alleryStart learning →Must estimation uncertainty disclosures include forecasts?
ANo, they are not required
BYes, for every estimate
CYes, for assets above a limit
DYes, if auditors insist
Answer & Solution
Correct answer: A. No, they are not required
The standard states it does not require budget information or forecasts in these disclosures.
Keep practising Ind AS 1 Presentation of Financial Statements
Browse all Ind AS 1 Presentation of Financial Statements questions for CA Final, or explore more Financialreporting topics.
Related questions
If Ind AS rules are insufficient for users, what is added?In virtually all cases a true and fair view is achieved by what?How are items of dissimilar nature or function presented unless immaterial?Puttable instruments classed as equity need which outflow disclosed?What must be disclosed about externally imposed capital requirements?Capital disclosures follow information given to whom internally?A capital disclosure covers objectives, policies and what?Which asset is exempt from estimation uncertainty disclosure?