Cash Flow Statement
Cash flow is an important part in determining where the money goes. This week I was distributed the job of doing cash flow with the objective of calculating the total cash flows in every outlets and factory. It was not same as what I studied in the university especially the format of cash flow presented. Thus, it was a new challenge for me.
The 1st
procedure for me in doing the cash flow was classification all the sales and
payment into factory and every different outlets. Next, I checked out all
the cheques to find out the transaction was under which bank. There were total
5 banks that had frequent transaction with my company which are CIMB, Hong
Leong, May Bank, UOB and OCBC. Besides, in the cash flow, petty cash was
included to claim and pay for the transactions that required in cash.
My supervisor was just
sitting in front my desk so she could easily track on my progress. However, I
tried my best and thought smart to figure out all the information. I did not
want to make fool of myself for asking those easy questions that showed that I
was not thinking. I did a great job with the strong accounting base that I had.
My supervisor told me that she really felt proud and honour of having me as
assistant. It definitely made my day.
Conclusion
I had learned about
cash flow in applying in real business world. It also enhanced my knowledge on
different type of payments that would being charged monthly in a company such as
bank charges, advances paid from petty cash float, loan payment, charges on
purchase of fixed assets, repayment of inter-company advances and cheque payment. In the future, in achieving corporate ladder in commercial firms, the
ability to do cash flow will definitely be my strength and enable me to catch up
in the cash flow accounting in whatever company that I work in.
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