Mar 31, 2011
(1) Basis of Accounting
The accounts have been prepared on the basis of historical costs and in
accordance with applicable accounting standards except where otherwise
stated. The company has adopted accrual method of accounting
(2) Fixed Assets
I. Fixed Assets are stated at cost less depreciation. Cost comprises
the purchase price and any attributable cost of bringing the assets to
working condition for its intended use.
II. Expenditure for additions, improvements and renewals are
capitalised and expenditure for maintenance and repairs is charged to
the Profit & Loss Account. When assets are sold or discarded, their
cost and accumulated depreciation is removed from the accounts and any
gain or loss, resulting from their disposal is included in the Profit &
Loss Account.
III. Capital work-in-progress
Advances paid towards the acquisition of fixed assets, and the cost of
assets not put to use before the year-end, are disclosed with the
capital work-in- progress.
(3) Depreciation
Depreciation is provided using the Straight Line Method at the rates
anb in the manner specified in Schedule XIV to the Companies Act, 1956
other than on Plant & Machinery and Digital Content. Depreciation on
additions during the year is provided on a pro-rata basis from the date
of addition. Plant & Machinery mainly consist of computers and
peripherals and the rate of depreciation @ 20% has been applied and
depreciation on Digital Content have been provided @ 17.5% keeping in
view the useful life of the assets.
(4) Inventories
Inventories are valued at the lower of cost or estimated net realisable
value.
(5) Revenue Recognition
(i) Sales are net of Tax, where applicable.
(ii) Expenses are net of recoveries where applicable.
(6) Foreign Currency Transaction
(i) Transactions in Foreign Currencies for Import of Material are
converted at the rates prevailing on the date of transaction.
(ii) Current Assets realizable in Foreign Currency and Liabilities
payable in Foreign Currency (other than for the Purchase of Fixed
Assets) are not restated at the year end, however the exchange
gain/loss arising out of the rates prevailing on the date of remittance
is taken effected.
(iii) No liabilities incurred for the acquisition of Fixed Assets, the
loss or gain arising on account of difference in exchange rate, as at
the year end, is regarded as an adjustment of the cost of the relevant
assets, and the same is included in the carrying amount of the related
Fixed Assets.
(7) Research and Development
Research and Development expenses, of revenue nature, are charged to
the Profit and Loss Account of the year in which they are incurred and
those of capital nature are shown as addition to the respective fixed
assets.
(8) Retirement Benefits
Provision for gratuity has been made as per the provisions of the
Payment of Gratuity Act, 1972.
(9) Amortization of Miscellaneous Expenditure
Preliminary Expenses & Public Issue Expenses are written off over a
period of ten years.
Mar 31, 2010
(1) Basis of Accounting
The accounts have been prepared on the basis of historical costs and in
accordance with applicable accounting standards except where otherwise
stated. The company has adopted accrual method of accounting.
(2) Fixed Assets
I. Fixed Assets are stated at cost less depreciation. Cost comprises
the purchase price and any attributable cost of bringing the assets to
working condition for its intended use.
II. Expenditure for additions, improvements and renewals are
capitalised and expenditure for
maintenance and repairs is charged to the Profit & Loss Account. When
assets are sold or discarded, their cost and accumulated depreciation
is removed from the accounts and any gain or loss, resulting from their
disposal is included in the Profit & Loss Account.
III. Capital work-in-progress
Advances paid towards the acquisition of fixed assets, and the cost of
assets not put to use before the year-end, are disclosed with the
capital work-in-progress.
(3) Depreciation
Depreciation is provided using the Straight Line Method at the rates
and in the manner specified in Schedule XIV to the Companies Act, 1956
other than on Plant & Machinery and Digital Content. Depreciation on
additions during the year is provided on a pro-rata basis from the date
of addition. Plant & Machinery mainly consist of computers and
peripherals and the rate of depreciation @ 20% has been applied and
depreciation on Digital Content have been provided @ 17.5% keeping in
view the useful life of the assets.
(4) Inventories
Inventories are valued at the lower of cost or estimated net realisable
value.
(5) Revenue Recognition
(i) Sales are net of Tax, where applicable.
(ii) Expenses are net of recoveries where applicable.
(6) Foreign Currency Transaction
(i) Transactions in Foreign Currencies for Import of Material are
converted at the rates prevailing on the date of transaction.
(ii) Current Assets realizable in Foreign Currency and Liabilities
payable in Foreign Currency (other than for the Purchase of Fixed
Assets) are not restated at the year end, however the exchange
gain/loss arising out of the rates prevailing on the date of remittance
is taken effected.
(iii) No liabilities incurred for the acquisition of Fixed Assets, the
loss or gain arising on account of difference in exchange rate, as at
the year end, is regarded as an adjustment of the cost of the relevant
assets, and the same is included in the carrying amount of the related
Fixed Assets.
(7) Research and Development
Research and Development expenses, of revenue nature, are charged to
the Profit and Loss Account of the year in which they are incurred and
those of capital nature are shown as addition to the respective fixed
assets.
(8) Retirement Benefits
Provision for gratuity has been made as per the provisions of the
Payment of Gratuity Act, 1972.
(9) Amortization of Miscellaneous Expenditure
Preliminary Expenses & Public Issue Expenses are written off over a
period of ten years.
Mar 31, 2009
(1) Basis of Accounting
The accounts have been prepared on the basis of historical costs and in
accordance with applicable accounting standards except where otherwise
stated. The company has adopted accrual method of accounting.
(2) Fixed Assets
I. Fixed Assets are stated at cost less depreciation. Cost comprises
the purchase price and any attributable cost of bringing the assets to
working condition for its intended use.
II. Expenditure for additions, improvements and renewals are
capitalised and expenditure for maintenance and repairs is charged to
the Profit & Loss Account. When assets are sold or discarded, their
cost and accumulated depreciation is removed from the accounts and any
gain or loss, resulting from their disposal is included in the Profit &
Loss Account.
III. Capital work-in-progress
Advances paid towards the acquisition of fixed assets, and the cost of
assets not put to use before the year-end, are disclosed with the
capital work-in-progress.
(3) Depreciation
Depreciation is provided using the Straight Line Method at the rates
and in the manner specified in Schedule XIV to the Companies Act, 1956
other than on Plant & Machinery and Digital Content. Depreciation on
additions during the year is provided on a pro-rata basis from the date
of addition. Plant & Machinery mainly consist of computers and
peripherals and the rate of depreciation @ 20% has been applied and
depreciation on Digital Content have been provided @ 17.5% keeping in
view the useful life of the assets.
(4) Inventories
Inventories are valued at the lower of cost or estimated net realisable
value.
(5) Revenue Recognition
(i) Sales are net of Tax, where applicable.
(ii) Expenses are net of recoveries where applicable.
(6) Foreign Currency Transaction
(i) Transactions in Foreign Currencies for Import of Material are
converted at the rates prevailing on the date of transaction.
(ii) Current Assets realizable in Foreign Currency and Liabilities
payable in Foreign Currency (other than for the Purchase of Fixed
Assets) are not restated at the year end, however the exchange
gain/loss arising out of the rates prevailing on the date of remittance
is taken effected.
(iii) No liabilities incurred for the acquisition of Fixed Assets, the
loss or gain arising on account of difference in exchange rate, as at
the year end, is regarded as an adjustment of the cost of the relevant
assets, and the same is included in the carrying amount of the related
Fixed Assets.
(7) Research and Development
Research and Development expenses, of revenue nature, are charged to
the Profit and Loss Account of the year in which they are incurred and
those of capital nature are shown as addition to the respective fixed
assets.
(8) Retirement Benefits
Provision forgratuity has been made as perthe provisions of the Payment
of Gratuity Act ,1972.
(9) Amortization of Miscellaneous Expenditure
Preliminary Expenses & Public Issue Expenses are written off over a
period often years.
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