Accounting Policies of Suryodaya Plastics Ltd. Company

Mar 31, 2013

1. Accounting Concepts :

The Company follows the Mercantile Systems of Accounting and recognizes Income & Expenditure on Accrual basis unless otherwise stated.

2. Fixed Assets :

(a) Fixed Assets are stated at cost of acquisition (inclusive of any other cost attributable to bringing the same to their Working condition), less accumulated depreciation.

(b) Fixed Assets manufactured / constructed in house are valued at actual cost of raw materials, conversion cost, Excise duty and other related cost, less accumulated depreciation.

3. Depreciation:

The Company follows the straight line method of depreciation (Pro-rata for additions / deletion during the year), in accordance with Schedule XIV to the Companies Act, 1956 (as amended).

4. Inventory Valuation :

Inventories are valued at cost or net realizable value whichever is lower.

5. Retirement Benefits :

Leave encashment and Gratuity is accounted for on cash basis.

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Mar 31, 2011

1. Accounting Concepts:

The Company follows the Mercantile Systems of Accounting and recognizes Income & Expenditure on Accrual basis unless otherwise stated.

2. Fixed Assets:

(a) Fixed Assets are stated at cost of acquisition (inclusive of any other cost attributable to bringing the same to their Working condition), less accumulated depreciation.

(b) Fixed Assets manufactured / constructed in house are valued at actual cost of raw materials, conversion cost, Excise duty and other related cost, less accumulated depreciation.

3. Depreciation:

The Company follows the straight line method of depreciation (Pro-rata for additions / deletion during the year), in accordance with Schedule XIV to the Companies Act, 1956 (as amended).

4. Inventory Valuation:

Inventories are valued at cost or net realizable value whichever is lower.

5. Retirement Benefits:

Leave encashment and Gratuity is accounted for on cash basis.

B. CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF:

1. There is no contingent liability.

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Mar 31, 2010

1. Accounting Concepts :

The Company follows the Mercantile Systems of Accounting and recognizes Income & Expenditure on Accrual basis unless otherwise stated.

2. Fixed Assets:-

(a) Fixed Assets are stated at cost of acquisition (inclusive of any other cost attributable to bringing the same to their Working condition), less accumulated depreciation.

(b) Fixed Assets manufactured / constructed in house are valued at actual cost of raw materials, conversion cost, Excise duty and other related cost, less accumulated depreciation.

3. Depreciation:

The Company follows the straight line method of depreciation (Pro-rata for additions / deletion during the year), in accordance with Schedule XIV to the Companies Act, 1956 (as amended).

4. Inventory Valuation :

Inventories are valued at cost or net realizable value whichever is lower.

5. Retirement Benefits :

Leave encashment and Gratuity is accounted for on cash basis.