Section 94 in The Companies (Indian Accounting Standards) Rules, 2015
94. An entity shall determine appropriate classes of assets and liabilities on the basis of the following:
(a)the nature, characteristics and risks of the asset or liability; and(b)the level of the fair value hierarchy within which the fair value measurement is categorised.The number of classes may need to be greater for fair value measurements categorised within Level 3 of the fair value hierarchy because those measurements have a greater degree of uncertainty and subjectivity. Determining appropriate classes of assets and liabilities for which disclosures about fair value measurements should be provided requires judgement. A class of assets and liabilities will often require greater disaggregation than the line items presented in the balance sheet. However, an entity shall provide information sufficient to permit reconciliation to the line items presented in the balance sheet. If another Ind AS specifies the class for an asset or a liability, an entity may use that class in providing the disclosures required in this Ind AS if that class meets the requirements in this paragraph.
