Abstract
The Financial Accounting Standards Board has introduced a new standard for reporting cash flows. The standard reduces the number choices that accountants have in defining funds and selecting report formats. The new standard represents an improvement of previous cash flow reporting requirements, but still has several shortcomings, including the inability to assess liquidity, impaired comparability, lack of timeliness, and lack of segment reporting. Proposals to improve statements of cash flows are discussed that would improve the timeliness of cash flow statements and disclose segmented information more accurately.