Cash and Cash Equivalents

PAS 7

What PAS is related to cash equivalents

not part of cash

part of cash only if redeposited in the same accounting period

are NSF Check and DAIF part of cash?

Cash

Not Cash

Stale check delivered

Stale check received

Total cash and cash equivalent

How much is the amount of cash in the statement of financial position

Face value or exchange rate or spot rate

what is the measurement of cash and cash equivalent

1st line item in the statement of financial position (liquidity)

what is the presentation of cash and cash equivalent

not part of cash (receivable)

are cash in close banks part of cash

fv or nrv (500k) whichever is lower

how to measure cash in close banks

not part of cash (supplies or expense)

are postage stamps part of cash

part of cash

are undelivered or unreleased checks part of cash?

not part of cash (receivable)

are IOUs from employees / employees vale part of cash?

preference share redemption fund

pension fund

fund for acquisition of ppe

plant expansion fund

sinking fund

5 funds not part of cash

postal money orders

money from cebuana and palawan

payroll fund

change fund

dividend fund

interest fund

tax fund

petty cash fund

6 fund that are part of cash

not part of cash

part of cash

post dated check received (from customer)

post dated check delivered (to supplier)

not included in cash equivalent

is equity investment part of cash equivalent

t bills

time deposit

money market placement

the 3 cash equivalents acceptable if acquired 3 months before the maturity

part of cash equivalent

is redimable preference share part of cash equivalent

part of cash equivalent

is short term placement of excess cash preterminated part of cash equivalent

Imprest System

a cash management system where in all cash or the company must be on the bank

fluctuating fund method

Imprest fund method

2 method of keeping the petty cash fund

dr expense

cr cash in bank

journal entry to replenish petty cash fund in imprest method

dr petty cash fund

cr cash in bank

journal entry to replenish petty cash fund in fluctuating method