Mar 31, 2014
A. Basis ofPreparation:
The financial statements have been prepared in accordance with
generally acccepted accounting principles in India under the historical
cost convention on accrual basis. These financial statements have been
prepared to comply in all material aspects with the Accounting
Standards notified under Section 211(3C). [Companies (Accounting
Standards) Rules, 2006, as amended] and the other relevant provisions
of the Companies Act, 1956
B. Fixed Assets:
Fixed Assets are stated at the cost less accumulated depreciation. Cost
is inclusive of freight, duties, taxes incidental expenses related to
acquisition and also for bringing assets to working for its use.
C. Depreciation:
Depreciation on all assets has been provided on straight line basis as
per rates prescribed under Schedule XIV of the Companies Act,1956
except on Office Premises where depreciation has not been charged.
Depreciation is provided on pro-rata basis from the day on which the
assets have been put to use
D. Investments:
Investments are stated at cost, less amount written off under Scheme
for Reduction of Capital as approved by Hon''ble Calcutta High Court.
E. Revenue Recognition
Revenue is recognised to the extent that it is possible that the
economic benefits will flow to the Company and the revenue can be
reliably measured.
E.1. Sale of Services consultancy : Income from Services is recognised
as per the term of contract contract on accrual basis.
E. 2. Interest Income & Dividend are recognised on cash basis.
F. Expenses
All expenses have been accounted for on accrual basis except interest
which is accounted on cash basis. Service tax is being accounted as
and when paid.
G. ESTIMATES
The preparation of financial statements in conformity with the
generally accepted accounting principles requires management to make
estimates and assumption that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period. Although these estimates are based upon mangement''s best
knowledge of current events and actions, actual results could differ
from these estimates.
H: Gratuity
The Company has taken Group Gratuity policy from Life Insurance
Corporation of India for its employees.
Mar 31, 2013
A. Basis of Preparation :
The financial statements have been prepared in accordance with
generally acccepted accounting principles in India under the historical
cost convention on accrual basis. These financial statements have been
prepared to comply in all material aspects with the Accounting
Standards notified under Section 211(3C) [Companies (Accounting
Standards) Rules, 2006, as amended] and the other relevant provisions
of the Companies Act. 1956.
B. Fixed Assets:
Fixed Assets are stated at the cost less accumulated depreciation. Cost
is inclusive of freight, duties, taxes incidental expenses related to
acquisition and also for bringing assets to working for its use.
C. Depreciation:
Depreciation on all assets has been provided on straight line basis as
per rates prescribed under Schedule XIV of the Companies Act, 1956
except on Office Premises where depreciation has not been charged.
Depreciation is provided on pro-rata basis from the day on which the
assets have been put to use.
D. Investments:
Investments are stated at cost, less amount written off under Scheme
for Reduction of Capital as approved by Hon''ble Calcutta High Court.
E. Revenue Recognition:
Revenue is recognised to the extent that it is possible that the
economic benefits will flow to the Company and the revenue can be
reliably measured.
E.1. Sale of Services consultancy : Income from Services is recognised
as per the term of contract on accrual basis.
E.2. Interest Income & Dividend are recognised on cash basis.
F. Expenses:
All expenses have been accounted for on accrual basis except interest
which is accounted on cash basis. Service tax is being accounted as
and when paid.
G. Estimates:
The preparation of financial statements in conformity with the
generally accepted accounting principles requires management to make
estimates and assumption that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period. Although these estimates are based upon mangement''s best
knowledge of current events and actions, actual results could differ
from these estimates.
H. Gratuity:
The Company has taken Group Gratuity policy from Life Insurance
Corporation of India for its employees.
Mar 31, 2012
A. Basis of Preparation :
The financial statements have been prepared in accordance with
generally acccepted accounting principles in India under the historical
cost convention on accrual basis. These financial statements have been
prepared to comply in all material aspects with the Accounting
Standards notified under Section 211(3C). [Companies (Accounting
Standards) Rules, 2006, as amended] and the other relevant provisions
of the Companies Act, 1956.
B. Fixed Assets:
Fixed Assets are stated at the cost less accumulated depreciation. Cost
is inclusive of freight, duties, taxes incidental expenses related to
acquisition and also for bringing assets to working for its use.
C. Depreciation:
(a) Depreciation on all assets has been provided on straight line basis
as per rates prescribed under Schedule XIV of the Companies Act,1956
except on Office Premises where depreciation has not been
charged.Depreciation is provided on pro-rata basis from the day on
which the assets have been put to use.
D. Investments:
Investments are stated at cost, less amount written off under Scheme
for Reduction of Capital as approved by Hon'ble Calcutta High Court.
E. Revenue Recognition:
Revenue is recognised to the extent that it is possible that the
economic benefits will flow to the Company and the revenue can be
reliably measured.
E. 1. Sale of Services consultancy : Income from Services is recognised
as per the term of contract on accrual basis.
E.2. Interest Income & Dividend are recognised on cash basis.
F. Expenses:
All expenses have been accounted for on accrual basis except interest
which is accounted on cash basis.
G. Estimates:
The preparation of financial statements in conformity with the
generally accepted accounting principles requires management to make
estimates and assumption that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period. Although these estimates are based upon mangement's best
knowledge of current events and actions, actual results could differ
from these estimates.
I. Gratuity:
The Company has taken Group Gratuity policy from Life Insurance
Corporation of India for its employees.
Mar 31, 2011
1. Accounting Convention :
The Financial Statements have been prepared on historical cost
convention and in accordance with normally accepted Accounting
Principles.
2. income Recognition:
All Revenues/Incomes except Dividends, Interest on Debentures are
recognised on accrual basis of accounting.
3. Expenses :
All expenses have been accounted for on accrual basis except Interest
which is accounted on Cash Basis.
4. Fixed Assets :
(a) All Fixed Assets are accounted for at cost inclusive of legal
and/or installation and incidental expenses less depreciation.
(b) Depreciation on all assets has been provided on straight line basis
as per rates prescribed under Schedule XIV of the Companies Act, 1956
except on Office Premises where depreciation has not been charged.
(c) Depreciation is provided on pro-rata basis from the day on which
the assets have been put to use.
5. Investments :
Investments are stated at cost, less amount written off under Scheme
for Reduction of Capital as approved by Hon'ble Calcutta High Court.
6. Gratuity:
The Company has taken Group Gratuity Policy from Life Insurance
Corporation of India for its employees and contribution relating to
previous year liability is being paid in five annual instalments.
Mar 31, 2010
1. Accounting Convention
The Financial Statements have been prepared on historical cost
convention and in accordance with normally accepted
Accounting Principles.
2. Income Recognition
All Revenues/Incomes except Dividends, Interest on Debentures are
recognised on accrual basis of accounting.
3. Ex pen BBS
All expenses have been accounted for on accrual basis except Interest
which Is accounted on Cash Basis.
4. Fixed Assets
(a) All Fixed Assets are accounted for at cost Inclusive of legal
and/or installation and incidental expenses less depreciation.
lb) Depredation on all assets has been provided on straight line basis
as per rates prescribed under Schedule XIV of the Companies Act, 1956
except on Office Premises where depreciation has not been charged,
(c) Depredation is provided on pro-rata basis from the day on which the
assets have been put to use.
5. Investments
Investments are stated at cost, less amount written oft under Scheme
tor Reduction of Capital as approved by Honble
Calcutta High Court.
6. Gratuity
The Company has taken Group Gratuity policy from Life Insurance
Corporation of India for its employees and contribution relating to
previous year liability is being paid in five annual instalments.
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