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Accounting Policies of Suryakrupa Finance Ltd. Company

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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