(main)[10]
(a)[2]
Explain how a statement of cash flows differs from a cash budget.
(b)[10]
Prepare a statement of cash flows for Hank Limited for the year ended 31 March 2016 in accordance with IAS 7.
(c)[4]
Using the statement of cash flows, explain whether Hank Limited's cash position is strong or weak.
(d)[5]
Prepare a condensed schedule of non-current assets in note form as it would be shown in the published accounts for the year ended 31 March 2016.
(e)[4]
Advise the directors whether they ought to apply the International Accounting Standards when drawing up the published accounts. Support your answer.