Home  »  Company  »  Saumya Capital  »  Quotes  »  Accounting Policy
Enter the first few characters of Company and click 'Go'

Accounting Policies of Saumya Capital Ltd. Company

Mar 31, 2015

(i) BASIS FOR PREPARATION OF FINANCIAL STATEMENTS.

The financial statements have been prepared under the historical cost convention, in accordance with Accounting Standards issued by the Institute of Chartered Accountants of India and the provisions of the Companies Act, 2013, as adopted consistently by the company. All income and expenditure having a material bearing on the financial statements are recognized on accrual basis.

(ii) REVENUE RECOGNITION.

The Company follows the mercantile system of accounting and recognizes income and expenditure on accrual basis except in case of significant uncertainties.

(iii) FIXED ASSETS AND DEPRECIATION.

Fixed Assets are value at cost less depreciation. The depreciation has been calculated as prescribed in Companies Act, 2013 on single shift and if the Asset is purchased during the year depreciation is provided on the days of utilisation in that year.


Mar 31, 2014

(i) BASIS FOR PREPARATION OF FINANCIAL STATEMENTS.

The financial statements have been prepared under the historical cost convention, in accordance with Accounting Standards issued by the Institute of Chartered Accountants of India and the provisions of the Companies Act, 1956, as adopted consistently by the company. All income and expenditure having a material bearing on the financial statements are recognized on accrual basis.

(ii) REVENUE RECOGNITION.

The Company follows the mercantile system of accounting and recognizes income and expenditure on accrual basis except in case of significant uncertainties.

(iii) FIXED ASSETS AND DEPRECIATION.

Fixed Assets are value at cost less depreciation. The depreciation has been calculated at the rates provided as per Companies Act, 1956 on single shift and if the Asset is purchased during the year depreciation is provided on the days of utilisation in that year.


Mar 31, 2007

Method of Accounting

The Books of Accounting are maintained on accrual basis.

Fixed Assets

Alt fixed assets are valued and accounted at historical cost to the Company.

Depreciation

Has been provided on straight-line method at rates prescribed in Schedule XIV of the Companies Act, 1956

Amortization of Expenditure.

Preliminary Expenditure amortized over a period of 10 /ears.

Investments

Investments are slated at cost.

Treatment of Contingent Liabilities.

Contingent liabilities are disclosed by way of notes on accounts.

 
Subscribe now to get personal finance updates in your inbox!