- The module is useful when:
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You do not know how to prepare cash flow statement (under IAS) or you are looking for a tool being more than just a cash flow template
There is an error in the cash flows but using your standard tools you are not able to identify its reason
You have a problem with recognizing non-standard transactions in a cash flow statement
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Service description24iValue imitates the process of thinking and the actions a conventional expert uses to prepare a cash flow statement. The system will guide you step by step through the process of creating this compilation, so that a cash flow statement can be prepared well even if you have no knowledge in this field and without using any complex cash flow sheet.
This support is also very useful when you know how to prepare cash flow statements and just want to independently verify your calculations. This is of great assistance if you are responsible for annual financial statements which include a statement of cash flows.
With 24iValue, you can save many hours of hard work and easily produce even a complex cash flow statement and export it to your financial statements.
The system will help you if you do not know how to prepare a cash flow statement, or if you see an error in the cash flow, but can not find its source.
Using this module you can handle calculating cash flow if you do not know how to present non-recurring transactions in your cash flow statement template. You no longer need sample cash flow statements to see how to present them.
In addition, the system will generate the cash flow statement according to IFRS. Our cash flow statement format meets the general requirements of IAS 7.
Do you know that ... ?
In order to prepare correctly a cash flow statement, most often you need no other information than that of which is available in the other elements of financial statements.
Indirect cash flow method is based on the balance sheet changes and it is essential to decompose those changes into the single components that become cash inflows and outflows.
I have been auditing financial statements for years and I keep finding that preparing a cash flow report is a difficult task. The abundance of information to be incorporated and doubts related to classifying events to appropriate cash flow groups increase the risk of error in the cash flow statement.
We prepare a statement of cash flows once a year and that is why it is hard to make friendly with it. It takes a lot of time and there is no assurance that it will be made correctly even though we use a cash flow template. Frequently, we have to consult specialists, which is expensive.
I will give you a misstated statement of cash flow example. Even a small difference in cash flows may result from a very large difference in one direction at the time of another large difference in an opposite direction. Control must be maintained on each working calculation and the signs of the input amounts. There will always be a specific transaction that may come as a surprise to the earlier tested ways in measuring cash flows. It is easy to make a mistake when trying to prepare a cash flow statement, particularly when you do not know how to prepare a cash flow statement. Most of the statement of cash flows templates will not help you to eliminate such mistatements.
The cash flow statement indirect method tool incorporated within 24iValue has been developed for people who do not prepare cash flow statements every day. With the tips built in this web-based service, a statement of cash flows can be made even by persons who do not have much experience in accounting.
With 24iValue, you will not get lost when trying to calculate cash flows. At each stage of input, the consistency and logic of the input data is auto-verified. In practice, that excludes occurrence of a mistaken incompliance between the balance sheet change of cash and the net cash flows.
24iValue helps you recognise many types of infrequent events that are difficult to classify correctly without additional training or studying cash flow samples. Since the service is available round the clock, you can use the cash flow statement as an indirect method tool whenever you need it. Additionally, as the results of the calculation can be exported, you can import a finished cash flow statement to your financial report.
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Statement of Cash Flows