RG

IN CONTEXT

FOCUS

Financial management

KEY DATES

1957 John Meyer and Ed Kuh publish “The Investment Decision,” the first study to look at cash flow and investment in businesses.

1987 The US Financial Accounting Standard Board (FASB) introduces a new requirement: companies must now complete an annual “statement of cash flows” in addition to a balance sheet, income statement, and retained earnings statement.

2013 The UK’s Co-operative Bank abandons its plans to purchase 632 branches of Lloyds Bank, because it has insufficient cash to buy the business and run the branches.

For new businesses, fast-growing companies, and in times of recession, cash is king. ...

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