Question: IAS 7 describes two methods of preparing cash flow statement, Explain each of them with suitable example. The following transactions relates to Anas Sports

IAS 7 describes two methods of preparing cash flow statement, Explain each

IAS 7 describes two methods of preparing cash flow statement, Explain each of them with suitable example. The following transactions relates to Anas Sports for the year ended on December 31 2019. You are required to show the transactions in statement cash flows. Disposal of fixed assets Purchase of fixed assets Loan from bank Loan repaid to bank Rs. 50,000 Rs. 250,000 Rs. 500,000 Rs. 200,000

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IAS 7 International Accounting Standard 7 provides guidance on two methods of preparing the cash flow statement the direct method and the indirect met... View full answer

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