According to SFAC No. 1, financial statements should provide information that is useful for investors decision making. Paragraph 37 of SFAC No. 1 states that financial reporting should provide information to help users access the amounts, timing and uncertainty of prospective cash flows. Paragraph 43 of SFAC No. 1 states that the primary focus of financial reporting is providing information about an enterprises performance based on measures of earnings and earnings components.

Present arguments that the income statement, not the statement of cash flow, is the most important financial statement to prospective investors.