Accounting Standard – 1
Disclosure of Accounting Policies
1.
Applicability
and Nature : This AS is applicable from 01-04-1993 onwards and Mandatory
for SMC, NON-SMC and Level-I,II & III (It means mandatory for all)
2.
Objective:-
The main objective of this AS is to provide better understanding of the F/S by
disclosing the significant accounting policies used in preparation of F/S. This
also helps meaning full comparison between F/S s of different enterprises.
