Common use of USE OF ESTIMATES Clause in Contracts

USE OF ESTIMATES. The preparation of financial statements in conformity of Ind AS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, the disclosures of contingent assets and contingent liabilities at the date of financial statements, income and expenses during the period. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in future periods which are affected. Application of accounting policies that require critical accounting estimates and assumption having the most significant effect on the amounts recognised in the financial statements are: - Valuation of financial instruments - Valuation of derivative financial instruments - Useful life of property, plant and equipment - Useful life of investment property - Provisions - Recoverability of trade receivables Summary of significant accounting policies

USE OF ESTIMATES. The preparation of financial statements in conformity of Ind AS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, the disclosures of contingent assets and contingent liabilities at the date of financial statements, income and expenses during the period. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in future periods which are affected. Application of accounting policies that require critical accounting estimates and assumption having the most significant effect on the amounts recognised in the financial statements are: - Valuation of financial instruments - Valuation of derivative financial instruments - Useful life of property, plant and equipment - Useful life of investment property - Provisions - Recoverability of trade receivables Summary of significant accounting policies