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Accounting Policies of Shyamal Holding &Trading Ltd. Company

Mar 31, 2014

1. Basis of preparation

The financial statements are prepared under the historical cost convention in accordance with generally Accepted Accounting principles (GAAP), and the provisions of the Companies Act, 1956 as constantly adopted by the company.

Accounting policies not specifically referred to otherwise are consistently followed and are in consonance with Generally Accepted Accounting Principles.

2. Inventories

Inventories are valued at cost or net realizable value, whichever is less.

3. Retirement Benefits

Retirement benefits payable to the employees are accounted for on cash basis as and when paid.

4. Revenue Recognition

Sales are recognized at the time of dispatch of the goods.


Mar 31, 2013

1. Basis of preparation

The financial statements are prepared under the historical cost convention in accordance with generally Accepted Accounting principles (GAAP), and the provisions of the Companies Act, 1956 as constantly adopted by the company.

Accounting policies not specifically referred to otherwise are consistently followed and are in consonance with Generally Accepted Accounting Principles.

2. Inventories

Inventories are valued at cost or net realizable value, whichever is less.

3 . Retirement Benefits

Retirement benefits payable to the employees are accounted for on cash basis as and when paid.

4. Revenue Recognition

Sales are recognized at the time of dispatch of the goods.


Mar 31, 2012

1. Basis of preparation

The financial statements are prepared under the historical cost convention in accordance with generally Accepted Accounting principles (GAAP)' and the provisions of the Companies Act' 1956 as constantly adopted by the company.

Accounting policies not specifically referred to otherwise are consistently followed and are in consonance with Generally Accepted Accounting Principles.

2. Inventories

Inventories are valued at cost or net realizable value' whichever is less.

3. Retirement Benefits

Retirment benefits payable to the employees are accounted for on cash basis as and when paid.

4. Revenue Recognition

Sales are recognized at the time of dispatch of the goods.


Mar 31, 2010

1. Balance reflected in the accounts of debtors, loans and advances, secured loans and sundry creditors are subject to conformation reconciliation and consequential adjustment if any.

2. In the opinion of the Directors the Current Assets, Loans and Advances have a value on realisation in ordinary course of business or atleast equal to the amount at which they are stated in the Balance Sheet.

3. Major Accounting Policies :

a) The Accounting is prepared under historical cost basis and on the accounting principal of the going concern.

b) Accounting policies not specifically referred to otherwise are inconsonance with general accepted accounting principles.

5. There are no employee who is in receipt of remuneration which in aggregate was not less than Rs.24,00,000/- p.a. if employed throughout the year and Rs.2,00,000/- per month if employed for part of the year, (previous year Nil)

 
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