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Cash flow statement

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(Querist)
18 April 2009 are level 2 and level 3 companies exempted from preparing the cash flow statement as part of the accounts?
Since AS-3 is applicable only to level 1 enterprises no?
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
18 April 2009 Yes
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
18 April 2009 AS-3 applies to level-1 entities
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Max Payne

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Max Payne (Querist)
18 April 2009 but AS3 has been prescribed for all companies by NACAS no?
so does it mean that there is still no need to make the CFS since it is not a level 1 enterprise?
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
21 April 2009 its prescribed but not mandatory
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Max Payne

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Max Payne (Querist)
22 April 2009 ok thanks
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