The traditional statement of comprehensive income in published accounts should be replaced (or at least supplemented) by

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‘The traditional statement of comprehensive income in published accounts should be replaced

(or at least supplemented) by a cash flow statement.’

(a) Explain what you understand by such a cash flow statement.

(b) Explain the basis on which the above view can be justified, and state any drawbacks of disclosing cash flow information.

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Financial Accounting And Reporting

ISBN: 9780273730040

13th Edition

Authors: Barry Elliott, Jamie Elliott

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Question Posted: Jun 04, 2024 01:12 AM

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The traditional statement of comprehensive income in published accounts should be replaced (or at least supplemented) by

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Financial Accounting And Reporting

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