 Today, we are talking about general features of presenting the financial statement. Now, among the general features, we got fair presentation and compliance. Compliance means that we are preparing these statements following all the available international accounting standards, which means that the financial statement presents fairly or give a true and fair view. Now, this word gives true and fair view. It does not mean that everything is correct 100 percent. No, it's very, very difficult to say. Even the auditors say that the true and fair view, but I think still there is some room somewhere that when we do some adjustments, when we do some provisions or assumptions, we have something left out there. So, anyhow, but we are trying hard that we should give a true and fair view about the financial position, financial performance and cash flow of an entity. So, this is also very important that fair presentation should be there. Let people feel that the things are correct. Materiality – an item is deemed material if it's omission or misstatement. Completely, you left it out or you misstated, wrongly stated, would influence the economic decision of user taken based on the financial statement. Then if an item is entirely omitted or misstated, and if the decision maker knows about it, his decision will be different. Any item which affects the decision of the decision maker is a material item. Now, how to, let's say, find out whether the item is material or not? There is a test. For example, if that item affects at least 5 percent, then the item is material. For example, among, let's say, I'm giving you small figures, but it means the same. 20,000 sales, normally you have taken out. But do you mist out, let's say, 2,000 sales? Instead of 22, you report only 20,000, so you mist out 2,000, which is 10 percent of the sales. It's a material item. But as I said, the threshold is 5 percent. Similarly, sometimes we take it into consideration the profit percentage, that if it affects on your profit by 5 percent, item can be a material item. So the material item should not be understated or misstated or omitted from the accounts. Now, materiality is based on the items, nature, size and the surrounding circumstances. Now, in some time, this word materiality is not taken into account. For example, if we are, let's say, looking into our bank accounts, if there is a difference in your bank statement balance and the balance as per your cash book, we cannot ignore it. Although the difference is small, but still we cannot ignore it. We need to reconcile it before we report the bank balance or cash in hand or cash at bank in the balance sheet. So this is important. The sometime materiality cannot be compromised at all, not a percentage. Then going concern, the financial statement should be prepared on the going concerns basis, that the company is not having any intention to close its business in their future. Entirely or maybe a major part of your business, you are not going to concern. In fact, there are 20 factors which can determine that your business is going to be and not a going to concern. For example, you are not paying salaries to your staff. You are not paying to your creditors. What will happen? You are not paying to your creditors. It means they will stop the supplies then you are no more going to concern because it is not that simple that if you are not paying one player, you can go to the next supplier, no way. The other supplier will ask you from where you were buying previously. So obviously, he will tell you the whole story, so the new supplier will not also supply. So you have a problem. In fact, there are 20, 20 factors which contributes to that. For example, you are making losses, losses, losses, how long you can continue with these losses? So going concern means that you have to continue in business and that is the important thing. We prepare these accounts, keeping in mind that we are going to continue. We are buying, selling on credit because we know we are paying to the creditors and we are receiving from the receivable or debtors. So enterprise will not close its operation unless the management either intend to liquidate the enterprise or to seize trading. There is no intention to close business for a foreseeable future on the assumption of available information. At least the next 12 months you are continuing. Then we have this aggregation. Each material item, material class of similar items should be presented separately. In the financial statement, material items, they are dissimilar. Nature should be separately disclosed. Let me give you an example here. For example, you got a photocopying machine. You are incurring cost on that machine. So we just put together all those expenses of one item, printing item, printing expense. So it is not that each and every item should be disclosed separately. You put together because they are similar. Similar items should be put together, aggregation. But if it is a big amount then it should be bought separately. But if you are small, small amounts you can put together in one item. Thank you very much.