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IFRS Statement of cash flows and Other details about IFRS

IFRS Statement of cash flows

IFRS Statement of cash flows: International Financial Reporting Standards (IFRS) is a set of accounting standards developed by an independent, not-for-profit organisation called the International Accounting Standards Board (IASB).

IFSR Provides global framework for should companies prepare and disclose their financial statements. All the general guidelines for preparation of financial statements are provided in IFRS.

IFRS provides international standards, having an international standard is very much important for the company. A single set of world wide standard will simply accounting procedure for a company to use one reporting language. Investors and auditors will also be provided with cohesive view of finance.

IFRS Statement of cash flows: Syllabus

Conceptual Foundations of Financial Statements.

  • The objective of financial reporting.
  • The main assumptions.
  • Qualitative characteristics of financial reporting.
  • Elements of Financial Statements: recognition and measurement.
  • Concepts of capital.

IFRS Statement of cash flows

  • Purpose and application of the standard. Concepts.
  • The structure of the Cash Flow Statement.
  • Classification of business operations with the objective of CFS.
  • Types of cash flow statement presentation.
  • A direct method for preparation of cash flow statement.
  • The indirect method cash flow statement preparation.
  • Identification of inflows and outflows of cash and cash equivalents provided by the bank’s operations.

IFRS Statement of cash flows: Contents

  1. Introduction to the requirements
  2. Requirements
  3. Scope of this Section
  4. Cash equivalents
  5. Information to be presented in the statement of cash flows
  6. Reporting cash flows from operating activities
  7. Reporting cash flows from investing and financing activities
  8. Foreign currency cash flows 21 Interest and dividends Income tax
  9.  Non-cash and cash transactions
  10. Components of cash and cash equivalents
  11.  Other disclosures

IFRS Statement of cash flows

This module, updated in January 2013, focuses on the requirements for the presentation of the statement of cash flows in accordance with Section 7 Statement of Cash Flows of the IFRS for SMEs that was issued in July 2009 and the related non-mandatory guidance subsequently provided by the IFRS Foundation SME Implementation Group.. Section 3 Financial Statement Presentation sets out general presentation requirements and Sections 4–8 focus on the requirements for presenting the individual statements that together comprise a complete set of financial statements.

This module introduces the learner to the subject, guides the learner through the official text, develops the learner’s understanding of the requirements through the use of examples and indicates significant judgements that are required in presenting a statement of cash flows. Furthermore, the module includes questions designed to test the learner’s knowledge of the requirements and case studies to develop the learner’s ability to present a statement of cash flows in accordance with the IFRS for SMEs.

IFRS Statement of cash flows: Learning objectives Upon successful completion of this module you should know the financial reporting requirements for the statement of cash flows in accordance with the IFRS for SMEs as issued in July 2009. Furthermore, through the completion of case studies that simulate aspects of the real-world application of that knowledge, you should have enhanced your competence to present the statement of cash flows in accordance with the IFRS for SMEs. In particular you should, in the context of the IFRS for SMEs:

  1. Know the purpose of the statement of cash flows.
  2. Understand the requirements for presenting this statement.
  3. Be able to distinguish cash equivalents from other financial assets.
  4. Be able to distinguish the cash flows from operating, investing and financing activities.
  5. Be able to prepare the statement of cash flows using both the indirect method and the direct method.
  6. Be able to prepare notes to financial statements and commentary by management in accordance with the requirements of Section 7 of the IFRS for SMEs.

IFRS Statement of cash flows: History

IFRS Statement of cash flows: Historical cash flows of an entity provides users of financial statements with a basis on which to assess the ability of the entity to generate cash and cash equivalents and the needs of the entity to utilise cash and cash equivalents. Economic decisions about the entity require an evaluation of an entity’s ability to generate cash and cash equivalents and the timing and certainty of their generation.

Historical cash flow information is also useful in examining the relationship between profitability and net cash flow. When used in conjunction with the rest of the financial statements, the statement of cash flows provides information that enables users to evaluate the changes in net assets of an entity, its financial structure (including its liquidity and solvency) and its ability to affect the amounts and timing of cash flows in order to adapt to changing circumstances and opportunities.

Cash flow information also enhances the comparability of the reporting of operating performance by different entities because it eliminates the effects of using different accounting treatments for the same transactions and events. In accordance with Section 7 an entity must present separately cash flows from its operating, investing and financing activities. It must also choose an accounting policy for presenting operating cash flows—either the indirect or the direct method. It also prescribes the requirements for presenting information about specified cash flows.

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IFRS IAS 7 "Statement of Cash Flows" (CCF)

IFRS IAS 7 “Statement of Cash Flows” (CCF)

IFRS Statement of cash flows:

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IFRS learning resources

IFRS learning resources

IFRS Statement of cash flows

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