When the statement of cash flows is prepared in conformity with IFRS there is only one acceptable way to measure and report cash flows from operating activities.

Question

Quizplus · Accepted Answer

Unlike US GAAP, IFRS provides two methods for reporting cash flows from operating activities: the direct method and the indirect method. While the direct method is preferred, the indirect method is also acceptable.

When the Statement of Cash Flows Is Prepared in Conformity