Alpine Capital Services Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2011

1. ACCOUNTING ASSUMPTION

The financial statement are drawn up in accordance with the historical cost convention on accrual basis and comply with the accounting standards referred to in Sec 211 (3C) of the companies act, 1956.

2. FIXED ASSETS

Fixed Assets are stated Cost of acquisition or construction inclusive of freight, erection & commissioning charges, duties and taxes, expenditure during construction period, interest on borrowings and financing costs up to the date of acquisition/installation.

3. DEPRECIATION

Depreciation on Fixed Assets is provided on Straight Line Method as per the classification and in the manner specified in Schedule-XIV to the Companies Act, 1956.

4. REVENUE RECOGNITION

Interest are accounted on accrual basis.

5. TAX ON INCOME

Current Tax is determined as per provisions of the Income Tax in respect of Taxable Income for the year. Deferred Tax Liability is computed as per Accounting Standard(AS-22). Deferred Tax Assets and deferred tax liability are computed by applying tax rates and laws that have been substantively enacted by the Balance Sheet date

6. USE OF ESTIMATES.

The preparation of financial statements require 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 periods. Difference between the actual results and estimates are recognized in the period in which the results are known/materialized.

7. PROVISIONS AND CONTINGENT LIABILITIES .

The Company recognizes a provision when there is a present obligation as result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liabilities of made when there is possible obligation or present obligation that may, but probably will not, require an outflow of resources. Where there is possible obligation or present obligation that the likelihood of outflow of resources is remote, no provision or disclosure is made.

8. INVESTMENT

Investment are stated at cost as they are classified on long term investments. As per disclosure required by As-13. Dividend is accounted for as and when received.

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Mar 31, 2009

A. SYSTEM ACCOUNTING

i) The company follows the mercantile system of accounting

ii)Financial statement are based on his cost.

B. INCOME

I) Interest income is accounted on accrual basis

ii) Introspect of other heads of income, the company follows the practice of accounting of such income on accrual basis.

C. EXPENSES Its is the policy of the company to provided for the expenses on accrual aces.

D. FIXED ASETS

Fixed assets are value at cost less calculated depreciation

E. DEPRECIATION

The Depreciation has been provided on straight line merged a provided under schedule XIV of the companies Act, 1956

F. INVESTORIES

Items of inventories stock trade consist of shares which are valued at cost or made at price which ever less.

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Mar 31, 2008

A. SYSTEM OF ACCOUTING :

(i) The Company follows the mercantile system of accounting.

(ii) Financial statement are based on historical cost.

B. INCOME :

(i) Dividend income is accounted on receipt basis.

(ii) In respect of other heads of income, the company follows the practice of accounting of such income on accrual basis.

C. EXPENSES:

It is the policy of the company to provide for all the expenses on accrual basis.

D. FIXED ASSFTS

Fixed Assets are valued at Cost less accumulated depreciation.

E. DFPRECIAITION

The Depreciation has been provided on straight-line method as provided under schedule XIV of the Companies Act 1956.

F. INVENTORIES

Items of inventories i.e. stock in trade consists of shares which are valued at cost or market price which ever is less.