A) ACCOUNTING METHOD
The Accounts have been prepared as per historical cost conversion on an
B) FIXED ASSETS
Fixed Assets are stated at their cost of acquisition including expenses
less accumulated depreciation.
Investments are stated at cost.
Computer peripherals & C. D. are valued at cost or market value
whichever is lower.
E) PRELIMINARY AND PUBLIC ISSUE EXPENSES
Preliminary expenses and public issue expenses are written off in ten
equal annual instalments. Expenses incurred after 01.04.99 to be
amortised over a period of five years.
Depreciation is provided on straight line method in accordance with
provision of section 205(2)(b) and at the rates prescribed in schedule
XIV of the Companies Act, 1956 and any amendment there to from time to
time, on pro rata basis with respect to the period of use.
G) RETIREMENT BENEFITS
Gratuity and other retirement benefits are being accounted for on cash
H) REVENUE RECOGNITION
The Revenue of the company have been accounted for on accrual basis
except the income from accounts in default, which shall be accounted as
and when received.