Question

Andrew has been asked to estimate future cash flows for his company. He is having a hard time remembering how to estimate future cash flows from his accounting classes. Where should Andrew look to find this information, and which level of the conceptual framework will his new knowledge apply to

Answer 1

Answer: Andrew should look to find the information in SFAC No. 7. The level of the conceptual framework that his new knowledge will apply to is level 3.

Explanation:

From the question, we are informed that Andrew has been asked to estimate future cash flows for his company and that he is having a hard time remembering how to estimate future cash flows from his accounting classes.

Andrew should look to find the information in SFAC No. 7. The level of the conceptual framework that his new knowledge will apply to is level 3.