Maplle Infraprojects Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

1.1 The financial statements have been prepared under historical cost convention in accordance with the generally accepted accounting principles and the provisions of the Companies Act, 1956, as adopted consistently by the Company.

1.2 FIXED ASSETS AND DEPRECIATION:

a. Fixed Assets are stated at Cost.

b. Depreciation on Fixed Assets is provided on the Straight Line Method at the rates specified from time to time in Schedule XIV to the Companies Act, 1956.

c. Depreciation on additions to assets or on sale of assets is calculated pro-rata from the date of such addition or up to the date of such sale, as the case may be.

1.3 INVESTMENTS

Investments are stated at the cost of acquisition.

1.4 VALUATION OF INVENTORIES

Inventories are valued at cost, other than finished goods, which are valued at lower of cost or market value.

1.5 INCOME AND EXPENDITURE

Revenue/lncome and cost/expenditures are generally accounted on accrual basis as they are earned or incurred, except those with significant uncertainties.

1.6 REVENUE RECOGNITION

The Company follows percentage completion method for accounting of construction contracts/projects. The revenue under a construction project is recognized with reference to the stage of completion of the contract activity at the end of each accounting period. The stage of completion is determined as a proportion of cost incurred-to-date to the total estimated contract cost. Provision is made for foreseeable losses when current estimates of total contract costs and revenues indicate a loss.

Sale of Goods is recognized on transfer of property in goods as per agreed terms. Sales represent the invoice value of goods sold.

1.7 RETIREMENT BENEFITS

a. The Company does not have employees who have completed more than five years of service and is hence of the opinion that the provisions of the Payment of Gratuity Act, 1972 are not applicable.

b. The monetary value of Leave encashment benefit is provided on the assumption that such benefit is payable at end of the year.

1.8 DEFERRED REVENUE EXPENSES:

a. Deferred revenue expenses are written off over a period of three years, beginning from the financial year in which incurred.

b. Preliminary expenses and Public Issue expenses are to be written off over a period of Ten years.

1.9 FOREIGN CURRENCYTRANSACTIONS

Sales, Purchases and other expenses in Foreign Currency are converted at the rate prevailing on the date of transactions.

1. The financial statements have been prepared under historical cost convention in accordance with the generally accepted accounting principles and the provisions of the Companies Act, 1956, as adopted consistently by the company.

2. FIXED ASSETS AND DEPRECIATION:

a. Fixed Assets are stated at Cost.

b. Depreciation on Fixed Assets is provided on the Straight Line Method at the rates specified from time to time in Schedule XIV to the Companies Act, 1956.

c. Depreciation on additions to assets or on sale of assets is calculated pro-rata from the date of such addition or up to the date of such sale, as the case may be.

3. INVESTMENTS

Investments are stated at the cost of acquisition.

4. VALUATION OF INVENTORIES

Inventories are valued at cost, other than finished goods, which are valued at lower of cost or market value.

5. INCOME AND EXPENDITURE

Revenue/Income and cost/expenditures are generally accounted on accrual basis as they are earned or incurred, except those with significant uncertainties.

Revenue Recognition

a. The Company follows percentage completion method for accounting of construction contracts/projects. The revenue under a construction project is recognized with reference to the stage of completion of the contract activity at the end of each accounting period. The stage of completion is determined as a proportion of cost incurred-to-date to the total estimated contract cost. Provision is made for foreseeable losses when current estimates of total contract costs and revenues indicate a loss.

b. Sale of Goods is recognized on transfer of property in goods as per agreed terms. Sales represent the invoice value of goods sold.

6. RETIREMENT BENEFITS

a. The company does not have employees who have completed more then five years of service and is hence of the opinion that the provisions of the Payment of Gratuity Act, 1972 are not applicable.

b. The monetary value of Leave encashment benefit is provided on the assumption that such benefit is payable at end of the year.

7. DEFERRED REVENUE EXPENSES:

Deferred revenue expenses are written off over a period of three years, beginning from the financial year in which incurred.

8. Preliminary expenses and Public Issue expenses are to be written off over a period of Ten years.

9. FOREIGN CURRENCY TRANSACTIONS

Sales, Purchases and other expenses in Foreign Currency are converted at the rate prevailing on the date of transactions.

1. The financial statements have been prepared under historical cost convention in accordance with the generally accepted accounting principles and the provisions of the Companies Act, 1956, as adopted consistently by the company.

2. FIXED ASSETS AND DEPRECIATION:

a. Fixed Assets are stated at Cost.

b. Depreciation on Fixed Assets is provided on the Straight Line Method at the rates specified from time to time in Schedule XIV to the Companies Act, 1956.

c. Depreciation on additions to assets or on sale of assets is calculated pro-rata from the date of such addition or up to the date of such sale, as the case may be.

3. INVESTMENTS

Investments are stated at the cost of acquisition.

4. VALUATION OF INVENTORIES

Inventories are valued at cost, other than finished goods, which are valued at lower of cost or market value.

5. INCOME AND EXPENDITURE

Revenue/Income and cost/expenditures are generally accounted on accrual basis as they are earned or incurred, except those with significant uncertainties.

Revenue Recognition

a. The Company follows percentage completion method for accounting of construction contracts/projects. The revenue under a construction project is recognized with reference to the stage of completion of the contract activity at the end of each accounting period. The stage of completion is determined as a proportion of cost incurred-to-date to the total estimated contract cost. Provision is made for foreseeable losses when current estimates of total contract costs and revenues indicate a loss.

b. Sale of Goods is recognized on transfer of property in goods as per agreed terms. Sales represent the invoice value of goods sold.

6. RETIREMENT BENEFITS

a. The company does not have employees who have completed more then five years of service and is hence of the opinion that the provisions of the Payment of Gratuity Act, 1972 are not applicable.

b. The monetary value of Leave encashment benefit is provided on the assumption that such benefit is payable at end of the year.

7. DEFERRED REVENUE EXPENSES:

Deferred revenue expenses are written off over a period of three years, beginning from the financial year in which incurred.

8. Preliminary expenses and Public Issue expenses are to be written off over a period of Ten years.

9. FOREIGN CURRENCY TRANSACTIONS

Sales, Purchases and other expenses in Foreign Currency are converted at the rate prevailing on the date of transactions.

1. The financial statements have been prepared under historical cost convention in accordance with the generally accepted accounting principles and the provisions of the Companies Act, 1956, as adopted consistently by the company.

2. FIXED ASSETS AND DEPRECIATION :

a. Fixed Assets are stated at Cost.

b. Depreciation on Fixed Assets is provided on the Straight Line Method at the rates specified from time to time in Schedule XIV to the Companies Act, 1956.

c. Depreciation on additions to assets or on sale of assets is calculated pro-rata from the date of such addition or up to the date of such sale, as the case may be.

3. INVESTMENTS :

Investments are stated at the cost of acquisition.

4. VALUATION OF INVENTORIES :

Inventories are valued at cost, other than finished goods, which are valued at lower of cost or market value.

5. INCOME AND EXPENDITURE :

Revenue/Income arid cost/expenditures are generally accounted on accrual basis as they are earned or incurred, except those with significant uncertainties.

Revenue Recognition

a. The Company follows percentage completion method for accounting of construction contracts/ projects. The revenue under a construction project is recognised with reference to the stage of completion of the contract activity at the end of each accounting period. The stage of completion is determined as a proportion of cost incurred-to-date to the total estimated contract cost. Provision is made for foreseeable losses when current estimates of total contract costs and revenues indicate a loss.

b. Sale of Goods is recognised on transfer of property in goods as per agreed terms. Sales represent the invoice value of goods sold.

6. RETIREMENT BENEFITS

a. The company does not have employees who have completed more then five years of service and is hence of the opinion that the provisions of the Payment of Gratuity Act, 1972 are not applicable.

b. The monetary value of Leave encashment benefit is provided on the assumption that such benefit is payable at end of the year.

7. DEFERRED REVENUE EXPENSES :

Deferred revenue expenses are written off over a period of three years, beginning from the financial year in which incurred.

8. Preliminary expenses and Public Issue expenses are to be written off over a period of Ten years.

9. FOREIGN CURRENCY TRANSACTIONS

Sales, Purchases and other expenses in Foreign Currency are converted at the rate prevailing on the date of transactions.