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Disclosure initiative - IAS 7

Posted by Stephanie Kemp on 5 March 2015

Improved disclosure of financing activities and liquidity to support the statement of cash flows is a welcome development, as we said in our submission to the AASB and IASB on Australian ED 258 Disclosure Initiative (Proposed amendments to AASB 107), which incorporates the IASB's ED/2014/6 Disclosure Initiative (Proposed amendments to IAS 7).

The increased reconciliation requirements would highlight non-cash movements in debt balances, but unfortunately, the proposed disclosures do not extend to circumstances where entities in the financial sector treat their borrowings as operating rather than financing activities.  We suggest that they should.

Author:Stephanie Kemp
Tags:NewsCash flowsReporting

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