Journal of Business & Management

Journal of Business & Managemnet
(COES&RJ-JBM)

ISSN (E): 2306-7179
ISSN (P): 2306-8043

Volume 1, No.2, April 2013 Issue

Preparing Statement of Cash Flows from Taoist Perspectives
pp: 50-58

Yu-Je Lee1, Takming University of Science and Technology, Taipei City
Jie He2, budget division, Department of Finance, Qing Hai Province, China
Mei-Fen Wu3, Takming University of Science and Technology, Taipei City
Ying-Qing Li4, Guangzhou Hengyun Enterprises Holding Ltd., China
Ching-Ho Chen5, CPA, Taipei City

Abstract

The preparation of cash-flow statement under the indirect method involves adjustments of many items. This is a highly complex process prone to errors, due to a lack of philosophical guidance. This paper finds that the concept of natural equilibrium of Chinese Taoism “… is the way of heaven to take from what has in excess in order to make good what is deficient...” can lend intellectual support to the preparation of cash flows statement under the indirect method. This approach will greatly enhance the accuracy of cash flows statement under the indirect method. This paper uses examples to illustrate the process of adjustments in the preparation of cash- flow statement under the indirect method in the context of Taoist philosophy. The results show that the philosophical perspectives of Chinese Taoism can provide strong guidance on these adjustments by achieving both efficiency and efficacy. The assurance of this “win-win” is a testimony to the philosophical contents of Taoism in the context of modern times.

Keywords: philosophical perspectives of Taoism, indirect method, cash flow statement

Article Type: Research Article.

 

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Journal of Business & Management (COES&RJ-JBM) Volume 1, No. 2, April 2013 ISSN (E): 2306-7179 ISSN (P): 2306-8043
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