Section 14 in The Companies (Accounting Standards) Rules, 2006
14. The following are examples of the areas in which different accounting policies may be adopted by different enterprises,
(a)Methods of depreciation, depletion and amortisation(b)Treatment of expenditure during construction(c)Conversion or translation of foreign currency items(d)Valuation of inventories(e)Treatment of goodwill(f)Valuation of investments(g)Treatment of retirement benefits(h)Recognition of profit on long-term contracts(i)Valuation of fixed assets,(j)Treatment of contingent liabilities.
