Archive | Financial Statement

Cash Flow Statement: Problems and Solutions | India | Accounting

Here is a compilation of top three problems on cash flow statement with its relevant solution. Problem 1: Given below are Balance Sheets of Calcutta Jute Ltd. as at 31 -3-02 and 31-3-01. You are required to prepare Cash Flow Statement for the year 2001-02. Other Information: (1) Fixed assets costing Rs.1, 20,000, accumulated depreciation […]

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 […]

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