The Handbook to IFRS Transition and to IFRS U.S. GAAP Dual Reporting

5.2 CONTEXT OF THE STATEMENT OF CASH FLOWS

5.2.1 Title of Statement

The U.S. Concepts use the statement of cash flows, cash flow statement, and statement of changes in financial position titles.1 However, the U.S. Concepts also use changes in financial position as a general concept, with no reference to a specific statement.2 Most U.S. GAAP literature and SEC guidance use the title statement of cash flows. FASB Statement No. 95 amended other pronouncements to rename statement of changes in financial position as statement of cash flows and changes in financial position into cash flows.3 The FASB Accounting Codification has eliminated the remaining use of the term cash flow statement in some U.S. GAAP pronouncements Some SEC literature4 still adopts the terms cash flow statement and changes in financial position.5 However, some SEC guidance sometimes uses the expression changes in financial position in lieu of changes in equity.6

The superseded IASB Framework used, and the IASB version of the new common conceptual framework continues to refer to the statement of cash flows as the statement relating to changes in financial position. However, the IASB Framework uses that title as a general heading to include either a statement of cash flows or a statement of funds flows.7 IFRSs have long been using the expression cash flow statement. IAS 1 recently changed this title to statement of cash flows.8

Planning Point: Entities reporting under IFRSs may use other titles for the statement ...