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Accounting Policies of RR Securities Ltd. Company

Mar 31, 2014

A) METHOD OF ACCOUNTING :

The accounts of the Company are prepared under the Historical Cost Convention using the accrual method of accounting.

The Accounts have been prepared on Mercantile Method of Accounting.

b) REVENUE RECOGNITION :

All Incomes to the extent considered receivable respectively, unless specifically stated to be otherwise are accounted for on Accrual basis and except otherwise stated are on the same basis as adopted in the previous year.

(i) SALES AND INCOME :

The Sales are recorded when Bill of sale received in accordance with the terms of sales and on change of title in the goods and is inclusive of taxes. The Sales is shown Gross and discount is debited to kasar-vatav Account and sales returns are accounted separately.

The Income of Interest is accounted on accrual basis.

The Other Income is recognised to the extent and as and when considered / found receivable.

(ii) PURCHASE AND EXPENSES :

The purchases are shown net of taxes and tax set off.

The major items of the expenses are accounted for on time pro-rata basis and necessary provisions for the same are made.

c) FIXED ASSETS :

The Fixed Assets are stated at the cost and the related expenses like freight, taxes and other incidental and erection expenses are added to asset to bring asset in working condition for their intended use.

d) DEPRECIATION :

The Depreciation of Fixed Assets is provided as per the Straight Line Method at the rates specified in Schedule XIV of the Companies Act, 1956.

e) INVESTMENTS :

The investments are shown at cost and are inclusive of related expenses less any provision for permanent diminution in value.

f) INVENTORY :

Valuations of Inventories are at the Cost or Net Realisable Value whichever is less.

g) RETIREMENT BENEFITS :

Gratuity and Provident Fund Act are not applicable to the Company hence provi- sion is not made.


Mar 31, 2013

A) METHOD OF ACCOUNTING:

The accounts of the Company are prepared under the Historical Cost Convention using the accrual method of accounting.

The Accounts have been prepared on Mercantile Method of Accounting

b) REVENUE RECOGNITION

All Incomes to the extent considered receivable respectively, unless specifically stated to be otherwise are accounted for on Accrual basis and except otherwise stated are on the same basis as adopted in the previous year.

(i) SALES AND INCOME:

The Sales are recorded when Bill of sale received in accordance with the terms of sales and on change of title in the goods and is inclusive of taxes. The Sales is shown Gross and discount is debited to kasar-vatav Account and sales returns are accounted separately

The Income of Interest is accounted on accrual basis

The Other Income is recognized to the extent and as and when considered / found receivable

(c) PURCHASE AND EXPENSES:

The purchases are shown net of taxes and tax set off

The major items of the expenses are accounted for on time pro-rata basis and necessary provisions for the same are made

c) FIXED ASSETS:

The Fixed Assets are stated at the cost and the related expenses like freight, taxes and other incidental and erection expenses are added to asset to bring asset in working condition for their intended use

d) DEPRECIATION:

The Depreciation of Fixed Assets is provided as per the Straight Line Method at the rates specified in Schedule XIV of the Companies Act, 1956.

e) INVESTMENTS:

The investments are shown at cost and are inclusive of related expenses less any provision for permanent diminution in value.

f) INVENTORY:

Valuation of Inventories are at the Cost or Net Realizable Value whichever is less.

g) RETIREMENT BENEFITS:

Gratuity and Provident Fund Act are not applicable to the Company hence provision is not made.


Mar 31, 2012

A) METHOD OF ACCOUNTING:

The accounts of the Company are prepared undei the Historical Cost Convention using the accrual method of accounting

The Accounts have beert prepared on Mercantile Method of Accounting

b) REVENUE RECOGNITION

All Incomes to the extent considered receivable respectively, unless specifically stated to be otherwise are accounted for on Accrual basis and except otherwise stated are on the same basts as adopted in the previous year.

(c) SALES AND INCOME:

The Sales are recorded when Bill of sale received in accordance with the terms of sales and on change of title in the goods and is inclusive of taxes The Sates is shown Gross and discount is debited 1o kasat vatav Account and sales returns is accounted separately

The Income of Interest is accounted on accrual basis.

The Other fncome is recognised to the extent and as and when considered / found receivable

(ii) PURCHASE AND EXPENSES:

The purchases are shown net of taxes and tax set off.

The major items of the expenses are accounted for en lime pro-rata basis and necessary provisions for the same are made.

c) FIXED ASSETS:

The Fixed Assets are stated at the cost and the related expenses like freight taxes and other incidental and erection expenses are added to asset to bring asset in working condition for their intended use.

d) DEPRECIATION:

The Depreciation of Fixed Assets ts provided as per the Straight Line Method at the rates specified in Schedule XIV of the Companies Acl. 1956,

e) INVESTMENTS:

The investments are shown at cost and are inclusive ot related expenses less any provision for permanent diminution in value

f) INVENTORY:

Valuation of Inventories are ai the Cost or Net Realisable Value whichever is less.

g) RETIREMENT BENEFITS:

Gratuity and Provident Fund Act are not applicable to the Company hence provision is not made.


Mar 31, 2010

A) METHOD OF ACCOUNTING

The accounts of the Company are prepared under the Historical Cost Convention using the acrual method of accounting.

The Accounts have been prepared on Mercantile Method of Accounting.

b) REVENUE RECOGNITION

All Incomes to the extent considered receivable respectively, unless specifically stated to be otherwise are accounted for on Accrual basis and except otherwise stated are on the same basis as adopted in the previous year.

(i) SALES AND INCOME:

The Sales are recorded when Bill of sale received in accordance with the terms of sales and on change of title in the goods and is inclusive of taxes. The Sales is shown Gross and discount is debited to kasar-vatav Account and sales returns is accounted seperately.

The Income of Interest is accounted on accrual basis.

The Other Income is recognised to the extent and as and when considered / found receivable.

(ii) PURCHASES AND EXPENSES:

The purchases are shown net of taxes and tax set off.

The major items of the expenses are accounted for on time pro-rata basis and necessary provisions for the same are made.

c) FIXED ASSETS:

The fixed Assets are stated at the cost and the related expenses like freight, taxes and other incidental and exection expenses are added to asset to bring asset in working condition for their intended use.

d) DEPRECIATION:

The Depreciation of Fixed Assets is provided as per the Straight Line Method at the rate specified in Schedule XIV of the Companies Act, 1956.

e) INVESTMENTS :

The investments are shown at cost and are inclusive of related expenses less any provision for permanent diminution in value.

f) INVENTORY:

Valuation of Inventories are at the Cost or Net Realisable Value whichever is less.

g) RETIREMENTS BENEFITS:

Gratuity and Provident Fund Act are not applicable to the Company hence provision is not made.

 
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