Accounting policies
This query is : Resolved
19 July 2013
WHAT IS THE MEANING OF FORMULATION OF ACCOUNTING POLICIES AND PROCEDURES?
I HAVE SEEN THIS IN ONE OF THE CV
I HAVE SEEN THIS IN ONE OF THE CV
CMA Ramesh Krishnan
(Expert)
19 July 2013
It is preparation of accounting policies and procedure for the company, how to account each and every business transaction etc. this top management level profile
CMA Ramesh Krishnan
(Expert)
20 July 2013
Basis for this accounting standard by the ICAI. we need to define the policies and procedure for each transaction how to be treated and accounted.example capitalisation of fixed asset. company may decide that below if the asset below Rs.10000/- the same can be written of the year or purchase and second example, deciding the the method of depreciation whether SLM or WDV this are the example of accounting policies
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