Sai Jeevadhara Finance Ltd. நிறுவனத்தின் கணக்கியல் கொள்கைகள்

Mar 31, 2014

1. Accounting Convention

The Company follows the accrual system of accounting and RBI''s directions of 1998 as amended up to date with regard to Income Recognition and Asset Classification.

2. Fixed Assets

Fixed Assets are stated on historical cost basis.

3. Depreciation

Depreciation on fixed assets is charged on the written down value method as per the rates specified in Schedule XIV of the Companies Act, 1956.

4. Investments

Investments held as long term assets, are stated at realizable value.

5. Revenue Recognition

The Company is following the guidelines issued by the Institute of Chartered Accountants of India on lease accounting in respect of leases in the earlier years, prior to the issue of AS 19 "Leases".

The Company follows the IRR method for Hire Purchase, Secured Term Loan and Lease Accounting. However there are no fresh advances under Leasing or Hire Purchase or Secured Term Loan.

6. Retirement Benefits

(a) Gratuity to eligible employees on death / retirement was covered by Group Gratuity-Cum-Life Assurance Policy from LIC of India. The annual premium claimed by / paid to LIC of India, based on demand notice, was charged to revenue. For the Current Year, there is no such applicability.

(b) Liability for leave encashment was accounted on accrual basis f6r eligible employees as per the policy of the Company in the earlier years.

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Mar 31, 2013

1. Accounting Convention

The Company follows the accrual system of accounting and RBI''s directions of 1998 as amended upto date with regard to Income Recognition and Asset Classification.

2. Fixed Assets

Fixed assets are stated on historical cost basis.

3. Depreciation

Depreciation on fixed assets is charged on the written down value method as per the rates specified in Schedule XIV of the Companies Act, 1956.

4. Investments

Investments held as long term assets, are stated at realisable value.

5. Revenue Recognition

The company is following the guidelines issued by the Institute of Chartered Accountants of India on lease accounting in respect of leases in the earlier years, prior to the issue of AS 19 "Leases".

The company follows the IRR method for Hire Purchase, Secured Term Loan and Lease Accounting. However there are no fresh advances underleasing or Hire Purchase or Secured Term Loan.

6. Retirement Benefits

a) Gratuity to eligible employees on death/retirement is covered by Group Gratuity-Cum-Life Assurance Policy from LIC of India. The annual premium claimed by/paid to LIC of India, based on demand notice, is charged to revenue. For the Current Year, there is no such applicability.

b) Liability for leave encashment was accounted on accrual basis for eligible employees as per the policy of the Company in the earlier years.

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Mar 31, 2012

1. Accounting Convention

The Company follows the accrual system of accounting and RBI's directions of 1998 as amended upto date with regard to Income Recognition and Asset Classification.

2. Fixed Assets

Fixed assets are stated on historical cost basis.

3. Depreciation

Depreciation on fixed assets is charged on the written down value method as per the rates specified in Schedule XIV of the Companies Act, 1956.

4. Investments

Investments held as long term assets, are stated at realisable value.

5. Revenue Recognition

The company is following the guidelines issued by the Institute of Chartered Accountants of India on lease accounting in respect of leases in the earlier years, prior to the issue of AS 19 "Leases".

The company follows the IRR method for Hire Purchase, Secured Term Loan and Lease Accounting. However there are no fresh advances under Leasing or Hire Purchase or Secured Term Loan.

6. Retirement Benefits

a) Gratuity to eligible employees on death/retirement is covered by Group Gratuity-Cum-Life Assurance Policy from LIC of India. The annual premium claimed by/paid to LIC of India, based on demand notice, is charged to revenue. For the Current Year, there is no such applicability.

b) Liability for leave encashment was accounted on accrual basis for eligible employees as per the policy of the Company in the earlier years.

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Mar 31, 2011

1. Accounting Convention

The Company follows the accrual system of accounting and RBI's directions of 1998 as amended up to date with regard to Income Recognition and Asset Classification.

2. Fixed Assets

Fixed assets are stated on historical cost basis.

3. Depreciation

Depreciation on fixed assets is charged on the written down value method as per the rates specified in Schedule XIV of the Companies Act, 1956.

4. Investments

Investments held as long term assets, are stated at realisable value.

5. Revenue Recognition

The company is following the guidelines issued by the Institute of Chartered Accountants of India on lease accounting in respect of leases in the earlier years, prior to the issue of AS 19 "Leases".

The company follows the IRR method for Hire Purchase, Secured Term Loan and Lease Accounting. However there are no fresh advances under Leasing or Hire Purchase or Secured Term Loan.

6. Retirement Benefits

a) Gratuity to eligible employees on death/retirement is covered by Group Gratuity-Cum-Life Assurance Policy from LIC of India. The annual premium claimed by/paid to LIC of India, based on demand notice, is charged to revenue.

b) Liability for leave encashment has been accounted on accrual basis for eligible employees as per the policy of the Company.

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Mar 31, 2010

1. Accounting Convention

The Company follows the accrual system of accounting and RBIs directions of 1998 with regard to Income Recognition and Asset Classification.

2. Fixed Assets

Fixed assets are stated on historical cost basis.

3. Depreciation

Depreciation on fixed assets is charged on the written down value method as per the rates specified in Schedule XIV of the Companies Act, 1956.

4. Investments

Investments held as long term assets, are stated at realisable value.

5. Revenue Recognition

The company is following the guidelines issued by the Institute of Chartered Accountants of India on lease accounting in respect of leases in the earlier years, prior to the issue of AS 19 "Leases". The company follows the IRR method for Hire Purchase, Secured Term Loan and Lease Accounting. However there are no fresh advances under Leasing or Hire Purchase or Secured Term Loan.

6. Retirement Benefits

a) Gratuity to eligible employees on death/retirement is covered by Group Gratuity-Cum-Life Assurance Policy from LIC of India. The annual premium claimed by/paid to LIC of India, based on demand notice, is charged to revenue.

b) Liability for leave encashment has been accounted on accrual basis for eligible employees as per the policy of the Company.