I was hoping someone would be able to clarify this for me. I know that notes payable should be classified under CFF but if it is classified under short term notes payable, does it get classified as CFO?
no do not think so. any note payable would go to CFF only.
No. Interest payments go in CFO, principal always in CFF.
^ under US-GAAP only. With IAS-GAAP Interest Paid should be classified as CFO or CFF - Dinesh S
And that’s actually an important point because one of the questions on the sample CFAI exam was exactly that. How is interest paid classified for both US and IAS GAAP.
there’s a thread started by Maratikus on US vs. IAS GAAP … where this same has been posted for reference.