The income statement shows the difference between a firm's income and its costs-i.e., its profits-during a specified period of time. However not all reported income comes in the form of cash, and likewise with not be consistent with cash outlays. Therefore, there may be a substantial difference between a firm's reported profits and its actual cash flow for the same period. True False Two metrics that are used to measure a company's financial performance are net income and cash flow. Accountants emphasize net income as calculated in accordance with generally accepted accounting principles. Finance people generally put at much weight on cash as they do on net income. True False The income statement shows the difference between a firm's income and its costs-i.e., its profits-during a specified period of time. However not all reported income comes in the form of cash, and likewise with not be consistent with cash outlays. Therefore, there may be a substantial difference between a firm's reported profits and its actual cash flow for the same period. True False Two metrics that are used to measure a company's financial performance are net income and cash flow. Accountants emphasize net income as calculated in accordance with generally accepted accounting principles. Finance people generally put at much weight on cash as they do on net income. True False