Mar 31, 2015
(i) BASIS FOR PREPARATION OF FINANCIAL STATEMENTS.
The financial statements have been prepared under the historical cost
convention, in accordance with Accounting Standards issued by the
Institute of Chartered Accountants of India and the provisions of the
Companies Act, 2013, as adopted consistently by the company. All income
and expenditure having a material bearing on the financial statements
are recognized on accrual basis.
(ii) REVENUE RECOGNITION.
The Company follows the mercantile system of accounting and recognizes
income and expenditure on accrual basis except in case of significant
uncertainties.
(iii) FIXED ASSETS AND DEPRECIATION.
Fixed Assets are value at cost less depreciation. The depreciation has
been calculated as prescribed in Companies Act, 2013 on single shift
and if the Asset is purchased during the year depreciation is provided
on the days of utilisation in that year.
Mar 31, 2014
(i) BASIS FOR PREPARATION OF FINANCIAL STATEMENTS.
The financial statements have been prepared under the historical cost
convention, in accordance with 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. All income
and expenditure having a material bearing on the financial statements
are recognized on accrual basis.
(ii) REVENUE RECOGNITION.
The Company follows the mercantile system of accounting and recognizes
income and expenditure on accrual basis except in case of significant
uncertainties.
(iii) FIXED ASSETS AND DEPRECIATION.
Fixed Assets are value at cost less depreciation. The depreciation has
been calculated at the rates provided as per Companies Act, 1956 on
single shift and if the Asset is purchased during the year depreciation
is provided on the days of utilisation in that year.
Mar 31, 2007
Method of Accounting
The Books of Accounting are maintained on accrual basis.
Fixed Assets
Alt fixed assets are valued and accounted at historical cost to the
Company.
Depreciation
Has been provided on straight-line method at rates prescribed in
Schedule XIV of the Companies Act, 1956
Amortization of Expenditure.
Preliminary Expenditure amortized over a period of 10 /ears.
Investments
Investments are slated at cost.
Treatment of Contingent Liabilities.
Contingent liabilities are disclosed by way of notes on accounts.
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