Only transactions having a direct effect on fund accounts were included in the statement of changes in financial position.

Name: Only transactions having a direct effect on fund accounts were included in the statement of changes in financial position.
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The statement of changes in financial position, also known as the cash flow statement, includes both direct effects on fund accounts (like cash transactions) and indirect effects (such as depreciation, changes in working capital items).

Only Transactions Having a Direct Effect on Fund Accounts Were