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    <description>The Schedule prescribes preparation on a historical cost and accrual basis, classification and valuation rules for investments, capitalisation and treatment of fixed assets including pre-operational costs and non monetary grants, straight-line depreciation with pro rata application and amortisation of foreign exchange cost adjustments, write-off of low-value assets, amortisation of deferred revenue expenditure, sales measurement, government grant treatment as capital reserve or asset deduction and realization accounting, foreign currency transaction and year-end conversion rules with allocation of exchange differences, lease rentals expensed, and actuarial accruals for gratuity and leave encashment.</description>
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