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Disclosure of accounting policies
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321. (1) A company shall disclose in the notes to its entity financial statements the accounting policies adopted by the company in determining—
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(a) the items and amounts to be included in its balance sheet, and
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(b) the items and amounts to be included in its profit and loss account.
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(2) Where a company prepares group financial statements, the notes to those financial statements shall disclose the accounting policies adopted by the company in determining—
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(a) the items and amounts to be included in its consolidated balance sheet, and
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(b) the items and amounts to be included in its consolidated profit and loss account.
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