STION 4 IAS 7 would prefer enterprises to use the direct method of presenting cash flow statement. However, almost all enterprises use the indirect method of presentation. Why do the accounting standard and most companies appear to differ on this issue? 2 marks Cash flow statements are valuable source of information. However, there are certain important non-cash transactions that may occur during the year which will not be reported in a cash flow statement. Give any four (4) of such transactions. 4 marks