I want to know if we change only wording of notes to accounts but it does not have any impact on the financial statements and we delete some accounting policies not applicable to the company (as applicable in the previous year), then what are the consequences.
27 May 2013
Notes to accounts is related to respective financial year basis. you can make according to the financial result and details related to financials
But Accounting policies will be applied consistently by the company, it will be remain unchanged unless the statutory requirement prevails the policy. accounting policy need to be disclosed
I want to know if the previous year balance sheet was finalised by other auditor and he mention the accounting policies not applicable to the company and this time we want to delete these policies in the notes to accounts, can we do this.