A talk on `Common Mistakes in Financial Statements’ was organised at the main conference hall of RINL, the corporate entity of Visakhapatnam Steel Plant, in association with Ukkunagaram Study Circle of Institute of Chartered Accountants in India), here on Saturday.
Kamal Garg, a Chartered Accountant and member of Accounting Standards Board (ASB) and Financial Reporting Review Board (FRRB) of the ICAI, New Delhi, delivered the talk.
RINL Director (finance) C.H.V.R.G.K. Ganesh chaired the session.
Mr. Kamal Garg deliberated about the need for transparent reporting while preparing the financial statements. It involves providing clear, comprehensive and understandable information including disclosing accounting policies, assumptions and potential risks, enabling stakeholders to make informed decisions, he said
