National Wind Power Corporation Ltd. நிறுவனத்தின் கணக்கியல் கொள்கைகள்

Mar 31, 2014

I) Shareholders holding more than 5%of the equity share capital (face value per share is 10/- each)

ii )Basis of Accounting

a) The accounts are prepared on the basis of historical cost convention and as a going concern in accordance with the generally accepted accounting principles and as per the provisions of the Companies Act, 1956.

b) The Company follows mercantile system of accounting and recognizes income and expenditure on accrual basis.

iii) Fixed Assets and Depreciation

a) Fixed Assets are stated at cost of acquisition or construction including any cost attributable to bringing the assets to their working condition for their intended use.

b) Depreciation is provided on Straight Line Method from the date of Purchase/Installation put to use at the rates and in the manner prescribed under Schedule XIV to the Companies Act, 1956.

iv) Inventories

Inventories are valued as under:

Raw Material and Bought out Goods - at the lower of Cost or Net Realisable Value

Finished Goods - at the lower of Cost or Net Realisable Value

Other Consumables - at the lower of Cost or Net Realisable Value

v) Miscellaneous Expenditure

Deferred Revenue expenditures are being amortized over a period of 10 years and charged to revenue accordingly.

vi) Taxation

Income tax expenses comprise current tax and deferred tax charge or credit. Deferred tax assets/ Liabilities are measured by applying tax rate and tax laws that have been enacted by the Balance sheet date. Deferred tax liability on account of opening timing difference due to depreciation under tax laws is recognized in the accounts. Deferred tax liability on account of depreciation during the year is also recognized in the accounts. At each Balance Sheet date, the carrying amount of Deferred Tax Assets/liabilities is reassessed based on a careful review.

vii) Borrowing Costs

Borrowing costs attributable to acquisition, construction or production of a qualifying fixed asset are capitalized as part of the cost of such asset. All other borrowing costs are recognized as an expense in the period in which they are incurred.

viii) Contingent Liabilities

Contingent Liabilities are disclosed by way of notes.

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Mar 31, 2013

I) Basis of Accounting

a)The accounts are prepared on the basis of historical cost convention and as a going concern in accordance with the generally accepted accounting principles and as per the provisions of the Companies Act, 1956.

b)The Company follows mercantile system of accounting and recognizes income and expenditure on accrual basis .

iii) Fixed Assets and Depreciation

a)Fixed Assets are stated at cost of acquisition or construction including any cost attributable to bringing the assets to their working condition for their intended use.

b)Depreciation is provided on Straight Line Method from the date of Purchase/Installation put to use at the rates and in the manner prescribed under Schedule XIV to the Companies Act, 1956. iv) Inventories

Inventories are valued as under :

Raw Material and Bought out Goods - at the lower of Cost or Net Realisable Value

Finished Goods - at the lower of Cost or Net Realisable Value

Other Consumables - at the lower of Cost or Net Realisable Value

v) Miscellaneous Expenditure

Deferred Revenue expenditures are being amortized over a period of 10 years and charged to revenue accordingly.

vi) Taxation

Income tax expenses comprise current tax and deferred tax charge or credit. Deferred tax assets/ Liabilities are measured by applying tax rate and tax laws that have been enacted by the Balance sheet date. Deferred tax liability on account of opening timing difference due to depreciation under tax laws is recognized in the accounts. Deferred tax liability on account of depreciation during the year is also recognized in the accounts. At each Balance Sheet date, the carrying amount of Deferred Tax Assets/liabilities is reassessed based on a careful review.

vii) Borrowing Costs

Borrowing costs attributable to acquisition, construction or production of a qualifying fixed asset are capitalized as part of the cost of such asset. All other borrowing costs are recognized as an expense in the period in which they are incurred.

viii) Contingent Liabilities

Contingent Liabilities are disclosed by way of notes.