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Accounting Policies of Ridhi Synthetics Ltd. Company

Mar 31, 2014

(a) Use of Estimates - The presentation of financial statements is in conformity with the generally accepted accounting principles requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Difference between the actual and the estimates are recognized in the period in which the results are known/materialized.

(b) Fixed Assets - Fixed assets are stated at cost of acquisition or construction and include incidental expenses.

(c) Depreciation - Depreciation is provided on written down value method as per the provisions of the Income Tax Act, 1961.

(d) Impairment of Assets - An asset is treated as impaired when the carrying cost of asset exceeds its recoverable value. An impairment loss is charged to the Profit and Loss account in the year in which an asset is identified as impaired. The impairment loss recognized in prior accounting periods is reversed if there has been a change in the estimate of the recoverable amount.

(e) Investments - Long Term Investments are carried at cost. However, provision for diminution in value is made to recognise a decline other than temporary in the value of investments.


Mar 31, 2013

(a) Use of Estimates - The presentation of financial statements is in conformity with the generally accepted accounting principles requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Difference between the actual and the estimates are recognized in the period in which the results are known / materiaiized.

(b) Fixed Assets - Fixed assets are stated at cost of aquisition or construction and include incidental expenses.

(c) Depreciation - Depreciation is provided on written down value method as per the provisions of the Income Tax Act, 1961.

(d) Impairment of Assets - An asset is treated as impaired when the carrying cost of asset exceeds its recoverable value. An impairment loss is charged to the Profit and Loss account in the year in which an asset is identified as impaired. The impairement loss recognized in prior accounting periods is reversed if there has been a change in the estimate of the recoverable amount.

(e) Investments - Long Term Investments are carried at cost. However, provision for diminution in value is made to recognise a decline other than temporary in the value of investments.


Mar 31, 2012

(a) Use of Estimates - The presentation of financial statements is in conformity with the generally accepted accounting principles requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Difference between the actual and the estimates are recognized in the period in which the results are known / materialized.

(b) Fixed Assets - Fixed assets are stated at cost of acquisition or construction and include incidental expenses.

(c) Depreciation - Depreciation is provided on written down value method as per the provisions of the Income Tax Act, 1961.

(d) Impairment of Assets - An asset is treated as impaired when the carrying cost of asset exceeds its recoverable value. An impairment loss is charged to the Profit and Loss account in the year in which an asset is identified as impaired. The impairment loss recognized in prior accounting periods is reversed if there has been a change in the estimate of the recoverable amount.

(e) Investments - Long Term Investments are carried at cost. However, provision for diminution in value is made to recognize a decline other than temporary in the value of investments.


Mar 31, 2010

(a) Basis of Preparation of Financial Statements - The financial statements have been prepared under the historical cost convention, in accordance with the generally accepted accounting principles and the provisions of the Companies Act, 1956 as adopted consistently by the Company.

(b) Fixed Assets - Fixed assets are stated at cost of aquisition or construction and include incidental expenses.

(c) Depreciation - Depreciation is provided on written down value method as per the provisions | of the Income Tax Act, 1961.

(d) Investments - Long Term Investments are carried at cost. However, provision for diminution in ! value is made to recognise a decline other than temporary in the value of investments.

(e) Revenue & Expenditure - All income and expenditure having a material bearing on the financial statements are recognised on accrual basis.

1. As the Company does not have distinguishable business segments, the requirement to give segment reporting as per Accounting Standard (AS 17) on Segment Reporting issued by the Institute of Chartered Accountants of India is not applicable.

 
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