Cash flow statements

Mike Davies, Ron Paterson and Allister Wilson
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Mike Davies: Ernst & Young
Ron Paterson: Ernst & Young
Allister Wilson: Ernst & Young

Chapter Chapter 23 in UK Gaap, 1992, pp 1203-1267 from Palgrave Macmillan

Abstract: Abstract There are only two types of financial statement: a statement which reports stocks of resources and claims against them at a single point in time (e.g. a balance sheet); and a statement which reports flows of resources (e.g. a profit and loss account). The gradual shift in emphasis in external financial reporting from the balance sheet to the profit and loss account highlighted the fact that the profit and loss account was not able to reflect the full resource flow activities of a business enterprise. Because it is only concerned with resource flows that are part of the earnings activity, the profit and loss account fails to distinguish between the different types of resources consumed in the earnings activity; nor does it report changes in resources resulting from the business’s investing or financing activities.1

Keywords: Cash Flow; Fund Statement; Fixed Asset; Cash Payment; Operating Profit (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12998-0_23

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DOI: 10.1007/978-1-349-12998-0_23

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