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A company borrows $10,000 and signs a 90-day nontrade note payable. in preparing a statement of cash flows (indirect method), this event would be reflected as an addition adjustment to the net income in the cash flows from operating activities section.
The indirect method for a cash flow statement is a system which presents data that shows how much money will be spent by company during a certain period and from what sources it came.
It considers the company's net income and either adds or deducts balance sheet items to determine the cash flow.
Cash flow statements include three sections:
Operating activities, includes sales , supplies or purchases, business expenses and employee salaries
Investing activities including assets which are bought or sold and loans paid or collected
Financing activities involves stocks, bonds or dividends
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