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Can we prepare reconciled cash flow statement in case of irreconciled Trial Balance?

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تم إضافة السؤال من قبل Jawad Qureshi , Financial Consultant , AFAZA FZ LLC/Midas Safety Dubai
تاريخ النشر: 2014/10/21
Khaled Mohee Eldeen Abbas Mahmoud
من قبل Khaled Mohee Eldeen Abbas Mahmoud , Chartered Accountant # 10465 , Self-employed

it is better to have a correct trial balance first

georgei assi
من قبل georgei assi , مدير حسابات , المجموعة السورية

Agreed with colleagues answers

Anant Gaitonde
من قبل Anant Gaitonde , GROUP CHIEF FINANCIAL OFFICER , MAHS INVESTMENT HOLDING LIMITED

No. Profit and Loss account and  a Balance sheet are pivotal for preparing a reconciled cash flow. Net Profit and component of these financial statements are essential for a CF statement. Financials cannot be drawn from irreconciled TB

Zahid Mahmood
من قبل Zahid Mahmood , Head of Finance & Account , Water Sector Capacity Building & Advisory Services Project

In fact preparation of Reconciled Cash Flow(RCF)  statement is pivotal and focal practice when Trial Balance is not reconciled, as RCF will help in sorting out the Trial Balance Differences and lead to the conclusion that differences now may be looked into Journal Entries  ticking-off against each of the ledger of  Chart of Accounts.

Moreover it has been observed during preparation of Reconciled Cash Flow posting errors are automatically surfaced and thus more and more accounts of the trial balance are reconciled.

Rolando Bugnot Jr.
من قبل Rolando Bugnot Jr. , Accountant , Aikah Establishment

Yes and in fact it may lead to discovery of reasons for the discrepancy in the trial balance. 

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