Indo American Optics

  * Fixed Assets
 
 (i) Fixed assets are stated at historical cost is inclusive of
 freight, installation cost, duties, taxes and other incidental
 expenses.
 
 (ii) Depreciation is provided on written down value method at the
 rates specified in schedule XIV of the Companies Act, 1956 for
 prorata basis.
 
  * Inventories
 
 (i) Raw materials are valued at cost.
 
 (ii) Work in progress are valued at cost.
 
 (iii) Finished goods are valued at cost or market value which ever is
 lower.
 
  * Preliminary and Share issue expenses
 
 Preliminary expenses are written off over a period of ten years.
 
  * Deferred revenue expenditure
 
 Deferred revenue expenditure comprising of know how fees is amortised
 over a period of six year
 
  * Foreign Travelling Expenses
 
 Foreign Travelling Expenses : NIL