As is known, depreciation can be provided for by one of several methods. If there has to be a change in a particular year, in that the method adopted in that year is different from the one adopted in previous years, such a change adopted must be indicated. [Note : Materiality referred to amounts of money whereas consistency refers to procedure(s) adopted]. Valuation of closing stocks is a like example. It is also important that frequent changes should not be resorted to.
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