Accounting policy alignment required for balance sheet preparation to compute gross assets and ensure consistent depreciation treatment.

Companies must prepare the balance sheet for the relevant financial year in accordance with Part I of Schedule VI, adopting the same accounting policies, accounting standards and depreciation methods as in the accounts laid at the annual general meeting or delivered to the Registrar; where statutory and Code financial years differ, the same policies and methods apply to the portion falling within the relevant year. Others must prepare accounts as if these provisions applied, and the Board may prescribe rules to modify these requirements to enable such preparation.

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