Disclose example sentences

AS 3 requires that cash flows arising from taxes on income should be separately disclosed and should be classified as cash flows from operating activities unless they can be specifically identified with financing and investing activities.The principle of full disclosure requires that all material and relevant facts concerning financial performance of an enterprise must be fully and completely disclosed in the financial statements and their accompanying footnotes., copy rights and related rights, trade marks, geographical indication, industrial designs, patents, layout design of integrated circuits, and undisclosed information (trade secrets).In case of non-compliance, the companies are required to disclose the reasons for deviations and the financial effect, if any, arising due to such deviation.Necessary required changes are fully disclosed by presenting them in the financial statements indicating their probable effects on the financial results of business.Profit and loss account discloses the profit/loss for a specified period.Extraordinary items are non-recurring in nature and hence cash flows associated with extraordinary items should be classified and disclosed separately as arising from operating, investing or financing activities.Such transactions should be disclosed elsewhere in the financial statements in a way that provide all the relevant information about these investing and financing activities.Hence, stocks acquired by issue of shares are not disclosed in cash flow statement.It may also help to reduce the disclosed profits and also the tax liability .Balance sheet does not disclose information relating to loss of markets, and cessation of agreements, which have vital bearing on the enterprise.To ensure reliability, the information disclosed must be credible, verifiable by independent parties use the same method of measuring, and be neutral and faithful.All such information about material facts should be disclosed through the financial statements and the accompanying notes so that users can take informed decisions.However, Part of Schedule I of the Act gives detailed requirements as to the profit and loss account and clearly states that it “shall be made out as clearly to disclose the result the working of the company during the period covered by the account, and shall disclose every material feature.

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