Is a cash-flow statement more important than a profit and loss account to users of financial statements?
Depends what you are looking for in the financial statements. If a business posts a loss but has a good cash flow statement than it might just mean they need to trim some expenses, however they could be posting these losses because of long term liabilities that can’t be changed any time soon and then the cash flow means nothing. You should look at all the financial statements of a business and make an informed decision from a variety of sources.