Mar 31, 2013
1. Basis of Preparation of Financial Statements
The Financial statements are prepared under the historical cost
convention in accordance with the Generally Accepted Accounted
Practices (GAAP) and comply with mandatory accounting standards and
statements issued by the Institute of Chartered Accountants of India
and the Companies Act, 1956. All income and expenditure having a
material bearing on the financial are recognized on accrual basis.
2. Revenue Recognition
Revenue is recognized on the basis of completion of the Sale
Transaction, i.e. as and when the property in the goods is transferred
to the buyer.
3. Fixed Assets and Depreciation
Fixed assets are stated at the cost of acquisition. All direct costs
related to acquisition of fixed assets are capitalized as part of the
cast of such assets till commencement of commercial production. These
costs include freight, installation costs, duties and taxes, and other
allocated expenses, including finance cost that are attributable to
specific borrowing incurred during the acquisition or construction of a
qualifying assets.
Depreciation on fixed assets is provided using the Written Down Value
method based by applying the rates prescribed in Schedule XIV of the
Companies Act, 1956.
4. Borrowing Costs:
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalized as part of the cost
of such assets.
5. Inventories
Items of inventories are measured at cost. Cost of inventories comprise
of all cost of purchase, cost of conversion and other cost incurred in
bringing them to their respective present location and condition.
6. General
Other accounting policies of the company are consistent with generally
accepted accounting policies.
Mar 31, 2012
1. Basis of Preparation of Financial Statements
The Financial statements are prepared under the historical cost
convention in accordance with the Generally Accepted Accounted
Practices (GAAP) and comply with mandatory accounting standards and
statements issued by the Institute of Chartered Accountants of India
and the Companies Act, 1956. AH income and expenditure having a
material bearing on the financial are recognized on accrual basis.
2. Revenue Recognition
Revenue is recognized on the basis of completion of the Sale
Transaction, i.e. as and when the property in the goods is transferred
to the buyer.
3. Fixed Assets and Depreciation
Fixed assets are stated at the cost of acquisition. All direct costs
related to acquisition of fixed assets are capitalized as part of the
cast of such assets till commencement of commercial production. These
costs include freight, installation costs, duties and taxes, and other
allocated expenses, including finance cost that are attributable to
specific borrowing incurred during the acquisition or construction of a
qualifying assets.
Depreciation on fixed assets is provided using the Written Down Value
method based by applying the rates prescribed in Schedule XIV of the
Companies Act, 1956.
4. Borrowing Costs:
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalized as part of the cost
of such assets.
5. Inventories
Items of inventories are measured at cost. Cost of inventories comprise
of all cost of purchase, cost of conversion and other cost incurred in
bringing them to their respective present location and condition.
6. General
Other accounting policies of the company are consistent with generally
accepted accounting policies.
Mar 31, 2011
1. Basis of Preparation of Financial Statements
The Financial statements are prepared under the historical cost
convention in accordance with the Generally Accepted Accounted
Practices (GAAP) and comply with mandatory accounting standards and
statements issued by the Institute of Chartered Accountants of India
and the Companies Act, 1956. All income and expenditure having a
material bearing on the financial are recognized on accrual basis.
2. Revenue Recognition
Revenue is recognized on the basis of completion of the Sale
Transaction, i.e. as and when the property in the goods is transferred
to the buyer.
3. Fixed Assets and Depreciation
Fixed assets are stated at the cost of acquisition. All direct costs
related to acquisition of fixed assets are capitalized as part of the
cast of such assets till commencement of commercial production. These
costs include freight, installation costs, duties and taxes, and other
allocated expenses, including finance cost that are attributable to
specific borrowing incurred during the acquisition or construction of a
qualifying assets.
Depreciation on fixed assets is provided using the Written Down Value
method based by applying the rates prescribed in Schedule XIV of the
Companies Act, 1956.
4. Borrowing Costs:
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalized as part of the cost
of such assets.
5. Inventories
Items of inventories are measured at cost. Cost of inventories comprise
of all cost of purchase, cost of conversion and other cost-incurred in
bringing them to their respective present location arid condition.
6. General
Other accounting policies of the company are consistent with generally
accepted accounting policies.
Mar 31, 2010
The significant accounting policies adopted by the company in
preparation and presentation of its financial statements are briefed as
follows:
1. Basis of Preparation of Financial Statements
The Financial statements are prepared under the historical cost
convention in accordance with the Generally Accepted Accounted
Practices (GAAP) and comply with mandatory accounting standards and
statements issued by the Institute of Chartered Accountants of India
and the Companies Act. 1956. All income and expenditure having a
material bearing on the financial are recognized on accrual basis.
2. Revenue Recognition
Revenue is recognized on the basis of completion of the Sale
Transaction, i.e. as and when the property in the goods is transferred
to the buyer.
3. Fixed Assets and Depreciation
Fixed assets are stated at the cost of acquisition. All direct costs
related to acquisition of fixed assets are capitalized as part of the
cast of such assets till commencement of commercial production. These
costs include freight, installation costs, duties and taxes, and other
allocated expenses, including finance cost that are attributable to
specific borrowing incurred during the acquisition or construction of a
qualifying assets.
Depreciation on fixed assets is provided using the Written Down Value
method based by applying the rates prescribed in Schedule XIV of the
Companies Act, 1956.
4. Borrowing Costs:
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalized as part of the cost
of such assets.
5. Inventories
Items of inventories are measured at cost. Cost of inventories comprise
of all cost of purchase, cost of conversion and other cost incurred in
bringing them to their respective present location and condition.
6. General
Other accounting policies of the company are consistent with generally
accepted accounting policies.
Mar 31, 2009
The significant accounting policies adopted by the company in
preparation and presentation of its financial statements are briefed as
follows:
1. Basis of Preparation of Financial Statements
The Financial statements are prepared under the historical cost
convention in accordance with the Generally Accepted Accounted
Practices (GAAP) and comply with mandatory accounting standards and
statements issued by the Institute of Chartered Accountants of India
and the Companies Act, 1956. All income and expenditure having a
material bearing on the financial statements are recognized on accrual
basis.
2. Revenue Recognition
Revenue is recognised on dispatch of goods to customers. For service
revenues, it is recognised when the service is completed.
3. Fixed Assets and Depreciation
Fixed assets are stated at the cost of acquisition. All direct costs
related to acquisition of fixed assets are capitalized as part of the
cost of such assets till commencement of commercial production. These
costs include freight, installation costs, duties and taxes, and other
allocated expenses, including finance cost that are attributable to
specific borrowing incurred during the acquisition or construction of a
qualifying assets.
Depreciation on fixed assets is provided using the Written down Value
method based by applying the rates prescribed in Schedule XIV of the
Companies Act, 1956.
4. Borrowing Costs:
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalized as part of the cost
of such assets.
5. Inventories
Items of inventories are measured at cost or net realizable value
whichever is lower. Cost of inventories comprise of all cost of
purchase, cost of conversion and other cost incurred in bringing them
to their respective present location and condition.
6. General
Other accounting policies of the company are consistent with generally
accepted accounting policies.