[Anonymous]

statement of cash flows for manufacturer
how/where do you put in
work in progress
earnings in excess of billings
billings in excess of revenue

[Anonymous]

hmm i honestly do not think you have to know this

[MaLoTu]

^LOL

Almost always from my phone... please excuse my typos!

All 4 passed - 2016

CA CPA

[MaLoTu]

WIP should be operating, here is an article:

https://smallbusiness.chron.com/work-progress-statement-cash-flow-37882.html

For earnings in excess of billings, I would think this would be financing? Is it a gain on sale or something to the effect? Why is there excess over billings? Be careful it is not unearned revenue.

I think billings in excess of revenue means they have unearned revenues or revenues they cannot yet recognize. In this article look at the cash flow section: https://thefinancebase.com/deferred-revenue-cash-flow-statement-5035.html

Wish I could be more help. This was a nice little activity for me on my morning commute to work!

Almost always from my phone... please excuse my typos!

All 4 passed - 2016

CA CPA

[okcpa2015]

Operating section, they are all more than likely current assets/liabilities (ie working capital items).

Think of the cash flow statement in this way…
Operating Section – Current Assets/Liabilities
Investing Section – Long-Term Assets
Financing Section – Long-Term Liabilities and Equity related items

FAR - 91
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[Valar Dohaeris]

Like okcpa2015 said, these go in Operating section.

Billings in excess = Deferred Revenue
Costs in excess = Accrued Income
WIP = Inventory? I ask because Construction in Progress can refer to construction of fixed assets (Investing Section). It depends if the WIP is above the line.

All operating activities.

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CPA

Finance Manager

Experienced in Big 4 audit, regional audit, and technical accounting consulting

BEC - 85
AUD - 81
REG - 84
FAR - 7/24/16

[Author]

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