A reconciliation of profit or loss and cash flows is required using either the direct or indirect method of disclosing cash flows from operations.

Question

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It is a requirement under International Accounting Standard (IAS) 7, Statement of Cash Flows, to provide a reconciliation of profit or loss and cash flows through the operating activities section of the statement of cash flows using either the direct or indirect method.

A Reconciliation of Profit or Loss and Cash Flows Is