Accounting policies: classification and valuation of investments, capitalization of fixed assets, depreciation and foreign currency treatment.

The Schedule prescribes the historical cost and accrual basis, valuation rules for long-term and current investments, capitalization of fixed assets including pre-operational costs, straight-line depreciation as per Income-tax Act rates with prorata treatment and low-value full write-off, five-year amortization of deferred revenue expenditure, sales and government grants recognition rules, foreign currency conversion with gain/loss treatment, expensing of lease rentals, and accrual of gratuity and leave encashment based on actuarial valuation.

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