Watson Software Ltd. कंपली की लेखा नीति

Mar 31, 2007

1) ACCOUNTING POLICIES

a) The company follows Mercantile System of Accounting and recognizes Income And Expenditure on acrual basis. All fixed assets are valued at cost less depreciation. However, no depreciation for the year has been provided for as the assets were attached by the DRT.

b) Sale of goods is recognized on dispatch to customers. Sales excludes amount recovered towards sales tax and net of trade discount.

c) Inventories are valued at lower of cost or net realizable value.

d) Depreciation on fixed assets is provided on "Straight line Method" at the rate of prescribed in schedule XIV to the Companies Act, 1956 as amended Depreciation on addition to fixed assets is charged on pro-rate basis. However, no depreciation for the year has been provided for as the assets were attached by the DRT

e) Provision has not been made for gratuity as no employee has put in the qualifying period of services for entitlements of this benefit.

f) Accounting policies are consistent and are in consonance with generally accepted accounting principles

2) Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. NIL (Previous Year Rs. NIL)

3) Contingent Liabilities not provided for:

Guarantee given by the companys bankers Rs. 5,000/- (Previous Year Rs. 5,000/-)

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Mar 31, 2006

A) The company follows Mercantile System of Accounting and recognizes Income And Expenditure on acrual basis. All fixed assets are valued at cost less depreciation. However, no depreciation for the year has been provided for as the assets were attached by the DRT.

b) Sale of goods is recognized on dispatch to customers. Sales excludes amount recovered towards sales tax and net of trade discount.

c) Inventories are valued at lower of cost or net realizable value.

d) Depreciation on fixed assets is provided on "Straight line Method" at the rate of prescribed in schedule XIV to the Companies Act, 1956 as amended Depreciation on addition to fixed assets is charged on pro-rate basis. However, no depreciation for the year has been provided for as the assets were attached by the DRT

e) Provision has not been made for gratuity as no employee has put in the qualifying period of services for entitlements of this benefit.

f) Accounting policies are consistent and are in consonance with generally accepted accounting principles

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Mar 31, 2001

1. ACCOUNTING POLICES :

(a) The Company follow Merchantile system of Accounting and recognises income and Expenditure on actual basis. All fixed assets are valued at cost less depreciation.

(b) Sale of goods is recognised on despatch to customers. Sales excludes amount recovered towards sales tax and net of Trade discount

(c) Inventories are valued at lower of cost or net realisable value.

(d) Depreciation on Fixed Assets is provided on "Straight Line Method" at the rate prescribed in Schedule XIV to the Companies Act, 1956, as amended Depreciation on additions to Fixed Assets is charged on Pro-rate basis.

(e) Provisions has not been made for gratuity as no employee has put in the qualifying period of services for entitlement of this benefit.

(f) Accounting policies are consistant and are in consonance with generally accepted Accounting principles

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Mar 31, 2000

(a) The Company follows Mercantile system of Accounting and recognises Income and Expenditure on actual basis. All fixed assets are valued at cost less depreciation.

(b) Sale of goods is recognised on despatch to customers. Sales excludes amount recovered towards Sales tax and net of Trade discount.

(c) Inventories are valued at lower of cost or net realisable value.

(d) Depreciation on Fixed Assets is provided on "Straight Line Method" at the rate prescribed in Schedule XIV to the Companies Act, 1956, as amended. Depreciation on additions to Fixed Assets is charged on pro-rata basis.

(e) Provisions has not been made for gratuity as no employee has put in the qualifying period of service for entitlement of this benefit.

(g) Accounting policies are consistant and are in consonance with generally accepted Accounting principles.

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Mar 31, 1999

(a) The Company follows Mercantile system of Accounting and recognises Income and Expenditure on actual basis. All fixed assets are valued at cost less depreciation.

(b) Sale of goods is recognised on despatch to customers. Sales excludes amount recovered towards Sales tax and net of Trade discount.

(c) Inventories are valued at lower of cost or net realisable value.

(d) Depreciation on Fixed Assets is provided on "Straight Line Method" at the rate prescribed in Schedule XIV to the Companies Act, 1956, as amended. Depreciation on additions to Fixed Assets is charged on prorata basis.

(e) Provisions has not been made for gratuity as no employee has put in the qualifying period of service for entitlement of this benefit.

(g) Accounting policies are consistant and are in consonance with generally accepted Accounting principles.

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Mar 31, 1998

1. The Company follows Mercantile system of Accounting and recognises Income and Expenditure on actual basis. All fixed assets are valued at cost less depreciation.

2. Sale of goods is recognised on despatch to customers. Sales excludes amount recovered towards Sales tax and net of Trade discount.

3. Inventories are valued at lower of cost or net realisable value.

4. Depreciation on Fixed Assets is provided on "Straight Line Method" at the rate prescribed in Schedule XIV to the Companies Act, 1956, as amended. Depreciation on additions to Fixed Assets is charged on prorata basis.

5. Provisions has not been made for gratuity as no employee has put in the qualifying period of service for entitlement of this benefit.

6. Accounting policies are consistent and are in consonance with generally accepted Accounting principles.

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Mar 31, 1997

1. The Company follows Mercantile system of Accounting and recognises Income and Expenditure on actual basis. All fixed assets are valued at cost less depreciation.

2. Sale of goods is recognised on despatch to customers. Sales excludes amount recovered towards Sales tax and net of Trade discount.

3. Inventories are valued at lower of cost or net realisable value.

4. Depreciation on Fixed Assets is provided on "Straight Line Method" at the rate prescribed in Schedule XIV to the Companies Act, 1956, as amended. Depreciation on additions to Fixed Assets is charged on prorata basis.

5. Provisions has not been made for gratuity as no employee has put in the qualifying period of service for entitlement of this benefit.

6. Accounting policies are consistent and are in consonance with generally accepted Accounting principles.

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Mar 31, 1996

(a) The Company follows Mercantile system of Accounting and recognises Income and Expenditure on actual basis. All fixed assets are valued at cost less depreciation.

(b) Sale of goods is recognised on despatch to customers, Sales excludes amount recovered towards Sales tax and net of Trade discount.

(c) Inventories are valued at lower of cost or net realisable value.

(d) Preliminary & Capital issue expenses are amortised in a period of 10 years.

(e) The Company has provided depreciation for all the assets based on their utilisation on a pro-rata basis, using a written down method at the rate specified in Schedule XIV of the Companies Act, 1956.

(f) Provisions has not been made for gratuity as no employee has put in the qualifying period of service for entitlement of this benefit.

(g) Accounting policies are consistant and are in consonance with generally accepted Accounting principles.

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Mar 31, 1995

(a) The Company follows Mercantile system of Accounting and recognises Income and Expenditure on actual basis. All fixed assets are valued at cost less depreciation Pre-operative expenses are capitalised.

(b) Sale of goods is recognised on despatch to customers. Sales excludes amount recovered towards Sales tax and net of Trade discounts.

(c) Inventories are valued at lower of cost or net realisable value.

(d) Preliminary & Capital Issue expenses are amortised in a period of 10 years.

(e) The Company has provided depreciation for all the assets based on their utilisation on a pro-rata basis, using a straight line method at the rates specified in schedule XIV of the Companies Act, 1956.

(f) Provision has not been made for gratuity as no employee has put in the qualifying period of service for entitlement of this benefit.

(g) Accounting policies are consistent and are in consonance with generally accepted Accounting principles.