On Nov. 25, EFRAG issued discussion paper relating to IAS 7 issues.
EFRAG issued IAS 7 statement of cash flows discussion paper and invited comments.
Follows EFRAG Apr. 2023, began financial statements research project, see #169107.
Objectives
Explores perceived statement of cash flows issues prepared in accordance with IAS 7.
As these depend on how statement of cash flows is used, the paper initially considers its objectives and input collected usage by primary users of financial statements.
Considers which objectives could be impacted by each issue/which might be affected by solutions addressing each; questions its relevance for financial institutions and provides a list of alternatives/supplements that could be considered for these entities.
Finally, the paper also discusses whether the issues identified could be best addressed through either targeted improvements or a comprehensive review of IAS 7.
