Under IFRS the cash flow statement can be prepared using
A) the direct method only.
B) the indirect method only.
C) either the direct or indirect method.
D) the T-account method only.

Question

Quizplus · Accepted Answer

Under IFRS, the cash flow statement can be prepared using either the direct or indirect method. The direct method provides a more detailed presentation of the sources and uses of cash, while the indirect method reconciles net income to net cash provided by operating activities. The T-account method is not a recognized method for preparing the cash flow statement under IFRS.

Under IFRS the Cash Flow Statement Can Be Prepared Using