Mar 31, 2014
(a) Use of Estimates - The presentation of financial statements is in
conformity with the generally accepted accounting principles requires
estimates and assumptions to be made that affect the reported amount of
assets and liabilities on the date of the financial statements and the
reported amount of revenues and expenses during the reporting period.
Difference between the actual and the estimates are recognized in the
period in which the results are known / materialized.
(b) Fixed Assets - Fixed assets are stated at cost of aquisition or
construction including incidental expenses related to the acquisition
or construction of the asset and the same are shown net of accumulated
depreciation.
(c) Depreciation - Depreciation on fixed assets used for the purpose of
business is provided on written down value basis as per the provisions
of the Income Tax Act, 1961.
(d) Investments - Long Term Investments are carried at cost. However,
provision for diminution in value is made to recognise a decline other
than temporary in the value of investments.
(e) Impairment of Assets - An asset is treated as impaired when the
carrying cost of asset exceeds its recoverable value. An impairment
loss is charged to the Profit and Loss account in the year in which an
asset is identified as impaired. The impairement loss recognized in
prior accounting periods is reversed if there has been a change in the
estimate of the recoverable amount.
(f) Revenue & Expenditure - All income and expenditure having a
material bearing on the financial statements are recognised on
accrual basis.
Mar 31, 2013
(a) Use of Estimates - The presentation of financial statements is in
conformity with the generally accepted accounting principles requires
estimates and assumptions to be made that affect the reported amount of
assets and liabilities on the date of the financial statements and the
reported amount of revenues and expenses during the reporting period.
Difference between the actual and the estimates are recognized in the
period in which the results are known / materialized.
(b) Fixed Assets - Fixed assets are stated at cost of aquisition or
construction including incidental expenses related to the acquisition
or constFuction of the asset and the same are shown net of accumulated
depreciation.
(c) Depreciation - Depreciation on fixed assets used for the purpose of
business is provided on written down value basis as per the provisions
of the Income Tax Act, 1961.
(d) Investments - Long Term Investments are carried at cost. However,
provision for diminution in value is made to recognise a decline other
than temporary in the value of investments.
(e) Impairment of Assets - An asset is treated as impaired when the
carrying cost of asset exceeds its recoverable value. An impairment
loss is charged to the Profit and Loss account in the year in which an
asset is identified as impaired. The impairement loss recognized In
prior accounting periods is reversed if there has been a change in the
estimate of the recoverable amount.
(f) Revenue & Expenditure - All income and expenditure having a material
on me financial statements are recognised on accrual basis.
Mar 31, 2012
(a) Use of Estimates - The presentation of financial statements is in
conformity with the generally ; accepted accounting principles requires
estimates and assumptions to be made that affect the reported amount of
assets and liabilities on the date of the financial statements and the
reported amount of revenues and expenses during the reporting period.
Difference between the actual and the estimates are recognized in the
period in which the results are known / materialized.
(b) Fixed Assets - Fixed assets are stated at cost of acquisition or
construction including ; incidental expenses related to the acquisition
or construction of the asset and the same are shown net of accumulated
depreciation.
(c) Depreciation - Depreciation on fixed assets used for the purpose of
business is provided on written down value basis as per the provisions
of the Income Tax Act, 1961.
(d) Investments - Long Term Investments are carried at cost. However,
provision for diminution in value is made to recognize a decline other
than temporary in the value of investments.
(e) Impairment of Assets - An asset is treated as impaired when the
carrying cost of asset exceeds ; its recoverable value. An impairment
loss is charged to the Profit and Loss account in the year in which an
asset is identified as impaired. The impairment loss recognized in
prior accounting periods is reversed if there has been a change in the
estimate of the recoverable amount.
(f) Revenue & Expenditure - All income and expenditure having a
material bearing on the financial ; statements are recognized on
accrual basis.
Mar 31, 2010
(a) Basis of Preparation of Financial Statements - The financial
statements have been prepared under the historical cost convention, in
accordance with the Accounting Standards issued by the Institute of
Chartered Accountants of India and the provisions of the Companies Act,
1956 as adopted consistently by the company.
(b) Fixed Assets - Fixed assets are stated at cost of aquisition or
construction including incidental expenses related to the acquisition
or construction of the asset and the same are shown net of accumulated
depreciation.
(c) Depreciation - Depreciation on fixed assets used for the purpose of
business is provided on written down value basis as per the provisions
of the Income Tax Act, 1961.
(d) Investments - Long Term Investments are carried at cost. However,
provision for diminution in value is made to recognise a decline other
than temporary in the value of investments.
(e) Revenue & Expenditure - All income and expenditure having a
material bearing on the financial statements are recognised on accrual
basis.