Definition of certain terms as per Ind AS 8

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....atements. Accounting estimates Accounting estimates are monetary amounts in financial statements that are subject to measurement uncertainty. Prior period errors Prior period errors are omissions from, and misstatements in, the entity's financial statements for one or more prior periods arising from a failure to use, or misuse of, reliable information that: * was available when financial sta....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... is impracticable when the entity cannot apply it after making every reasonable effort to do so. For a particular prior period, it is impracticable to apply a change in an accounting policy retrospectively or to make a retrospective restatement to correct an error if: * the effects of the retrospective application or retrospective restatement are not determinable; * the retrospective applicati....