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Accounting Policies of Ranklin Solutions Ltd. Company

Mar 31, 2011

A) Accounting Convention:

The Company follows the mercantile system of accounting, recognising income and expenditure on accrual basis. However, no interest is provided on Non Performing Assets as per Reserve Bank of India norms. The Accounts are prepared on historical cost basis and as a going concern.

b) Fixed Assets:

Fixed Assets are stated at cost less depreciation.

c) Depreciation:

Depreciation on assets is provided on Straight Line Method as per the rates prescribed in Schedule XIV of the Companies Act, 1956 and rules framed there under.

d) The accrual system of accounting is followed.

e) Investments:

Investments are valued at Cost and are treated as Long Term Investments.


Mar 31, 2010

A) Accounting Convention:

The Company follows the mercantile system of accounting, recognising income and expenditure on accrual basis. However, no interest is provided on Non Performing Assets as per Reserve Bank of India norms. The Accounts are prepared on historical cost basis and as a going concern.

b) Fixed Assets:

Fixed Assets are stated at cost less depreciation.

c) Depreciation:

Depreciation on assets is provided on Straight Line Method as per the rates prescribed in Schedule XIV of the Companies Act, 1956 and rules framed there under.

d) Preliminary and Pre-operative expenses are amortised over a period of 10 years.

e) The accrual system of accounting is followed.

f) Deferred Revenue expenditure is amortised over a period of 4 years.

g) Investments:

Investments are valued at Cost and are treated as Long Term Investments.

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