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Later, in 1971 APB issued APB 19 replacing the current APB 3 which required
the company to report “Statement of changes in Financial Position” as a
primary
financial
statement
which
also required
auditor’s
opinion
on
the
financial
statement
(KInzele
1990).
Due
to
the
massive
number
of
advocates
are using the cash flow statement, the new “Concepts Statement 5” was issued
in 1984 which announced that statement of cash flow should reflect the entity
cash payment (classified based on its uses) and cash receipts (classified by
major sources) and should be
included
in the entity primary
financial statement
(Kinzale 1990).
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