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of <h1>Insolvency and Bankruptcy Board Rules 2018: Key Accounting Policies for Investments, Assets, and Transactions Explained</h1> The statutory provisions outline significant accounting policies under the Insolvency and Bankruptcy Board of India Rules, 2018. Financial statements are prepared using historical cost convention and accrual accounting. Long-term investments are carried at cost, while current investments are valued at the lower of cost or fair value. Fixed assets include acquisition costs and are depreciated using the straight-line method. Government grants are treated as capital reserves or deductions from asset costs. Foreign currency transactions are recorded at prevailing exchange rates. Lease rentals are expensed based on terms, and retirement benefits are accrued through actuarial valuation.
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