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Moneycontrol.com India | Accounting Policy > Hotels > Accounting Policy followed by Golden Tourist Resorts and developers - BSE: 531992, NSE: N.A
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Golden Tourist Resorts and developers

BSE: 531992|SECTOR: Hotels
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Golden Tourist Resorts and developers is not traded in the last 30 days
Golden Tourist Resorts and developers is not listed on NSE
Accounting Policy Year : Mar '00
 1. SIGNIFICANT ACCOUNTING POLICIES
 
 A. BASIS OF ACCOUNTING
 
 The Company adopts mercantile basis of accounting on historical cost
 concept basis except where otherwise stated.
 
 B. FIXED DEPOSITS
 
 Fixed assets are stated at their original cost including overheads and
 other incidental expenses thereon except land in Uttar Pradesh which is
 stated at predetermined contract price irrespective of value in
 registration deed with revenue authorities.
 
 C. DEPRECIATION
 
 Depreciation on all Fixed Assets is provided on straight line method on
 pro-rata basis at rates specified in schedule XIV of the Companies Act,
 1956.  Pro-rata basis has been taken as full month in which addition
 have been made.
 
 D. PRELIMINARY EXPENSES
 
 During the year, 1/10 of the preliminary expenses are written off in
 Profit and Loss Account.
 
 E. PUBLIC ISSUE EXPENSES
 
 During the year, 1/10 of the Public Issue expenses are written off in
 the Profit and Loss Account.
 
 F. TRANSLATION OF TRANSACTIONS IN FOREIGN CURRENCY
 
 The transactions in foreign currency have been accounted for by
 applying the foreign exchange rate prevailing at the date of
 transaction.
 
 G. INVENTORIES
 
 Inventories are valued at cost or net realisable value which ever is
 less as certified by the management.
 
 H. LEASE
 
 Lease rentals are expensed with reference to lease terms and other
 considerations.
Source : Dion Global Solutions Limited
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