Cashflow Direct Indirect Method

What are the differences between the direct and indirect presentation of cash flows? Why does the Financial Accounting Standards Board (FASB) allow both methods? Which does FASB prefer? Which do you prefer? Explain why.What are the differences between the direct and indirect presentation of cash flows? Why does the Financial Accounting Standards Board (FASB) allow both methods? Which does FASB prefer? Which do you prefer? Explain why.