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what accouting policies company must follow is that upto the company or it iis governed by law? [Video Time Stamp: 06:10] Video Details ------------- Accounting - CA Foundation (New) Accounting Policies #1. Accounting Policies - Background
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Accounting policies are not fully up to the company they must comply with laws and standards like Companies Act 2013 and Indian Accounting Standards (Ind AS). Within that framework, management has limited discretion to choose policies (e.g., depreciation method), but they must be consistent, reasonable, and properly disclosed.
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