1. BASIS OF ACCOUNTING
The company prepares its financial statement in accordance with
generally accepted accounting Principals.
2. INCOME AND EXPENDITURE
Income and expenditure are accounted for on accrual basis.
3. FIXED ASSETS AND DEPRECIATION
a) Fixed Assets:
i) Fixed assets are stated at their cost of acquisition including
expenditure on installation less depreciation.
i) Depreciation has been provided for on all assets except help land
notamortized on straight line Method at he notes specified Schedule XIV
of the companies, Act 41 &§&
4. MISCELLANEOUS EXPENDITURE
Preliminary expenses & Public issue expenses are amortized over a
period ten year
i) Valuation of Stock
a) Raw Material (Laying since earlier Year) At realizable Cost
6. CONTINGENT LIABILITIES.
Contingent liabilities are determined on the basis of available
information and are disclosed by note§ to accounts.