1.  Basis of accounting
 
 The Financial Statements have been prepared under the Historical Cost
 Convention and on accrual basis in accordance with the accounting
 standards referred to in Section 211 (3C) of the Companies Act, 1956.
 
 2.  Use of estimates
 
 The preparation of financial statements requires the management to make
 estimates and assumptions that affect the reported amounts of assets
 and liabilities, as of the date of the financial statements and the
 reported amount of revenue and expenses of the period. Actual results
 could differ from these estimates. Any revision to estimates is
 recognized prospectively in current and future periods.
 
 3.  Fixed assets
 
 a) Fixed assets are stated at original cost of acquisition/installation
 net of accumulated depreciation, amortisation and impairment losses.
 The cost of fixed assets includes taxes, duties, freight and other
 incidental expenses related to the acquisition and installation of the
 respective assets.
 
 b) Educational Content and software are capitalised as intangible
 assets in the year it is put to use.
 
 c) Cost incurred on development/improvement of leasehold assets is
 capitalised.
 
 d) Capital Work-in-progress includes expenditure incurred upto the date
 of Balance sheet, advances for capital expenditure etc.
 
 4.  Borrowing Costs
 
 Borrowing Costs attributable to the acquisition or construction of
 qualifying assets are capitalised as a part of the cost of such assets.
 All other borrowing costs are charged to revenue.
 
 5.  Impairment of Assets
 
 At each Balance Sheet date, the Company reviews the carrying amount of
 fixed assets to determine whether there is an indication that those
 assets have suffered impairment loss. If any such indication exists,
 the recoverable amount of assets is estimated in order to determine the
 extent of impairment loss. The recoverable amount is higher of the net
 selling price and value in use, determined by discounting the estimated
 future cash flows expected from the continuing use of the asset to
 their present value.
 
 6.  Depreciation/Amortisation
 
 a) Depreciation on tangible fixed assets is provided on Straight Line
 Method at the rates specified in Schedule XIV to the Companies Act,
 1956 except Training equipments which is amortised on straight line
 basis over a period of three years based on managements estimate of
 useful life
 
 b) Leasehold Improvements are amortized over the period of Lease.
 
 c) Intangible assets are amortised on straight line basis over a period
 of three years based on managements estimate of useful life.
 
 7.  Investments
 
 Long-term investment is carried at cost. Provision for diminution in
 value of investment other than temporary is made, wherever applicable.
 
 8.  Revenue Recognition
 
 a) Educational Services
 
 i) Course fees and Royalty income is recognised over the duration of
 the course.  
 
 ii) Franchise fees is recognised as per the agreed terms of the
 agreement.
 
 b) Sale of Educational goods and equipments is recognised when the risk
 and rewards of ownership are passed onto the customers, which is
 generally on dispatch.
 
 c) Interest income is recognised on accrual basis.
 
 9.  Inventories
 
 Educational goods and equipments are valued at lower of cost or
 estimated net realisable value. Cost is determined on the basis of
 weighted average cost. Cost of inventory includes cost of purchase,
 freight and other expense incurred in bringing the inventories to their
 present location and condition.
 
 10.  Employee Benefits
 
 a) Defined Contribution Plan
 
 The retirement benefits in the form of provident fund, the contribution
 payable by the Company is charged to Profit and Loss account of the
 year.
 
 b) Defined Benefit Plan
 
 The Present value of defined benefit obligations and the related
 current service cost are measured using the projected unit credit
 method with actuarial valuation being carried out at each balance sheet
 date. The defined benefit obligations are not funded.
 
 Leave encashment:
 
 Liability for leave encashment is provided on the basis of actuarial
 valuation at the balance sheet date.
 
 Gratuity:
 
 Liability for gratuity for the year is provided on the basis of
 actuarial valuation, as per defined retirement plan covering eligible
 employees. The plan provides payment to vested employees on retirement,
 death or termination of employment of an amount based on the respective
 employees salary and the terms of employment with the Company.
 
 11.  Accounting for Taxes on Income
 
 a) Current Tax is determined as the amount of tax payable in respect of
 taxable income for the period as per the provisions of the Income Tax
 Act, 1961.
 
 b) Deferred Tax is recognized, subject to consideration of prudence, on
 timing difference, being the difference between taxable income and
 accounting income that originate in one period and are capable of
 reversal in one or more subsequent periods and measured using relevant
 enacted tax rates.
 
 12.  Operating Lease
 
 Lease of assets under which all the risk and rewards of ownership are
 effectively retained by the lessor are classified as operating leases.
 Lease rentals under operating leases are recognized as expense on
 accrual basis in accordance with the terms of respective lease
 agreements.
 
 13.  transactions in Foreign Currency
 
 a) Foreign currency transactions are accounted at the exchange rate
 prevailing on the date of such transactions.
 
 b) Foreign currency monetary assets and liabilities at the balance
 sheet date are translated at the closing rate.  gains and losses
 resulting on settlement/translation of monetary assets and liabilities
 on the closing date are recognized in the Profit and Loss account.
 
 14.  earnings Per Share
 
 Basic earnings per share is computed and disclosed using the weighted
 average number of common shares outstanding during the period. Dilutive
 earnings per share is computed and disclosed using the weighted average
 number of common and dilutive common equivalent shares outstanding
 during the period, except when the results would be anti-dilutive.
 
 15.  Provisions, Contingent Liabilities and Contingent assets
 
 Provisions involving substantial degree of estimation in measurement
 are recognized when there is present obligation as a result of past
 events and it is probable that there will be an outflow of resources.
 Contingent Liabilities are not recognized but are disclosed in the
 notes to accounts. Contingent Assets are neither recognized nor
 disclosed in the financial statements.