Posted: August 21st, 2015

Income statement and statement of cash flows

Income statement and statement of cash flows
Review the problems that organisations might encounter when using the income statement and statement of cash flows and then in a 825-100 word response, address the following issues/questions

Cash is the lifeblood of any business, and without it survival is very unlikely.

Do you agree or disagree? Explain what information a statement of cash flows provides to supplement that provided by a statement of financial position and an income statement. Why is there still some controversy surrounding published statements of cash flows? How important are such statements in terms of the financial reporting requirements within Canada?.
Base your answer on research, your readings and your experiences. Remember to correctly cite all references.

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