IAS07_06 - IAS 7 © IASCF 763 International Accounting...

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Unformatted text preview: IAS 7 © IASCF 763 International Accounting Standard 7 Cash Flow Statements This version includes amendments resulting from new and amended IFRSs issued up to 31 December 2005. IAS 7 764 © IASCF C ONTENTS paragraphs INTERNATIONAL ACCOUNTING STANDARD 7 CASH FLOW STATEMENTS OBJECTIVE SCOPE 1–3 BENEFITS OF CASH FLOW INFORMATION 4–5 DEFINITIONS 6–9 Cash and cash equivalents 7–9 PRESENTATION OF A CASH FLOW STATEMENT 10–17 Operating activities 13–15 Investing activities 16 Financing activities 17 REPORTING CASH FLOWS FROM OPERATING ACTIVITIES 18–20 REPORTING CASH FLOWS FROM INVESTING AND FINANCING ACTIVITIES 21 REPORTING CASH FLOWS ON A NET BASIS 22–24 FOREIGN CURRENCY CASH FLOWS 25–28 INTEREST AND DIVIDENDS 31–34 TAXES ON INCOME 35–36 INVESTMENTS IN SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES 37–38 ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES AND OTHER BUSINESS UNITS 39–42 NON-CASH TRANSACTIONS 43–44 COMPONENTS OF CASH AND CASH EQUIVALENTS 45–47 OTHER DISCLOSURES 48–52 EFFECTIVE DATE 53 APPENDICES A Cash flow statement for an entity other than a financial institution B Cash flow statement for a financial institution IAS 7 © IASCF 765 International Accounting Standard 7 Cash Flow Statements (IAS 7) is set out in paragraphs 1–53. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB. IAS 7 should be read in the context of its objective, the Preface to International Financial Reporting Standards and the Framework for the Preparation and Presentation of Financial Statements . IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance. IAS 7 766 © IASCF International Accounting Standard 7 Cash Flow Statements Objective Information about the cash flows of an entity is useful in providing users of financial statements with a basis to assess the ability of the entity to generate cash and cash equivalents and the needs of the entity to utilise those cash flows. The economic decisions that are taken by users require an evaluation of the ability of an entity to generate cash and cash equivalents and the timing and certainty of their generation. The objective of this Standard is to require the provision of information about the historical changes in cash and cash equivalents of an entity by means of a cash flow statement which classifies cash flows during the period from operating, investing and financing activities. Scope 1 An entity shall prepare a cash flow statement in accordance with the requirements of this Standard and shall present it as an integral part of its financial statements for each period for which financial statements are presented....
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This note was uploaded on 06/12/2011 for the course ECON 801 taught by Professor Brend during the Summer '11 term at Abu Dhabi University.

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IAS07_06 - IAS 7 © IASCF 763 International Accounting...

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