Disclosure Initiative (Amendments to IAS 7)

The IASB has issued 'Disclosure Initiative (Amendments to IAS 7)' which makes narrow-scope amendments to IAS 7, Statement of Cash Flows (the Amendments).

The purpose of the Amendments is to improve disclosures about an entity's financing activities and changes in related liabilities.

The Amendments are effective for annual periods beginning on or after 1 January 2017. Earlier application is permitted.  

See attached Accounting Alert for the details of this development.

Questions about this communication should be referred to Mabel Comedia or Jerald Sanchez.