https://www.taxtmi.com/article/detailed?id=10045 Amendment to Schedule III makes rounding off figures in financial statements mandatory by reference to total income and requires uniform use of a chosen measurement unit. Two broad slabs are prescribed with wide discretion over rounding units, which can impair readability and inter firm comparability-particularly for companies with very small or very large figures. The author recommends multiple calibrated slabs, restricted permissible units per slab (favoring full amounts or crores for many Indian companies), and optional alternate presentations for foreign readers to improve clarity and comparability. en-us Sat, 16 Oct 2021 18:55:35 +0530 Sat, 16 Oct 2021 18:55:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10045 Amendment to Schedule III makes rounding off figures in financial statements mandatory by reference to total income and requires uniform use of a chosen measurement unit. Two broad slabs are prescribed with wide discretion over rounding units, which can impair readability and inter firm comparability-particularly for companies with very small or very large figures. The author recommends multiple calibrated slabs, restricted permissible units per slab (favoring full amounts or crores for many Indian companies), and optional alternate presentations for foreign readers to improve clarity and comparability. Articles Accounting - Auditing Sat, 16 Oct 2021 18:55:35 +0530 https://www.taxtmi.com/article/detailed?id=10045