Accounting Standards: revised recognition, measurement and disclosure rules for inventories, provisions, PPE and consolidation. Amendments revise multiple Accounting Standards: AS 2 mandates inventories be measured at the lower of cost and net realisable value with defined cost components, permitted cost formulas and disclosure requirements; AS 4/AS 29 distinguish contingencies and post balance sheet events, require provisions only where present obligation, probable outflow and reliable estimate exist and set measurement and disclosure rules; AS 10 prescribes recognition, measurement (cost or revaluation model), depreciation, derecognition and disclosure for property, plant and equipment; AS 13, AS 14 and AS 21 restate rules for investments, amalgamations (including goodwill treatment) and consolidated financial statements, with transitional provisions and cross references to other Standards.