Accounting Policies of Indo Germa Products Ltd. Company

Mar 31, 2010

A) System of Accounting :

The company adopts the accrual concept in the preparation of accounts

b) Inflation:

Assets and liabilities are recorded at historical cost of the company. These cost are not a justed to reflect the changing valve of purchasing power of money.

c) Depreciation:

The company follows the written down value method of providing depreciation in the manne. and at the rates prescribed under schedule xiv to the Companies Act. 1956 (as amended upto date)

d) Inventory Valuation:

Raw materials stores spares and packing materials are valued at cost following FIFO method.