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What is the difference between Cashflow Statement Layout under UK GAAP & FRS102?

Article ID
ias-11797
Article Name
What is the difference between Cashflow Statement Layout under UK GAAP & FRS102?
Created Date
10th September 2014
Product
IRIS Accounts Production
Problem
What is the difference between the Cashflow Statement Layout for Accounts produced under UK GAAP and FRS102?
Resolution
Users are able to generate a set of Accounts using the new FRS102 format. This is mandatory for periods starting on or after 1st January 2015. Under UK GAAP the cash flow statement contains 9 categories whereas under FRS 102 there are only 3. Please see below the different categories: UK GAAP: 1. Cash flows from operating activity 2. Dividends from joint ventures and associates 3. Returns on investment and servicing of finance 4. Taxation 5. Capital expenditure and financial investment 6. Acquisitions and disposals 7. Equity dividends paid 8. Management of liquid resources 9. Financing An FRS 102 statement of Cashflow shows the movements on cash and cash equivalents. FRS 102: 1. Operating activities Operating activities includes the following headings from a UK GAAP Cashflow; Cashflows from operating activity, Dividends from joint ventures and associates, Returns on investment and servicing of finance and Taxation. 2. Investing activities Investing activities includes the following headings from a UK GAAP Cash flow; Capital expenditure and financial investment and Acquisitions and disposals. 3. Financing activities Financing activities include the following headings from a UK GAAP Cash flow; Equity dividends paid, Management of liquid resources and Financing. For further details regarding FRS 102 please visit the following website: https://frc.org.uk/ “IRIS strongly recommend attending our series of FRS seminars – please click on the following link for further details: New FRS 101 & 102 training courses

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