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Exposure draft of the Accounting Standard for Local Bodies (ASLB) 2, 'Cash Flow Statements'.
August, 04th 2015
Committee on Accounting Standards for Local Bodies

The Committee on Accounting Standards for Local Bodies (CASLB) was constituted as a separate Committee in March, 2005, with the main objective of formulating Accounting Standards for Local Bodies (ASLBs). So far, the Committee has issued eleven ASLBs and ASLB 24, ‘Presentation of Budget Information in Financial Statements’ is likely to be issued shortly. Moving forward in this direction, the Committee has finalised the Exposure Draft of ASLB 2, ‘Cash Flow Statements’

The objective of ASLB 2 is to require the provision of information about the historical changes in cash and cash equivalents of an entity by means of a cash flow statement that classifies cash flows during the period from operating, investing and financing activities. The cash flow statement also identifies the sources of cash inflows, cash outflows, and the cash balance as at the reporting date. Information about the cash flows of an entity is useful in providing users of financial statements with information for both accountability and decision-making purposes. 

Comments on the above Exposure Draft is invited which can be submitted using one of the following methods, so as to be received not later than September 10, 2015:

1. Electronically: Click on to submit comment online
2. Email: Comments can be sent to:
3. Postal: Secretary, Committee on Accounting Standards for Local Bodies,
The Institute of Chartered Accountants of India,
ICAI Bhawan, Post Box No. 7100,
Indraprastha Marg, New Delhi 110 002
(CA. S. Santhanakrishnan)
Chairman, Committee on Accounting Standards for Local Bodies

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