Accruals, Materiality and aggregation of Accounting - Ind AS - Indian Accounting Standards - Companies Law

..... Accruals, Materiality and aggregation of Accounting Accrual An entity shall prepare its financial statements, except for cash flow information, using the accrual basis of accounting. When the accrual basis of accounting is used, an entity recognises items as assets, liabilities, equity, income and expenses (the elements of financial statements) when they satisfy the definitions and recognition criteria for those elements in the Conceptual Framework. Materiality and Aggregation An entity shall .....

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Accruals, Materiality and aggregation of Accounting - Ind AS - Indian Accounting Standards - Companies Law

x x x x x   Extracts   x x x x x