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Accounting Policies of Net Vista Venture Ltd. Company
Jun 30, 2010
The accounts are prepared under the historical cost convention in
accordance with applicable Accounting Standards and relevant
presentational requirements of the Companies Act, 1956.
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
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.
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
vii) Gratuity/Retirement Benefits are accounted for on payment basis.