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of <h1>AS 3 Guides Cash Flow Statements: Categorizes Flows, Enhances Financial Transparency, Not Mandatory for SMEs, Encouraged for Use</h1> Accounting Standard (AS) 3 outlines the principles for preparing cash flow statements, which provide insights into a company's cash generation and usage. It categorizes cash flows into operating, investing, and financing activities, aiding users in assessing an enterprise's financial health. The standard is not mandatory for small and medium-sized companies but is encouraged. It emphasizes the importance of cash flow information for evaluating changes in net assets, financial structure, and liquidity. The standard also provides guidance on reporting foreign currency cash flows, extraordinary items, interest, dividends, taxes, and non-cash transactions, enhancing comparability and transparency in financial reporting.
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