Understanding the new statement of cash flows

Article Abstract:

The Financial Accounting Standards Board Statement No. 95, 'Statement of Cash Flows', which superseded the Accounting Principles Board Opinion No. 19, requires a new cash-flow approach to the funds statement. The statement was issued in July 1988 to eliminate many of the ambiguities arising from Opinion No. 19. The goal of Statement No. 95 is to assist investors, creditors, and others to: reveal a corporation's ability to generate future positive cash flows; meet its financial obligations, pay dividends, and determine the need for external financing; determine the reasons for differences between net income and related cash receipts and payments; and determine the effects on the corporation's financial position of its investments and financial transactions.

Standards, Reports, Cash flow, Corporation reports, Company reports, Financial Accounting Standards Board

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Priority patterns of acquisition of financial assets

Article Abstract:

Since the order of acquisition of durable goods and other financial assets has important marketing implications, Guttman scalogram analysis was used to study the order of acquisition of ten financial assets by Canadian households. A priority pattern for financial asset acquisition was found for Canadian married couples, with checking and savings accounts at the top of the list. Contrary to the United States population, the Canadians attached higher priority to saving's accounts over husbands' insurance and seem to prefer mutual funds over corporate bonds.

Planning, Canada, Economic aspects, Capital assets, Households

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Guidelines for personal financial planning

Article Abstract:

Personal financial planning is becoming more important because of recent tax changes and a loss of faith in traditional retirement packages. People should begin planning for their financial future as soon as possible to gain the most benefit by: establishing clear financial goals; developing periodic statements of net worth; and developing tax, savings, and investment plans. Other personal financial planning concerns include: planning for retirement and estates; planning for risk management and insurance; and understanding the financial planning industry.

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