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Accounting Policies of Ind Renewable Energy Ltd. Company

Mar 31, 2015

A) Recognition of Income and Expenditure:

The Accounts are prepared on accrual basis.

b) Fixed Assets and Depreciation :

Fixed Assets includes all expenditure of Capital nature and are stated at cost of Acquisition, installation and commissioning. Fixed Assets are stated at historical cost

c) Investments:

Investments are valued at cost inclusive of expenses incidental to their acquisition. Current Investments are carried at cost.

d) Impairment of Assets:

If internal /external indications suggest that an asset of the company may be impaired, the recoverable amount of asset/ cash generating unit is determined on the Balance Sheet date and if it is less than its carrying amount, the carrying amount of the asset / cash generating unit is reduced to the said recoverable amount. The recoverable amount is measured as the higher of net selling price and value in use of such assets / cash generating unit, which is determined by the present value of the estimated future Cash Flows.

e) Provision for Retirement Benefits:

Provision for gratuity is not made in accounts as the none of employee is eligible for the same

f) Contingent Liabilities:

Contingent liabilities are not provided for in the accounts and are disclosed separately in Notes on Accounts


Mar 31, 2014

A) Recognition of Income and Expenditure: The Accounts are prepared on accrual basis.

b) Fixed Assets and Depreciation:

Fixed Assets includes all expenditure of Capital nature and are stated at cost of Acquisition, installation and commissioning. Fixed Assets are stated at historical cost

c) Investments:

Investments are valued at cost inclusive of expenses incidental to their acquisition. Current Investments are carried at cost.

d) Impairment of Assets:

If internal /external indications suggest that an asset of the company may be impaired, the recoverable amount of asset/ cash generating unit is determined on the Balance Sheet date and if it is less than its carrying amount, the carrying amount of the asset / cash generating unit is reduced to the said recoverable amount. The recoverable amount is measured as the higher of net selling price and value in use of such assets / cash generating unit, which is determined by the present value of the estimated future Cash Flows.

e) Provision for Retirement Benefits:

Provision for gratuity is not made in accounts as the none of employee is eligible for the same

f) Contingent Liabilities:

Contingent liabilities are not provided for in the accounts and are disclosed separately in Notes on Accounts

 
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