210 Annual Report 2023-24 Atul Ltd Inter-segment transfers Inter-segment revenue has been accounted for based on the transaction price agreed to between segments which is based on current market prices. Unallocated items Revenue, expenses, assets and liabilities which relate to the Group as a whole and not allocable to segments on a reasonable basis have been included under ‘unallocated revenue | expenses | assets | liabilities’. See Note 30.17 - Segment Information for further details. Critical estimates and judgements Preparation of the Consolidated Financial Statements require the use of accounting estimates, judgements and assumptions, which by definition, will seldom equal the actual results. Appropriate changes in estimates are made as the Management becomesawareof changes in circumstances surrounding theestimates. Changes inestimatesare reflected in theConsolidated Financial Statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the Consolidated Financial Statements. This Note provides an overview of the areas that involve a higher degree of judgement or complexity and of items that are more likely to be materially adjusted due to estimates and assumptions turning out to be different than those originally assessed. Detailed information about each of these estimates and judgements is included in relevant notes together with information about the basis of calculation for each affected line item in the Consolidated Financial Statements. The areas involving critical estimates or judgements are: i) Estimation for income tax: Note 1 (f) ii) Estimation of useful life of tangible assets: Note 1 (j) iii) Estimated goodwill impairment: Note 1 (m) iv) Estimation of provision for inventories: Note 1 (t ) v) Allowance for credit losses on trade receivable: Note 1 (r) vi) Estimation of claims | liabilities: Note 1 (ab) vii) Estimation of defined benefit obligation: Note 1 (ac) viii) Consolidation decisions and classification of joint arrangements: Note 1 (b) and Note 30.16 ix) Impairment: Note 1 (o)
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