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Cash flow satement

kalaimani (audit assistant) (79 Points)

04 July 2012

Is cash flow satement is necessary to all companies?

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shankar (CA, CS Final) (243 Points)
Replied 04 July 2012

As per the ICAI guidlines AS - 3 "Cash Flow statement" is mandatory for Level - I enterprises.

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.

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RAMESH CHANDRA SHARMA (munka istentisztelet) (899 Points)
Replied 04 July 2012

Originally posted by : shankar
	As per the ICAI guidlines AS - 3 "Cash Flow statement" is mandatory for Level - I enterprises. 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.

AND ALSO APPLICABLE TO NON-SMC(SMALL AND MEDIUM SIZE COMPANY)

NON-SMC ARE THOSE COMPANIES WHICH DOES NOT FALL WITHIN THE DEFINITION OD SMCs(SMALL AND MEDIUM SIZE COMPANIES)...

*RENU SINGH * (✩ §m!ℓ!ñġ €ม€§ fℓม!ñġ ђ♪gђ✩ ) (21627 Points)
Replied 04 July 2012

agree with both...........

Banksnet Banking (software developer) (25 Points)
Replied 04 July 2012

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