The Statement of Cashflows prepared on an indirect basis is ubiquitous. It is filed by every public company in the quarterly 10-Q and annual 10-K financial statements. Also, private companies who are audited must prepare this statement as part of their periodic reporting.
SaaS95 is an application that enables financial reporting practitioners to prepare this indirect Statement of Cashflows in conformity with US GAAP.
Most ERP systems pretend to address the Statement of Cashflows. They either offer overly complicated report-writer functionality needing a computer science degree to manage & maintain or they don’t even pretend at all. In either case, the inevitable “spreadsheet” method ensues.
The Statement of Cashflows is arguably the most complicated statement to prepare compared to the other 3 core required statements: the statement of position, the statement of operations, and the statement of shareholder’s equity. The Statement of Cashflows presents financial transactions from these other three statements in unintuitive ways that reconcile net income to the change in cash and cash equivalents. As a result of this complexity, inflexibility, errors, and single-track work methods are unintended consequences.
SaaS95 addresses the preparation of this statement in a structured way that allows flexibility and bypasses the spreadsheet. A great analogy would be bowling with and without bumpers. SaaS95 gives practitioners bumper rails when preparing their Statement of Cashflows. Preparation becomes trivial with bumpers.
SaaS95 is licensed under the Creative Commons Non-Commercial 4.0 deed. Practitioners and their teams are free to download, implement, modify, redistribute, and benefit from SaaS95. SaaS95 shall not be exploited by services, however, for commercial hosting endeavors. Expertise-based consulting and implementation services are outside the scope of SaaS95’s license.