Statement of Cash Flows. The accompanying statement of cash flows includes the operating, investing and financing cash flows related the ISIS Division's operations. These financial statements have been prepared by management in accordance with Canadian generally accepted accounting principles which require management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from those estimates. The principal accounting policies are as follows: Revenue Recognition Revenues from sales of the Division's products are recorded at the time the product is shipped, provided that collection of the proceeds of sale is reasonably assured. A provision is recorded at the time revenue is recognized based on estimated customer returns and allowances.
Statement of Cash Flows. The format for the statement of cash flows is shown in Appendix L of the FMG.
Statement of Cash Flows. The Statement of Cash Flows is presented using the direct method and provides analysis related to cash inflows and outflows, summarized by operating, capital and noncapital financing, and investing activities, and illustrates the sources and uses of cash. This statement allows the reader to assess the District's ability to generate positive cash flows, meet obligations as they become due, and evaluate the need for external financing. The Statement of Cash Flows as of June 30, 2015, is presented below: (Amounts in thousands) 2014 2015 (as restated) Change Cash Provided by (Used in) Operating activities $ (143,852) $ (118,094) $ (25,758) Noncapital financing activities 142,883 115,707 27,176 Capital financing activities 227,828 (42,637) 270,465 Investing activities 779 920 (141) Net Increase (Decrease) in Cash 227,638 (44,104) 271,742 Cash, Beginning of Year 121,146 165,250 (44,104) Cash, End of Year $ 348,784 $ 121,146 $ 227,638 Cash receipts from operating activities are from student tuition and from Federal, State, and local grants. Uses of cash are payments to employees, vendors, and students related to instructional programs. The increase was due mostly to payments to vendors, related to increases in Federal and State program expenditures, construction related costs, and STRS payments made on behalf of the District to the State. COLA payments received from the State explains the majority of the increase in noncapital financing activities. In January 2015, the District successfully refinanced $127.9 million in Proposition M General Obligation bonds. The original general obligation bonds were sold with an average interest rate of 4.497 percent and final maturity in 2032. The new rate is 2.710 percent with the same maturity date. The District also issued Series C bonds in April 2015 in the amount of $220 million. Cash from investing activities consists of interest earned on cash in bank and cash invested through the San Diego County Treasury.
Statement of Cash Flows. The Statement of Cash Flows presents information showing how the Authority’s cash was provided and how it was used. The statement distinguishes between cash flows from: operating activities, capital and related financing activities, and investing activities. The statement also reconciles the operating income to net cash provided by operating activities during the fiscal year.
Statement of Cash Flows. For purposes of presentation in the statement of cash flows, the Authority considers cash and cash equivalents as short term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they represent insignificant risk of changes in value because of changes in interest rates. The Authority follows the practice of pooling cash and investments of all programs (funds) and each program’s cash and investments represents amounts that can be withdrawn at any time and therefore, are considered to be cash and cash equivalents for purposes of the statement of cash flows.
Statement of Cash Flows. On August 26, 2016, the FASB issued ASU 2016-15, "Classification of Certain Cash Receipts and Cash Payments." The ASU adds guidance pertaining to the classification of certain cash receipts and payments on the statement of cash flows. The purpose of the amendment is to clarify issues that have been creating diversity in practice, including the classification of proceeds from the settlement of insurance claims and proceeds from the settlement of corporate-owned life insurance policies. The amendments in this standard are effective for us beginning January 1, 2018. We do not expect this standard to materially affect our financial statements and disclosures. LEASES. On February 25, 2016, the FASB issued ASU 2016-02, "Leases," which revises the existing lease accounting guidance. Pursuant to the new standard, lessees will be required to recognize all leases, including operating leases that are greater than 12 months at lease commencement, on the balance sheet and record corresponding right-of-use assets and lease liabilities. Lessor accounting will remain substantially the same under the new standard. Quantitative and qualitative disclosures are also required for users of the financial statements to have a clear understanding of the nature of our leasing activities. The standard is effective for us beginning January 1, 2019. The new standard must be adopted using a modified retrospective transition and provides for certain practical expedients. On November 29, 2017, the FASB proposed an additional practical expedient that would allow entities to apply the transition requirements on the effective date of the standard. On January 25, 2018, the FASB issued ASU 2018-01, "Land Easement Practical Expedient for Transition to Topic 842", to address the costs and complexity of applying the transition provisions of the new lease standard to land easements. This ASU provides an optional practical expedient to not evaluate existing or expired land easements that were not previously accounted for as leases under the current lease guidance. We are evaluating additional amendments reached by the FASB, and we are currently assessing our lease population and material contracts to determine the effect of this standard on our financial statements and disclosures. Refer to Note 14 for our current lease commitments.
Statement of Cash Flows. For Provider agency-wide audits only.
Statement of Cash Flows. In November of 2016, the FASB issued ASU 2016-18, Statement of Cash Flows, which simplifies the presentation of restricted cash on the statement of cash flows by requiring entities to include restricted cash and restricted cash equivalents in the reconciliation of cash and cash equivalents. The amendments in this ASU become effective for the Company for fiscal years beginning January 1, 2018. We elected to early adopt this ASU as of January 1, 2017 and presented this change on a retrospective basis for all periods presented. We concluded that this ASU does not have a material impact on our consolidated financial statements.
Statement of Cash Flows. In August of 2016, the FASB issued ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments, which clarifies how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments in this ASU will become effective for the Company for fiscal years beginning January 1, 2018. We concluded the adoption of this ASU will not have a material impact on our consolidated financial statements.
Statement of Cash Flows. The Pro-Forma statement of cash flows must reflect the proposed Maryland Broadband Program project funding and investments as well as any additional funding for working capital and other capital expenditures for the applicant exclusive of the Grant project. The following is a brief description of the pre-populated cash flow categories contained on the Cash Flow worksheet in this template. Beginning Cash represents cash balances at the beginning of the period. Cash Flows from Operating Activities:
