Perk Pharmaceuticals Ltd. कंपली की लेखा नीति

Mar 31, 2010

1. BASIS OF ACCOUNTING

The Financial year statements have been prepared under the historical cost convention in accordance with the generally accepted accounting principles and in accordance with specified accounting standards referred to in the sub section 3C of Section 211 of the Companies Act, 1956.

2. FIXED ASSETS

Fixed Assets are stated at cost less depreciation. Fixed Assets includes all related expenses upto acquisition and installations.

3. DEPRECIATION

i) Depreciation on Fixed Assets have been provided on Straight line basis at the rates prescribed in Schedule XIV of the Companies Act, 1956.

ii) Assets Costing less than Rs.5000/- are written off in the year of acquisition.

4. INVENTORIES

Raw Material, Work in progress and Stores are valued at cost. Finished goods and Goods with Consignee are valued at net realisable value.

5. SUNDRY DEBTORS & CREDITORS

Balance of Sundry Debtors and Sundry Creditors are taken as per ledger and are subject to confirmation / Reconciliation. Provisions required, if any, will be accounted for after due identification.

6. PROVISION FOR TAXATION

Keeping in view the net losses for the year there is no need of Provision for Income Tax .

7. AMORTISATION OF MISCELLANEOUS EXPENDITURE

Expenses incurred in connection with Public Issue & incorporation are carried under miscellaneous expenditure & are being mortised equally on the basis of ten equally installment.

8. SALES

Sales are recognized at the point of dispatch of goods to the customers and is reported net of Sale Tax.

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Mar 31, 2009

1 BASIS OF ACCOUNTING

The Financial year statements have been prepared under the historical cost convention in accordance with the generally accepted accounting principles and in accordance with specified accounting standards referred to in tin- sub section 3C of Section 211 of the Companies Act, 1956.

2. FIXED ASSETS

Fixed Assets are stated at cost less depreciation. Fixed Assets includes all related expenses upto acquisition and installations.

3. DEPRECIATION

i) Depreciation on Fixed Assets have been provided on Straight line basis at the rates prescribed in Schedule XIV of the Companies Act, 1956.

ii) Assets Costing less than Rs.5000/- are written off in the year of acquisition.

4 INVENTORIES

Raw Material, Work in progress and Stores are valued at cost. Finished goods and Goods with Consignee are valued at net realisable value.

5. SUNDRY DEBTORS & CREDITORS

Balance of Sundry Debtors and Sundry Creditors are taken as per ledger and are subject to confirmation / Reconciliation. Provisions required, if any, will be accounted for after due identification.

6 PROVISION FOR TAXATION

The provision for Income Tax has been made.

7. AMORTISATION OF MISCELLANEOUS EXPENDITURE

Expenses incurred in connection with Public Issue & incorporation are carried under miscellaneous expenditure & are being mortised equally on the basis of ten equally installment.

8. SALES

Sales are recognized at the point of dispatch of goods to the customers and is reported net of Sale Tax.