Question
Is a statement of cash flows required under cash-basis SPF reporting?
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Answer
No.
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Question
What does an increase in inventory do to accrual COGS?
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Answer
It reduces COGS.
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Question
Why does an increase in prepaid expenses decrease accrual expense?
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Answer
It means cash was paid before the expense was incurred.
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Question
Why does an increase in accounts payable increase accrual expense?
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Answer
It means more was incurred than paid.
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