materiality concept -AS1

AS 1 defines 'material item' as the items, the knowledge of which might influence the decision of the users of financial statements. Also:

Any item under which the expenses exceed 1 percent of total revenue of the company or Rs.5000 whichever is higher are shown as a separate and distinct item against appropriate account head in the P&L and are not combined with any other item shown under miscellaneous expenses.

Are there any changes in the above mentioned point with regard to the current A.Y.??

no there is no change.....the material items should be recorded as stated in AS 1.