AS 3 and NBFCs - urgent

Sivaraman A R (.) (1038 Points)

31 July 2011  

There is a Non-Deposit Accepting NBFC (Company).

Accounting Standard -3 Cash Flow Statement is applicable for Level 1 Enterprises only.

The company does not have the 50 crores turnover in the preceding Accounting period for applying AS3.

Is my NBFC  a "Financial Institution" for getting applied AS-3.

What is "Financial Institution"  for applying AS-3?