Definition of certain terms as per Ind AS 8

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..... preparing and presenting financial statements. 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 pe .....

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..... correcting the recognition, measurement and disclosure of amounts of elements of financial statements as if a prior period error had never occurred. Impracticable Applying Impracticable Applying a requirement 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 a .....

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