One of the three objectives of financial reporting established by the FASB is to provide information useful in assessing cash flow prospects.

Question

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One of the main objectives of financial reporting established by the Financial Accounting Standards Board (FASB) is to provide information that is useful in assessing the company's cash flow prospects. This is achieved through the statement of cash flows, which reports the cash inflows and outflows during a specific period. The other two objectives of financial reporting are to provide information that is useful in making investment and credit decisions, and to provide information about the company's economic resources, obligations, and equity.

One of the Three Objectives of Financial Reporting Established by the FASB