Archive | Financial Statement

Preparation of Financial State­ments | Company

The latest regulations regarding preparation of financial state­ments issued by IRDA are: 1. Cash Flow Statement (Common for All Insurers): Insurers will in addition to the earlier statutory and subsidiary books of accounts and statements, will have to prepare a receipts and payments account (cash flow statement). This statement must be prepared in accordance with […]

Preparation of Financial Statements | Insurance Business

The following are some of the basic provisions for preparation of financial statements of insurance business:  Application of Accounting Standards: Every Balance Sheet, Receipts and Payments Account [Cash Flow Statement] and Profit and Loss Account [Shareholders’ Account] of the insurer shall be in conformity with the Accounting Standards (AS) issued by the ICAI, to the […]

Classification of Cash Flow Statement | Accounting

A cash flow statement aims to determine the effects of cash of different type of cash inflows and outflows. In this process, all cash flows are classified into three categories:- 1. Cash flows from Operating Activities 2. Cash flows from Investing Activities 3. Cash flows from Financing Activities. 1. Cash Flows from Operating Activities: The […]

shopify traffic stats