Cash flow statements: An international comparison of regulatory positions

• Published in: The International Journal of Accounting Vol. 32; no. 1; pp. 1 - 22
• Main Authors: Wallace, R.S.Olusegun, Choudhury, Mohammed S.I., Pendlebury, Maurice
• Format: Journal Article
• Language: English
• Published: London Elsevier Inc 1997; Elsevier; London :Springer International; World Scientific Publishing Co. Pte., Ltd
• Series: The International Journal of Accounting
• Subjects: Accounting standards; Accounting standards on cash flow statements; Cash flow; Cash flow forecasting; Cash flow reporting; Cash flow statements; Comparative analysis; Cross-national accounting comparison; Financial statements; International accounting diversity; International accounting standards; International Accounting Standards Committee Statements; Studies; New Zealand; Canada; United Kingdom > UK; Australia; United States > US; Cross-national accounting comparison; Accounting standards on cash flow statements; International accounting diversity; Cash flow reporting
• ISSN: 1094-4060; 0020-7063; 2213-3933
• DOI: 10.1016/S0020-7063(97)90002-9

Our paper compares the standard documents on cash flow statements (CFSs) from five nations and the IASC. We report on substantial differences among the standard setting bodies from the five nations and the IASC on the one hand and their constituents on the other. There are variations in regulatory postures on almost every aspect of the cash flow statement (CFS). We identify different ways of categorizing cash flows, alternative formats for presenting cash flows from operating activities among others but do not make personal choices because we do not seek to play the role of standard setters. We conclude that the quest for international harmonization of reporting practices cannot be easy.