But the critics can take comfort from the fact that the ASB yesterday admitted it may not be right all the time. It is reviewing the standard on cash-flow statements, the first it issued, and is prepared to make changes if comments from companies and users justify it.
Changes are likely. While the standard is a great improvement on the old funds-flow statement, it still requires effort and expert knowledge to unravel the key figures. Amending the presentation and other aspects - notably the meaningless analysis of the movement on short-term investments, or the arbitrary distinction between cash and cash equivalents - can only improve that.Reuse content