Mar 31, 2015
A) Accounting Methodology
The accounts have been prepared on historical cost basis of accounting
in accordance with the generally accepted accounting principles and the
provisions of the Companies Act, 2013. The Company adopts the accrual
concept in the preparation of accounts, unless otherwise stated.
B) Investments
Investments classified as long term investments are carried at cost.
Provision for diminu- tion, if any, in the value of investments is made
to recognize a decline, other than, that of a temporary nature.
C) Revenue Recognition
As for the real estate business the revenue from sale properties
constructed is recognized on transfer of significant risk and rewards
to the buyer. Accordingly cost of construction /development is charged
to the profit and loss account in proportion to the revenue recognized
during the period and balance costs are carried as inventories. Amounts
re- ceivable/payable are reflected as Debtors/Advances from Customers,
respectively, after considering income recognized in the aforesaid
manner.
Dividend Income is recognized when the right to receive dividend is
established.
D) Fixed Assets
1. All the fixed assets have been stated at cost inclusive of incidental
expenses less accumulated depreciation less impairment if any.
2. Depreciation on Fixed Assets is provided on Straight Line Method at
the rates and in the manner specified in Schedule II to the Companies
Act, 2013.
E) Inventories
Inventories are valued at lower of cost and net realizable value.
Mar 31, 2014
A) Accounting Methodology
The accounts have been prepared on historical cost basis of accounting
in accordance with the generally accepted accounting principles and the
provisions of the Companies Act, 1956. The Company adopts the accrual
concept in the preparation of accounts, unless otherwise stated.
B) Investments
Investments classified as long term investments are carried at cost.
Provision for diminution, if any, in the value of investments is made
to recognize a decline, other than, that of a temporary nature.
C) Revenue Recognition
As for the real estate business the revenue from sale properties
constructed is recognized on transfer of significant risk and rewards
to the buyer. Accordingly cost of construction /development is charged
to the profit and loss account in proportion to the revenue recognized
during the period and balance costs are carried as inventories. Amounts
receivable/payable are reflected as Debtors/Advances from Customers,
respectively, after considering income recognized in the aforesaid
manner.
Dividend is accounted for on cash basis.
D) Fixed Assets
1. All the fixed assets have been stated at cost inclusive of
incidental expenses
less accumulated depreciation less impairment if any.
2. Depreciation on Fixed Assets is provided on Straight Line Method at
the rates and in the manner specified in Schedule XIV to the Companies
Act, 1956.
E) Inventories
Inventories are valued at lower of cost and net realizable value.
Mar 31, 2011
A) Accounting Methodology
The accounts have been prepared on historical cost basis of accounting
in accordance with the generally accepted accounting principles and the
provisions of the Companies Act, 1956. The Company adopts the accrual
concept in the preparation of accounts, unless otherwise stated.
B) Investments
Investments classified as long term investments are carried at cost.
Provision for diminution, if any, in the value of investments is made
to recognize a decline, other than, that of a temporary nature.
C) Revenue Recognition
Repayment of housing loans is by way of equated monthly installments
(EMls) comprising principal and interest. Interest is calculated with
monthly rests on the balance outstanding. The Company's income from
this operation is accounted for on an accrual basis, wherever
applicable determined in accordance with the prudential norms
prescribed by the National Housing Bank for the Housing Finance
Companies. Other Revenue/Income and Costs/expenditure (other than
dividend) are accounted for on accrual basis, except in cases where
prudential norms prescribed by NHB are otherwise required to be
observed.
Dividend is accounted for on cash basis.
D) Fixed Assets
1. All the fixed assets have been stated at cost inclusive of
incidental expenses less accumulated depreciation less impairment if
any.
2. Depreciation on Fixed Assets is provided on Straight Line Method at
the rates and in the manner specified in Schedule XIV to the Companies
Act, 1956.
E) Inventories
Inventories are valued at lower of cost and net realizable value.
Mar 31, 2010
A) Accounting Methodology
The accounts have been prepared on historical cost basis of accounting
in accordance with the generally accepted accounting principles and the
provisions of the Companies Act, 1956. The Company adopts the accrual
concept in the preparation of accounts, unless otherwise stated.
B) Investments
Investments classified as long term investments are carried at cost.
Provision for diminution, if any, in the value of investments is made
to recognize a decline, other than, that of a temporary nature.
C) Revenue Recognition
Repayment of housing loans is by way of equated monthly installments
(EMls) com- prising principal and interest. Interest is calculated with
monthly rests on the balance outstanding. The Companys income from
this operation is accounted for on an accrual basis, wherever
applicable determined in accordance with the prudential norms
prescribed by the National Housing Bank for the Housing Finance
Companies. Other Revenue/Income and Costs/expenditure (other than
dividend) are accounted for on ac- crual basis, except in cases where
prudential norms prescribed by NHB are otherwise required to be
observed.
Dividend is accounted for on cash basis.
D) Bad Debts
Bad Debts are written off or provided for on the basis of the
provisioning guidelines for Housing Finance Companies issued by
National Housing Bank. Additional amount is written off if the
management on the review of loans/advances, considers it necessary.
E) Fixed Assets
1. All the fixed assets have been stated at cost inclusive of
incidental expenses less accumulated depreciation less impairment if
any.
2. Depreciation on Fixed Assets is provided on Straight Line Method at
the rates and in the manner specified in Schedule XIV to the Companies
Act, 1956.
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