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Accounting Policies of Net Vista Venture Ltd. Company

Jun 30, 2010

I) Convention

The accounts are prepared under the historical cost convention in accordance with applicable Accounting Standards and relevant presentational requirements of the Companies Act, 1956.

ii) Investments

Long-term investments are carried at cost. No provision is made for diminution in value of such investments where, in opinion of the Board such diminution is temporary.

iii) Closing Stock of Shares

Closing Stock of shares have been valued scrip wise at lower of cost or market value in case of listed shares. Whereas in case of unlisted shares valuation are decided on the basis of lower of cost or face value. Stock in trade has been taken, valued and certified by the management.

iv) Income and Expenditure

Income and Expenditure are generally recognized on accrual basis.

v) Fixed Assets

Fixed assets have been stated at historical cost inclusive of incidental expenses, less accumulated depreciation.

vi) Depreciation

Depreciation has been provided on SLM method on pro rata basis at the rates and in the manner prescribed in schedule XIV to the Companies Act, 1956.

vii) Gratuity/Retirement Benefits are accounted for on payment basis.

Jun 30, 2009

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Oct 21, 12:00 am
Oct 21, 4:14 pm
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