In previous years, Easycash Ltd presented its cashflow statement using the 'indirect method' however in the current year the CEO has requested that the 'direct method' be used.

esponse to the CEO discussing whether this is a change in an accounting policy referring to the relevant Australian accounting standards. Outline the disclosures that would be required with a change in an accounting policy and discuss the differences between the two methods, and if one method is considered more useful than the other method.

Your response should be referenced where appropriate .