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- Document Tags: acca favorite
- Summary: The statement of cash flows summarises cash paid and received during the period.
Under accrual accounting, sales are recorded when goods or services are delivered, creating trade receivables even if cash comes later.
Assets and liabilities are shown separately (not netted); inventory is often valued only at year end and mutual receivables/payables can be offset by agreement. - URL: https://readwise.io/reader/document_raw_content/359101764
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- Note: WTF