@Shawc21 any time you are financing anything it is a financing activity- think again where did the money go / come from in relation to the item. You don't physically own a leased asset (until there is a TTO or you pay the BPO)- thus you are not investing in the company- but you are using company funds to fund operations… thus any principle payment whether lease, mortgage or bond payment is financing– and for future info the Interest would be operating.
@AmorD keep in mind that the interim financial statements are used for comparative purpose- typically are not audited and provide users with information on how the company is doing currently in relation to how they have done in the past. With that in mind also remember that your balance sheet is a “snap-shot” of a time period, your income statement is a current summary of revenues and expenses and your cash flow statement shows how money is spent.
So using your example of issuing them quarterly
Your Balance Sheet:
Show YE 2015 and 2016 – this serves as a base so users can see assets and liabilities
Your I/S:
Show Q4 2016, YE 2016 and Q1 2017- this allows the user to see how you have done for year end as well as the current and previous quarter.
Your SC/F:
Show Q4 2016, YE 2016 and Q1 2017 AS WELL AS Q1 2016- this allows user to see how you use your funds- and how your fund use compares to what you spent last year during the same time period- this is especially helpful for retail company's that have seasonal cash needs.
and they ask me why I drink...
FAR- 61-next time I'll ask for lube instead of a calculator
REG-75- Never been so happy to see such a low grade
BEC- 8/11
AUD- 9/2
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