AS 3 - 55 Accounting Standard (AS) 3 (revised 1997) Cash...

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55 Accounting Standard (AS) 3 (revised 1997) Cash Flow Statements Contents OBJECTIVE SCOPE Paragraphs 1-2 BENEFITS OF CASH FLOW INFORMATION 3-4 DEFINITIONS 5-7 Cash and Cash Equivalents 6-7 PRESENTATION OF A CASH FLOW STATEMENT 8-17 Operating Activities 11-14 Investing Activities 15-16 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 25-27 EXTRAORDINARY ITEMS 28-29 INTEREST AND DIVIDENDS 30-33 TAXES ON INCOME 34-35 Continued. ./. .
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56 INVESTMENTS IN SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES 36 ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES AND OTHER BUSINESS UNITS 37-39 NON-CASH TRANSACTIONS 40-41 COMPONENTS OF CASH AND CASH EQUIVALENTS 42-44 OTHER DISCLOSURES 45-48 APPENDICES
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Accounting Standard (AS) 3* (revised 1997) Cash Flow Statements (This Accounting Standard includes paragraphs set in bold italic type and plain type, which have equal authority. Paragraphs in bold italic type indicate the main principles. This Accounting Standard should be read in the context of its objective and the Preface to the Statements of Accounting Standards 1 .) Accounting Standard (AS) 3, ‘Cas h Flow Statements (revised 1997), issued by the Council of the Institute of Chartered Accountants of India, comes into effect in respect of accounting periods commencing on or after 1-4-1997. This Standard supersedes Accounting Standard (AS) 3, ‘Changes in Financial Position’ , issued in June 1981. This Standard is mandatory in nature 2 in respect of accounting periods commencing on or after 1-4-2004 3 for the enterprises which fall in any one or more of the following categories, at any time during the accounting period: (i) Enterprises whose equity or debt securities are listed whether in India or outside India. * The Standard was originally issued in June 1981 and was titled ‘Changes in Financial Position’. 1 Attention is specifically drawn to paragraph 4.3 of the Preface, according to which Accounting Standards are intended to apply only to items which are material. 2 Reference may be made to the section titled ‘Announcements of the Council regarding status of various documents issued by the Institute of Chartered Accountants of India’ appearing at the beginning of this Compendium for a detailed discussion on the implications of the mandatory status of an accounting standard. 3 AS 3 was originally made mandatory in respect of accounting periods commencing on or after 1-4-2001, for the following: (i) Enterprises whose equity or debt securities are listed on a recognised stock exchange in India, and enterprises that are in the process of issuing equity or debt securities that will be listed on a recognised stock exchange in India as evidenced by the board of directors’ resolution in this regard.
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This note was uploaded on 12/07/2011 for the course MBA 0001 taught by Professor Akshat during the Spring '09 term at Institute of Management Technology.

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AS 3 - 55 Accounting Standard (AS) 3 (revised 1997) Cash...

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