Significant accounting policies, Note 1
A single format from the Statement and Note Formats pack. delete what does not apply to this entity.
- 4 pages
- 16
- Word and PDF
- 14 September 2026
What it covers
- 1Significant accounting policies, Note 1delete what does not apply to this entity
Read the opening
The first part of the format, as it downloads. Blanks are highlighted.
NOTE 1 — COMPANY INFORMATION AND SIGNIFICANT ACCOUNTING POLICIES
1.1 Entity information. [Entity's name] is a [private limited company] incorporated in India under the Companies Act [Year of the Companies Act], having its registered office at [Entity's registered office address]. The entity is engaged in [nature of business].
1.2 Basis of preparation. These financial statements have been prepared under the historical cost convention on the accrual basis of accounting, in accordance with the Accounting Standards notified under section 133 of the Companies Act 2013 read with the Companies (Accounting Standards) Rules 2021, and the presentation requirements of Division I of Schedule III. [The Company is a Small and Medium Sized Company as defined in the said Rules and has complied with the Accounting Standards to the extent applicable to such a company.] The financial statements are presented in Indian rupees, rounded off to the nearest [Rounding of amounts (nearest unit)].