How company record its financial information

Financial Information like Depreciation rates as mentioned in your query, is part of Company Policy which is required to be disclosed in the Financial Statement.

As per revised Accounting Standard as well as Ind AS & IFRS, any change in rates will be treated as change in accounting estimates and will be accounted prospectively, unlike earlier practice of treating it as change in account policy and retrospectively accounting,

Yes notes to accounts. Disclosure of Significant Accounting Policies.