Mar 31, 2014
1) GENERAL:
I. The Financial Statement have generally been prepared on the
historical cost convention.
II. Accounting policies not specifically referred to otherwise are in
consonance with generally accepted accounting principles.
2) BASIS OF ACCOUNTING:
The Company follows the mercantile system of accounting generally
except otherwise stated herein below, if so.
3) FIXED ASSETS :
Fixed assets are stated at cost of less accumulated depreciation.
depreciation has been provided. on WDV in accordance with the
provision of section 205(2)(b) of the companies Act,1956 at the rates
specified in the schedule XIV to the said Act.
4) INVESTMENT:
Investments, if any, are stated at cost.
5) REVENUE RECOGNITION:
I. Revenue is recognized only when it is reasonably certain that the
ultimate collection will be made.
6) DEFERRED TAX:
The Deferred tax is recognized for all temporary differences subject
to the consideration of prudence and at currently available rates.
Deferred Tax assets are recognized only if there is virtually
certainty that they will be realized.
Mar 31, 2012
(a) The company follows the accural system of accounting in accorrdance
with the requirement of the Companoies Act, 1956 and complies with the
accounting standards referred to in sub-section 211 of the said Act.
(b) The accounts are prepared on historical cost basis and on the basis
of going concern. Accounting policies not specifically referred to
otherwise are consistent with generally accepted accounting
priniciples.
Mar 31, 2010
1) GENERAL :
I. The Financial Statement have generally been prepared on the
historical cost convention.
II. Accounting policies not specifically referred to otherwise are in
consonance with generally accepted accounting principles.
2) BASIS OF ACCOUNTING:
The Company follows the mercantile system of accounting generally
except otherwise stated herein below, if so.
3) FIXED ASSETS :
Fixed assets are stated at cost of less accumulated depreciation. No
depreciation has been provided. during the year under consideration as
no business activity was under taken during the year
4) INVESTMENT:
Investments, if any, are stated at cost.
5) REVENUE RECOGNITION:
I. Revenue in respect of interest. Overdue Compensation Charges Etc.
is recognized only when it is
reasonably certain that the ultimate collection will be made.
6) MISCELLANEOUS EXPENDITURE :
Miscellaneous Expenditure such as preliminary expenditure are amortized
over a period of 5 years.
7) DEFERED TAX:
The Deferred tax is recognized for all temporary differences subject to
the consideration of prudence and at currently available rates.
Deferred Tax assets are recognized only if there is virtual certainty
that they will be realized
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