processing a transaction includes involves cash or non transaction and concept of different between two?
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non cash transaction are adjusted while preparing for cash flow using indirect method.
Answer:Non-cash transactions are transaction where no cash is involved. Signing a lease contract, granting options, accrued expenses (expenses are incurred, while actual cash payment is later) are examples of non-cash transactions.
Net income included the non cash items as well while in net cash from operations only cash items are included and net income is adjusted for non cash items.
because depreciation is not causing reduction or cash inflow or cash outflow as depreciation is non cash transaction that's why it is adjusted.
what is the difference between statutory audit and non statutory audit.