Sibar Software Services (india) Ltd. कंपली की लेखा नीति

Mar 31, 2014

A. Assets and Liabilities are recorded at historic cost to the Company.

b. Assets under erection/installation and advances paid for acquisition of assets are shown as capital work-in-progress

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Mar 31, 2012

A. Assets and Liabilities are recorded at historic cost to the Company.

b. Assets under erection/installation and advances paid for acquisition of assets are shown as capital work-in- progress

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Mar 31, 2010

1. Basis of Accounts:

a. The financial statements have been prepared under the

historical cost conversion and in accordance with the application Accounting Standards issued by the Insti- tute of Chartered Accountants of India and relevant, presentational requirements of the Companies Act, 1956.

b. Accounting policies not specifically referred to are consistent and in consonance with Generally Accepted Accounting Principles followed by the Company and are in compliance with the Accounting Standards re- ferred to under Section 211(3C) of the Companies Act, 1956.

2. In the matter of compliance with the Accounting Stan- dard "AS-22, Accounting for taxes on Income" issued by the institute of chartered Accountants of India (ICAI), it is to state that since the Company has unab- sorbed losses to the tune of Rs.435.40 lakhs and fur- ther it is incurring continuous losses, there is very much uncertain in availability of future taxable in- come against which the deferred tax assets can be realised. As such the provision for deferred tax assets is not made.

3. Fixed Assets :

Fixed Assets are stated at cost less depreciation. The cost including related incidental / installation expenses and pre-operative expenses, net of revenue related to project, till the date of commencement of commer- cial production.

4. Depreciation:

The Company has provided for the total block of assets amounting to Rs. Nil as depriciation, as the fixed assets which consists of computers, electronic items, furniture and fittings etc., are become obsolent.

5. Investments & Deposits :

Investments & Deposits have been stated at book value and the depreciation in value of the investments have not been provided for in the books of account.

6. Revenue Recognition:

The Companys revenue generation is on account of Production, Training and Entertainment, which are under mercantile accounting basis.

7. Taxation:

Provision of Income Tax has been worked out after considering rebates, reliefs and exemptions under the Income Tax Act, 1961.

8. Retirement Benefits:

a. The monthly contribution towards Provident Fund is charged against revenue.

b. The Company has not provided for gratuity amount. It will be paid and accounted as and when the liability arises.

9. Foreign Currency Transactions

Foreign Currency Transactions are recorded at rates of exchange prevailing on the dates of the respective transactions.