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Article: FASB requires cash flow statement. (Financial Accounting Standards Board)
- Article from:
- PR Newswire
- Article date:
- November 19, 1987
CopyrightCOPYRIGHT 1987 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FASB REQUIRES CASH FLOW STATEMENT
STAMFORD, Conn., Nov. 19 /PRNewswire/ -- A standard issued today by the Financial Accounting Standards Board requires that a cash flow statement be included as part of a full set of financial statements. The cash flow statement replaces the statement of changes in financial position. The new standard, FASB Statement 95, "Statement of Cash Flows," applies to all business enterprises.
Statement 95 requires that cash receipts and payments shown in the cash flow statement be classified according to whether they stem from operating, investing, or financing activities. Those categories are defined in the Statement. ...