Under AS 3, Bank overdraft is considered as financing activities
whereas under Ind AS 7, bank overdraft is included as cash and cash equivalents
if they form part of an entity’s cash management.
Under AS 3, cash flows from extraordinary items are disclosed
separately and it can be from operating, investing or financing activities
whereas under Ind AS 7, the concept of extraordinary does not exist. The cash
flow statement does not reflect any items of cash flow as extraordinary.
Under AS 3, there is no specific guidance available for cash flows
related to changes in ownership interest whereas, under Ind AS 7 cash flows
related to changes in ownership interest without loss of control is classified
as financing activities.
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