Investor Presentaiton
116
D)
E)
or a non-financial liability, then the gain or loss that are
accumulated in the cash flow hedge reserve is recognised in
the initial cost or other carrying amount of the asset or liability
(this is also referred to as "Basis Adjustment").
Ministry of Corporate Affairs (MCA) vide notification dated
24th March 2021, has amended Schedule III to the Companies
Act, 2013 to enhance the disclosure requirements in financial
statements. The financial statements have been prepared
after incorporating the amendments to the extent they are
applicable.
Recent accounting pronouncements
The Ministry of Corporate Affairs (MCA) on 31st March 2023
through Companies (Indian Accounting Standards) Amendment
Rules, 2023 has notified the following amendments to IND AS
which are applicable for the annual periods beginning on or
after 1st April, 2023.
IND AS 1 Presentation of Financial Statements - This
amendment requires the Company to disclose its material
accounting policies rather than their significant accounting
policies.
b)
c)
The Company will carry out a detailed review of accounting
policies to determine material accounting policy information
to be disclosed going forward.
The Company does not expect this amendment to have any
material impact in its financial statements.
IND AS 8- Accounting Policies, Changes in Accounting
Estimates and Errors This amendment has changed the
definition of a "change in accounting estimates" to a
definition of "accounting estimates". The amendment
clarifies how companies should distinguish changes in
accounting policies from changes in accounting estimates.
The Company does not expect this amendment to have any
material impact in its financial statements.
IND AS 12 Income Taxes - This amendment has done
away with the recognition exemption on initial recognition
of assets and liabilities that give rise to equal and offsetting
temporary differences.
The Company does not expect this amendment to have any
material impact in its financial statements.View entire presentation