(a) System of Accounting
i) The Company follows the mercantile system of accounting and
recognizes income and expenditure on accrual basis unless otherwise
ii) The Accounts are prepared under historical cost convention, as a
going concern and generally in accordance with applicable accounting
(b) Fixed Assets and Depreciation
i) Fixed Assets are stated at cost of acquisition less depreciation.
ii) Depreciation on fixed asset has been provided using the Straight
Line Method at the rates prescribed in the Schedule XIV of Companies
iii) Depreciation on additions to fixed asset is provided on pro-rata
basis from the date of such addition, as the case may be.
(c) Employee Benefit :
As provisions of Provident Fund Act and Employees state Insurance
scheme are not applicable to Company and hence no accounting policy
decided by the company. There is no scheme for leave encashment to
(d) Income from operations:
Income from operations are recognized on sale, transfer of rights to
broadcast and goods
Investments are classified in to Current and long term. Long term
investments are stated at cost less provision, if any, for decline
other than temporary in their value.