IAS 7, Cash Flow Statements, became effective in 1994. The IASB then amended the title of IAS 7 to Statement of Cash Flows. The purpose of the statement of cash flows is to provide information about the operating cash receipts and cash payments of an entity during a period, as well as providing insight into its various investing and financing activities. The statement of cash flows must be presented as an integral part of the financial statements in the form of a separate statement. It discloses important information about the cash flows from operating, investing, and financing activities, information that is not available or as clearly discernible in either the statement of financial position or the statement of profit or loss and comprehensive income. However, IAS 7 does require that the effects of transactions not resulting in receipts or payments of cash be disclosed elsewhere in the financial statements.