Walter (1987)claimed that 'one of the strongest antidotes to creative accounting is a requirement for statement of cash flows to have '.
A) previous year comparisons
B) disclosures
C) details of transactions
D) details of key accounts

Question

Quizplus · Accepted Answer

Walter claimed that disclosures in statement of cash flows can act as a strong antidote to creative accounting. The disclosures can provide transparency and clarity about the company's cash flow and prevent manipulation in financial reporting. Previous year comparisons, details of transactions, and details of key accounts are also important components of the statement of cash flows, but they may not necessarily act as strong antidotes to creative accounting.

Walter (1987)claimed That 'One of the Strongest Antidotes to Creative