Cash flow requirement

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Querist : Anonymous

Querist : Anonymous (Querist)

04 July 2013 which company is required to prepare cash flow statement?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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04 July 2013 AS-3 (cash flow statement) is mandatory to those companies-
a) whose equity/debt securities are listed/ proposed to be listed.
b) who are banks/FI or insurance company.
c) having turnover > Rs. 50 crores
d) having borrowings > Rs. 10 Crores.
e) that are holding / subsidiary companies of those companies covered in clause (a) to (d)herein above.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 July 2013 Under section 211(3C) of companies act, every company is required to comply with Accounting Standards.

AS 3 requires CFS to be prepared by 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:

1) Enterprises whose equity or debt securities are listed whether in India or outside India.
2) Enterprises which are in the process of listing their equity or debt securities as evidenced by the board of directors' resolution in this regard.
3) Banks including co-operative banks.
4) Financial institutions.
5) Enterprises carrying on insurance business.
6) 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'.
7) 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.
8) Holding and subsidiary enterprises of any one of the above at any time during the accounting period.

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Querist : Anonymous

Querist : Anonymous (Querist)

01 October 2013 Thank sir
as per my view as 3 says that non corporate entity level 1 apply
for corporate entity all as will apply
so please give more detail