samkit kothari
asked
REQUIREMENT OF CASH FLOW STATEMENT AS PER COMPANIES ACT 2013
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rohit agarwal commented
about 5 years ago
Hi Samkit, Kindly elaborate your query. As in what is your exact requirement??
rashmi commented
about 5 years ago
cash flow statement is mandatory for co's but not applicable to co's which crossed the turnover of 50laks and to one person co, small and medium industries.
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veeru
answered
(i) a balance sheet as at the end of the financial year;
(ii) a profit and loss account, or in the case of a company carrying on any activity not for profit, an income and expenditure account for the financial year;
(iii) cash flow statement for the financial year;
(iv) a statement of changes in equity, if applicable
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narahari
answered
As per the defintion of financial statement as defined in Companies Act 2013-
“financial statement” in relation to a company, includes—
(i) a balance sheet as at the end of the financial year;
(ii) a profit and loss account, or in the case of a company carrying on any activity not for profit, an income and expenditure account for the financial year;
(iii) cash flow statement for the financial year;
(iv) a statement of changes in equity, if applicable; and
(v) any explanatory note annexed to, or forming part of, any document referred to in sub-clause (i) to sub-clause (iv):
rohit awasthi
answered
Dear Samkit
CFS is a mandatory statement include in financial statement as per company act 2013. Earlier, The Company act 1956 didn’t include cash flow statement in the Definition of Financial statement.
But The financial statement, with respect to One Person Company, small company and dormant company, may not include the cash flow statement.
Since no format is prescribed in Schedule III to the Company act, 2013, the cash flow statement shall be prepared in the format prescribed in the AS-3 –Cash Flow Statement only.
Thanks
rohit agarwal
answered
Hi Samkit,
So far as query is concerned with regard REQUIREMENT OF CASH FLOW STATEMENT AS PER COMPANIES ACT 2013
Kindly elaborate your query. As in what is your exact requirement??
Kindly note:
As per the defintion of financial statement as defined in Companies Act 2013-
“financial statement” in relation to a company, includes—
(i) a balance sheet as at the end of the financial year;
(ii) a profit and loss account, or in the case of a company carrying on any activity not for profit, an income and expenditure account for the financial year;
(iii) cash flow statement for the financial year;
(iv) a statement of changes in equity, if applicable; and
(v) any explanatory note annexed to, or forming part of, any document referred to in sub-clause (i) to sub-clause (iv):
Provided that the financial statement, with respect to One Person Company, small company and dormant company, may not include the cash flow statement;
This means that now all the Companies whether listed or unlisted, public or private (except One Person Company, small company and dormant company) are required to prepare cash flow statement, whether or not they were preparing cash flow statement in prior financial years.
Further, also note unlike format for balance sheet and Statement of Profit and Loss - Schedule III to theCompanies Act 2013 does not prescribe any format for Cash Flow Statement.
Thanks & Regards,
