7 ASC 230 STATEMENT OF CASH FLOWS
PERSPECTIVE AND ISSUES
ASC 230, Statement of Cash Flows, contains one subtopic:
- ASC 230-10 Overall, that establishes standards for cash flow reporting in general purpose financial statements.
Scope and Scope Exceptions
A statement of cash flows is a required part of a complete set of financial statements for business enterprises and not-for-profit organizations. Only defined benefit plans, certain other employee benefit plans, and highly liquid investment companies that meet specified conditions are not required to present the statement. (ASC 230-10-15)
The primary purpose of the statement of cash flows is to provide information about cash receipts and cash payments of an entity during a period. A secondary purpose is ...