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Accounting Policies of Elegant Floriculture & Agrotech (I) Ltd. Company

Mar 31, 2014

(A) The Company generally follows mercantile method of accounting except the following which are accounted on cash basis.

i) Gratuity and incentives to employees

ii) Income from investment

iii) Claims and interest due on overdue bills.

iv) Closing Stock valued at cost.

(B) Depreciation on fixed assets have been provided on straight line method as per schedule XIV of the Companies Act, 1956, on Single Shift Basis.


Mar 31, 2013

(A) The Company generally follows mercantile method of accounting except the following which are accounted on cash basis.

i) Gratuity and incentives to employees

ii) Income from investment *

iii) Claims and interest due on overdue bills.

iv) Closing Stock valued at cost.

(B) Depreciation on fixed assets have been provided on straight line method as per schedule XIV of the Companies Act, 1956, on Single Shift Basis.


Mar 31, 2010

(A) The Company generally follows mercantile method of accounting except the following which are accounted on cash basis.

i) Gratuity and incentives to employees

ii) Income from investment

iii) Claims and interest due on overdue bills.

(B) Depreciation on fixed assets have been provided on straight line method as per schedule XIV of the Companies Act, 1956, on Single shift basis.

 
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