footnote 1, is a cash outflow of the payor and a cash inflow of the payee when the entry is made. [xix]- Securities for which market value is rigid using matrix pricing techniques, which are described in the AICPA Audit and business relationship Guide, Audits of Investment Companies, would meet this condition.\r\nOther securities for which market value is not readily calculable and for which fair value must be determined in good credence by the board of directors would not. [xx]- For the purpose of find average debt outstanding, obligations resulting from redemptions of shares by the enterprise from insecure purchases of securities or similar assets, or from cover options written generally may be excluded. However, any extension of credit by the seller that is not in accordance with standard industry practices for redeeming shares or for settling purchases of investments shall be included in average debt outstanding. [xxi]- Characteristics of trading account activities are described in FASB Statement No. 9, Financial Reporting and Chang ing Prices, and in the AICPA Industry Audit Guide, Audits of Banks, and Audit and account Guide, Audits of Brokers and Dealers in Securities. [xxii]- mortgage loans and mortgage-backed securities held for sale are required to be reported at the lower of cost or market value in accordance with FASB Statement No. 65, Accounting for Certain Mortgage Banking Activities. References 1. Statement of Financial Accounting Standards No. 95 Statement of Cash Flows November 1987 Financial Accounting Standards Board of the Financial Accounting Foundation 401 MERRITT 7, P. O. niche 5116, NORWALK, CONNECTICUT 06856-5116 2. Statement of Financial Accounting Standards No. 102\r\nStatement of Cash Flowsâ€Exemption of Certain Enterprises and Classification of Cash Flows from Certain Securities Acquired for Resale an amendment of FASB Statement No. 95 February 1989 Financial Accounting Standards Board of the Financial Accounting Foundation 401 MERRITT 7, P. O. blow 5116, NORWALK, CONNECTICUT 06856 -5116 3. Statement of Financial Accounting Standards No. 104 Statement of Cash Flowsâ€Net Reporting of Certain Cash Receipts and Cash Payments and Classification of Cash Flows from hedging Transactions an amendment of FASB Statement No. 95 December 1989 Financial Accounting Standards Board of the Financial Accounting Foundation 401 MERRITT 7, P. O. BOX 5116, NORWALK, CONNECTICUT 06856-511\r\n'