Question 2A-ES03 In the Statements of Financial Accounting Concepts, the Financial Accounting Standards Board (FASB) set forth the fundamentals on which financial accounting and reporting standards are to be based. Specifically, the FASB intends that these concept statements establish objectives and concepts that can be used to develop standards for financial accounting and reporting, and to resolve new and emerging problems. Knowledge of the FASB objectives and concepts should enable those affected by financial accounting standards to better understand the content and limitations of the information provided by financial accounting and reporting. Statement of Financial Accounting Concepts No. 1 discusses the objectives of financial reporting by business enterprises, and Statement of Financial Accounting Concepts No. 5 recommends the composition of a full set of financial statements. Question Identify and describe the major sections of the Statement of Cash Flows