guys can anybody tell me what are the places in which accounting policies are used(10 place)?
1 Replies
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 14 November 2011
Accounting policies are used in the following cases:
Depreciation on Fixed Assets
Valuation of Fixed assets in the B/S
Valuation of Gratuity
Accounting treatment for Forex
Accounting treatment for Product Warranties
Presentation of Investments
Valuation of Stock
Amortization of VRS expenditure, Preliminary Expenses etc..
also please refer to the Advanced Auditing study material of CA Final chapter Audit Report for more information.
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