Change in method of preparing Cash flow statement

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student
37 Points Posted on 24 November 2023

Is it possible to change the method of preparing cash flow statement from indirect method to direct method as per AS 3? If so, any specify disclosure in notes to accounts is required as per the standard?

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On 24 November 2023 at 20:57 Report
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This discussion explores the feasibility of changing the cash flow statement preparation method from indirect to direct under AS 3. It confirms that such a change is possible, but requires specific disclosures in the notes to accounts, aligning with standards for prior period changes and general policy updates. The direct method is highlighted as mandatory under AS 3.

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Finance
4592 Points Posted on 25 November 2023

Yes disclosures from prior period changes standard is necessary. All policy changes must be disclosed

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On 25 November 2023 at 07:56
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Profession
28254 Points Posted on 26 November 2023
Cash flow statement is a mandatory direct method as per as3
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On 26 November 2023 at 17:09

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