Accounting Policies of Thirdwave Financial Intermediaries Ltd. Company

Mar 31, 2014

A) Fixed Assets

Fixed Assets are recorded at cost of acquisition. They are stated at historical cost.

b) Depreciation

Depreciation on Fixed Assets is provided on straight line method in accordance with Section 205(2)(b) of the Companies Act, 1956 as per rates specified in Schedule XIV to the Companies Act, 1956.

c) Investments

Investments are stated at cost of acquisition less provision for demunition in value as certified by management and/or on the basis of sale proceeds after balance sheet date.

d) Revenue Recognition

Revenue is recognised when there is reasonable certainty of its ultimate realisation/collection.

e) Profit of Sale of Investments

Profit on sale of investment is accounted reckoning the average cost of the investments.

f) Stock in Trade

The valuation of stock in trade has been made at cost price.

g) Deferred Tax Assets/Liability

The Company has not accounted for deferred tax assets accrued due to carried forward losses.

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Mar 31, 2013

A) Fixed Assets

Fixed Assets are recorded at cost of acquisition. They are stated at historical cost.

b) Depreciation

Depreciation on Fixed Assets is provided on straight line method in accordance with Section 205(2)(b) of the Companies Act, 1956 as per rates specified in Schedule XIV to the Companies Act, 1956.

c) Investments

Investments are stated at cost of acquisition less provision for demunition in value as certified by management and/or on the basis of sale proceeds after balance sheet date.

d) Revenue Recognition

Revenue is recognised when there is reasonable certainty of its ultimate realisation/collection.

e) Profit of Sale of Investments

Profit on sale of investment is accounted reckoning the average cost of the investments.

f) Stock in Trade

The valuation of stock in trade has been made at cost price..

g) Deferred Tax Assets/Liability

The Company has not accounted for deferred tax assets accrued due to carried forward losses.

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Mar 31, 2012

A) Fixed Assets

Fixed Assets are recorded at cost of acquisition. They are stated at historical cost.

b) Depreciation

Depreciation on Fixed Assets is provided on straight line method in accordance with Section 205(2)(b) of the Companies Act, 1956 as per rates specified in Schedule XIV to the Companies Act, 1956.

c) Investments

Investments are stated at cost of acquisition less provision for diminution in value as certified by management and/or on the basis of sale proceeds after balance sheet date.

d) Revenue Recognition

Revenue is recognised when there is reasonable certainty of its ultimate realisation/collection.

e) Profit of Sale of Investments

Profit on sale of investment is accounted reckoning the average cost of the investments.

f) Stock in Trade

The valuation of stock in trade has been made at cost price..

g) Deferred Tax Assets/Liability

The Company has not accounted for deferred tax assets accrued to it for carried forward losses.

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Mar 31, 2011

A) Fixed Assets

Fixed Assets are recorded at cost of acquisition. They are stated at historical cost.

b) Depreciation

Depreciation on Fixed Assets is provided on straight line method in accordance with Section 205(2)(b) of the Companies Act, 1956 as per rates specified in Schedule XIV to the Companies Act, 1956.

c) Investments

Investments are stated at cost of acquisition less provision for demunition in value as certified by management and/or on the basis of sale proceeds after balance sheet date.

d) Revenue Recognition

Revenue is recognised when there is reasonable certainty of its ultimate realisation/collection.

e) Profit of Sale of Investments

Profit on sale of investment is accounted reckoning the average cost of the investments.

f) Stock in Trade

The valuation of stock in trade has been made at cost price..

g) Deferred Tax Assets/Liability

The Company has not accounted for deferred tax assets accrued to it for carried forward losses.

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Mar 31, 2010

A) Investments

Investments are stated at cost of acquisition less provision for demunition in value as certified by management and/or on the basis of sale proceeds after balance sheet date.

b) Revenue Recognition

Revenue is recognised when there is reasonable certainty of its ultimate realisation/collection.

c) Profit of Sale of Investments

Profit on sale of investment is accounted reckoning the average cost of the investments.

d) Stock in Trade

The valuation of stock in trade lias been made at cost or market price whichever is lower.

e) Deferred Tax Assets/Liability

The Company has not accounted for deferred tax assets accrued to it for carried forward losses.

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Mar 31, 2009

A) Fixed Assets

Fixed Assets are recorded at cost of acquisition. They are stated at historical cost.

b) Depreciation

Depreciation on Fixed Assets is provided on straight line method in accordance with Section 205(2)(b) of the Companies Act, 1956 as per rates specified in Schedule XIV to the Companies Act, 1956.

c) Investments

Investments are stated at cost of acquisition less provision for demunition in value as certfied by management and/or on the basis of sale proceeds after balance sheet date.

d) Revenue Recognition

Revenue is recognised when there is reasonable certainty of its ultimate realisation/collection.

e) Profit of Sale of Investments

Profit on sale of investment is accounted reckoning the average cost of the investments.

f) Stock in Trade

The valuation of stock in trade has been made at cost or market price whichever is lower.