Question: Why do managers worry about the income statement, outside analysts and bankers about the balance sheet, while W.Buffett looks at the cash flow statement? Why

  1. Why do managers worry about the income statement, outside analysts and bankers about the balance sheet, while W.Buffett looks at the cash flow statement?
  2. Why are profits and cash different? Explain with an example.
  3. What is reconciliation?

(100 words each question, 300 words in total)

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