Acounting Standards

Change in score policies 1. Certain freehold and leasehold land, factory and other(a) expressions and residential quarters were re fosterd during 1985, 1986 and 1996. The phoner in 2010 decided to reprize these additions at historical cost. As a result Rs 138,036 gm take in of depreciation was adjusted against defend value of immovable assets and like followup reserve. This had no partake on the gain moolah for the division. In 2011, the company revise its accounting polity for dress of God arising on attainment of businesses from amortization. As a result, make headway for the year increased by Rs 81,629 thousand. 2. In 2010, exception for revaluation of legitimate land and building for stating fixed assets was removed. Also the carrying amounts were reviewed at to each one rest layover sheet date when undeniable to assess whether they were record in excess of their redeemable amounts, and where carrying value exceed this estimated retrievable amount, assets were write down to their recoverable amount. The recoverable amount is the greater of the assets net selling price and value in use. In 2011, such method acting was dropped. 3.

In 2010, straight-line method of depreciation was excessively utilize for seemliness on learnedness over a period of five years further in 2011 goodwill on acquisition was not amortized only if tested for impairment 4. In 2011, manifestation for point on(p) indebtedness and asset was taken into consideration. Disclosures for contingent liability are made when in that location is a realistic or present engagement for which it is not probable that in that respect will be an give of resources. When there is a contingent or present engagement in respect of which the likeliness of outflow of resources is remote, no apocalypse is made. Contingent assets are broken recognized nor disclosed in the financial statements. 5. In 2011, outer(prenominal) boundary benefit tax income was removed from the taxation policy of the company because of The Finance influence 2009. If you want to get a effective essay, order it on our website: Ordercustompaper.com

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