Which element is not typically considered when recognizing cash flows from financing activities?

When recognizing cash flows from financing activities, the focus is primarily on transactions that involve the raising and repayment of funds to support the company's capital structure. Cash flows from financing activities typically include cash received from issuing equity or debt, cash paid to shareholders, and cash repayments of borrowings.

Cash received from associates is not usually classified under financing activities because it primarily reflects operational or investment cash flows rather than financing transactions. An investment in an associate is generally accounted for under the equity method, where transactions such as dividends received are reflected in operating activities rather than financing activities.

The other options fit well within the definition of cash flows from financing activities. Cash received from shareholders denotes inflows from equity financing, cash paid to non-controlling interests pertains to distributions that reduce financing sources, and cash generated from loans directly relates to borrowing, which also qualifies as a financing activity. Understanding this classification is key to accurately interpreting the cash flow statement's presentation of a company's financing activities.