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Accounting Policies of Zigma Software Ltd. Company

Mar 31, 2012

1. Accounting Convention & Revenue Recognition:

The accounts have been prepared in accordance with historical cost convention and following mercantile basis of accounting except bonus, which is accounted for on cash basis. Income & Expenditure have been accounted for on mercantile basis.

2. Investments:

Long-term investments are stated at Cost. In case there is diminution in the value of Investments the same has not been accounted for.

3. Inventory:

(i) Raw Material : At cost.

(ii) Work-in-progress : At estimated cost.

(iii) Finished Goods : At cost or market price whichever is lower.

4. Fixed Assets:

1) Fixed Assets are stated at cost of acquisition including freight, taxes, duties and other incidental expenses related to acquisition and installation.

2) Depreciation on Fixed Assets is provided in accordance with the rates specified in Schedule XIV ofthe Companies Act, 1956 as amended on written down value method.

5. Unpaid Dividend amounting to Rs.4,98,300.00 shown in previous years account as contra in both liabilities and Asset under current liabilities and current Assets respectively which has not been considered in this account as there is no provision in the Account. But that may be considered us contingent liabilities for future payment obligation in subsequent years.

6. The Company has performed some Agricultural Business during the year ofthe nature of Bio-Tech and Agricultural Products.

7. Sales:

Sales are accounted for on raising of Bills.

8. Amortization of Miscellaneous Expenditure:

Preliminary and Share Issue expenses are amortised over a period of Ten years.


Mar 31, 2011

1. Accounting Convention & Revenue Recognition:

The accounts have been prepared in accordance with historical cost convention and following mercantile basis of accounting except bonus, which is accounted for on cash basis. Income & Expenditure have been accounted for on mercantile basis.

2. Investments:

Long-term investments are stated at Cost. In case there is diminution in the value of Investments the same has not been accounted for.

3. Inventory:

(i) Raw Material: At cost.

(ii) Work-in-progress : At estimated cost.

(iii) Finished Goods : At cost or market price whichever is lower.

4. Fixed Assets:

1) Fixed Assets are stated at cost of acquisition including freight, taxes, duties and other incidental expenses related to acquisition and installation.

2) Depreciation on Fixed Assets is provided in accordance with the rates specified in Schedule XIV of the Companies Act, 1956 as amended on written down value method.

5. The Company has performed some Agricultural Business during the year of the nature of Bio-Tech and Agricultural Products.

6. Sales:

Sales is accounted for on raising of Bills.

7. Amortization of Miscellaneous Expenditure:

Preliminary and Share Issue expenses are amortised over a period of Ten years.


Mar 31, 2010

1. Accounting Convention & Revenue Recognition:

The accounts have been prepared in accordance with historical cost convention and following mercantile basis of accounting except bonus, which is accounted for on cash basis. Income & Expenditure have been accounted for on mercantile basis.

2. Investments:

Long-term investments are stated at Cost. In case there is diminution in the value of Investments the same has not been accounted for.

3. Inventory:

(i) Raw Material: At cost.

(ii) Work-in-progress : At estimated cost.

(iii) Finished Goods : At cost or market price whichever is lower. -

4. Fixed Assets:

1) Fixed Assets are stated at cost of acquisition including freight, taxes, duties and other incidental expenses related to acquisition and installation.

2) Depreciation on Fixed Assets is provided in accordance with the rates specified in Schedule XIV of the Companies Act, 1956 as amended on written down value method.

5. The Company has performed some Agricultural Business during the year of the nature of Bia-Tech and Agricultural Products.

6. Sales:

Sales is accounted for on raising of Bills.

7. Amortization of Miscellaneous Expenditure:

Preliminary and Share Issue expenses are amortised over a period of Ten years.

 
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