Krisons Electronic Systems Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2010

(a) General

The accounts are prepared on accrual basis under the historical cost conventions and in accordance with the generally accepted accounting principles. However, Bonus and gratuity payable to the employees is accounted for in the year of actual payment.

(b) Valuation of Inventory

Stocks are valued at cost or estimated realizable value as decided by the management.

(c) Valuation of fixed assets:

Fixed Assets are valued at cost of acquisition less accumulated depreciation. Cost of acquisition includes freight, duties, taxes and incidental expenses attributable to bringing the same to their working condition.

(d) Depreciation:

Depreciation is provided on straight line method as per rates prescribed in Schedule XIV of the Companies Act, 1956.

(e) Amortisation of Expenses:

Share issue expenses are written off over a period of ten years.

(f) Retirement Benefits:

Contribution to Provident Fund are accounted for on actual liability basis. Gratuity & Leave Encashment payable to ex-employees is accounted for as and when actually paid.

(g) Borrowing Cost:

Borrowing costs attributable to the acquisition, construction or production of qualifying assets are capitalized as part of costs of such assets. A qualifying asset is an asset that necessarily requires a substantial period of time to get ready for its intended use or sale. All other Borrowing Costs are recognized as an yawn in the period in which they are incurred.

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Mar 31, 2009

(a) General

The accounts are prepared on accrual basis under the historical cost conventions and in accordance with the generally accepted accounting principles. However. Bonus and gratuity payable to the employees is accounted for in the year of actual payment.

(b) Valuation of Inventory

Stocks are valued at cost or estimated realizable value as decided by Hoe management

(c) Valuation of fixed assets:

Fixed Assets are valued at cost of acquisition less accumulated depreciation. Cost of acquisition includes freight, duties, taxes and incidental expenses attributable to bringing the same to their working condition.

(d) Depredation:

Depreciation is provided on straight line method as per rates prescribed in Schedule XTV of the Companies Act, 1956.

(e) Amortization of Expenses:

Share issue expenses are written off over a period often years.

(f) Refinement Benefits:

Contribution to Provident Fund are accounted for on actual liability basis. Gratuity & Leave Encashment payable to ex-employees is accounted for as and when actually paid.

(g) Borrowing Cost

Borrowing costs attributable to the acquisition, construction or production of qualifying assets are - capitalized as part of costs of such assets. A qualifying asset is an asset that necessarily requires a substantial period of time to get ready for its intended use or sale. All other Borrowing Costs are recognized as an expense in the period in which they are incurred.

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Mar 31, 2008

(a) General

The accounts are prepared on accrual basis under the historical cost conventions and in accordance with the generally accepted accounting principles. However, Bonus and gratuity payable to the employees is accounted for in the year of actual payment.

(b) Valuation of Inventory

Stocks are valued at cost or estimated realizable value as decided by the management.

(c) Valuation of fixed assets:

Fixed Assets are valued at cost of acquisition less accumulated depreciation. Cost of acquisition includes freight, duties, taxes and incidental expenses attributable to bringing the same to their working condition.

(d) Depreciation:

Depreciation is provided on straight line method as per rates prescribed in Schedule XIV of the Companies Act, 1956.

(e) Amortisation of Expenses:

Share issue expenses are written off over a period of ten years.

(f) Retirement Benefits:

Contribution to Provident Fund are accounted for on actual liability basis. Gratuity & Leave Encashment payable to ex-employees is accounted for as and when actually paid.

(g) Borrowing Cost:

Borrowing costs attributable to the acquisition, construction or production of qualifying assets are capitalized as part of costs of such assets. A qualifying asset is an asset that necessarily requires a substantial period of time to get ready for its intended use or sale. All other Borrowing Costs are recognized as an expense in the period in which they are incurred.