One area of difference between GAAP and IFRS cash flow reporting is the

A) treatment of losses on sale of equipment
B) general categories required for various types of cash flows
C) use of the direct or indirect method of reporting operating cash flows
D) allowed classifications of dividend and interest paid or received

GAAP

Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting used in any given jurisdiction.

IFRS

International Financial Reporting Standards, a set of accounting rules and standards that define how transactions and other accounting events should be reported in financial statements. They are designed to be globally consistent to enhance international comparability and quality of financial statements.

Cash Flow Reporting

A financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents, breaking the analysis down to operating, investing, and financing activities.