https://www.taxtmi.com/acts?id=14674 All significant accounting policies used in preparing and presenting financial statements must be disclosed as part of the financial statements, preferably in one place. Fundamental assumptions (Going Concern, Consistency, Accrual) need not be stated when followed but must be disclosed if not followed. Selection of policies should promote a true and fair view guided by prudence, substance over form and materiality. Any change in accounting policy with a material effect, or reasonably expected to have one, must be disclosed and the amount of the effect stated to the extent ascertainable. en-us Sat, 04 Jun 2011 10:34:16 +0530 Thu, 17 Sep 2015 22:31:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=14674 All significant accounting policies used in preparing and presenting financial statements must be disclosed as part of the financial statements, preferably in one place. Fundamental assumptions (Going Concern, Consistency, Accrual) need not be stated when followed but must be disclosed if not followed. Selection of policies should promote a true and fair view guided by prudence, substance over form and materiality. Any change in accounting policy with a material effect, or reasonably expected to have one, must be disclosed and the amount of the effect stated to the extent ascertainable. Act-Rules Companies Law Sat, 04 Jun 2011 10:34:16 +0530 https://www.taxtmi.com/acts?id=14674