applicability of AS-3 cash flow????

This query is : Resolved 

20 July 2010

one public ltd company having turnover only 3.45 lac..

so AS-3 apply or not???

this company fall under LEVEL -I as per applicability of AS-3???


20 July 2010

You have not given the detailed information.
However you can check wheather your company is in level 1 or not.

Level I Enterprises

Enterprises which fall in any one or more of the following categories, at any time during the accounting period, are classified as Level I enterprises:

Enterprises whose equity or debt securities are listed whether in India or outside India.

Enterprises which are in the process of listing their equity or debt securities as evidenced by the board of directors' resolution in this regard.

Banks including co-operative banks.

Financial institutions.

Enterprises carrying on insurance business.

All commercial, industrial and business reporting enterprises, whose turnover for the immediately preceding accounting period on the basis of audited financial statements exceeds Rs. 50 crore. Turnover does not include 'other income'.

All commercial, industrial and business reporting enterprises having borrowings, including public deposits, in excess of Rs. 10 crore at any time during the accounting period.

Holding and subsidiary enterprises of any one of the above at any time during the accounting period.

Aditya Maheshwari (Expert)
20 July 2010

If is is falling under level 1 then Cash Flow as per AS - 3 is applicable to the company. If any of the conditions are fulfilled as stated above the AS - 3 applicable otherwise not.

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