Accounting Policies

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..... plying the Ind AS. Accounting policies adopted by the entity mut comply with Ind ASs specific guidance. Financial statements which are prepared by the accounting policies set by Ind AS gives relevant and reliable information about the transactions, other events and conditions to which they apply. Those policies need not be applied when the effect of applying them is immaterial. However, it is i .....

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..... accounting policy that results in information that is: relevant to the economic decision-making needs of users; and reliable, in that the financial statements: represent faithfully the financial position, financial performance and cash flows of the entity; reflect the economic substance of transactions, other events and conditions, and not merely the legal form; are neutra .....

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..... those of the other standard-setting bodies that use a similar conceptual framework to develop accounting standards, other accounting literature and accepted industry practices, to the extent that these do not conflict with the sources in paragraph 11. Consistency of accounting policies An entity shall select and apply its accounting policies consistently for similar transactions, other e .....

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