Cash flow is an important predictor of investment. Namely, cash flow represents inflows and outflows of cash and cash equivalents. Corresponding receipts and expenditures are classified through three monetary activities: business, investment and financial. The cash flow statement is prepared through two methods: direct and indirect, which are explained in International Accounting Standard 7. The paper presents tables of how these two methods should look in practice. Various imperfections in the capital markets have led to business cycle fluctuations. Here, the three most significant crises of 20th and 21th centuries are primarily implied: two that have marked history, and a third that continues to this day. The first, and probably the worst, began in 1929 and lasted until 1933 and is called the Great Depression. The second was caused in 2008 by the financial sector crisis. The third major financial crisis was caused by the global COVID-19 pandemic, which not only affected the health sector and endangered human lives, but also threatens much greater socio-economic consequences in the future. The paper presents various economic consequences of the pandemic by sectors and describes the effect on Croatia's gross domestic product (GDP).