IAS 7 at a glance
Insights into IAS 7IAS 7 sets out the requirements for presenting statements of cash flows. This article provides an overview of its objective, scope and key requirements.
This publication is designed to give preparers and reviewers of IFRS financial statements a high-level awareness of recent changes to International Financial Reporting Standards. It covers both new Standards and Interpretations that have been issued and amendments made to existing ones.
The 2026 edition of this publication has been updated for changes to International Financial Reporting Standards (IFRS Accounting Standards) that have been published between 1 January 2025 and 31 December 2025.
The publication will help you complete annual financial statements for 31 March 2025, 30 June 2025, 30 September 2025, 31 December 2025 and 31 March 2026 year ends.
How to use the publication
The effective dates table lists all the changes covered in the publication and their effective dates, it has been colour coded in the pdf to help entities planning for a specific financial reporting year end, and identifies:
- changes mandatorily effective for the first time
- changes not yet effective
- changes already in effect
Where a change is not yet mandatorily effective for a particular year end, it may still be possible for an entity to adopt it early (depending on local legislation and the ability to be able to fully comply with all the requirements).
Where a change has been made but an entity is yet to apply it, certain disclosures are required to be made under IAS 8 ‘Basis of Preparation of Financial Statements’. Disclosures required include the fact that the new or amended Standard or Interpretation has been issued but it has not yet been applied, and known or reasonably estimable information relevant to assessing its possible impact on the financial statements in the period of initial application.
Identifying the commercial significance of the changes in the publication
For each change covered in the publication, we have included a box on its commercial implications.
These sections focus on two questions:
- how many entities will be affected?
- what will be the impact on affected entities?
A traffic light system indicates our assessment of the answers to these questions.
Chetan Hans
Partner – Head of CFO Advisory
Related insights
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Principal versus agent considerations
Insights into IFRS 15IFRS 15 ‘Revenue from Contracts with Customers’ was jointly developed by the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) to harmonise revenue reporting under IFRS and US GAAP. In this article, we explore how to assess principal versus agent relationships and their impact on revenue recognition.