Micro Forge (India) Ltd. कंपली की लेखा नीति

Mar 31, 2009

A] System of Accounting

The company generally follows mercantile system of accounting and recognizes significant items of income and expenditure on accrual basis.

B] Method of Accounting

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

C] Fixed Assets

Fixed Assets are stated at cost including financial cost till commencement of commercial production net of CENVAT.Depreciation on Fixed Assets is provided on Written Down Method at the rate and manner prescribed in Schedule XIV of the companies act 1956.