Compare and contrast the income statement and statement of cash flows

Compare and contrast the income statement and statement of cash flows

Compare and contrast the income statement and statement of cash flows. Why are both required?

Support your statements with evidence from the required studies and your research.

…………………Answer Preview………………..

Similarities

The statement of income and the statement of cash flow are two distinct statements. They are however intertwined in their operations at some level. The section of operating activities from a statement of cash flow utilizes information derived from the income statement. The statement of income is prepared before the statement of cash flow and it can be stated that the statement of cash flow is a continuation of the statement of income. The similarity between……………….

APA

344 Words