A post AASB 1026 analysis of cash flows

Parker, Shelley. (1997). A post AASB 1026 analysis of cash flows Honours Thesis, School of Business, The University of Queensland.

       
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Author Parker, Shelley.
Thesis Title A post AASB 1026 analysis of cash flows
School, Centre or Institute School of Business
Institution The University of Queensland
Publication date 1997
Thesis type Honours Thesis
Total pages 92
Language eng
Subjects 14 Economics
Formatted abstract This thesis presents an empirical investigation of the extent to which the components of cash flows and earnings individually and collectively explain firm performance over increasing measurement intervals. The motivation behind this research derives from the introduction of AASB 1026 Statement of Cash Flows in 1992, which replaced AASB 1007 Statement of Sources and Application of Funds. There has been no empirical investigation to determine whether, as stated in SAC 2, cash flow statements are useful to users in making and evaluating decisions about the allocation of scarce resources, nor whether cash flow statements are more useful in evaluating firm performance than the funds flow statement. Previous related studies used proxies for the components of cash flows which recent evidence from Austin and Bradbury, (1995) demonstrate are noisy and imprecise. This thesis overcomes this inadequacy by using actual cash flow figures as reported in the companies annual report. The results of this thesis suggest that, after controlling for systematic risk factors, cash flows do provide information valuable to investors for evaluating firm performance. In particular, cash flow components have high explanatory power in short measurement intervals.

 
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