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Outline required with a change in an accounting policy

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Reference no: EM132570855

In previous years, Easycash Ltd presented its cashflow statement using the 'indirect method' however in the current year the CEO has requested that the 'direct method' be used.

Question 1: Response to the CEO discussing whether this is a change in an accounting policy referring to the relevant Australian accounting standards. Outline the disclosures that would be required with a change in an accounting policy and discuss the differences between the two methods, and if one method is considered more useful than the other method.

Reference no: EM132570855

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