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ASCA Conducts Training Course on “International Accounting Standard” for Industrial Bank of Iraq Employees
07-Apr-2025
AMMAN – The Arab Society for Certified Accountants (ASCA) conducted a training course on IAS 7 – Statement of Cash Flows, for cadres of the Industrial Bank of Iraq, aiming to familiarize them with the key concepts of the Standard.
During the course, participants were introduced to the following:
1. The main objectives of IAS 7, Statement of Cash Flows.
2. Scope of IAS 7, Statement of Cash Flows.
3. Overview of the two accepted methods for presenting the statement of cash flow in IAS 7.
4. How to present statements of cash flow for financial institutions.
5. How to present statements of cash flow in foreign currencies.
6. Definition of cash equivalents and the criteria for classifying an item as a cash equivalent.
7. How to process non-cash transactions in preparing the statement of cash flows.
8. Presentation of the disclosures required by IAS 7, Statement of Cash Flows.