What about the cash flow statement IAS 7

The objective of IAS 7 Statement of Cash Flows is to require the provision of information about the historical changes in cash and cash equivalents of an entity by means of a statement of cash flows.

The statement of cash flows forms part of a complete set of financial statements. 

IAS 7 deals with the format and presentation of the statement of cash flows, which is meant to show the movement in both cash and cash equivalents of the entity over the reporting period. Information about the cash flows of an entity is considered useful in providing users of financial statements with a basis to assess both the:

1. ability of the entity to generate cash flows
2. needs of the entity to utilise those cash flows.

How do we do it?

Entities can report cash flows from operating activities using either: 

1. the direct method, whereby major classes of gross cash receipts and gross cash payments are disclosed, or
2. the indirect method, whereby profit or loss is adjusted for:
   1. the effects of transactions of a non-cash nature
   2. any deferrals or accruals of past or future operating cash receipts or payments, and
   3. items of income or expense associated with investing or financing cash flows.

Who cares?

You, as our systems are set to "direct method". 

Others?...........likely that they don't care.