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IFRS Statement of Cash Flow |
GAAP Statement of Cash Flow |
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Required for most entities, but limited exemptions exist
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Required for all reporting entities |
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Direct and indirect methods for operating cash flows permitted, direct is urged but rarely seen
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Direct and indirect methods for operating cash flows permitted |
| Interest paid and dividends received must be classified as operating cash flows, and dividends paid must be classified as financing cash flows |
Choice allowed in classifying:
1. Dividends and interest paid or received as operating cash flows, or
2. Interest or dividends paid as financing cash flows and interest or dividends received as investing cash flows
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Overdrafts cannot be included in cash (show as financing source of cash)
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Overdrafts can be included in cash under de-fined conditions |
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Reconsideration of cash flow reporting will occur in later stage of financial reporting joint project with IASB
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Reconsideration of cash flow reporting will occur in later stage of financial reporting joint project with FASB |
