ABSTRACT
Approximately 50 writings have been read as preparation for this essay. Three-quarters of them were U.K.-based, and in excess of one-half could be attributed to two U.K. writers—Professors Lawson and Lee. Further-more, three-quarters of the writings were published in the 1970s. Thus, the subject of cash flow accounting (CFA) is a relatively new one, not attracting many writers to its cause, and being of mainly U.K. interest (at least within the context of corporate financial reporting). However, despite this lack of apparent support in the literature, CFA remains potentially as a serious and viable addition to the corporate financial reporting function, and it is the aim of this essay to review it in order to assess its importance in this context. Inevitably, because of the volume of their contribution to CFA, the work of Lawson and Lee will form the substance of this review. But the work of other accountants will be examined, and a full bibliography is given at the end of the essay.
