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Change in accounting policies requires detailed disclosure of nature, reason and effects on current and prior financial statements. Change in Accounting Policies requires disclosure of the title of the specific Ind AS and any transitional provision, the nature and reason for the change, the effect on current and prior periods and the adjustments made, and, where retrospective application is impracticable, the reason for impracticability. For voluntary policy changes, entities must disclose the nature, reason, period effects and adjustments and reasons if retrospective restatement is impracticable. If a new Ind AS has been issued but not applied, the entity must state the nonapplication and estimate the possible impact on the financial statements.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Change in accounting policies requires detailed disclosure of nature, reason and effects on current and prior financial statements.
Change in Accounting Policies requires disclosure of the title of the specific Ind AS and any transitional provision, the nature and reason for the change, the effect on current and prior periods and the adjustments made, and, where retrospective application is impracticable, the reason for impracticability. For voluntary policy changes, entities must disclose the nature, reason, period effects and adjustments and reasons if retrospective restatement is impracticable. If a new Ind AS has been issued but not applied, the entity must state the nonapplication and estimate the possible impact on the financial statements.
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