Mar 31, 2014
1. ACCOUNTING CONVENTION:
1. The accounts have been prepared under the historical cost
convention.
2. Income and Expenditure recognition:
a) Interest on loans are accounted for on accrual basis.
b) Dividend on shares and other incomes are accounted for on receipt
basis.
c) All items of expenditure are accounted for on accrual basis.
3. The Company has followed the prudential norms as prescribed by the
Reserve Bank of India under Non-Banking Financial Companies Prudential
Norms (Reserve Bank) Directions 1998 as amended from time to time.
4. Depreciation / Amortisation policy : Depreciation on assets is
provided on the Written Down Value Method at the rates prescribed in
Schedule XIV to the Companies Act, 1956. The Cost of the leased assets
is amortised during the lease period, for all the assets acquired since
inception, as recommended in the "Guidance Note on Accounting for
Leases (Revised)" issued by the Institute of Chartered Accountants of
India.
Depreciation has not been provided on repossessed assets pending the
sale and / or realization of the assets since the assets are not put
into use after such repossession.
5. Valuation of Fixed Assets :
Fixed Assets are carried at historical cost less accumulated
depreciation.
6. Inventory of Shares:
Shares and Securities are valued at Cost or market price whichever is
lower.
7. Compliance with Accounting Standards:
Appropriate Accounting Standards have been duly considered while
preparing the financial and other statements.
8. Retirements Benefits:
Retirement benefits are accounted for on Accural basis as per Revised
Accounting Standard -15 on the basis of acturial valuation.
9. Accounting for Taxes on Income (AS 22)
Deferred Tax Assets / Liability is recognized as per Accounting
Standard AS 22 on -Accounting for taxes on Income'' issued by The
Institute of Chartered Accountants of India.
Mar 31, 2012
1 The accounts have been prepared under the historical cost convention.
b) interest on loans are accounted for on accrual basis.
c) Dividend on shares and other incomes are accounted for on receipt
basis.
d) All items of expenditure are accounted for on accrual basis
2) The Company has followed the prudential norms as prescribed by the
Reserve Bank of indlunSon-Banking Financial Companies Prudential Norms
(Reserve Bank) Directions 1998 as amended from time to time.
3 Depreciation / Amortisation policy : Depreciation on assets is
provided on the Written Down Value Method at the rates prescribed in
Schedule XIV to the Companies Act,1956 of the leased assets is
amortised during the lease period, for all assets acquit since
inception, as recommended in the "Guidance Note on Accounting for
Leases (Revised)" issued by the Institute of Chartered Accountants of
India. Depreciation has not been provided on repossessed assets pending
the sale and /or realization of the assets since the assets are not put
into use after such repossession.
4. Valuation of Fixed Assets;
Fixed Assets are carried at historical cost less accumulated
depreciation.
5 Inventory of Shares:
Shares and Securities are valued at Cost or market price whichever is
lower.
6 Detainee with Accounting Standards Appropriate Accounting
Standards have been duly considered while prepping the financial and
other statements.
7. Retirements Benefits:
Retirement benefits are accounted for on Accrual basis as per Revised
Accounting Standard -15 on the basis of actuarial valuation.
8. Accounting for Taxes on Income (AS 22)
Deferred Tax Assets / Liability is recognized as per Accounting
Standard AS 22 on Accounting for taxes on Income'' Skied by The
Institute of Chartered Accountants of India.
8. Contingent Liabilities. : Nil
Mar 31, 2011
1. The accounts have been prepared under the historical cost
convention.
2. income and Expenditure recognition :
a) Lease Income is accounted as per the terms of the respective lease
agreements.
b) Interest on loans are accounted for on accrual basis.
c) Dividend on shares and other incomes are accounted for on receipt
basis.
d) All items of expenditure are accounted for on accrual basis.
3. The Company has followed the prudential norms as prescribed by the
Reserve Bank of India under Non-Banking financial Companies Prudential
Norms (Reserve Bank) Directions 1998 as amended from time to time.
4. Depreciation / Amortization policy : Depreciation on assets is
provided on the Written Down Value Method at the rates prescribed in
Schedule XIV to the Companies Act, 1956. The Cost of the leased assets
is amortized during the lease period, for all the assets acquired since
inception, as recommended in the "Guidance Note on Accounting for
Leases (Revised)" issued by the Institute of Chartered Accountants of
India.
Depreciation has not been provided on repossessed assets pending the
sale and / or realization of the assets since the assets are not put
into use after such repossession.
5. Valuation of Fixed Assets :
Fixed Assets are carried at historical cost less accumulated
depreciation.
6. Inventory of Shares:
Shares and Securities are valued at Cost or market price whichever is
lower.
7. Compliance with Accounting Standards:
Appropriate Accounting Standards have been duly considered while
preparing the financial and other statements.
8. Retirements Benefits:
Retirement benefits are accounted for on Accrual basis as per Revised
Accounting Standard -15 on the basis of actuarial valuation.
9. Accounting for Taxes on Income (AS 22)
Deferred Tax Assets / Liability is recognized as per Accounting
Standard AS 22 on 'Accounting for taxes on Income' issued by The
Institute of Chartered Accountants of India.
Mar 31, 2010
1. The accounts have been prepared under the historical cost
convention.
2. Income and Expenditure recognition :
a) Lease Income is accounted as per the terms of the respective lease
agreements.
b) Interest on loans are accounted for on accrual basis.
c) Dividend on shares and other incomes are accounted for on receipt
basis.
d) All items of expenditure are accounted for on accrual basis.
3. The Company has followed the prudential norms as prescribed by the
Reserve Bank of India under Non-Banking Financial Companies Prudential
Norms (Reserve Bank) Directions 1998 as amended from time to time.
4. Depreciation /Amortisation policy: Depreciation on assets is
provided on the Written Down Value Method at the rates prescribed in
Schedule XIV to the Companies Act, 1956.
The Cost of the leased assets is amortised during the lease period, for
all the assets acquired since inception, as recommended in the
"Guidence Note on Accounting for Leases (Revised)" issued by the
Institute of Chartered Accountants of India.
Depreciation has not been provided on repossessed assets pending the
sale and / or realization of the assets since the assets are not put
into use after such repossession.
5. Valuation of Fixed Assets :
Fixed Assets are carried at historical cost less accumulated
depreciation.
6. Inventory of Shares:
Shares and Securities are valued at Cost or market price whichever is
lower.
7. Compliance with Accounting Standards :
Appropriate Accounting Standards have been duly considered while
preparing the financial and other statements.
8. Retirements Benefits:
Retirement benefits are accounted for on Accural basis as per Revised
Accounting Standard -15 on the basis of acturial valuation.
9. Accounting for Taxes on Income (AS 22)
Deferred Tax Assets / Liability is recognized as per Accounting
Standard AS 22 on Accounting for taxes on Income issued by The
Institute of Chartered Accountants of India.
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