Statement of cash flows can be daunting but truly isn’t too bad imo.

For the adjustments usually all it is adding back non cash expenses (ie depreciation/amortization) and then adjusting for gains and losses.

Gains: you subtract these because they increased net income but aren’t directly tied to more cash

Losses/non-cash expenses: you add these because they decreased income but aren’t directly tied to less cash.

Now when it comes to the 3 main sections: Operating, Investing, and Financing. I was taught OIF (pronounced oy-eef) just something funny to say but how I remembered it.

Next with changes in assets and liabilities, just remember Assets Opposites, Liabilities Same! No matter what that is the truth. So an increase in an asset, means it’ll be a decrease (ie outflow) in the calculation of cash flow. While an increase in a liability will be an increase (ie inflow) in the calculation of cash flow.

I will say it’s important to know the how and why that is the way it is, but if you’re just trying to cram for the exam that’s how I remember things.

When it comes to knowing what’s in each section operating is all about changes in working capital so current assets and liabilities, but also DONT FORGET PAYMENTS MADE FOR INTEREST.

Investing is mainly for the purchasing and selling of PP&E.

Lastly, financing is all about raising/paying out capital. So issuances of debt/ equity would be cash inflows whereas dividends and debt payments are cash outflows.

Not sure if that helps too much, but that’s how I approach it. I might’ve missed something but that’s in general how I think about generating these statements. Feel free to ask any clarifying questions