Deferrals reflect the exchange of cash prior to the performance of the related event.
Estimates to recognize expenses over a period of time such as depreciation and the bad debt expense allowance Revaluations - from reconciliations of actual and recorded value of assets or changes in accounting principles. Balance sheet from assets, liabilities and equity. Revenue and expense accounts are closed to RE on a monthly basis. CF statement uses data from both income statement and balance sheet. Reports are hierarchical, with each layer including all subunits from below.