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21 January, 04:36

Mark Paxson maintains that the statement of cash flows is an optional financial statement. Do you agree? Explain.

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  1. 21 January, 04:59
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    I Disagree

    Explanation:

    The statement of cash flows is of extreme importance for a company and its stakeholders (especially investors). It shows how activities affecting the balance sheet and the financial statement also affect cash and cash equivalents, and while it is true that the balance sheet has an account under that name, it does not provide enough detail.

    The statement of cash flows on the other hand details how much cash the company gets from financing, operating, and investing activities, and from this information, a potential investor can make crucial analysis when determining whether to invest or not.
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