Question: Consider the following statement: It is irrelevant to consider the effects of consolidation on the statement of cash flows for three reasons: The consolidated balance

Consider the following statement: It is irrelevant to consider the effects of consolidation on the statement of cash flows for three reasons: The consolidated balance sheet already accounts for cash consolidations. Consolidating procedures wash out the effect of cash on consolidating transactions anyway. Investors dont actually use the statement of cash flows in decision-making. Instead, they focus on the income statement and balance sheet.

Do you agree that the consideration of consolidations on the statement of cash flows is irrelevant? Why or why not

? Which of the mistakes and errors listed in the article Three Common Currency Adjustment Pitfalls are relevant to investors who might be reading a consolidated statement of cash flows?

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