Which of the following statements is false?

(a) Publicly held companies may choose to prepare either a statement of cash flows or a statement of changes in financial position.

(b) The statement of cash flows was mandated by the FASB in the late 1980s.

(c) Understanding how to prepare a statement of cash flows helps the analyst to better understand and analyze the cash flow statement.

(d) The statement of cash flows is prepared by calculating changes in all balance sheet accounts.