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Moneycontrol.com India | Accounting Policy > Finance - General > Accounting Policy followed by Satyam Silk - BSE: 503893, NSE: N.A
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Satyam Silk

BSE: 503893|ISIN: INE07MC01015|SECTOR: Finance - General
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Satyam Silk is not traded in the last 30 days
Satyam Silk is not listed on NSE
Mar 13
Accounting Policy Year : Mar '14
(a) Use of Estimates - The presentation of financial statements is in
 conformity with the generally accepted accounting principles requires
 estimates and assumptions to be made that affect the reported amount of
 assets and liabilities on the date of the financial statements and the
 reported amount of revenues and expenses during the reporting period.
 Difference between the actual and the estimates are recognized in the
 period in which the results are known / materialized.
 
 (b) Fixed Assets - Fixed assets are stated at cost of aquisition or
 construction including incidental expenses related to the acquisition
 or construction of the asset and the same are shown net of accumulated
 depreciation.
 
 (c) Depreciation - Depreciation on fixed assets used for the purpose of
 business is provided on written down value basis as per the provisions
 of the Income Tax Act, 1961.
 
 (d) Investments - Long Term Investments are carried at cost. However,
 provision for diminution in value is made to recognise a decline other
 than temporary in the value of investments.
 
 (e) Impairment of Assets - An asset is treated as impaired when the
 carrying cost of asset exceeds its recoverable value. An impairment
 loss is charged to the Profit and Loss account in the year in which an
 asset is identified as impaired. The impairement loss recognized in
 prior accounting periods is reversed if there has been a change in the
 estimate of the recoverable amount.
 
 (f) Revenue & Expenditure - All income and expenditure having a
 material bearing on the financial statements are recognised on
 accrual basis.
Source : Dion Global Solutions Limited
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