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Accounting Policies of Enbee Trade & Finance Ltd. Company

Mar 31, 2014

Accounting Convention:

The financial statements are prepared under the historical cost convention in accordance with Applicable Accounting Standards in India, the provisions of the Companies Act, 1956 and the Companies Act, 2013.

Fixed Assets:

Fixed Assets are stated at cost less Depreciation.

Depreciation:

Depreciation has been provided on written down value method for the year at rates and the manner prescribed under Schedule XIV to the Companies Act, 1956.

Investments:

Long Term investments are valued at cost except that provision is made to recognize the permanent diminution in their value. Investments intended to be held for less than one year are classified as current investments and are valued at lower of cost and market value.

Revenue and Expenditure Recognition:

Revenue is recognised and expenditure is accounted for on accrual basis however the amounts which are not materially significant is accounted on cash basis.

Impairment of assets:

Impairment loss in the value of assets as specified in Accounting Standard 28 is recognized whenever carrying value of such assets exceeds the market value or value in use, whichever is higher.

Taxes on Income :

i) Current tax is determined as the amount of tax payable in respect of taxable income for the year.

ii) Deferred Tax is recognized, subject to consideration of prudence, in respect of deferred tax assets/liabilities arising on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.


Mar 31, 2013

Accounting Convention:

The financial statements are prepared under the historical cost convention in accordance with applicable Accounting Standards.

Fixed Assets:

Fixed Assets are stated at cost less Depreciation.

Depreciation:

Depreciation has been provided on written down value method for the year at rates and the manner prescribed under Schedule XIV to the Companies Act, 1956.

Investments:

Long Term investments are valued at cost except that provision is made to recognize the permanent diminution in their value. Investments intended to be held for less than one year are classified as current investments and are valued at lower of cost and market value.

Revenue and Expenditure Recognition:

Revenue is recognised and expenditure is accounted for on accrual basis however the amounts which are not materially significant is accounted on cash basis.

Impairment of assets:

Impairment loss in the value of assets as specified in Accounting Standard 28 is recognized whenever carrying value of such assets exceeds the market value or value in use, whichever is higher.

Taxes on Income:

i) Current tax is determined as the amount of tax payable in respect of taxable income for the year.

ii) Deferred Tax is recognized, subject to consideration of prudence, in respect of deferred tax assets/liabilities arising on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.


Mar 31, 2012

Accounting Convention:

The financial statements are prepared under the historical cost convention in accordance with

applicable Accounting Standards.

Fixed Assets:

Fixed Assets are stated at cost less Depreciation

Depreciation :

Depreciation has been provided on written down value method for the year at rates and the

manner prescribed under Schedule XIV to the Companies Act, 1956.

Investments:

Long Term investments are valued at cost except that provision is made to recognize the

permanent diminution in their value. Investments intended to be held for less than one year are

classified as current investments and are valued at lower of cost and market value.

Revenue and Expenditure Recognition:

Revenue is recognised and expenditure is accounted for on accrual basis however the amounts

which are not materially significant is accounted on cash basis. Impairment of assets:

Impairment loss in the value of assets as specified in Accounting Standard 28 is recognized

whenever carrying value of such assets exceeds the market value or value in use, whichever is higher. Taxes on Income :

i) Current tax is determined as the amount of tax payable in respect of taxable income for the year.

ii) Deferred Tax is recognized, subject to consideration of prudence, in respect of deferred tax assets/liabilities arising on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods


Mar 31, 2010

Fixed Assets:

Fixed Assets are stated at cost less Depreciation.

Method of Depreciation

Depreciation has been provided on written down value method for the year at rates and the manner preseribed under Schedule XIV to the Companies Act. 1956.

Investments:

Investments are stated at cost. Provision for diminution is made to recognise a decline, other than temporary . in the value of such investments.

Revenue and Expenditure Recognition:

Revenue is recognised and expenditure is accounted for on accrual basis however the amounts which are not materially significant is accounted on cash basis.


Mar 31, 2009

- Fixed Assets;

Fixed Assets are stated at cost less Depreciation.

- Method of depreciation :

Depreciation has been provided on written down value method for the year at rates and the manner prescribed in schedule XIV to the Companies Act, 1956.

- Investments:

Investments are stated at cost. Provision for diminution is made to recognize a decline, other than temporary, in the value of such investments.

- Revenue and Expenditure Recognition:

Revenue is recognized and expenditure is accounted for on accrual basis however the amounts, which are not materially significant, is accounted on cash basis.

 
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