TRUE AND FAIR VIEWS

'' TRUE AND FAIR VIEW HAS NOT BEEN DEFINED IN ANY ACT ''

 1) Financial statement should be drawn up in conformity with the provisions of schedule 3 of companies  Act, 2013.

 2) Unambiguous, clear and is as per the relevant statutory requirement like disclosure , interpretation, etc.

 3) Draw conclusions consistent with the circumstances of business of entity.

 4) There is no under statement or over statement in balance sheet or profit & loss statement.

 5) Prepare in accordance with GAAP ( Generally Accepted Accounting Principal ) which have been follow.

 6) Event occurring after the balance sheet date but material enough to influence the financial position as at the end of financial year should also be considered by auditors.

 7) All unusual, exceptional and non-recurring items have been disclosed separate . 

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